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Thursday, 24 April 2014

My Daily Routine - as of April 2014

One of the key reasons i went for my trading strategy of selling slow moving but high margin items is that there is little competition and hence i only need devote up to 45 minutes per day on all this.  Time is my enemy and a scarce resource.

Below is an outline of my current routine which takes up to 45 minutes per day.  If i have been away on business away from the game then it can take over an hour given i need to update many more orders.



Traders - takes me just under 30 minutes

1. update the trader at Rens: this trader sells items i manufacture, not very many - so only takes 3 minutes to update all the orders and note down what needs replenishing

2. update the trader at Amarr: this trader also sells items i manufacture and a handful of items purchases from Jita - also only takes 4 minutes to update all the orders and note down what needs replenishing

3. update the trader at Hek: this trader sells items bought from Jita and items i manufacture - so takes 7 - 11 minutes to update all orders and note down what needs replenishing

4. update the trader at Dodixie: this trader sells items bought from Jita and items i manufacture - so takes 9 - 13 minutes to update all orders and note down what needs replenishing.  It takes longer than Hek because Dodixie tends to be more competitive.

5. buy required items at Jita and set up courier contracts: this takes 5 minutes.  At the most i am buying for all four traders and setting up courier contracts with Push Industries using their Rush Jobs feature.  I include the items i manufactured which have been hauled into by my manufacturing alt (see below)

6. final (a couple of hours later) post of all items shipped from Jita before i go to bed.



Manufacturer - takes me 15 minutes

This alt normally starts at my manufacturing station in Lonetrek.

1. It pick up items which have been manufactured overnight and hauls them to Jita - they are then bundled with items bought from Jita and sent out to my traders in the other trade hubs (see above).

2. I update my sell orders in Jita (i sell items i manufacture in Jita).

3. I buy the required raw materials for production from Jita - these are the items i need to manufacture which my traders in the trade hubs have sold out of.

4. I haul these raw materials to Lonetrek and start the manufacturing.

5. I normally manufacture from the same station though occasionally i have to go to another station in the same system to find a spare manufacturing slot.



Inventor - at present this is ad hoc, so no real daily time taken up for now.

6 comments:

  1. A quick comment: I've started using your trading method, and in about 4 days I've sold 400 millions :)

    Any comments about the upcoming changes to industry?

    ReplyDelete
    Replies
    1. other blogs are making much better comments than me on the Industry changes. For me, i am not expecting much change. I manufacture in a largely empty system anyway so i should not face much cost pressures. Will be interesting to see if it starts to shift some business out of Jita.

      Delete
  2. Hi,

    Just a question:
    Do you use any excel sheets to track which item needs replenishing? Or do you just go through your orders and make a note where you see that the inventory is getting low?

    Thanks!

    ReplyDelete
    Replies
    1. yes - i use excel sheets to note down what i need to replenish. I don't carry any inventory - everything is up for sale. I sometimes buy very cheap items off a trade hub - hence i may have a few million sitting around. So i replenish as the sell orders are completed.

      Delete
  3. Are you sending a freighter full (or 1b collateral) worth of good to each of those systems? I am trying to work out how you can fire off 4 rush job courier jobs with PUSH and still make a profit? 1 1b collateral, 860k m3 freighter that is a rush job to hek is 44m, 46.3m to rens , 36m to amarr and 40m to dodixie, even more I assume with a larger collateral. That’s a lot of fees, and a lot of items would need to eb sold before you even begin to make a profit.

    ReplyDelete
    Replies
    1. using your numbers that would be 166m of fees. i aim to make at least 20% margins before costs. so on 4 x 1bn of hauling at 25% profits each gives me 1000m profits (1bn of costs suggests sales are 1.25bn, so giving profits of 250m = 20% margins). less taxes and broker fees of 0.9% + 0.8% = 983m. less hauling fees of 166m gives me a final profit of 817m. of course, i will be cutting prices as competition comes in.

      But that is the gist of my strategy. High margin but slow moving items is what i focus on. That 20% target is key/

      Delete

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