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500 Gold Per Month Method

This is my tried and true method for acquiring 1,500 gold every three months. So basically that's one five hundred gold per month for those keeping tabs at home. It's a super simple method, and it combines a bunch of principles we've seen covered on this blog already. Namely:

1. Identify a market that has a large gap between highest/lowest price throughout the week and has steady demand.
2. Buy low, sell normal.
3. Place buy orders when the price is high, place sell orders when the price is low (I thought this was crazy at first, but it's WORKING).
4. Under/Over cut walls of items to avoid having to wait multiple "market cycles" before your products sell.
5. Be patient. It can take days to both fill and sell orders.
6. Don't worry about buying too much, but do worry about posting too much. Unless of course you have bag space issues, in which case then you should worry about over purchasing inventory.
7. Competition is meaningless when it comes to the fast moving markets. The wave of millions of players makes up for whatever dreams a few people have from playing monopoly too much with their younger siblings.
8. Use the average price on GW2spidy to your advantage. It's around 16 silver. I'll let you use your brain to determine when you should buy and sell from there.

Which market did I play to make this much gold? Unidentified Dyes.

How much did I make? Well 500 gold per month was a good estimate, but usually 20-50 gold PROFIT per two days. Some days are good, others the price never gets high enough for me to sell. It's quite random but dry spells are super rare. If you stick with it and learn to play the game, you'll do quite well.

7 comments:

  1. jokimazi said...:

    According to gw2spidy.

    Average Buying price is 15s 34c

    Using tpcalc, you can clearly see to break even you have to sell for 18s 4c, even at the highest price spikes the price never has hit that mark over past week.

    Do you actually keep the stock for 1-2 months? Since january the price has crossed 18s mark only twice. Even if you bought the cheap stock for 15s 34c and sold it for 18s 35c, it's like 25c profit + lots of money tied up.

    I'm missing out on something here.

    Thank You,
    -jokimazi

  1. Markco said...:

    You're assuming that you will buy at the average price, instead of buying below it.

  1. When you say "3. Place buy orders when the price is high, place sell orders when the price is low (I thought this was crazy at first, but it's WORKING)." Do you mean place buy orders lower than the lowest buy order and place sell orders higher than the lowest seller?

  1. Acolyte said...:

    I'm not sure how this is possible. In order to make 1500 gold you must deal in very large volumes. Say your margin is 10 silver an unlikely amount but even at that margin you need to sell 15000 dyes. And my issue is that, the price where selling would be profitable, will not stay profitable if you offload that huge quantity. How do you sell all those dyes without pushing the price into the ground? Do you sell it 1 dye at a time or do you list all an entire stack of 250?

  1. Anonymous said...:

    Hi Markco.How much gold do you invest? I have 300g, does it worth it for me?

    Thanks for your answer.

  1. Anonymous said...:

    Oh wait, I don't quite understand by "Buyin when it's high and sellin' when the price is low."

    If looking at the trend at gw2 spidy, and you notice that the price for the item is low, then it is time to sell?

    From what I do understand, you will manage to get a faster turnover for your stuff. Hopefully you'll be able to get it for about a couple of silver profit after taxes.... Then... Oh.

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