Hey guys, Alfa here again and today I am going to share a question that I recieved from a fellow trader not too long ago.
appreciate the articles you write on the site, they've helped out a
lot. As a matter of fact I'm just a few days away from finishing
predator, and I intend to sell it. I was wondering If you had any advice
as to what to do to make the money (around 2500g at current price)
grow? I've never really spoken to anyone trade-savvy enough for any
amount of time to know what I'm doing, but I've met people with
20,000g+ and I'd like to have that level of security~
when it comes to dealing with big money/gold there are several things
that you should keep in mind. Here are some tips that I suggest for any
trader with any sum of gold and wants to make their gold grow.
Keeping Track of Your Trades
it comes to dealing with more gold, chances are that you will be buying
a lot of different items (remember diversity is key!). Keeping track
of the quantity of items bought at a certain price is a good way to keep
track of profit and losses. A really, really good website that I would
suggest is http://gw2tp.net/.
It allows you to keep track of your buy orders in an organized manner
while also seeing the potential profit/loss if you were to sell the item
on the spot. You will need to create an account on the site in order
to keep track of your transactions. It is also a good way to see
profitable items that can be flipped by simply looking at the main page.
Alternatively there is the old fashion pen and paper method you can
use instead to keep track of your trades!
might seem tedious to keep track of every single trade, but trust me:
it worth it in the long run. The history section of the trading post is
nice, but really disorganized since often times your orders
are fulfilled by many different buyers making it difficult to keep track
of your items. Being organized will allow you to make smarter selling
decisions which will can yield you even more gold :)!
Investing in Many Different Items
it comes to investing with, say 2500 gold, you definitely should not
"go big or go home" on a single item. In fact, I would advise against
it even if you are dealing with any sum of money. It's incredibly
risky, especially if you are really inexperienced and are still learning
the "do's" and "don'ts" of GW2 trading. Try diversifying your gold
into several different items (not one or two). Spreading out your
investments on several items will reduce the risk significantly and save
you a ton of gold from potential flop investments. Of course don't
forget to do your research before making any decisions! Using GW2
Reddit or watching Wooden Potatos on Youtube is a very good idea to stay
up to date with news in GW2 to help you make smart decisions when
speculating future patches and content.
2,500 gold, it wouldn't be a bad idea to use that money to craft
legendaries and sell for large profit! Many people who you have met
with 20,000g make their gold primarily off this method (as I too have
met many people with over 20,000 gold that do this). The only things
that you cannot buy that takes a little bit of time are: map completion,
obsidian shards (just do the silverwastes shovel train), gift of
battle, and the dungeon specific gift. If you are willing to do those
things then you can be making hundreds of gold in no time (or as fast as
you can finish the non purchasable items required for legendary).
are just a few suggestions that I can offer. There are several other
great posts on the blog that you can find very helpful to making much
more gold! Especially the smexy secret forums :D
As usual, feel free to shoot me an email at Dinosoarex@gmail.com
or pm me in game at Dinosoarex.6594 if you have any questions :). Also
feel free to ask questions in the comments section! I will likely be
posting a article regarding speculation sometime soon :D