Pfew, it’s been quite some time since I’ve posted anything about Project Trader, the project where I would post a weekly update on mondays, talking about my market shenanigans, and my (in)ability to make any form of decent profits.
I guess my planning went straight down the drain with that one.
I’m still looking into getting some form of weekly update in, but I just don’t know on what day I should do.
Mondays still seem the most likely day for me, as it’s looking most “natural” to me.
Time will tell I guess.
Now, on to the Project Trader update itself.
I’ve been back online for a short 2 weeks now, where I first re-activated my original account with YV in it, and I reactivated the second account 2 days later.
Since then, I’ve been mainly holed up in Jita 4-4, hopeing to piss off the other traders by stealing their profits.
I’ve already tried my hand at some intra-system/intra-region trading, but for this, I’ll need another hauler.
Using an Orca to ferry NPC goods between stations just isn’t so damn efficient. An Itty V will have to do it, if I can be bothered to take it the 25 jumps back to Jita that is.
So far, I can’t say my trading has been uneventfull, as I’ve been able to make about 85M ISK in profits, thus nearly doubling my current wallet.
As I can safely juggle 65 orders at the moment, and my wallet isn’t really fat, I don’t see the actual need of upgrading the amount of orders I can have running for now.
What I did do, however, was train Margin Trading, a skill I would recommend to any new trader.
The ability to put some ISK “on hold” is a very convenient way of putting up more orders, especially when you’re rather short on cash.
Coupled with some very fast movers, I’ve been able to not have to worry about being able to flesh out the amount that’s been put “on hold”.
In hindsight, I should have trained Margin Trading a lot sooner, as I have noticed that it increases my chances at making profits considerably.
I’ve also had some lucky breaks, where I jumped onto opportunities that seemed good, and that did turn out to be just that, good deals.
On the flipside, I’ve also had transactions where the profits turned out much less than desired, purely because the 0.01-isking on them was so great.
This has shown me that I need to a lot more research before setting up large buy orders, be it in amount of items, or amount of ISK put forth.
Luckily, I haven’t incurred any losses thus far. But, it’s only a matter of time before I have to cut my losses on some deals, instead of keeping it in store if said item would ever rise again.
To track my profits, I currently use eve-profit, a website that can be found here.
It’s a free to use website, and easy to use.
Allthough I think that it does a good job at displaying my current level of earnings, I still continue to look for other tools.
As it stands now, I’m just one download away from using the EMMA market tool, which can be found here.
All I need to do is download SQL Express 2008, and then I can use it.
To finish this post for today, I’d like to give you some stats.
Beware, they are not all that impressive.
Initial Wallet: 120M ISK
Current Wallet: 150.9M ISK
Total Sell Orders: 46.7M ISK
Total Buy Orders: 53.9M ISK
ISK in Escrow: 16.3M ISK
Total Profit so far: 87.5M ISK
Best Profit in a single day: 23.8M ISK
Note: All data was pulled from eve-profit, and might not be 100% accurate.