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Wednesday, February 27, 2013
My name is Nathan and I am writing to you to express my gratitude for your guild wars 2 gold blog. The tips that you have shared with your readers have been extremely helpful, and I cannot express my thankfulness for how much you have helped me become ’unpoor’ in game.
I was wondering about something. When it comes to flipping, is there a certain limit to the amount of gold that you will invest? E.g is it wrong to spend over (number) gold on one day just for flipping?
Thanks again, once more, you are amazing ^-^
Great question Nathan, and let me just say you don't have to flatter me to get an answer. Just playing, thanks for the email. Getting back to your question, I sent you a very brief answer via email but with today's post I want to flesh out a larger response.
Allow me to rephrase your questions into a single one:
How many buy orders should I place?
When I place a buy order, I assume that the money will not come back to me for several days. That is a very key point for anyone getting into the Trading Post for serious amounts of gold. If you want a quick one hour flip, you won't be making very much for your time. But if you sit on large buy and sell orders, waiting out daily ups and downs of the market, then you will earn far more for your time invested. I usually wait a whole day for a set of orders to get fully bought out, then wait another day after listing for everything to sell.
So if you need the gold you're investing within the next 48 hours, you probably shouldn't be investing quite as much as you are. You should also spend at least some time playing faster markets (like crafting materials) which could flip for a profit within a one hour period. You just won't be getting a ton back for your time. That being said, I still do this kind of flipping when I'm bored just to diversify and pass the time.
Besides the amount of gold you want to invest overall, you also need to consider how many buy orders to place per item. Just because you buy a thousand rings does not mean you'll sell them all in a reasonable amount of time. Especially items at the bottom and top of the spectrum (level 1-10 and level 70-80) you will find it easy to fulfill buy orders fast but difficult to sell just as quickly.
My rule of thumb is to double the amount I buy only after I've fully sold my originally acquired stack of items. So if I buy 20 mighty rings one day and only sell 10 in a 24 hour period, then I wait a week to see if the others sell. If they do, then I try buying 40. If those all don't sell in a week, then I scale back down to 30 or even 25.
Hope that answers your email and clears things up for anyone else having a similar issue.