We Need More Writers!
Written by Jayhawk.
Anything worth doing or worth knowing starts with an entry level position and learning how to be effective on the Trading Post is no different. Yes, there are quicker paths to the top but that requires more understanding than most people initially have. Most of that understanding isn't even about the game and the markets, it's about yourself and the way you look at, act on and think about trading.
I am a rather conservative trader. I want "sure things" and want to do that sure thing as much as possible. I branch out occasionally and sometimes find a new "sure thing" to add to the list however I have been burnt far more when I acted outside of my nature -- trying to get the "quick flip", speculating on markets and trying to time the patches and holidays right. I realize I'm just not that guy.
You need to find out what kind of trader you are and the best place to start is by being conservative, doing the entry-level flipping and branching out from there. In short, the best place to start is by "Flippin' Burgers".
Take a look at a month view of Hamburgers from GWSpidy2.com
You'll notice that we can buy Hamburgers for 2c and sell them for 15c netting us 10c profit after fees. (http://tpcalc.com is a great resource to do the math for you).
You should also notice that Hamburgers have been over 30c at least 3 times during this month view and consistently jump over 20c. So, what's your "sure thing"? What's your risky? What's your crazy-aggressive?
HOMEWORK: Buy 300 Hamburgers at 2c or 3c and sell 100 at three different prices that you would label "sure", "risky" and "crazy" and see what you feel most comfortable with. Make at least 1 gold in profit from flipping burgers and then post in the comments for this article what your prices were. Then, tell a friend how easy it was to make 1 gold and send them to this blog. If there's enough interest, I'll come up with another easy and profitable "assignment".
3) 3 Large Scales or Piles of Incandescent Dust (currently 3s 35 and 1s 33 respectively from the TP)
A word of caution – the scales and incandescent dust can fluctuate in price (sometimes rising as high as 4 silver per unit!) so be careful when buying and remember to adjust the numbers accordingly.
Hello everyone! Thank you so much for visiting this blog. Recently I have taken a serious interest in creating my own video games (namely on the xbox360 but now also for steam). While this means that my attention is driven away from the Guild Wars 2 economy temporarily, I don't want to reduce the content production on this blog.
Several writers have come forward and submitted articles, as well as gotten paid for them! The articles have earned between $10 and $30 each, and I really hope this incentive creates a greater number of people to step forward and write for this blog.
Speculation, current strategies, gold making basics, etc. All are good fits for this blog and you don't have to be rich in game! Common sense is not so common for the newer players, and so I often post basic information with a new twist for the more experienced demographics.
Please go here to see rules for submitting articles. You can always ask me questions as well.
If you could show support for my latest game, One Night Two Crazies, that would be awesome!
Try for free on XBOX360.
Please vote yes on Steam.
Hilarious compilation video of people playing on youtube.
Thank you all,
Good question Daniel. Allow me to answer by providing the timetable for almost all price "spikes" in the game: Guild Wars 2's News Cycle.
The faster players find out about new skins, the sooner they will buy them. So when a new patch goes live on a Friday, odds are most people will have found out by Sunday afternoon. You will then have until around a week to two weeks before everyone has bought the skin they wanted and moved on to the next thing they're chasing.
Only a small fraction of players pay close attention to the Guild Wars 2 home page, news related sites, patch notes, videos, etc. The sooner you discover that players WILL WANT SOMETHING, the sooner you can take advantage of the situation. Predicting what will happen after an unknown (like a patch) comes out is very tricky, but spotting a news story as it's occurring or about to occur is easy provided that you pay attention to the Guild Wars 2 News Cycle.
Even with holiday events, I find that the buzz surrounding new items dies around a month later. Luckily, GW2 is always adding new items and features to keep people chasing the proverbial carrot on a stick. What's cool about the devs' process is that they keep reusing old materials instead of always reintroducing new ones (like world of warcarft did with each expansion). This allows you to play long term markets like silver ore, leather, etc because you can realistically expect the devs to eventually raise their price with patches.