. . . . but below is an example of what happens on the market when sellers try and keep their position as the best sell order.
What we have above is my sell order in blue offering to sell 2 Caldari Navy Warfare Mindlinks for 326,975,504.00 ISK.
A competitor has put their sell order up for 325,975,503.00 ISK.
They are hoping that i focus on the last digit and drop my price by 1 ISK to 326,975,502.00 which of course would leave their sell order as still the lowest and me with 4 minutes to wait to update my order - and then the hope is that i would not bother to wait and just move on!
. . . . . . i suspect there are many hardened low/null sec PVP'rs who are by now crying into their keyboards at the travesty of the term "market PVP" . . . .
I see the other guy posted his order for 1 week duration. It doesn't make much sense to post sell orders for anything other than 3 months.
ReplyDeleteThis isn't WoW, it doesn't cost any more to post an item for a longer time. It costs exactly the same to post it for 1 day as for 3 months.
If on the rare occassion you post the same order price as the person youre undercutting, the smaller duration order is placed at the top.
DeleteYup. I've never had stock take more than a week to sell, so I leave it there, ties go to the quicker order, plus, it resets once you change the price, so unless you are going a week without changing orders or selling out, no point setting higher.
DeleteAlso, that was pretty amateur on his part, everyone should know, you change 6,8,9, never 3,4,5... the fonts are so bad, you need to take advantage of the similar looks of the rounder numbers, makes it easier to confuse people.. also, cents always make it harder than just .00
Just my .02
If after updating order, next day I see this price, I usually cut alot, which would be probably 300mil, while upping buy order by the same amount, After 2 months break, I put 100bil sell orders and I can tell that on first day some implants from 100mil difference between buy/sell went to 70, and will go 50 next day or even less.
ReplyDeleteHi Croda,
ReplyDeleteNot sure how to contact you so I do it through blog replies. So...I have read your blog and have used some of the tips you have shared as a way to make ISK in eve online. I made 100m, then 1b, then 5b, now I'm up to almost 15b with over 7b of that just lying around. Basically, I have too much ISK. In fact, besides the first week of two of trading I have almost never been fulling invested in the market. I have two traders Amarr and Dodixie with another character who sits in Jita. Do I open up another trade character? Sink it all in PLEX. Where do I put this dead ISK?
Firstly it may be worth seeing if you can find other items to sell in Dodixie and Amarr.
DeleteOnce that is exhausted and assuming you can comfortably finance a second account i would use a Plex a month and open that account by putting a trader in Rens and Hek. If you get it right then this account should be able to finance itself. And that will leave you a spare character slot as well.
Once that is done then i would look into buying Plex.
I don't even understand why people would think this works. You can see you orders both buy and sell in a different colour, so it's pretty obvious when your own order isn't on top anymore.
ReplyDeleteThen again, it did take me quite some time before I even knew about that option existing myself..
For you guys who have been so successful with this region trading scheme, what do you do with orders that go bad? That is, on a given item, some bozo shows up and wipes out your margin. I have several orders like this that remain stagnant for a long time -- sometimes the prices on those items never recover. What do you fellas do in that scenario? (I'm sure croda has dealt with this because he posted about it. But, I don't think that post contained a next step -- just a lament that the bozo didn't recognize that in this particular case, volume isn't sensitive to price.)
ReplyDeleteIn a case like that, I still lower the price daily until I sell. Rarely do I lose more than a few million isk per item and I can reinvest the freed money at once. I'ts always painful to see something sell at loss, but in my experience it's not that common.
DeleteI normally sell at the lowest price and redeploy the capital into selling other items at a profit.
DeleteIt is all part of the rough and tumble of trading.
I am due to write a post on this very situation in the near future.
Fenn, folgsam and croda are on the mark: you can just sell it for close to what you bought it for and put the isk somewhere else.
DeleteAlternatively if you're undercut to the point where you'll take a significant loss on the item just pull it down and sell it back at a market hub for a smaller value loss (or possibly a profit).
The reason these options are valid to most traders is that they often have MANY other items up for sale, so if a handful get undercut hard well they've got hundreds more all making them good profits and your account value keeps cranking up regardless.
Just cut your losses short, and again as they mention above, set the isk to use on something that will make you profits.