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Monday, 18 March 2019

Progress after 10 days

so, after 7 days trading my current wealth is 518m ISK (details at the bottom of this post).

The weekend was good, i have increased my wealth from 241m on Thursday night to 518m today.


Strategy the same

i scour the market for items i can buy from Sell orders in Jita and put on for sale in Dodixie for a profit.

At the moment, i am hauling the items myself from Jita to Dodixie but i suspect i will not haul beyond 100m ISK of items - that is when i will have to look into courier contracts.  I suspect 100m is the point at which i become a viable target.

I am sticking to blueprints and implants - in other words, items that take up very little room and so i can use a small fast ship to haul them from Jita to Dodixie.

My profits remain way over 100% for Blueprints and up to 100% for implants.


Some tactical changes

when i my wealth started at 10m ISK it made sense to buy items in Jita for 700k and sell them in Dodixie to 2.5m.  But that won't move the dials now.  Hence, i am slowly moving out of these low price items and focusing on items that cost more than, say, 10m ISK in Jita.

The golden rule remains to make sure as much of my ISK is invested in the market.


Skills

I trained Retail 4 and so i can now post up to 53 Buy+Sell orders.  I currently have 50 posted - so the number of sell orders will soon be a key constraint.

I wont have Retail 5 trained until next Sunday night.  That will then allow me to start to train Wholesale which increased my Buy+Sell order limit by 16 each level.





Current wealth is 518ISK made up from:
  • items for sale 647m ISK
  • less a 20% provision 129m ISK*
  • items in storage for sale 0 ISK
  • ISK in wallet 0m ISK
I don't count assets I use in the course of my business such as ships, fittings etc nor do I add back any expenses such as skills purchased etc.  The wealth I disclose is made up of items that are ISK or are in the process of being converted to ISK.

* I take a 20% provision against the items I am selling.  Eve calculates wealth by adding up the value of the sell orders hence it is possible to increase your wealth by buying an item for 100m ISK and putting a sell order for 120m ISK (in this case your wealth would increase by 20m ISK).  For me, I want my wealth to be calculated at cost.  I know that the value of my sell orders will likely fall over time as I update my orders downwards as competition reduces their prices before my items are sold.  Hence the 20% provision is my best guess as to what the maximum reduction I would need to make to my sell orders as a whole before they are sold.  In an ideal world I would value my sell orders at the value which I bought the items for.

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