We Need More Writers!
The blog temporarily went down when my email account was hacked. Since gmail and blogger are linked, both were temporarily inactive. I am back online and going through your emails once more. I'll try to get a post up with some new questions and answers tomorrow.
Hope all is well in GW2 for you and making gold on the trading post!
"Hello! I have been watching a certain market, and wanted to share it with you. Right now, blueprints could be a very good item to invest in. With less and less people getting achievement chests, the supply has gone down on the blueprints, and demand is starting to increase. Many of these are a fraction of the vendor cost, and will go up with some time. I personally do not have enough gold to do a good investment, buy I figured maybe you would be able to profit in it. Best of luck!"
I like this idea quite a bit. You take an item that has potential to grow (reward) but currently costs a fraction of what it has in the past (risk). Low risk, high reward. I'm all about it! Thought I'd pass the information on to everyone else so they could take advantage of this long term strategy as well.
Oh my god. ArenaNet is sending us cryptic messages that, once deciphered properly, reveal exactly what to invest in right now. I'll give you a list of what to buy first, then I'll tell you why. Sorry, I'm not revealing how to use my secret decoder ring. Just remember to drink your ovaltine or I'll put soap in your mouth.
1. Magic Find Gear. Especially Rings and Amulets.
2. Tier 4, 5 and 6 Materials
3. Tier 1 Materials for the Mystic Toilet
4. Level 60+ Fine and Masterwork Items
5. Level your Crafting. All of them. Now. Why are you still reading this? Go!
Magic Find Gear
Why magic find gear? Because people are selling it now with the new news. But they are going to convert it to something else in a future patch, which will hopefully be something like a new stat or just straight up vitality or toughness. Maybe they'll let you turn the magic find gear in for skill points or gold. Who knows, all you know is that you will be fairly compensated for owning magic find gear. So why not stockpile some?
Tier 4, 5 and 6 Materials
Tier 5 and 6 materials will be combined into the "new tier of crafting materials". Guess what, that means that tier 4 will probably become temporarily more valuable than it is now. So get some of it stockpiled for the crazy day the changes are implemented. But tier 5 and 6 are a sure bet for profit in the future as well.
Skill Points and the Mystic Toilet
Save up your skill points, they are about to become a lot rarer as people use them up on the new content. Even with skill points coming from champion chests, they still won't be all that common. This means that the tier 1 mystic toilet combinations will once more become a fountain of gold. See my forum guides for more information.
Salvaging Fine and Masterwork Garbage
Salvaging fine and masterwork items is finally going to be "worth it." I'm assuming they have to mean the higher end stuff, which truly is completely worthless at the moment. If it becomes even just a little profitable, then there's opportunity to salvage for money. Or maybe we'll all just sell the items to people wanting to gamble on the salvage rewards, but my guess is that the money will be in salvaging for the first few weeks at best. Then things will eventually bottom out since the supply will be just as crazy as it is now.
Time Based Crafting? My God!
This is exactly what I talked about in my podcast on The Siege Podcast. Time restrictions for learning recipes and creating items. If implemented correctly, I finally won't have to just sell to my fellow crafters... my god we might have a real economy on our hands.
Excuse me while I smoke a cigar, sit back on my red fluffy chair before the fire, drink my cognac, and plot world domination.
I'm about a hundred emails behind right now. Please continue to send your questions, but give me time to respond. I will post a lot on the blog if they are questions that I believe will help most people.
"Hey! Thanks for the e-mails, im just starting out on the trading post
and am having a relatively hard time finding markets to invest in. I've
got ~50+ gold on my account. Basically what im asking for, is tips on how
to find items i can invest in. Preferably items that i don't need to
order thousands of to make a few silver profit. Thanks!"
OK Max, I'll play this game. Unfortunately for you, I know that in the end you will probably lose all 50 gold... Unless of course you read the following warnings before diving into the answer to your question:
- Avoid investing more than 50% of your money at any one time.
- Do not invest all of your capital into any one market or even type of market.
- You should use some of your money to experiment each week in new markets, even when you feel comfortable making gold from a select few.
- Read the markets I suggest, but then do research on similar markets of the same category on the trading post.
- Maybe even look at the same type of market, but at a different level or quality of item.
Alright then, here are a bunch of markets to experiment with. Keep in mind that some of them doubled in price due to me posting about them months ago.
You're ordering too many different types, when you should be increasing the quantity on each individual buy order. Your method is what you do for starter cash, not consistent income. Try focusing on other items and place 100+ buy order on each item. Only select a dozen or so items, instead of 50-250 pieces. Yes, you can do this with armor, like low level armor, but not the higher stuff that only sells 1-3 pieces every hour. You need to sell dozens per hour! So that often means smaller profit margins to get the faster turn around.
Sometimes I make my bids on items which seem to fetch a good price if I can sell them, only to discover that they move very slowly and don't sell as fast as I would like them to.How do we interpret the graphs on GW2Spidy to know if a market is moving very fast?
First off, you want to look at just the Buy and Sell Listings Volumes. Those are the two mid-bottom lines, so turn everything else off as shown below.
Now you are just looking at the number of orders people put on the item over time for both buy and sell orders. You want to look for two scenarios:
#1. Buy orders going up close to the crest of the blue lines then dropping back down to further below it. If this pattern of going up and down beneath the blue line is consistent, then you have something worth flipping at certain points of time, but not others. That is ideal! You just have to get in when the gap between buy and sell is large enough to make a profit, then get out before the window of opportunity closes again. Look for items that fluctuate greatly to provide you with the most consistent profit. Doesn't have to be a large amount of fluctuating either, as a couple copper swing for many common items is enough to make them worth flipping.
#2. Buy orders going up above the total number of sell listings, then the two lines reversing suddenly in direction. This is an opportunity where demand shot up for the item and couldn't be met by the number of listings (or the price got too high so people only placed buy orders to obtain it). While these changes are usually not predictable, you can look at the dates they occurred and learn quite a bit about the economy.
Hope that helps!
Here's a great question, followed by an answer to get you guys moving in the right direction as Dragon Bash ends.
First I'd just like to thank you for all your guides, I really appreciate your work and hope to see much more in the future.Any who, as the title states I have some questions about dragon coffers, I noticed that they have went up a few copper the last days as Dragon Bash is about to end. Since you still will able to get the skin-tickets from them when DB ends but not the coffers themselves from mobs i figured that they will continue to go up in price as time moves on.Is my reasoning correct? or is the supply simply too high to make it profitable?If it is profitable, when should i place orders and how long do you estimate I'll have to hang on to them?Again thank you for all your help."
Took me three hours, but I made 30 gold two days ago using the Euphoria method. Is that a good name for it? I dunno I'm going with it lol.
This method is epic for people just starting out on the trading post, and it will teach you how to be a patient player of the market place. Then, once you're ready for the big leagues, you can learn to play the much faster moving crafting material markets.
Here's an great question that Mai sent me, along with my answer.
Some tips form my MF Gearing experience, courtesy of a newsletter member, Adriana:
Do you experience a sense of euphoria when you collect gold from the trading post? When you say the words "auction" or "trading post" or "business", do you revile in the way each syllable rolls off your tongue? If you answered yes to these two questions, then you probably don't need my help any longer. Well, you're at least on the right track. If you said no to them, then this post will help move you to the yes column.
I am playing a very easy market, among countless others, known as Duelist Chain Gauntlets. Here are the steps to playing this item:
As you can see to the left, 84 is the highest buy order currently. There's a decent amount at 78 copper so I definitely won't go higher than that number. The profit margin for these items is huge (selling at 1 copper 80 silver), so I don't mind going all the way to the top of the buying order. I will place my buy orders at 85 copper. 250 of them to be precise. Yes, your bags get very full doing this method, especially when you play 10-20 markets at once. No, I don't wait for all of them to be purchased, it's just wishful thinking and it plays with competitors' minds. If you wanted to remain incognito, I'd recommend 25-50 buy orders. But if 51+ are going to be bought, I'd rather just make the 250 buy order here and now, instead of leaving free gold on the table.
2. Pick up your winnings.
3. Sell, Sell, Sell!
Yup, you're going to run out of bag space pretty quickly. As you go to sell your items, try to pick out the four pieces that have the largest quantity currently in your bags, as shown below.
After you sell each of these for 1 copper cheaper than the lowest price (or equal to your current listing should you have more of the items selling on the trading post), go back to the pick up tab on the trading post and take all. Keep opening, checking four highest, selling, and re-opening until your bags are empty. This does take time, but if you choose your markets wisely (as I've shown on the forums many times) then your profit margins will be insane. Several of the items in the screenshots above weilded over 200% profit. Buying for a silver and selling for 5 is very fun.
By the time you figure this post out and how to adapt it to your current strategy, you'll be well on your way to answering yes to the first two questions I posed to you today.
Feel free to cancel your buy orders at any time, especially if they get buried by your competition. Give yourself at least 48 hours before cancelling your sell orders. Since your profit margins are so big that 5% really doesn't matter, but it's hard to keep track of what you've canceled, so I would advise against spamming it. You never know when demand will shift and your items start getting purchased again, even with a lot of competition. Trust me, low level pieces are ALWAYS in demand.
Adriano, an email subscriber to this site, had this to say about the first 7 tips (there are over 20) currently given out to blog subscribers. This service is free, and you can join as well by signing up on the right side of the blog's interface.
I have blanked out some of the references that give away the better tips. Left a lot in though. Subscribe and you get the rest! Plus all the other emails that come each day with more tips.
2) --- ----- ----: always profitable market, especially for -----/----- prefix. Also going to exp another alt or doing Story-mode dungeon with high-MF Gear (about 150, I have 200) will make you loot a lot of gear low-level that could be very profitable (AC/CM on top of all since the 30-40 markets can make you gain 4 silver a piece, even 6+ silver in particular cases).
first let me thank you for your great blog! With your tipps and tricks I was able to make my first 100 gold (mostly through flipping low level armor)! I did not have much success with crafting materials. Lost some gold on eggs when they dropped from around 40c to 20c (still not sure where this drop in price came from or if 40c was just a very high price). But I want to try again in this market and need to keep better track of the prices.
I have one question though: How do buy/sell order stacks work? Is it last in first out? When I list item for sale I usually undercut by 1c but I sometime have the impression, that when other sellers just add to my lowest sell price their items are sold first? Do you know how this currently works? It seems like the methodology changed trough your blog posts.
Congrats Meng, thanks for emailing me.
The buy order is last in, first out (I believe) and selling is first in, first out.
These 10 posts should help change the way you think. None of these are get rich quick schemes. Some are solid strategies, but most are aimed at fixing your mindset towards the Trading Post. Enjoy, and please comment below with additional questions you have after reading these. Email works too!
1. I Just Need 20 More Gold
2. Basics of Trading
3. Controlling Markets
4. Math for Minimum Profit
5. How Can the Trading Post be Fun?
6. Impulse Buyers Buy This Item
7. Failure, The Best Option
8. How Much Should I Buy on the Trading Post?
9. Market Masochist Markco
10. Where's the First Gold Making Strategy?