Welcome to your go-to Guild Wars 2 Gold Guide!

We Need More Writers!

Plethora of Trading Post Questions

When I read this email I felt like I was on some rapid fire question game show with only a few seconds for each answer. So I decided to take my time and slowly craft answers that would help both Tim here as well as anyone else with the same unspoken questions in their mind. Here is the original email:


"I've been making a few silvers on mighty amulet, but someone's been undercutting me lately so I think someone else is onto it. I also use http://gw2tp.net/ to find good flipping items. Usually it's just crafting materials and I've made a bit there too. I just started looking into unidentified *color* dye, but haven't made anything from there yet. I've been putting buy orders for leveling gear (greens) and only a few of my buys have been filled, but I always make a couple silver when they sell. I tried mystic forging major sigils, but it didn't work  very well. How much do you need to put in before it averages out? In your blog it said that you would have to put a pretty big investment in to average out bad luck. I bought a few low level upgrade jewels which are coming in fast enough, but I'm not sure how they'll sell, but we'll see.

I'm looking for shorter term flips. What kind of things do you usually flip when you want to sit at the TP and trade for a bit? What kind of profits do you get when you do this? 

How fast do you usually make gold? If you started at 10g, how long would it take you to get to 20g? I'm not really sure how fast or how much I'm making right now, because I'm still farming other places and selling things that I pick up so it would be hard to say.

I have about 15g to play with right now with at least another 5 in buy/sell orders. What kind of markets would you recommend?

Sorry for all the questions, I just started a couple days ago and I'm still not sure how it's supposed to work.

Thanks,
Tim"

Allow me to paraphrase your questions and answer them one at a time, as best I can.
Q: I want faster flips, where can I find them?

A: First off, congrats to you Tim. You've done in a few days what most people take weeks to accomplish. I assume you already know how to calculate profit and all that good stuff. Now what you need is experience. To get that, I do actually recommend short term flipping. Websites like Gw2tp are not going to help you with that as much as you'd think. (I recommend GoldWars2 instead btw, but you can use whatever you want!) What you need are consistent money makers that can always get you 1 to 10 copper per transaction, times a thousand transactions per day. Believe it or not, these aren't as rare as you'd think.

Here are 50 flipping markets, many of which act the way I've described, especially the crafting materials.

Q: How fast do You usually make gold?
A: I tend to make back 5%-15% of my investment back within 24 hours and 20%-30% if I am going long term with a flip (3+ days). Instead of flat numbers, you need to look at earnings as percentages of investments. If you have a gold, then you will want to have 1.5 to 1.15 gold the next day according to this standard.
You can take risks of course to increase that percentage, but you will eventually make mistakes and the percentages will average out probably to a similar amount. Go with the surefire method of flipping small percentages instead.
Q: I have 15 gold, where should I spend it to make more?
A: There is no perfect answer to this question. But let me advise you on how to spend it. Break up your markets into many different disciplines and item types. Basically, diversify like crazy and avoid over-committing to any one strategy, even ones you are sure will make you lots of gold. Try to invest at least 5-10 of your gold, but keep a solid amount (5ish) for any random market opportunities that you find with the tools you currently utilize.
Good luck, and feel free to ask more questions. Maybe join our private trading forum as well? There are a lot of heavy hitters in that forum besides myself that you can feed off of. In fact, I just did a post on lessons I learned trading weapons and armor. Check it out if you can!

0 comments:

Post a Comment

Back to Top