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How many times while leveling did you have to do an underwater quest only to realize that your level 10 harpoon gun was garbage against the level 36 elite you found in front of you? That same situation plays out many thousands of times per day in Guild Wars 2. If you're smart, you'll be the one selling the shiny harpoon gun to the player who just wants to get done their quest and move on to more land based leveling.
Here is one of my favorite strategies for flipping underwater weapons. You can reuse the method behind this strategy for fine, masterwork and exotic weapons as well.
Search on the trading post for:
- level 35
- weapons, choose one:
- harpoon gun
Optional: Place the word "strong" in the search bar as these are the most likely to sell quickly.
PS: Forum members, please check out a cool new strategy for turning skill points into gold. I was able to make 1.5 gold per skill point!
I was successfully flipping +4 and +5 Agony Infusions last night. Each flip was around 30 silver profit and took 5-10 minutes for the buy/sell orders to complete. I believe that the price of these infusions will continue to increase until the end of the Thanksgiving holiday weekend. Get your flips in now, but do not flip with gold you can't afford to lose. Worst case scenario: you end up with an infusion you'll use but end up paying extra for in the long run.
For a long term flipping solution, I recommend buying the +1 Agony Infusions. While the other infusions are likely to drop in price, I believe that this one has not reached its true potential yet. At the very least I expect to sell these on Sunday for a nice profit.
Go to the Trading Post and put in the following search criteria:
"Agony Infusion" in search bar.
Select Upgrade Component.
Above is the search criteria I use to find containers which net a profit when you flip or open them.
Many players misuse the term "bags" in Guild Wars 2. While we all use that term to refer to items which we can equip that increase our inventory size, some people also use it for Containers. A container is an item which you can open (destroying the contain) to reveal randomly generated loot.
These containers all have certain loot tables which, when properly mapped out, can reveal profitable flipping strategies for the materials within them. That is your job if you're interested in selling these items. There is plenty of research already done on wiki's and within our private forums.
In other cases, you don't even have to open the container in order to make a profit, since the highest buy order is often significantly lower than the cheapest listing price.
Containers do not move quickly when you're trying to flip them, so don't play them like other fast moving commodities (1 copper less than lowest listing). You are much better off buying the containers with a buy order and then undercutting your competition by as much as 50%. This ensures a fast sale which is a big deal because I've had containers take weeks to sell due to undercutting. Since things like salvaging monthlies and other events can greatly influence the price of what's inside the containers, the containers themselves also adjust in price.
Head on over to the MMO Reporter for a podcast on Fractals, Gold Making Tips, and much more. I go through several simple strategies for making gold in game, along with a few predictions for the Fractal markets. The Mystic Forge strategy I reveal is especially enlightening.
I have a post coming out tomorrow on another unique market which you can all play. See you all then!
I came up with a very simple system for eyeballing markets to know instantly if they are profitable or not. Since we know that 15% of your sales get eaten by fees on the Trading Post, many players have resorted to multiplying the sell price by .85 or dividing the buy order by .85. This is rather time consuming if you have to check every single item that you're posting. My solution is so simple it will have you calculating profits on the fly without constantly having to input the numbers into a calculator.
Since 15% of sales go to fees, we know that every silver equals 15 copper in fees and every gold equals 15 silver in fees.
So when I see an item that will sell for 2 silver 20 copper, I do the following in my head to find the fees:
2 silver = 30 copper in fees.
If the buy order is lower than 30 copper less (1 silver 90 copper) then it's profitable for a flip.
See how easy that is? Let's do another where I get a little more complicated...
An item sells for 4 silver 50 copper.
4x15 copper = 60 copper in fees.
5x15 copper = 75 copper in fees.
I know that 4 silver 50 copper will then have fees right around 67.5. So As long as I get the item for less than 3 silver 82.5 copper it's a deal.
That one example was may seem intimidating, but I could make it a whole lot less complicated by simply saying: if the item can be bought for less than 4s50c - 75c I know it's a great deal. Use this strategy however you want, either with the complicated way (if you can do that in your head) or the much simpler strategy of rounding up to the nearest silver and taking away 15 copper times that amount. Obviously with gold you take 15 silver per gold, and honestly I ignore copper when I'm selling an item for more than 1 gold.
I had a rock solid day of trading yesterday but it was boring as hell. This strategy is so easy that a small child could do it (hint hint parents out there!). Allow me to walk you through the mind numbingly easy world of playing the dye market.
No I don't mean rares or even masterwork. We're talking about fine dyes (blue)!
Now we're ready to place some buy orders (super boring part incoming!).
Left click on the first dye and make note of the lowest listing. Multiply the listing by .85. So if it says 1 silver 30 copper, that would be 1.3 * .85 = 1.105. That's the same as 1 silver 10 copper (always round down). I personally want to make sure that I'm making 10 copper per transaction, so I'm only going to play this dye if the buy order is less than 1 silver.
Left click on place a custom offer to view the buy orders. In this example, I saw that the lowest buy order was 90 copper. If the price is acceptable then you'll want to put a buy order in that's one copper more expensive (91) of 25 orders. Like the screenshot below shows:
Click the place order button to finish the order. After the word "Success!" appears in green beneath the place order button, you will want to left click on the item. In this case it's "Clove Dye", and after you click on it then you will be returned to your previous search results.
Move on to the next dye and continue doing this. Luckily, they will almost always be extremely similar in price, so you won't have to do all that math over and over again. What you will have to do though is place a lot of buy orders. I mean ... a lot. But it's totally worth it and who doesn't have a few silver lying around that they'd like to turn into gold?
Whenever I try this method out I really focus hard on finishing all the buy orders but usually get distracted about half way through. Don't feel bad if you can't stomach placing the orders on every single dye, as it can be so overwhelmingly boring. When you're done go do other things in the game or log out. DO NOT BABY SIT THE TRADING POST WAITING FOR DYES. They will all get purchased, don't you worry.
After a few hours you will return to a massive number of dyes. Don't cancel your buy orders either, I notice a lot of people do that and in this market it's a waste of all the time you spent creating them. They will eventually get bought, so just leave them alone.
When you sell each dye, click on the match lowest seller radio button and then go up to the "Unit Price" gold/silver/copper boxes. You can then undercut the lowest seller by 1 copper, as shown below.
Sometimes the Quantity field will be less than the maximum number of items in your inventory. If that's the case, it will be bright white. Click on it any time that happens, and ignore it if the button is greyed out like in the above screenshot.
If you make 10 copper per dye and you're able to flip 2500 dyes (100 buy orders of 25 each), you will be earning 25,000 copper or 2.5 gold. Now, in most cases I was making more like 20-40 copper per flip, which is definitely a lot more than 2.5 gold! Nevertheless, this strategy is only as good as the amount of time you're willing to mindlessly place buy orders on items that all look alike. Do not underestimate just how quickly this strategy gets old. But if you need gold and don't have a lot to work with, this is a great way to get more.
When you finish creating your buy orders and come back to the game to collect your gold, you may notice a few dyes are still not sold. That's OK, and I want you to NOT CANCEL those listings. That costs you money and rest assured that eventually your dyes will sell. Besides, you will usually only be left with like 5% of your original buy orders unsold and that's nothing to panic about. Like the screenshot below when I finished selling about a 1000 dyes and had these left over:
Enjoy the strategy! If you think it only applies to fine dyes then you're going to miss out on other markets... and I'm not just talking about dyes here people. Do some research and find other item categories like this one.
Check out the GW Reporter Podcast for a soon to be released episode featuring yours truly. I literally walk the hosts through making gold on the trading post in four very unique ways, as well as reveal a few predictions about Christmas and Fractals that have been swirling around in my brain the past few days.
Thanks again to GW Reporter for being such gracious hosts and letting me join in on their fun. Maybe I'll get to do it again some time!
I'm going to pick out my favorite parts of the recent interview with John Smith. Feel free to read the entire article here. Seriously, I have a real man crush on the Guild Wars 2 economist, and here's why!
1. Intriguing Crafting Tips
"What place do you feel crafting has in the Guild Wars 2 economy?
John: Crafting is an interesting topic because it’s so much different in Guild Wars 2 than in other places. One of the primary differences isn’t actually caused by the crafting mechanics or recipes, but by the global economy. There’s opportunity for profit from crafting all the time, but the economy is so large and efficient that those opportunities tend to go away really fast. Others will pop up to replace them, but it can easily give the feeling of inability to earn a profit with crafting. We recently added some necessary recipes with cooldowns to help crafters easily sell something that’s worth more than the cost of the materials going in. Overall, crafting and the mystic forge both play a huge role in redistributing goods inside the economy as well as adding flavor and fun to the gameplay."
John has a tremendous knowledge and understanding of not just how the numbers behind our beloved guild wars 2 economy work, but also how people react to them. Opportunities in crafting appear and then are silenced once enough people compete for the same materials and consumers. Prices are constantly re-correcting to the point of making something no longer profitable, but the key take away is what John said about new opportunities replacing them.
Using tools like gold wars 2 allow you to instantly pick out which crafting recipes are profitable. Also, having a stash of materials in your bank obtained with super cheap buy orders will enable you to sell items for a profit when everyone else is posting for a loss!
Example: You buy wool cloth on buy orders for 45 copper. The next day wool is selling for 60 copper buy order, and that's because overnight the price of several items like wool insignias rose in value. Wool went up to meet the prices of the new items, making crafting with 60 copper wool way too expensive to be profitable. But you bought it yesterday at 45 copper, so now you have an advantage over anyone who is trying to buy at 60 copper.
If you're a crafter, start keeping track of when your materials are cheap and buy extra at those times. This same logic applies to the mystic forge. The more crafting and mystic forge strategies you are aware of, then the more opportunities you will be able to cash in on as they appear. Cast a wide net and diversify people!
2. Informed Perspective on Players
"How would you compare the way people make money on the trading post in Guild Wars 2 to real world markets?
John: The short answer is: I wouldn’t. I would compare the people. Markets in any major economic system can be hard to understand and predict, and I don’t think this is the medium for a long discussion of virtual and non-virtual economies. However, I think it’s much easier to compare people. While it’s glib to reduce people into individual archetypes, I’ve noticed several types of players in-game that I’ve also noticed as players in real-world financial markets. A good example is the casual investor. In “real life,” this may mean someone who researches their own investment plan or spends their free time studying a specific market for investment. They make fewer but larger trades, and if effective, earn a larger gain than someone who may have not spent the time. This same exact behavior can be seen in Guild Wars 2; the markets are slightly different, but the behavior pattern is the same. In Guild Wars 2 we see a lot of comparable play/personality types that I think have direct corollaries in the real world."
John made it a point to only focus on one type of player: the casual one. These players make up the vast majority of consumers and buyers, so it makes sense that John is so focused on them. He said that they buy/sell small quantities of expensive items. I believe this has to do with the grinding nature of most rpgs; you grind for hours to get enough gold to buy a really expensive item. This makes grinding a little more efficient or helps you reach some other goal like being more useful in fractals.
With new items on the horizon, it really makes sense to be able to sell the expensive materials that players will need for their ascended gear. If you want to get rich later then you better max your crafting disciplines asap.
3. John Understands Time = Gold
John was directly responsible for the 24 hour limit on crafting ascended items. This will be an awesome way to reduce supply and keep crafting profitable for a long time.
4. Hatred for Hackers
"What sort of market manipulation do you most commonly see?
John: The most common market failure I see is asymmetry of information leading to insider trading. This means that players gain knowledge they shouldn’t have through any of various nefarious means, and use that knowledge to gain an advantage on the standard trader. Overall it’s a negligible, but noticeable, impact that I see every couple of weeks. It’s a secret, but: we have plans, and this will soon become an even worse idea than it currently is."
What John is likely suggesting here is that ArenaNet will deliberately leak faulty insider trading information in order to hurt people who try to speculate through unethical methods. This doesn't apply to someone like myself making assumptions based on patch notes, but it does apply to anyone who datamines or hacks to get more information.
5. Disproving the Myth of Market Manipulators
"It is often claimed on the forums this or that market is being monopolized does this actually happen? How long can one player or groups of players control one market for?
John: This comes up really often, and so far there’s nobody monopolizing any major market. That is to say, in every major case of market change that we’ve investigated claims of market control, I’ve yet to find any. That doesn’t mean that there aren’t individuals or groups attempting to manipulate and control markets for personal gain – there definitely are. What it means is that any major market in Guild Wars 2 is just too big and has too much velocity for players to maintain any kind of hold on that market for long. The smaller, lower-velocity markets are more susceptible to monopolistic or oligopolistic behavior, but the profit from those ventures is also diminished. Most players with ambition or finances have better ways of earning income."
I couldn't agree more. So if you use the excuse that people are controlling your market, think again!
A blog reader and forum member emailed me this terrific question:
Instead of placing buy orders of 25, 50, 100+, you should put a single buy order for each one.
If you are undercut by dozens of sellers, post the item so that you will earn one copper from it. Divide the price you bought at (convert the total cost into copper to make this easier) by .85 and then add 2 to correct for rounding issues. Post for that amount.
Does that help?
PS: A good trick for instantly looking up what an item is selling for is to right click on it in your bags ("I" key opens bags) and then select "buy more at trading post." That takes you straight to the buy orders and sell listings for the item, instead of having to type the name into the search bar.
A while back (pre halloween of this year), I predicted that Gems would rise to 10 gold by Christmas. Well, it's starting to look like I was wrong, as they could easily surpass that number! Even though gems have obnoxious taxes compared to all other transactions, they make you a lot of gold, provided you bought in back when I told you to on the secret forums (link goes straight to the topic).
People have pointed at different events and specific items for sale on the gem store as reasons for this increase. But they're all wrong, and I'll prove I'm right by summer time.
What causes gems to rise in value? The high school players. They get more and more time off at this point in the winter as well as during the summer.
From October to November of last year, gem prices steadily rose, before reverting to a much slower pace from January to June. July to October saw a little bit quicker rate of growth, but then things once again exploded during October.
ArenaNet has statistics on when the most people will play their game, and they act on that information by providing deals on the gem store and releasing new content.
Gems will always continue to grow in value as long as they update this game, so you're best bet is to buy them either right now or in January, then sell a year later during the Christmas holiday.
|Silk Scraps and Thick Leather Sections|
- The crafting recipe for Bolts of Silk now requires 3 Silk Scraps.
- The crafting recipe for Cured Thick Leather Squares now requires 3 Thick Leather Sections.
Silk Scraps appear to have a lot more room for growth, so even though they've already doubled in value, I still think they are worth investing in. If Thick Leather Sections remain at 8 copper then I fully expect ArenaNet to eventually make Cured Thick Leather Squares require 4 Thick Leather Sections.
We've learned yet again that ArenaNet will work to make items worth more than their vendor value + 1 copper on the trading post.
What's next I wonder?
Track your progress over time, and eventually you'll understand how certain markets change in cycles.
Sometimes when I look at the items in my Pick Up tab on the Trading Post I wonder... "What the hell was I thinking?!" This is because the items look like a completely random assortment of crafting materials, armor, weapons, and dyes. I can see why such a setup would be incredibly discomforting to most traders; I mean just look at the screenshot below:
You have three slivers, two cooking materials, and a bag of provisional materials... Ha when I wrote that I was humming the 12 days of Christmas. Such an assortment of random loot seems complicated, but it's not. The profit from just these six markets alone will be in the vicinity of 3 gold, and it took me seconds to create the buy orders.
What's my secret? I'll tell you!
1. Crawl through the different item categories on the trading post. I call it crawling, you may call it exploring, but basically you click on an item category, a sub category, and finally select an item quality. Next you go through all other combinations for that sub category before moving on to the next and the next and the next. It's painful at first, but as you find more markets that are easy to play, you'll feel the time was worth the effort.
2. While crawling, you need to record on a piece of paper, spread sheet, google document, etc each market you find that is profitable. What's profitable? Multiply the listed price by .85 and see if the buy orders are beneath that number. Jot down BOTH numbers, and if you know how, create an excel formula to calculate it for you. An example would be "=B3 * .85".
3. Assuming you took a good hour or two crawling, take a break from the trading post for at least a few hours to clear your head. No reason to overwhelm yourself early on!
4. Log into the trading post and start searching, one by one, for each of your markets. If you see that they are currently profitable, jot down the prices once more and place a few buy orders. To be safe, use the following guide lines:
Crafting Materials and other Commodities: 25
Dyes, Sigils, Runes: 1
You can change those numbers once you know each item flips in a reasonable amount of time.
5. Come back to the trading post at a later time (5 minutes or 5 hours, doesn't matter) and then take a look at your successful buy orders. For each one, attempt to sell them on the trading post but please be careful! You will want to open you bags ('I' Key) and right click each item to "buy more at trading post." No, you're not going to buy any more, but this automatically opens up the buy and sell orders for this item. If you were to instead try selling from the "Sell on Trading Post" tab within the trading post, then you wouldn't have access to the buy and sell orders!
That #5 step is crucial, and I could teach an entire course on it. There are so many variables, like fluctuating "walls" (a large collection of items at the same price point), people posting items for too cheap (way below the next listed price or very close to the buy order price), so do yourself a favor and check each price. In many cases, you will have an opportunity to buy a miss priced item! If, instead, you didn't check, you might end up selling the item for way too low!
Now that Guild Wars 2 has gone through two sets of holiday events, we can draw a lot of profitable conclusions from these experiences.
Here are three lessons I've learned comparing the price of items this year versus last year, and how that will help me to earn lots of gold next year!
- Stockpile candy corn after Halloween is over and the price plummets.
- Stockpile Watchwork Sprockets after Christmas is over.
- Purchase pink dye mid winter and then sell during breast cancer awareness month.
What have you learned about the holiday events in Guild Wars 2? Do you have anything stockpiled for Christmas such as the gifts, snowflakes, or food items?
This guide is one of my favorite ways to make gold. How much you make will be dependent on so many random factors that there's no point in counting on this as your only method for being successful on the Trading Post. If I had to come up with an analogy for this, then I'd have to go with fly fishing. You sit, cast your line just right, and almost every single time you'll get a fish in the exact same shadowy location of the river.
Anything below 85 copper should be purchased immediately. Now, here's where things get a little tricky!
Salvaging a fine quality piece of armor gives different results based on the item category (Heavy, medium, and light). I'm assuming that you are using basic salvage kits.
- Light armor produces cloth.
- Medium armor produces leather scraps.
- Heavy armor produces ore.
- Weapons can produce either ore or logs.
In order to "refresh" the values, you must click search and once again sort by price. Sometimes, if you're not fast enough, you'll get a "Sorry!" message when you try to buy the item. That just means someone beat you to the punch!
Here is an example of how profitable this search can be:
That's 6 silver 75 copper profit on a 64 copper item!
Also try weapons, fine, level 0-80.
You can use the exact same strategy to find cheap masterwork and rare weapons/armor. Just change the filter from fine to the masterwork or rare category.
With regards to the masterwork, the cheapest items have a vendor price of around 1 silver 30 copper, so anything below 1 silver 75 copper is usually a great deal. Rare items at or below 4 silver will flip for great profits.
My typical camping session will involve cycling between Armor Fine/Masterwork/Rare and Weapon Fine/Masterwork/Rare. Also, don't be afraid to look at some of the items that fall above my recommended purchase price. Many of those are still incredible deals for much more expensive items!
Have fun camping the trading post!
If you liked this guide, then maybe take a look at my flipping series or gold guide.
I've noticed an overall gain in prices across the board for crafting materials, especially the ones that plummeted during the 500 ascended armor crafting patch and magic find updates. My theory is that people have managed to accumulate a decent amount of luck (magic find) and so there isn't as many crafting materials from salvaging entering the Trading Post marketplace.
If you're behind on magic find, consider this secret strategy that enables you to make back the majority of gold spent on salvaged luck, and may even earn you a small profit.
Remember my post prior to the ascended armor and magic find patches? I said to buy lots of crafting materials from all tiers. While I acknowledged that prices could potentially take a hit, I knew that eventually they would climb beyond their original starting points. Well now they finally have, and one great example is the Heavy Bone market. That item is up over a gold since the patch price. (1.13 silver to 2.16 silver).
While these crafting materials rise in price, new opportunities are appearing through salvaging and even the mystic forge. See my forum post on mystic forging for an easy to copy example.
I expect prices to continue to rise throughout the week, possibly taking a slight dip in the beginning (Monday - Tuesday). This is a good opportunity to buy now not for the purpose of flipping, but for mystic forging next weekend (starting Thursday or Friday night ideally).
Just to be clear, I am not telling you to invest in heavy bones. A wiser choice would be the lower tier items (like "bone" mystic forge into heavy bone) that are currently profitable using the mystic forge. Or to purchase lower tier items that can be crafted for a profit. To discover these profitable markets, try utilizing gw2spidy (click crafting at top), gold wars 2, and if you're new to crafting try this excellent guild wars 2 crafting walkthrough.
NOTE: At the time of this post heavy bones were worth over 15 copper per flip and slowly rising. You can invest in these and other markets, but it is smarter to take the time to look at all tiers of crafting materials as well as all possible ways to turn them into a profit (mystic forging, opening bags, crafting, and standard flipping).
Congrats on the nice profits Lyn. Here's my advice for you:
This person who created a nasty wall in your market is playing by all the same rules as you are, but the only difference is that they are OK with losing some profit in order to create their wall. If you'd like to fight fire with fire, save the items you get from buy orders for like a week and then place them just 1 copper more than what's profitable. You win for two reasons:
1. Anyone who undercuts you will either be farming the items by hand or losing money.
2. If the wall's creator cancels all their auctions, then they will take the 5% sellers fee and be unable to compete with your price.
The best way to deal with walls is to make the market completely unplayable for a short period of time. If you can't beat them, join them, or, just be happy with the profit you can make by undercutting the wall.
I call this the undercutting paradox because you can't seem to win short term regardless of what you choose to do. You're selling for less than optimal profit because of that wall or you start cutting into your profits further by seriously undercutting the wall with your own. It's nasty business, but it can also be a lot of fun to mess with people!
I discovered a new Mystic Forge Method yesterday I've never seen discussed online, and I must say that the Mystic Forge is so underused in the GW2 community. I was making 88 silver on every 45 silver I spent. EPIC ROI right?! And it didn't take too long to sell these items either. So much for this lovely tool being the "Mystic Toilet" as some have called it.
I've added this new strategy to the Markco's Crazy Thoughts section of the forum. There you'll find 30 and counting articles on my secret methods for making gold in Guild Wars 2 on the Trading Post. This is in addition to all the content that the community has provided over the years. Some of the information is so hot you have to use it right this minute to make a profit. Like the "What's Hot Now" thread and the Halloween/Christmas speculation ideas.
For those of you who were scared to commit to the 6 month or 1 year forum access, I've temporarily re-opened the 3 month option. Now you can get in for just $21, but if you're interested in sticking around for a long period of time, I highly suggest getting the discounts for 6 and 12 month access. It's literally a 56% discount compared to the 3 month option.
Don't forget to register your free account before attempting to purchase any forum time. It expects you to have a forum name to add the time to immediately after you have completed a payment.
NOTE: Purchasing forum time does not become an automatic, reoccurring bill in the future. You get a set amount of time when you buy and must choose to add more time in the future. The forum will not make any attempts to automatically bill you.
Do the Maths.
Multiply value you're selling at by .85 to see what you'll get back when the sale is over. (5% listing fee + 10% completed auction fee).
Divide the price you are purchasing an item at by .85 to see how much you need to sell it for in order to break even.
Get in the Right Line.
When placing a buy or sell order, know that you go to the back of the line for the price you list at (assuming others have already listed at that amount). If there are 10,000 logs at 1 silver 60 copper and you set your price to the same, then all 10,000 must sell before yours will. If anyone posts after you, then your logs will sell before theirs.
Learn to read.
Stay Up to Date.
Check out this blog as well as the blogs on my blog roll. Pay close attention to the forums at ArenaNet. Also consider joining the TP Extractor Forum for tons of useful insider tips and strategies from myself and the other members.
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ASK QUESTIONS BELOW IN THE COMMENTS!
I've come up with a very simple method for making gold. It can involve the forge or you can settle for a 20% profit on your investments guaranteed. The choice is yours based on whether you would like to take a little risk with the forge; it's not much, but obviously there is always a chance for failure even when you stack the odds in your favor.
I got a lot of complaints (both email and on here) recently for "giving away the best methods" on the blog. So I think I owe the forum guys and girls a strategy or two that never makes it onto the blog's front page.
For those members of the forum, here's your new Creative Method for Making Gold.
Anyone else reading this who isn't a member of the Trading Post Extractor, here's some additional tips when creating your own methods on the trading post:
1. Understand how items are linked.
We have the forge, salvaging, crafting, opening bags, etc. These all create links between items. When one goes down in value, others are effected. Unfortunately for most players, they don't take the time to realize this. You can wield it like a weapon on the trading post.
2. People want stuff now.
Two words: Buy Orders. Use them more often than not!
3. If it's too easy, then it's not profitable.
I agree and disagree at the same time to my own statement. So what if I'm arguing with myself? The easy part is pushing the buttons, but the hard part is figuring out which markets to play, how much, and when. Things become "easy" once you get enough experience. But all that being said, if it's so easy that a brand new player will see the opportunity, it's probably going to get flooded with get rich quick miners. See tip #1 for ways to disguise your methods!
Arenanet handed us an incredible gift when they created the "Top Traded Items" list. It's the first panel that appears when we open the trading post, and the most important column (the top 10 traded items) is all the way on the right.
These markets are always incredibly fast moving ones, providing impatient flippers with a place to put their gold. At the time of this writing, I was flipping green logs 250 at a time from 50 copper to 63 copper. The profit margin fluctuated between that and 51/62, which is still a one copper profit per item. All I had to do was place a 250 item buy order, work on other trading post activities, then check back in 30 seconds to grab the sold green logs and relist. Within ten seconds those were sold as well.
Sometimes the market would shift (like I said before down to 51/62) and then there would be a 5-10 minute pause in the action. This is why I never do more than 250 for these items, as they are incredibly volatile. All in all I did this around a dozen times, for a profit of around 1 gold 20 silver. It's just one more easy method for those of you who need something to do while you wait for more expensive buy and sell orders to finish.
It's really important when playing these markets to pay attention to walls. If you see a listing below 500 that is NOT a wall in the case of the top ten traded items! You can comfortably place your buy/sell listings past these low stacks of items. You're more interested in finding the real walls, which usually are several thousand items for the same price. Don't always assume that the lowest price is actually what you want to go with, so I highly suggest that you click the item on the trading post to see all the listed prices when you're going to select a price to sell at. Otherwise you're operating with just the "match lowest seller" price. One trick I use is to right click on the item in my inventory and choose "buy more" in order to bring up the trading post and see all the listings. You can't do that from the sell tab.
Hey Drake, thanks for the great question which spawned the following response post. Yes, GoldWars2 is easy to use, try it! Now, let's look at your current problem. Do you even know what it is?
Allow me to make things a little clearer for you; what you're trying to do right now is optimize your gold making operations on the trading post. This is excellent! I work very hard to get people to where you are currently positioned, because moving on from here is all down hill. You're aware of how the trading post works, the fees involved, and are willing to put the work into discovering your own niche markets.
I want you to try the following tips for optimizing your gold:
1. Don't expect buy orders (or sell orders for that matter) to be completed in a few minutes, hours, or even a day. Leave them up for longer, but experiment with how many you leave up at a time.
2. Avoid walling yourself in with buy and sell orders. Less is more!
3. Diversify not only your items, but the way you buy and sell them. Start tracking the prices of items throughout the day, along with how successful your buy/sell order attempts were.
Let's look at your rings. I would look up the previous price values on gw2spidy as well as my own notes for each one. If the ring was currently profitable and I knew it was likely to go up in value within the next 48 hours, I would place buy orders of 3 for it. Within a day I would check back on the buy orders and take note of how many were purchased. Then I would put in more or less buy orders depending on whether they sold. I'd also try putting one up for sale. If that sold reasonably fast, 2 or more rings would end up on the trading post next time I listed this item.
This is your own living/breathing case study in the Trading Post. Yes, the first few items you do this for will be a little tedious, but as you get better these decisions will become mechanical instead of forced. In many ways, you'll be able to rely on instinct for most of your decisions; utilizing the experiences you've gone through to make your calculated moves on the trading post.
See the title of the blog post? Speed, Profits and Assets. You must juggle how fast you want to buy/sell with how much profit you're after along with the amount of gold/items on hand. The formula to success is unique to each individual because of these three factors!
Hope that helps!