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Playing with Big Money

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.

Hey,
Really 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~
Thanks :P

Well, 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
When 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!

It 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
When 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.

Crafting Legendaries
With 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). 


These 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

Alfa Q

2 comments:

  1. Anonymous said...:

    You heard it here first. Dyeable weapons/ legendary halloween items comings soon!?

  1. BS detector said...:

    If it was... They would lump it in with HoT marketing. As much as I would like to see dyeable weapons be a thing, the time it would take would not justfy the cost. Unless they came up with an item (single use) in the gem store that allowed you to alter certain colors... I can see a lot of money being made.

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