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Tuesday, August 27, 2013
We know that the 500 level crafting patch is coming sometime this year, so a lot of my posts will deal with speculating on this topic. Also be sure to join our forum to discuss what’s hot or not for this coming patch! Today, however, I want to get you into the correct mindset for making gold from all changes to the game, not just one patch or update.
Speculation on the Trading Post is not something you pursue when you’re low on gold in order to get lucky and strike it rich. If you need methods for acquiring a starter pool of gold, consider the posts I’ve done on flipping, mystic forging, opening bags, etc. Those are far better strategies than following all the hype on certain items before each patch. Here are the ground rules I have for speculators, and I highly suggest that you follow them.
1. Keep expectations realistic. I’m more than happy to earn 10-20% of my investment from patch speculation.
2. Don’t overreact. If an item spikes on patch day, sell most of your lot but not all. There’s always the chance that long term it will continue to increase. Same goes for if the item plummets.
3. In the end, speculation is gambling to some degree, but you can stack the odds in your favor through research. Play the market like a game of cards, keeping in mind that the masses will likely over-react to any changes in the market. Be cool and don’t follow their lead.
4. Control the amount of gold you spend on speculating. Use buy orders slowly over time to build up a stockpile, instead of binging all in one day. Look up dollar cost averaging to see what I’m talking about.
5. Speculate with the gold you’re willing to lose. Don’t sacrifice daily trading post activities for a supposedly “big score” from speculating.
You may be wondering why I bother writing these kinds of things. Perhaps you believe that people won’t change; that they will simply remain ignorant sheep in the mindless trading post flock. Let me tell you a little story… I was playing Black Ops 2 Zombies yesterday and came across someone in a public game who was making fun of me for having such an in depth knowledge of weapons, game mechanics, and strategies. Needless to say, when he was dying by round 20 and I was easily ending each round of our four player game solo, he took noticed and started asking for advice. This blog has a very similar effect on people who are failing at the trading post. They see success, and they want to learn to be like that.
Hence why I write posts like this one. Plus, it’s nice to not name one of my markets only to ruin it for the next two weeks haha. Oh, just curious, anyone interested in a black ops 2 zombies blog? I really enjoy playing that game and am considering creating another site for it, just like my Diablo 3 and Guild Wars 2 blogs.