I'm a noob you see and i can't deal with trading. I was trading with sweat, animal hide and recently with molisk teeth. Do you know and can you pls tell me any good idea for making money from trade? I'm wondering about Foul Bones and Gold Ignots.

Sry for my english.

What is your problem with trading?
There is no easy way to make money.
If you want to sell stuff you looted go to twin or PA or throw it in auction
If you want to resell, well then typically you have to buy low and sell high :-)
Issue is that most people know the prices quite well, so that is pretty hard.
(why would I sell e.g. foul bones to you at say 700% if in auction I get get 800%, and every once in a while someone who uses them directly will stop by and buy mine for 800%)

Thx for answer.

Quote:What is your problem with trading?

I simply don't know any good resource to trading with. I was trading with AH, but the price got down and now is to low for me to trade.

The trouble with trading is you need a lot of peds to begin with to really make any sort of "profit" from it. There is no magic formula. You just need to become very familiar with the market and find buyers and sellers.

Hello,

I am in the same boat as you. I was trading animal hides and the bottom dropped out of that market. That, unfortunately is the risk we traders take.

Here is some basic trading advise:
1. Buy low, sell high. It sounds like a brush off answer but it is the basis for your profit margin. read on for some caveats
2. Don't buy too low or too high. If you take advantage of someone because they are new, ignorant or in dire need they will remember you as someone who uses people and you may get a rep as a reseller instead of a trader.
3. Stick to small quatities of stackables. The smaller the quantity the less you can pay as you are providing a service to the hunter. Once you get a large nough ammount to sell (preferably to another ava but possibly on auction) you will make your profit then.
4. Watch the auctions. These will give you a clue as to what large crafting runs are underway or being planned. look at the history of the resourse not just the current price. You need to buy with the base, standard price in mind just in case the crafting run is stocked before you have enough to sell.
5. Be patient. Patience is your best and most valuable tool. You will need pacience when you are buying to get enough to sell at a decent profit. You may also need patience to sell, an example of this is the AH market you mentioned. I have alot of these on hand. I am waiting for the price to go back up (and it may be quite a while).
6. Be courteous. People may not remember you as much but the guy they do remember is the one who was rude or ripped them off - and they won't deal with him again.
7. Be honest. If someone gives you too much for your goods - dont take it. (It is ok if it is a friend who knows he is overpaying - but make sure he knows he is being generous and it is appreciated) Expalin to them thier mistake and help them out. That they will remember and you will stand a good chance of becomming a prefered trader for them.
8. Don't be cheap. Round up to the nearest pec (or ped if close enough). In most cases the difference of a few percent is fractions of a pec. While you do have to keep track of this to ensure you dont blow your profit margin you also need to keep customer relations in mind. You always round up is something people will remember. And in the event you cant round up once in a while they will understand and may trade anyway.
9. DO NOT RIP PEOPLE OFF. There have been many occasions I have told people what I am offering and pointed out that another ava is spamming a better price. This shows your customers that you are honest and a reliable source of information as well as cash and that they can trust you.

Well thats a bit more than the basics. If you want more info PM me or talk to me in game and I'll see what I can do for you.

Grounder

outstanding post grounder!!!! well thought out and on point!

Honestly, it is very hard to make money trading without a large bank roll to start with. If you follow Grounder's advice though I am sure you will do fine.

I agree with Kaiser.
Actually I perceive it as a lot of work with little fun. It is easier to earn money by taking a RL job.

Making money from trading can be done with almost any amount actually, but it is obviously much easier the more cash you have.

dutchie Wrote:I agree with Kaiser.
Actually I perceive it as a lot of work with little fun. It is easier to earn money by taking a RL job.

You know, there are some insane people who find it fun anyway. Just as there are some people who can stand hunting the same beasts for weeks.

Anyway the key requirement to be succesful at trading is patience. If you don't got PLENTY of that, don't even bother trying to make a worthwhile income from trading. General market and trading knowledge is kind of required as well, but one can already start with very little knowledge and learn along the way. EU has quite a few reliable price check up places, like PE auction and nowadays the ingame price reports as well, so figuring out the price you should be buying and selling specific items at shouldn't be too much of an issue.

For the rest, I think you simply gotta love the idea of being a trader to find it fun. If you don't got that, it's probably nothing for you.

Duke Freedom Wrote:Making money from trading can be done with almost any amount actually, but it is obviously much easier the more cash you have.

dutchie Wrote:I agree with Kaiser.
Actually I perceive it as a lot of work with little fun. It is easier to earn money by taking a RL job.

You know, there are some insane people who find it fun anyway. Just as there are some people who can stand hunting the same beasts for weeks.

Anyway the key requirement to be succesful at trading is patience. If you don't got PLENTY of that, don't even bother trying to make a worthwhile income from trading. General market and trading knowledge is kind of required as well, but one can already start with very little knowledge and learn along the way. EU has quite a few reliable price check up places, like PE auction and nowadays the ingame price reports as well, so figuring out the price you should be buying and selling specific items at shouldn't be too much of an issue.

For the rest, I think you simply gotta love the idea of being a trader to find it fun. If you don't got that, it's probably nothing for you.

duke makes some excellent points as well. The one word of warning I would offer though is be VERY careful trusting the in game pricing. MA has NO safety measures at all to ensure any type of accuracy. Using auction for money transfer throws the in game values way off. The in game prices are very easily manipulated. I usually find that a middle ground between peauction and in game pricing serves best.

I can say this though, when the in game pricing came aorund the unique visitor count on peauction went down. Now that the in game pricing has been a round a while peauction's hit count is almost back to where it was which tells me that people do not trust the in game pricing after seeing it a while.

The other thing that scares me about in game pricing is that stupid first find list. How many times are avatars going to find basic filters and crude oil for the first time. In fact a soc mate of mine found Basic Filters the other day. It was his first HoF and it was a whole whopping 5 PEC. Funny yes and at the same time sad as it was his first HoF.

Yeah, Kaiser is right about the manipulation in game (intended or unintended due to auction money transfers). On the other hand, peauction generally lists prices too low or has relatively less data on items that are oftenly sold at buy-out. Using both is clearly better and if you have the time and you are selling a regularly sold item, it can be useful to look at the prices people list their items at (in auction) as well.

What annoys me most in in-game market value tool is that I'm unable to look for items I do not have in my inventory/trade window/auction. It is much more easier to find item in here by simply searching it's name than to browser auctions just to find out that no one is selling this item atm.