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Trading tips

trading guide tips

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#1 Tywele

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Posted 08 November 2012 - 03:49 PM

Hi guys,

I was always wondering how some people get so much money in Guild Wars 2. I am that far that I found out that those people get most of their money through trading/playing the TP.

But there are some things I'm trying to find out:
  • How much start capital do I need?
  • I can't imagine to make that much money with flipping only. How do I trade without flipping?
  • Is it smart to trade with every kind of item, or should I specialize on one type of items?
  • How much time do you invest in playing the TP and what is your reward/profit?
I'm really thankful for your help. :)
And please excuse possible mistakes English isn't my native language.

Tywele

#2 Velicia

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Posted 08 November 2012 - 05:33 PM

I think you'll be hard pressed to find anyone willing to part with most that information.

Best way is to find a niche and not tell anyone.
Trade in as much as you want, more items = more time.
Generally I spend half my time in game playing the TP now.

#3 Gilles VI

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Posted 08 November 2012 - 05:40 PM

View PostTywele, on 08 November 2012 - 03:49 PM, said:

Hi guys,

I was always wondering how some people get so much money in Guild Wars 2. I am that far that I found out that those people get most of their money through trading/playing the TP.

But there are some things I'm trying to find out:
How much start capital do I need?
I can't imagine to make that much money with flipping only. How do I trade without flipping?
Is it smart to trade with every kind of item, or should I specialize on one type of items?
How much time do you invest in playing the TP and what is your reward/profit?
I'm really thankful for your help.
And please excuse possible mistakes English isn't my native language.

Tywele

I started with 5g, the more you got the the more you make, it's a exponential curve. :)
Me and some guildies try to diversify our investments, but we stick to fast flipping goods, no 50g exotic items.

Edited by Shadok, 08 November 2012 - 08:41 PM.
removed reply to deleted post


#4 NeoSaigon

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Posted 08 November 2012 - 05:43 PM

You're right in that flipping can't make you ridiculous amounts of gold.  You can make a living off of it, but don't expect 1000s.  Flipping, you're dealing with low demand items that sell very slowly, hence the gaps between the sale/offer price.  In order to make the most out of flipping, you'd have to diversify your items, to maximize your sale rate.

I take a different approach.  There are tons of items, methods, crafts, flips etc with 5-10% profit margins.  Do EVERYTHING.  You won't be playing GW2 much, but at least you'll be rich and pretty =P

#5 Gilles VI

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Posted 08 November 2012 - 05:45 PM

View PostNeoSaigon, on 08 November 2012 - 05:43 PM, said:

You're right in that flipping can't make you ridiculous amounts of gold.  You can make a living off of it, but don't expect 1000s.  Flipping, you're dealing with low demand items that sell very slowly, hence the gaps between the sale/offer price.  In order to make the most out of flipping, you'd have to diversify your items, to maximize your sale rate.

I take a different approach.  There are tons of items, methods, crafts, flips etc with 5-10% profit margins.  Do EVERYTHING.  You won't be playing GW2 much, but at least you'll be rich and pretty =P

I spend 20 mins/day on the TP and 90% of all my gold comes from it, it isn't as hard as you make it sound. :)
But yes, it isn't a guaranteed way to instant wealth.

#6 NeoSaigon

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Posted 08 November 2012 - 05:48 PM

Well I'm more talking wealth in the 1000s of gold.  Bulk producing low profit items can get you that much.  Flipping can get you maybe 100g in 2 months?

#7 cthulhuazathoth

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Posted 08 November 2012 - 05:54 PM

Agree ... really is just like playing the stock market but with virtual good. You can go to site like gw2db and keep track of trading price of item and make you best guess.

Is it the best way to make gold will mainly depended on your real life situation and what you consider fun. For me TP trading is not my cup of tea - my time will be better spend in a real market

#8 Tywele

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Posted 08 November 2012 - 06:08 PM

Thank you for your answers all.
But I have a few more questions:
  • When is the best time to trade? Morning or Evening? Early, mid or late week/weekend?
  • How can I predict if the price of an item will go up again if it was low?
  • Should I always buy if the graph of an item at gw2spidy.com is heavily falling. Can I expect that it will rise soon?
Thank you in advance. :)

Tywele

#9 Sans

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Posted 08 November 2012 - 06:21 PM

posting investment tips on a frequently visited forum is never going to work, because too many people will do it, and they will all dump them at once.

see all that halloween crap.

Edited by Shadok, 08 November 2012 - 08:42 PM.
removed reply to deleted post


#10 Tywele

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Posted 08 November 2012 - 06:23 PM

I never said that I want the perfect solution for trading. I only want answers to these questions so I can start trading on my own and learn from it to better understand trading and improving my trading skills.

I don't want a step-by-step guide.

#11 Sans

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Posted 08 November 2012 - 06:26 PM

wait for update notes
log in immediately, buy everything that was changed in the update notes immediately
sell them within 10-30 min to highest buyer when you see the selling price start dropping again.

BLC/Giant Eyes/Iron ore/butter etc shot way up when they were mentioned.

multiply your money within minutes.

#12 NeoSaigon

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Posted 08 November 2012 - 06:48 PM

There were tons of tips, the most prevalent being, invest in fast trade items with 5-10% profit.  You'll have to find these items yourself. =/

#13 JONO51

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Posted 08 November 2012 - 07:42 PM

View PostTywele, on 08 November 2012 - 03:49 PM, said:

  • How much start capital do I need?
  • I can't imagine to make that much money with flipping only. How do I trade without flipping?
  • Is it smart to trade with every kind of item, or should I specialize on one type of items?
  • How much time do you invest in playing the TP and what is your reward/profit?

1.) As much as possible. More money means more options.

2.) A few ways: predict price rises and invest before others. Mystic forge/craft stuff can be profitable at times but it usually gets shut down pretty quick. Market manipulation type stuff.

3.) Largely depends on how much time you want to spend. Try to diversify as much as possible, but make sure it fits with how long you want to spend posting buys/sells/etc. eg I only trade for ~15mins while queuing for/in WvW since I actually enjoy the game for now :P.

View PostTywele, on 08 November 2012 - 06:08 PM, said:

  • When is the best time to trade? Morning or Evening? Early, mid or late week/weekend?
  • How can I predict if the price of an item will go up again if it was low?
  • Should I always buy if the graph of an item at gw2spidy.com is heavily falling. Can I expect that it will rise soon?

1.) Depends largely on what you're trading. As you trade more of ___ item/market you'll usually spot trends and what times items typically increase & decrease in price, so you can profit off of them if you choose to. You can also use gw2spidy & guildwarstrade to make the trend spotting easier.

2.) Very situational depending on the item. If you want some general rules of thumb though: Things that reach their minimum price on the trading post generally won't stay that way for long (through ANet intervention or otherwise). Try to keep relatively up to date on what ANet say before updates, always plenty of tips. Make sure you know where your item(s) are coming from. e.g. Know what materials are used to craft it, or where it drops (e.g. did ANet just buff/nerf drop rates?). No one can be correct all the time, so expect to lose money or miss opportunities sometimes.

Some other stuff:  
-Make sure what you're investing in offers good value & potential profit per storage slot and time you'll have to hold it for.
-Try to keep a price in mind at which the investment is worthwhile and sell once it hits that price. Usually that is something like 4-5x the buy price on cheaper items for me. Obviously, if it reaches that price and you expect it to carry on going up then hold for longer, that just something you'll have to use your own judgement on. (Same thing if the price starts tanking).

3.) Mostly explained above. In short: sometimes yes, other times no.

Edited by JONO51, 08 November 2012 - 07:43 PM.


#14 Gilles VI

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Posted 08 November 2012 - 08:06 PM

View PostTywele, on 08 November 2012 - 06:08 PM, said:

Thank you for your answers all.
But I have a few more questions:
  • When is the best time to trade? Morning or Evening? Early, mid or late week/weekend?
  • How can I predict if the price of an item will go up again if it was low?
  • Should I always buy if the graph of an item at gw2spidy.com is heavily falling. Can I expect that it will rise soon?
Thank you in advance. :)

Tywele
  • Best time to buy is morning, because alot of people will play in the evening, and put sell order (and undercut eachother) before they go to sleep.
    Best time to sell is late noon, before the masses log in you put up some sell orders and people will buy them to do their activities.
    Best time to buy items in bulk is mid-week, best time to sell is weekend.
  • Well follow the update notes, and "upcoming changes" and all that closely.
    Even if the rumors are not true, you can have a nice profit just by the nice pricewave the rumors will have caused.
    This person with the derpface as a picture may say the Halloween speculation failed, well it didn't for me!
    I was in the first wave of people who bought sugar pumpkins and black lion chests in bulk, and even though the rumors were false, I made a huge profit just by selling those items before the crash started.
  • Depends, if an item is falling to its minimum price, then yes! Because then there is almost no way you can make a loss, only break-even or a profit.
    In some situations the price might just fall because the item was not what the community expected and never rise again.
    On the other hand, you have those halloween skins  that are dropping heavely in price, I'm buying as much of those as I can afford, because in a couple of months, in spring or so, those items will be worth aloot!!


#15 Sans

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Posted 08 November 2012 - 08:10 PM

View PostGilles VI, on 08 November 2012 - 07:58 PM, said:

These threads are just some random attempts from people who want to benefit from it their own.
Most advice given here is actually pretty decent.

Such as:
Stay in bulk items, don't go flipping very expensive exotics.
Buy mid-week, sell in weekends.
Flip goods with high transaction speed.

Im talking about long term investment and investing into a specific item.
See any thread talking about flipping or investing a specific item, stay away from it.
Keep away from anything that's being talked about in a public forum.
You'll have to find your own thing basically.

#16 Gilles VI

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Posted 08 November 2012 - 08:16 PM

View PostSans, on 08 November 2012 - 08:10 PM, said:

Im talking about long term investment and investing into a specific item.
See any thread talking about flipping or investing a specific item, stay away from it.
Keep away from anything that's being talked about in a public forum.
You'll have to find your own thing basically.

You think that people are actually stupid enough to read a thread "this item will rise in price!" and then actually do it.
Any advice given here is very standard stuff, that works for almost any item, or shows restrictions on what items to trade.
In a game longterm investments are pretty bad actually..
In any MMO before GW2 anyway, it might be different here because they put in loads of gold sinks.

In other MMO's the netto value of a long term investment was very small because of the inflation and because most of the time your money was immobile (being a single item, multiple items,..).
Where as short term investments allow you to make a quick profit (couple of minutes/1 day/...) and keep making a profit on that expanded capital.

To conclude, there is a difference between people trying to scam others in buying their stuff by creating a false hype and people that are just trying to teach some basic guidelines where people can find it out themselves with.

#17 Shadok

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Posted 08 November 2012 - 08:47 PM

Just a heads up, since I've had to clean this thread up a bit:
  • Do not ask for people to pay you for your advice. If you are not willing to share information for free, simply do not post.
  • Do not move away from the topic at hand in reference to other threads or individuals. If you want to share some tips that do or do not work, simply state said tips. Do not point to other threads simply as a way of pointing out bad information. The worth of information is somewhat arbitrary in this context, and therefore should not be called one way or another as if due to fact.

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