Monday, October 21, 2013

Progress...and a small hiccup.

Well, I seem to have chosen well in some areas and not so wisely in another area. I initially set aside a little above 665M Isk for my foray into trading. I selected some basic items gathered from killboard views and my own fittings, picked my station and docked. Then I left for work. I went from 665M to 702M isk and was elated. This could work well!

This whole thing truly makes me afraid of making bad choices and losing it all in an instant. I'm nearly paralyzed to spend more than what I've allotted. I'll get better at this, I keep telling myself. I'm pretty terrible at the rest of Eve so this is kinda my last hope before biomassing myself, heh.

After discussing some initial fears with devoting my hard earned isk to this venture with a trusted friend, I expanded my horizons tonight after work and picked more items and planned a refill of what had sold throughout the night and today. Uedama. Lost about 92M in cargo. Oh well. Tomorrow is another day and a lesson learned. My wallet is blinking again, maybe I can pull this off after all.

Edit: 92 Million lost. I had 70 Million written before.
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2 comments:

  1. MoxNixMarch 24, 2014 at 9:42 AM

    Diversification is the key to protecting yourself from losses. Losses will happen, there isn't a way to totally prevent losses without being too cautious and missing out on a lot of very profitable business too.

    As for gank losses, get a Blockade runner, they almost never get attacked in high sec... Even in places like Uedama.

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  2. HepatitisburgerMarch 31, 2014 at 7:57 AM

    When I first wrote this post, it was from the perspective on a mostly untrained newbie unfamiliar with the markets and trading in general.

    Since that point in time, I've jumped my own wealth by quite a bit. I now let someone else deal with the hauling for the most part and come to expect the cost as part of doing business. I no longer have the time or drive to get even moderate quantities of items from point A to B, so I'm happy to pay for the privilege. As I mostly maxed my own skills with trading I've worked hard to become involved in T2 production.

    I agree though, diversification is the safest way to protect from straight losing tons. The other key item is patience, our beloved New Eden markets cycle and some days will result in a loss. If an item is losing terribly and too much trouble to fuss with, I'll get out fast to minimize my loses and maximize my potential elsewhere.

    Who am I kidding, you probably know all this already. :-)

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