Some beautiful music to read the blog with

Wednesday, 22 October 2014

Bringing the Game into Disrepute

Brace yourselves, a totally non-trading post but CCP / Eve Online related.  No ISK to be made or lost here.

I suspect Eve Online would benefit with such a rule "Bringing the Game into Disrepute".  Actually, i suspect this already exists in practice.

In real life, i am part of two professions.  Both are part of the career path i have taken.  Accounting and Investment.

Both have professional organisations with i join for an annual fee (combined total about $1000 - tax allowable).

They both have rules.

And they both have one rule that can see me expelled / fined for "bringing the profession into disrepute".  Effectively that would see me ending my career.

"Bringing the profession into disrepute" is a very hard to define but most reasonable people know it when they see it.  It is very much like trying to define pornography.

The beauty of such a rule is that it keeps up with accepted society behaviour.  What would be deemed to be acceptable before may not be acceptable today.

The double beauty of this rule is that if anyone on a vindictive trip deploys this rule against another member and the rest of the profession turn around and say this is not the case - then the vindictive  person themselves can be hit with the rule.  Maliciously deploying the rule for ones own purpose is clearly "bringing the profession into disrepute".

If this rule was in Eve Online then suddenly you can catch events where the community goes down the line of "i agree with the banning of XYZ but it is hard to find the line in the EULA where it was caught".

It's a catchall but only works with the consent of the community.

Cyberbullying springs to mind.

Saturday, 18 October 2014

Eve Online Trading Podcasts

On a former game I used to play (World of Warcraft) there were several podcasts specifically dedicated to discussing how to make gold in the various markets.

However, such podcasts have been lacking in Eve despite the economy and markets being much deeper and more interesting.  We have market tutorials on YouTube (see my video page for useful Eve videos) and in Eve University - but seemingly no weekly/monthly market or business podcast.  There have been some in the past - but long discontinued.

It appears we now have two podcasts (well, two youtube casts).

One of the Youtube casts has been going longer than this blog and I only just spotted it!

Eve Talk

That is Eve Talk by Delonewolf (I have already highlighted two his market and industry YouTube clips on my video page).  It is a weekly YouTube cast for 20 - 30 mins talking about what he's seeing in the markets.  Focused more on station trading, primarily looking to buy items at one point in time to store in a hanger to sell at later point in time at a better price.

Format is the same week to week: Starts with a talk on the Plex market, moves onto the minerals, then T1 ships, T2 ships, T3 ships and then a different market each week.  The discussion centres on what is happening by looking at charts and then Delonewolf gives his views on why this is happening followed by some trade ideas.

I have listened to the most recent ones and I like them.

Unfortunately they are mixed in with his other youtube clips - so the link above goes to his youtube page.

The most recent youtube cast from 18 October 2014 is below:

Eve Prosper Market Review

The second one, the Eve Propser Market Review, which just started on Thursday night US time is a stream and youtube cast by John Purcell (Lockefox ingame) of the Eve Prosper Blog.

The link above is to the playlist on his youtube channel.  The Youtube cast has the 50 - 60 minute show but not the question and answer session afterwards.

The show notes, including links to the charts used, detail what content is being discussed.

It starts with a general news segement (not really market related), followed by the market charts starting with Plex, then some interesting charts, then Minerals, Moon Products and the  Fuel markets.  Lockefox gives his views on why the prices and volumes are moving, and some ideas on potential trades to make.

The most recent youtube cast from 16 October 2014 is below:

I am excited about all this (albeit Eve Talk has been going a long time and i have not spotted it!) and i am hoping it will bring alot to the economy / business discussion on Eve similar to what was on World of Warcraft when i played it.

Wednesday, 15 October 2014

More low priced sell orders in trade hubs outside Jita

I came across a Sell order for 2 Capital Cargo Hold Optimization II in Amarr recently, as shown below.

The normal established Sell in Amarr was 563m or so.  Hence, this Sell order for 2 x 300m is clearly sitting way below the normal market level.

A quick investigation into the Jita Sell price showed that the established Sell price is about 380m and the established Buy price is 311m.

So, i could make 22m immediately - though after Courier costs and Sales taxes that gets to almost nil.  But, i suspect i could post them for 389m as Sell orders and fairly quickly make a 178m ISK profit before Taxes.

Hence, i bought them both and contracted Push Industries to haul them to Jita for me to sell.

And, sure enough, within a day they sold for 390m each.

So a nice 180m less Courier costs and Sales Taxes made.

The beauty of finding lowly priced Sell orders that can be hauled elsewhere to be sold at a profit at the established market level is that they are rarely scams.  Scams work by a Buy order being hugely above the normal market level to entice someone by purchase from a Sell order that is materially above the normal market level.

Wednesday, 8 October 2014

A one pager for new players (trading orientated)

If i was to put together a one page of bullet points, with a bias towards trading, to give to new players with the aim of giving Eve the best chance of keeping these new players then it would be:

Read around

Trading / Business
  • The economy of Eve is very deep - there is a niche for everyone
  • Start small - learn the ropes first and then go in deep
  • The process that works at 4m ISK will work at 4bn ISK-with different items
  • You don't need to understand the entire market to trade successfully
  • You don't even need to know what the items you are trading actually do
  • Stick to the trade hubs of Jita / Dodixie / Amarr / Rens / Hek to start with
  • You don't need to leave High Sec to make your first 100 billion, and more
  • If mining drives you - there are many Corps that go on regular mining trips
  • You don't necessarily need to use spreadsheets

Staying alive
  • Learn how to make undocking and docking bookmarks if you need to haul
  • Use google to find best fits for ships if you insist on hauling over 100m ISK
  • Use google to find out how much is sensible to haul per transport ship

Avoiding being Scammed

  • Putting <Eve Online Scam> into google is a good start
  • Don't accept anything that originates in Local Chat
  • Ignore trade offers in Jita local chat
  • A Buy order that looks very high is probably a Scam

  • Don't ever fly with more than you can afford to lose
  • Expect to be ganked at some stage - you will lose your cargo
  • You can play Eve alone unless you want to do serious PVP or PVE
  • You can do the Business side of Eve totally alone
  • It is entirely possible to earn enough to play Eve for free

Saturday, 4 October 2014

A nervous wait

So, i am updating my Sell orders in Rens.  I get to the 5 items of Capital Capacitor Control Circuit I i am selling and incorrectly enter the Sell order as 32,103,269 instead of 62,103,269, as shown below.

Fortunately, all the Buy orders were at 20.8m or below - so i did not fill any Buy orders.

I then have a nervous 5 minute wait for the cool down before i can correct my mistake.

5 minutes is a long time in the market!

Fortunately i am able to update my Sell order before anyone comes along and snaps up a good deal.

Luck was with me that day.

Wednesday, 1 October 2014

Flow of cash within my business

It is something of a blessing and a curse that all my alts are in the same corp (Ironforge Commerce Guild) - which only consists of my alts.

(the Corp name is a nod to the last game i played, World of Warcraft).

The blessing is that a corp is a great place to centralise my ISK and contracts - any of my alts can access that ISK and any of my alts can issue Courier Contracts to Push Industries.  It saves me forever transferring ISK from one alt to another to cover costs of buying and hauling contracts.

The curse is that my alts can not be a member of any other Corp.

Anyway, the point of this post is just to detail how the ISK flows within my business (in other words, how i have organised myself).

Very broadly, i divide my alts between those that Sell (gather ISK) and those that spend via Buying in Jita, Manufacturing or Planetary Interaction (spend ISK).

In the diagram below shows the flows of ISK and Items in by business - the ISK gathers are at the bottom, the ISK spenders are at the top.

My business starts and ends at the Corporation.  All ISK flows into it, and all ISK flows out of it.  Bought Items, Manufactured Items and Planetary Interaction Finished Goods end up in its hanger waiting to be couriered by Push Industries to my alt sellers in the Trade Hubs.  ISK made by the seller alts in the Trade Hubs flows to the Corporation.  Anything that can be done in the name of the Corporation, other than placing Sell orders, is done so.  No ISK flows from one alt to another.  The Corporation is the middle man in all flows of items and ISK.

To follow the flow of ISK in my business it is best to start with the Corporation and then work down first, and then up.

The items flow to the sellers in the Trade Hubs:

My Corporation Buys all the items in Jita / or receives all manufactured items from my Lonetrek manufacturing efforts / or receives all the Planetary Interaction finished goods.  The Corporation then contracts with Push Industries to haul those items to my Trade Hub sellers in Dodixie / Amarr / Hek / Rens (i also sell items in Jita).

The Trade Hub Sellers post the items for sale:

And hence the only ISK the alts in the Trade Hubs pay are the broker fees and the sales tax.  Otherwise, they are item sellers and ISK gatherers.

The Trade Hub Sellers then transfer the ISK back to the Corporation:

As the Trade Hub sellers in Dodixie / Amarr / Hek / Rens sell the items and gather the ISK, it is then transferred to the Corporation.  The beauty of this is that transferred ISK is available to all Alts no matter their location (in distinct contrast to physical items).  That is what makes this all work.  If i had to physically transfer the ISK (or pay a fee) then that would be a game changer.

. . . . . and then moving to the upper half of the diagram:

The Corporation then Spends the ISK to run the business:

The Corporation buys all the items in Jita that are to be sold in the Trade Hubs, buys all the raw materials in Jita that are used in the manufacturing in Lonetrek and buys all the Planetary Interaction raw materials that are used on my factory planets.  These items are bought via alts in Jita - but they use the Corporation ISK directly.

Raw Materials are hauled by me to Lonetrek to be manufactured:

I haul the raw materials to Lonetrek to be manufactured and then i haul the Finished Goods back to Jita.  They are then contracted to the Corporation and so end up in its Hanger to be contracted to Push Industries to haul onwards.

PI raw materials are hauled by me to the Factory Planets to be processed:

I haul the raw materials to my Factory Planets to be processed and then i haul the Finished Goods back to Jita.  They are then contracted to the Corporation and so end up in its Hanger to be contracted to Push Industries to haul onwards.

The Corporation then Contracts to Push Industries to ship all items to the Trade Hub Sellers:

All items bought in Jita and manufactured Items and Planetary Interaction Finished Goods are hauled to the Trade Hub sellers in Dodixie / Amarr / Hek / Rens by Push Industries.  Using Rush Jobs.

. . . . . and so the cycle of ISK gathering starts and goes on.

Effectively, my Corporation acts like a Bank and Distribution Warehouse, and the glue that keeps the flow going is Push Industries.

Saturday, 27 September 2014

Account expiry embarrassment

I finance my account with Plex and therefore i get the monthly email reminding me to renew my subscription.  Which i forgot about.  And i also forget about the one reminding me i have 19 hours left.

I log in 4 hours overdue.  Account expired, can't get in.  Clearly i am my own worst enemy.

Annoyingly, in my corporation hanger in Jita are 72 Plex.

My solution:
  • I get an alt from another account (which had not expired) to fly to Jita
  • I buy a Plex (i could have just taken one from the corp hanger in Jita)
  • Activate it
  • and "Donate 30 days of game time" to my alt in the expired account

I was not able to do this from a Plex in the corp hanger unless i was in Jita - hence the need to at least fly over there.

I may have been able to move one from the corp hanger to an alt hanger in Jita and Donate it remotely - but i did not try that.

Needless to say, when the reminder email came the next month - i renewed immediately!

I have labelled this under "blunder".

Wednesday, 24 September 2014

More lowly priced sell orders outside of Jita

As i discovered before, i have found again (a week or so ago) some sell orders posted in a trade hub outside Jita where quite often the Sell order is at a lower price than the Jita Buy order.

The batch of 5 trades below netted me profits of 304m ISK before fees and taxes.

First trade:

In Rens there were 11 items of the Capital Semiconductor Memory Cell I on sale for just under 60m ISK each (660m in total), as shown below.

However, in Jita they are being sold for 72.9m ISK each and, more importantly, there are Buy orders up for 66m ISK each, as shown below.  The volume tab indicates there is real volume at these price levels - so these Buy orders are likely for real.

If i chose to sell directly to the Buy orders i would achieve a profit of 6m per item, or 66m ISK in total before fees and taxes.

Second Trade:

In Hek there are 11 items of Capital Cargohold Optimization I on sale (spread over 4 sell orders) for just under 25m ISK each, or a total of 275m ISK, as shown below.

However, in Jita there are Sell orders for up for 35m ISK and Buy orders up for 31m ISK each, as shown below.  Again, the volumes / prices paid check out.

Hence, again, even if i sold direct to the Buy orders i would make 6m profit an item, or 66m profit in total before fees and taxes.

Third Trade:

In Hek there are 10 items of Capital Core Defense Field Extender I up for sale for 40m ISK each, spread over 4 Sell orders, as shown below.

Again, in Jita there are sell orders up for 50m ISK each and Buy orders for 45m ISK (though only 8 Buy orders), as shown below.

Again, even if i sold the 8 items direct to the Buy orders for 45m ISK and managed to achieve 50m ISK each for the other two items i would make a profit of 60m ISK before fees and taxes.

Fourth Trade:

In Hek, there are 14 items of Capital Drone Control Range Augmentor I up for sale for 13m ISK each, spread over 3 Sell orders, as shown below.

However, in Jita they are being sold for 17m ISK each, as shown below.  The volume / Price tab indicates that the 17m ISK is a real price.

If i managed to sell all my items for 17m ISK each then i would make a profit of 56m ISK before fees and taxes.

Fifth Trade:

In Hek there are 9 items of the Capital Semiconductor Memory Cell I on sale for just under 60m ISK each, as shown below.

However, in Jita they are being sold for 72.9m ISK each and, more importantly, there are Buy orders up for 66m ISK each, as shown below.  The volume tab indicates there is real volume at these price levels - so these Buy orders are likely for real.

If i chose to sell directly to the Buy orders i would achieve a profit of 6m per item, or 56m ISK in total before fees and taxes.

Saturday, 20 September 2014

Always check the volumes of potential sell ideas

Below we have an example of an item up for sale in Hek.  It looks promising.

I can buy the item in Jita from a Sell order for ISK and sell it in Hek for 350m ISK, as shown below.  A good trade.

However, a check of the volumes going through at Hek, shown below, makes a trade a non starter.  The last trade to go through was at 205m and before that 160m and 208m.  Therefore, it is somewhat unlikely that the Sell order of 350m will be fulfilled.

Wednesday, 17 September 2014

Someone blundered - but asked politely for their ISK back.

I log in to see one of my alts with 2.3bn ISK in their wallet.  Not bad for one night.

But then there is also a mail waiting from a player - seems he blundered on entering a Buy order and my Sell order picked up the 1.2bn ISK or so extra:

and the current market backs this up:

Had this blunder gone silently i would have kept the ISK (and no doubt posted it on this blog).

However, to be fair to the player - he (i assume it is a he) did get in contact, was polite and there is no harm in attempting to reverse some of the loss.

So, the state of affairs is this:

  • i have a Sell order for 213m ISK
  • i get 1440m ISK
  • the player meant to do a Buy order for 144m ISK
  • the blunder in my favour benefited me by 1227m ISK (1440 - 213)
  • the blunder against the player hit him for 1296m ISK (1440 - 144)

So, i return 1.1bn ISK to the player and keep the other 100 - 200m ISK for myself to cover sundries like the sales tax (13m ISK) and a slap up meal at Miss Miggins Pie Shop (thats is a Blackadder reference).