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Sunday, 21 July 2013

A Good Week Trading

It has been a better week, perhaps one of my best.

My research into items to sell from Dodixie and Hek took a major step forward.  I am now selling more fittings and sub systems.  My prior ideas of trying station trading have now given away to selling these additional items.

In all, this week i increased by wealth by 2.2 bn ISK and so far i am making profits of c173m ISK per night this month and this rate is increasing.  I suspect that this rate may plateau out for now given my trader in Hek is now using all its active order slots, perhaps it will rise further as my trader in Dodoixie further finds items to sell.

I am starting to contract haul on a daily basis 1.8bn ISK of products which if sold for the target 20% margin after all broker / selling / Rush job hauling contracts would make me enough to buy a Plex if i managed to sell it all without reducing my prices (big if).  On a daily basis i am now spending c45m ISK contract hauling items from Jita to Dodixie and Hek.

Of the list of 165 items i have built up since i started two months ago that i sell in Dodixie c15% i now never sell as the prices are too low.  The least competitive items remain blueprints and the most competitive are the subsystems.

Now that i contract out to haul from Jita to Dodixie and Hek on a daily basis i am finding that i am spending my entire 45 minutes per weekday logged.  Hence i don’t feel that i can launch a third trader alt unless i was to update the sell orders and contract haul for 2 of them a day.

Trader in Dodixie: Not yet running at full speed.  Can post a maximum of 141 sell orders but not yet finding enough items to sell to use this all up.  So continuing to do research to find new items to sell.

Trader in Hek:  Doing well and using all sell order slots.  Main constraint to making ISK is the number of sell orders it can post.  Currently training Retail to level 5 which completes on 28 July and will allow me to train Wholesale to increase the number of sell orders i can post.  Currently has Trade 5, Accounting 4 and Broker Relations 4.  Hence, can post a maximum of 57 sell orders whilst paying Broker Fees of 0.80% and Sales tax of 0.90%.  i am hoping that the combined traders in Dodixie and Hek can make at least 8bn per month once the Hek trader is up and running in under a month – we will see.

Manufacturing Alt: Remains at Jita as my buying alt whilst it trains up in manufacturing.  So far, has trained Industry to Level 4, Mass Production 4 and Production Efficiency 4.  Currently training Production Efficiency 5 which will complete on the 28 July.  Then i intend to take Mass Production to Level 5 so that i can start Advanced Production.  Hence, still a month away from starting any manufacturing though when i do, i suspect i will be starting a new account and moving this alt to a new location.  In the new account i will start with a buyer alt in Jita.

Surplus ISK: I am now regularly sitting with 550k ISK in my wallet uninvested - has come down since I found the new items to sell in Dodixie and Hek.  The one thing i know about that 530k is that it will remain at 530k when i log in the next day.  I need to find items to buy in Jita to sell in Hek or Dodixie.  If i find that this surplus ISK keeps on growing then i may as well start a new account and start training up a new alt.

Corporation: I am mainly using my Corporation as a central location to deposit the ISK from the traders so that the alt in Jita can buy items using the Corporation wallet.  i am looking into seeing if the corporation can contract out the hauling of the items from Jita to Dodixie and Hek to save on mouse clicks – though i need to understand more how Corporation hangers work.

Current wealth is 9,149,479,219 ISK made up from:
  • Items for sale 8,902,467,294 ISK
  • less a 20% provision (1,780,493,459) ISK*
  • Buy orders 560,800,206 ISK
  • Items in storage for sale 248,900,000 ISK
  • Items in transit 0 ISK
  • ISK in wallets 1,271,805,178 ISK

Expected business purchases in the next 30 days
  • Plex 530,000,000 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 until i finally hold it as ISK.  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 cost is or at least the maximum reduction I would need to make to my sell orders as a whole before they are sold.

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