I received this email with a plethora of questions I'd like to answer publicly on the blog.
"Hello! I am very excited to learn ways to become a successful
auctioneer on Guild Wars 2! I was just curious (if you don't mind) if
you could please answer a few questions regarding you. I hope to use
this information to become as successful as you have :)
1) How much gold have you accumulated?
2) How long did it take for you to become successful at speculating the market?
3) Do you trade gold as a living (Idk if people actually do that lol)?
4) Why do you like to trade on the trading post so much?
5) Have you ever had experience with/ invested in the stock market?
6) What do you look out for when speculating the market?
know that is a lot of questions to bombard you with, but I would
definitely appreciate it if you could please answer them! I'm dying to
know and become a successful trader!
Thanks for the great email Josh. There's lots of stuff I can work on with these questions to help not just you, but everyone else that's thinking them.
1) Not telling. No, seriously, I'm not revealing this. The moment I do, somebody out there (while there can't be all that many that can say they've made more than me) will claim they have more and that they therefore are more knowledgeable about the trading post. I could have 2 gold to my name and still consider myself "richer" than most because I know how to make gold consistently even if it's from nothing. Let's get you there as well ;)
2) Speculation is something you learn from paying attention to news articles about the game, chatter on forums and reddit, as well as from playing many different games over time. You learn to find the connections and realize that most developers implement changes logically over time. Eventually, you can predict those changes based on previous ones. The Xunlai Electrum Ingot is a great example of this.
3) I do not sell Guild Wars 2 gold.
4) The trading post is an ever changing beast that I like to master. It keeps me on my toes which in turn keeps me playing. If it got stale I'd stop playing immediately, even if I had thousands of players following my blog. This actually happened a while back on my wow blog and I sold it once I found someone to take over for me.
5) Yes, I did fairly well. Small gains each year but I eventually pulled my money because I wanted to save up and get into real estate instead. My advice for anyone who wants to figure out the stock market is to invest in commodity stocks like meat and corn. These go up and down based on several factors, but it's fairly predictable.
6) I think... what am I going to buy when the patch hits? I also try to figure out what unforeseen changes are likely to occur. Even though I get one or two speculations right, I often get a dozen wrong.
Here are some starter tips for you Josh, as these questions felt more like an interview for inspiration rather than points to help you get better on the trading post.