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Confessions of an Instant Gratification Auctioneer

I have this little problem. It begins when I place a few dozen or even hundred buy orders. Within minutes, I look at my gold count and feel the urge to cancel all the buy orders. This urge becomes stronger the more items I win through buy orders and the more money I get back from flipping in a single play session. Within an hour I'm itching to cancel everything and see what my gold is now up to.

This is a tremendous waste of time! Fight the urge to cancel buy orders at all costs! Having to re-enter all the numbers again in order to create new buy orders costs you time which therefore costs you gold you could be earning else where.

Time is money! Fight the urge to cancel.

I like to cancel buy orders after 24 hours and sell orders after one week. These are simple, solid rules to live by.

3 comments:

  1. Anonymous said...:

    BTW cancel buy orders for exotics after 3-4 days

  1. Babs Seed said...:

    There are several markets I have and do play where people are willing to stack buy and sell orders on top of mine. In those instances, I won't cancel my orders until looking at current prices first. If I need to readjust the price I'm buying at, then I will cancel, otherwise there's no point in pulling out of the queue and going to the back of the line.

  1. The Black Lion said...:

    I have some very speculative buy orders that can stay on the Trading post for anywhere between 12 - 24 days. They are all set to the lowest recorded price the item has fallen to on the graphs over the last 3 weeks.

    For example, I can "set and forget" 20000 buy orders for a certain crafting material which constantly fluctuates by 30 copper. As the price falls and rises over the days and weeks my buy orders are very slowly fulfilled.

    Once all orders have been fulfilled or another 3 weeks have passed I will wait for the item to peak and slowly drip feed the stock back into the market for anywhere between 50% - 70% profit.

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