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Happy 2000 readers day everyone. Thank you very much for subscribing to the blog feed and/or gold tips newsletter! Playing the trading post is fun and rewarding, if you know what you're doing. Today I'm going to walk you through much of what you need to know in order to start experiencing the Trading Post Game, as a game, instead of as a chore.
For starters, I want you to listen to this podcast. Towards the end of my segment (first half), I literally walked the hosts through making gold from trading low level armor. You MUST listen to this if you're new to trading as it should fill in lots of gaps as well as show you a clear cut strategy for making money.
Next, I want you to read this post on flipping. By far it's my most popular post on the blog, and probably the reason why Garlic will never be profitable ever again :( /Cry !
There's also a great post I did which summarized 50 different items you could start flipping for profit. Pay attention to the types of items, as you can then go off on your own and find more, similar ones.
OK, so far so good. But this is the part where I lose most people. They go off and they make some gold but they feel that it took too much of their time placing buy orders, listing items (especially moving unstackable armor), and repeating the process. Even if they buy on monday and sell on friday (like I've suggested many times on this blog), things still end up becoming too time consuming.
If this describes you, then you're not lost. You are actually one step away from total success on the trading post. But one thing I've learned from studying people (I sell lots of digital products online, including the forum here, so I know people rather well), is that they always take the easy way out. Like water flowing over rocky ground, people pick the fastest and shortest available path. At this point, you will either take that easy route, which implies finding other strategies and get rich quick schemes, or you will try something new for a change.
Since I presume you're up for the challenge, your next step is optimization. This is SUPPOSED to be fun, and it is, if you keep the right mentality. Your goal here is to make gold faster, and to do that you need to focus on four key areas:
How much you pay.
How much time you spend buying.
How much you sell for.
How much time you spend selling.
On the forums there have been numerous posts to help you work on optimizing your trading post game. But I can boil most of the advice down to this: Question everything you do. Look at how much you pay for something and consider if you could place buy orders at different times. This implies that you study both free websites like gw2spidy and paid ones like goldwars2. Optimize everything, from how many buy orders you place, to how many items you list for sale. EVERYTHING can be made better, just like you can always discover new strategies. The trick is to build a sort of portfolio of go to methods for making gold, without losing track of the ones that worked in the past (very frequently old methods become popular within a month of them losing their profit potential).
Avoid over speculation at all costs. I know I talk about it a lot, but when I do, I'm not telling you to put all of your gold into any one prediction. People see golden dollar signs and they go crazy. Don't think for a second that I want you to do that.
Playing the trading post is all about understanding the flow of the market, and how people think when they see numbers. You can tip the scales in your favor with larger undercuts and basically playing smarter. You don't always have to go by a single copper! This is especially true for very expensive items. Buy low, sell normal. That's what I say for every game I play!
Thanks again for subscribing, and please let me know what you'd like me to talk about on the blog. Either comment below or send me an email!