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Sunday, 11 October 2020

Plexing the account

It is now some 14 days until my Omega runs out, so i will start to divert the daily profits into buying the 500 Plex.  I estimate the 500 Plex will cost me 1.4m.

Annoyingly, my daily profits are stuck at about 160m isk per day, so it will take me about 9 days to buy all the Plex.  I am slightly changing my trading strategy to accelerate the daily profits - more of that to come in another post.

I have 5.7bn of Sell Orders in Dodixie and i am making about 0.8 - 1.0bn sales per day.  Therefore, i could just wait for 2 days worth of sales and use the proceeds to buy the Plex - but that will eat into my capital leaving 4.3bn and it would take be longer to recover.

So, the plan to just use the daily profits means that once i have bought the Plex i will still have 5.7bn of Sell Orders to continue my initial aim of making 10bn per month from Trading in Dodixie.

My current wealth is 4.7bn ISK vs 3.1bn at the end of September.

Current wealth is 4.7bn ISK made up from:
  • items for sale 5.7 ISK
  • less a 20% provision 1.2bn ISK*
  • ISK in wallet 0.1bn ISK

When i add up my wealth, 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.  Any ships or skills or fittings etc i buy are counted as expenses in that month.

* 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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