Trade Log: Back to business and a few quick tips

I do so enjoy fixing other people's mistakes. My former-master now-boss fluffed up his finances. Needless to say, it took me a whole 2 days to fix it.

For those of you who don't know me, I'm Benh Thanh, Behnid's former market slave.

So, as soon as Behnid joined the Tribal Liberation Force, I became a free man. With all the rights, privileges, and taxes that come with it. Apparently even mercs for the Matai forces can't own slaves, and his conscience was giving him the usual unprofitable pangs.

Which means that we no longer enjoyed those lovely tax exemptions on our trades. Ugh. Nothing worse than giving governments money. They rarely know how to invest it.

Slaves aren't taxable in the Empire. Any customs taxes that get put on my shipments need to be sent off to my master. As my Master was very difficult to track down (piracy and all that), the invoices got lost bouncing around the legendary Imperial Bureaucratic machine. The Republic also doesn't tax slaves. Anything you bring out of the Empire is considered liberated goods, and basically what you use to make a new life in the Republic. They also strongly hint it's a good idea to go back to the Empire and liberate more stuff.

These new taxes would seriously cut into my bottom line. So, I put my plan into effect.

My first step was to free my wife, posted in Amarr. Behnid managed to sneak her papers under the local authorities, and bam, free lady. With all the rights and privileges of an Amarrian subject to the crown. One of those rights being the right to own slaves.

Holder status is surprisingly cheap to obtain these days.

After that, I sold myself to my wife for the incredible price of 1 ISK. Well, at least that was the starting offer. She haggled me down to 0.01 ISK. God, I love that woman. So now, like all husbands, I'm a slave to my wife... just more literally so. And blissfully free of taxes on moving goods between the Empire and Republic.

I guess I shouldn't mention what category of slave I am. Let's just say I get to share the exotic dancer lounges in stations.

Anyway... fixing problems.

It took three runs from Amarr to Hek. Starting with 100mil liquid ISK, I bought a dozen or so stacks of, well, crap that no one wanted in Amarr, but was highly valued in Hek. Two days later, and we're looking at a PLEX within a week, with enough licenses to keep the Sir Chief Behnid, myself, and my wife in space.

Seriously, if you need a lot of cash in a hurry, and you're not afraid of travel, Region Trading is the way to go. It's even a little easier than when I first started. Frigates warp faster these days, and Industrials don't take forever to get going. I did the last 2 runs in a Wreathe. Never felt more secure carrying 100mil worth of stuff.

But I just want to share a quick tip I discovered. Made my life a whole lot easier.

Before, I would use spreadsheets and market browsers to keep track of everything. It was fantastic, and kept track of everything well, and I could get all kinds of data.

It did add a lot of time to my trading though.

But did you know the market browser had a quick bar?

Using folders to organize what you region trade and what you station trade, you spend a lot less clicks going through your orders. Before, I'd go to my order page, get the menu open, wait for it to load, check back on my spreadsheets etc.

Now, I open up the market quick bar, and just scroll down to update my orders. Many of you are thinking, 'Duh, why didn't you do that before?' No one told me how, that's why.

But something I did discover though, which was pretty nifty. You know you can add your own text notes to items in the browser?

I use this now instead of referring to my spreadsheets. If I find an item worth trading (which croda does so well in explaining how.. and which I tried to explain a while back), I just add it to quick bar, put it in the right folder, and note 'Buy". If I have the item already, I note 'Selling'.

(Actual items censored to protect my investments. Do you own research you lazy bums)

How does this help? My wife in Amarr shares the same market browser as me. I don't have to keep referring to spreadsheets to see what I want to buy, or what I don't need to get more of. More time spent actually buying/selling, and less spent on fixing my terrible spreadsheet equations, is more potential profit.

Just a quick tip for your market noobies out there, and those who don't want to spend too much time crafting spreadsheets. Nothing better than good accounting though, so if you're serious about things, still make that spreadsheet. Some mercantile royalty types do seem to get along fine without though.

Now I need to go find the Boss. last I saw he was babbling something about wormholes and the profits there in, and trying to find his Astero keys.

Trade Log: Hauling (Regional Trading)

The graceful art of moving stuff.

Here's the secret. Look at your stuff. Put stuff in ship. Undock. Fly to destination. Dock. Take stuff out of your ship.

And that's it.

There are some tips though.

I rarely use industrial ships for this. Now that there are speedy industrials, it's not a terrible idea to use them, and can give you a good deal of tank.

What you deal in is usually quite mall, so the cargo capacity of a hauler isn't necessary. Gankers, pirates who prey on the humble hauler, used to be able to pop open most industrial ships without breaking a sweat. Not quite so true now, but gankers will still target you, since you're most likely to have cargo.

A fast frigate requires someone to have a ship designed for speedy locking, since they warp quite quickly, and they will also have to cargo scan you. No sense in wasting a destroyer or battle cruiser on a rookie's mission ship.

A Vigil, the Minmatar E-War ship, is usually the hauler of choice. However, gankers know this too, and will target those first. Any frigate will do though. I know of some traders that used to haul in destroyers too... no one ganks destroyers.

The speediest ship for moving around valuables is an interceptor. With this ship you'll zip across the space lanes, and outrun all but the most determined ganker.

It goes without saying that you shouldn't be asleep at the pod when you haul something valuable. Auto-piloting gives gankers an awful lot of time to peruse your ship. They'll scan you to see if you have cargo, and then blast you at their leisure. Manual piloting limits this time, and makes it less likely for you to be a target.

Also, avoid low and null security space. CONCORD won't help you out there. If you absolutely must, get a cloaked ship. Covert Ops vessels are good for this.

If, on the other hand, you find hauling too stressful (and boring), I recommend using either Push X or Red Frog on Courier contracts. I mostly deal with Push X. They are reliable, and have have a good insurance network.

When setting collateral for the contract, you might want to consider putting a small mark-up on your goods being hauled. Certainly do this for public contracts. I'm disinclined to do it for Push X though, as they're very professional about what they do. Good relationships are the foundation of any business.

The reason for the small mark up is lessening the damage to your business cycle. If you lose your valuables to a pirate, then you will have lost all that time spent buying and setting up the Courier contract. The small mark-up gives you a little bit of profit, to make up for the lost time. Don't be greedy, though. Just a little bit to pay for your time. Too much is simply unfair for your courier, and will damage your reputation.

So there you go. Get moving stuff. I've got things to do... 

Trade Log: Buying (Regional Trading)

Hi again. I'm here to tell you about Buying.

So, this is actually the hardest part of the whole trading business, and how well you do as a trader is a direct product of what you choose to buy.

That said, don't feel too pressured. So long as you set your sell order higher than what you bought the item for, you will make a profit. Of course, when you make that profit is a completely different question. It depends on your patience, and how active you want to be in trading.

Before you do anything, choose your hubs. Here is an excellent description buy a far wiser trader than I am, which highlights the regional hubs by size. The idea is buying from a bigger hub, and selling to a smaller. The hubs I work are Amarr and Hek... the reason being I was born in Hek, and Master Arcani operates from Amarr.

On a side note, flooding the Republic's markets with cheaper Amarr goods also sucks wealth from the regions economy. This is the one reason my Master didn't kill me on site for selling guns to his enemies. An added bonus is the intelligence my Master picks up from his patrols. Every ship he blows up gives us an idea of what the Liberation Force is buying, and thus what I should be selling.

A better idea is to work from Jita, that giant ISK blackhole in Caladri space. Prices tend to be the best there, and you'll never want for supply. If you are a serious trader, not working a Jita store is dumb. Really dumb.

Anyway, the easiest way to find things to buy is to use appropriate intelligence channels. This trade tool will give you a distinct advantage in choosing items. Essentially, set your budget, fill in your hubs, and you can just select the items you want to trade.

Sound simple? That's because it is! Using this site, you are nearly guaranteed to make profit.

Nearly.

This is where your experience and knowledge will come into play. Some items sell faster than others. As a rule of thumb, the fastest sellers are:

• Skill books
• Implants
• Modules
• Rigs

... and in that order too. Avoid things that are manufactured, since you'll put yourself in competition with the industrial capsuleers. Use your common sense too. If you can pick something up for a million and sell it for a billion, chances are it's too good to be true.

Feel free to take risks and gamble on unfamiliar items. The only thing that can hurt is a slow down in profit, provided you don't go all in on one item.

The actual buying can be done in two ways. Ideally you'd set up 'Buy Orders' at the bigger hub, so you can get something for the cheapest possible price. The problem with that is that you'd have to manage the buy order, which is added hassle.

The lazy way to do is simply to buy from the cheapest 'Sell order'. Not the most ISK efficient, but it depends on your chosen vocation. A pure trader can spend his time managing the buy orders along with what they station trade. If you'd like to do other things with your time, just pick up a sell order. It all comes down to what's important to you.

That's all for now. Stay tuned for the next post which tells you how to haul. 

Trade Log: Starting off in Regional Trading

...amn pie.. of Min..tar junk! Why does anything made in Rens break the second you leave system?! Wait, is it on now?

Oh. Well... good.

My name is Benh Thanh. I am Vehrokior. I am a slave.

Lets clear away the obvious question. Do I like being a slave? To be honest, I never really think about it. What would I do with freedom? Probably the same thing as now, but I'd worry more about a steady pay check. As a slave, my family is taken care of by the Arcani, and as long as we work, we won't starve.

The Arcanis are good people, as most Holder families go. They treat us fairly, and show us trust. They don't have to. The Khanid aren't exactly known for the good treatment of slaves. If you want to know more, ask my Master. he loves to ramble on about crap like that..

Anyway, he asked me to talk about Region Trading. I guess he wants to give away all my secrets, but slave does as slave is told.

Region trading is this:

• Buy stuff in one hub
• Move it to another
• Sell
• Repeat

Got it? Good. That's all. I've got some business to get back- What? Oh. The whole story? Do you want us to lose all our profits?! 

<static>

Ahem. My master informs me, that this is not clear enough. I apologize for my rude outburst.

Anyway.

The above is entirely true. Region trading is simply the process of moving some cheap things in one trade hub to another one where the locals will pay more for it. 

There's all sorts of complicated reasons why there is a price difference. Certain things are in more demand in some places, some things are only produced in other places. Throw hauling time for that with a bunch of other factors, and you have a five hundred page essay, which will amount to a lot of time wasted when you could have been trading for profit.

That said, there are some things you can do to make trading an easy source of income. It takes a bit of effort to set up, but after the intial set up, you can do just a little bit every day to keep a steady profit.

Obviously the more active you are, the more you'll make.

Over the next few weeks I'll be describing each of the above stages in more detail. There are other more trade centered blogs out there, but I want to give you a lazy man's guide to 'enough riches', rather than boast of my riches.

After all... it's not my money. I just spend it.