Some beautiful music to read the blog with

Monday, 28 July 2014

A blunder averted

Well, the warning box worked this time.

I was updating my sell order for the item below and was about to enter one too few digits which would have resulted in a large loss of about 200m.

The old sell price was 111.878m and i was going to sell it for 11.872m.

Fortunately the warning box kicked in and saved the day.

i am noticing the warning box operating more frequently these days and i wonder if there has been a small coding change recently.

Saturday, 19 July 2014

A quick paper profit.

I saw this recently:

So, i am selling some Capital Sentry Damage Augmentor I's and up there is a sell order for 2 items at 30m each, way below the other sell orders.  There were no Buy orders.  And the sell order price at Jita is 58m and the Buy order price at Jita is 55m.

So, clearly this looks like a mis-posting.

I suspect one of two things happened:

1. the poster tried to sell some of the items at 30m to an existing Buy order which was unable to cover the full volume (i.e. a buy order to buy 3 of the item was up but the seller tried to sell 5)

2. or the seller in this case meant to post a Buy order for 2 items at 30m

Either way, i took advantage and bought the 2 items at 30m to repost later at a higher price.

Its a paper profit for now until i can sell the items and get that ISK into my wallet.

Saturday, 12 July 2014

June 2014 Update

As i now becoming quite common - I was away from Eve for over half the month again.  However, my wealth increased by 8.7bn ISK to 121.3bn ISK, which is an average of 279m ISK per day.  I had expected nearer 5bn - so not a bad result.

This month my holding in Plex generated 1.9bn of the 8.7bn growth in my wealth.  My Plex holding is 72 Plex worth 54.4bn.

Real life commitments at work has kept February through to June slow -having hoped July would be free i will now be on overseas business trips four times.

During these months i only sold the T1 items i manufacture and only traded other items where i made at least 15m ISK profits and 20% margins.

Going forwards that is changing to focusing solely on the T1 items i manufacture and only selling items that sell for over 100m ISK with 20% margins.

My strategy is to focus on low volume but high margin items that i either manufacture or buy (off sell orders) in Jita to sell in Dodixie / Hek / Rens / Amarr.

I don't have any standings of note - for this trading strategy saving a percent here or there is not key.  To reduce my costs of trading i have trained all my alts that post sell orders to Broker 4 and Accounting 4.

For those able to devote much more time to Eve, one way of reading this blog is to see how little time is required to generate sufficient ISK to plex your own account.

I have 2 accounts with 6 alts in total.
  • One one account: I have a trader at Dodixie and a trader at Hek which sell items that have been hauled there from Jita; and I have a manufacturer in the Lonetrek region that sells items in Jita and sends items to the traders in Dodixie, Hek, Amarr and Rens to sell.  This manufacturer also doubles up as my buyer in Jita.
  • On the other account: I have an alt that is getting into Planetary Interaction; I have an alt that is skilling up in Invention which currently sits in Amarr to sell the items manufactured by my Lonetrek manufacturer; and i now also have an alt that sits in Rens to also sell the items manufactured by my Lonetrek manufacturer.
All my hauling is done by third parties, namely PushX Industries - the time required to haul items from Jita to my traders in Dodixie and Hek would take up too much time.  Better to let these third parties do the hauling (for a fee, of course) whilst i am offline.  All my hauling is "Rush Jobs" and generally takes no more than 5 hours (often in under an hour) to haul from Jita to my four locations in Dodixie / Hek / Amarr / Rens (which are also the other trade hubs).  On average i pay 25m ISK per haul (so 100m ISK if i want to haul to all 4 trade hubs in one time) but it is well worth it given i can get those items bought in Jita onto the market in the other trade hubs very quickly and the hauling costs make up 1 to 3% of my sales price.  Not much given i aim to make 20% margins before all costs (hauling, broker fees, sales taxes).  I wrote a post on Rush Jobs which details why it is more profitable paying up.

I am now buying 1 Plex a month to finance my two accounts.  So, 750m ISK per month costs going forwards.  I do occasionally benefit from some kind soul upgrading their account having used the link to the right >>>>>>>>>

Plex: As of the end of June i held 72 Plex at a cost of 49.2bn ISK which at 756m per Plex was then worth 54.4bn ISK.  In other words, my holding in Plex has made me 5.2bn since i started investing in Plex at the end of February.

My biggest headache was that i was sitting on too much ISK which was not invested in the market.  I had up to 35bn ISK in my wallet which was dead money.  At most i need to hold 10bn ISK to finance my business, the other 25bn or so is surplus to requirements.

I know two things about that ISK.  Firstly, it will be there tomorrow with no chance of making a profit (or a loss).  Secondly, there is inflation in Eve so in effect it is not keeping up with the cost of living in Eve - in other words, its value to me in the future is lower than its value to me today.

So far, Plex is the best item i can find that (in the medium to long term) is the best asset to keep up with inflation in Eve.

However, during June i did not purchase additional Plex given i want to expand my trading business into higher value items and so will perhaps need the surplus ISK this month.

Dodixie trader: Life remains good and consistent

Items for sale fell to 14.3bn from 17.8bn which reflects me selling down my holdings in items valued below 100m ISK without yet replacing them with items valued at over 100m ISK.

I sell T1 manufactured items that my manufacturer makes in Lonetrek, and going forwards any other item that sells for over 100m ISK and makes a 20% profit margin.

This alt pays 0.80% broker fees to post an order and a further 0.90% sales tax on a successful sale.

There are no medium term goals for this alt – for now i will focus on the manufactured items from my alt in Lonetrek and selling expensive items hauled from Jita.

Training - this alt is training for missions.  Currently doing Level 4 missions.

Hek trader: Life remains good and consistent

Items for sale were flat at 15bn ISK.

I sell T1 manufactured items that my manufacturer makes in Lonetrek, and going forwards any other item that sells for over 100m ISK and makes a 20% profit margin.  Other than the manufactured items, there are very few common items i sell in Dodixie and Hek.

Pays 0.80% broker fees to post an order and a further 0.90% sales tax on a successful sale.  No longer training.

Amarr Trader: Back down to normal

Only really fully started up in mid December and focuses solely on items manufactured by my alt in the Lonetrek region.  During June this alt's sales were 6.0bn ISK vs prior months 7.1bn ISK and i suspect the profits were 2.0bn ISK vs prior months 3.0bn ISK.

Items for sale at the month end were flat at 11bn.

Pays 0.75% broker fees to post an order and a further 0.90% sales tax on a successful sale.  During the month i increased Accounting to Level 4 and Broker Relations to Level 5 to reduce those fees / taxes.

The main aim of this alt is to train up for Invention, and here the training goes on.  Needless to say, with being busy in rl this whole invention thing has been on the back burner!

Rens Trader: back also to more normal levels

Started just before xmas and also focuses solely on items manufactured by my alt in the Lonetrek region.  During June this alt made sales of 3.8bn vs prior month of 5.2bn ISK and i suspect profits of 1.7bn ISK vs prior month of 3.0bn.  Items for sale at the month end were flat at 7bn ISK.

Rens is a slower trade up so i did not expect to see great things - but being able to earn enough to buy two Plex per month is no bad thing.

I have no plans to expand into selling other items - i will stick to selling the items my manufacturer produces.

Pays 0.8% broker fees to post an order and a further 0.9% sales tax on a successful sale.

No longer in training.

Manufacturing alt: This alt does all my manufacturing from the Lonetrek region which is within easy access to Jita.  Not much has changed since November.

This alt sells its items in Jita and contracts to Push Industries to haul items to the traders in Dodixie / Hek / Amarr / Rens to sell.

I own 44 blueprints worth over 1bn ISK, most of which have already comfortably paid for themselves.

This alt may have plateaued at 6 to 8bn ISK sales per month for now though June was low.  During the month it made sales of 4.2bn (vs 7.3bn ISK in the prior month) and estimated profits of 2.0bn vs prior month of about 3.0bn ISK.  It currently has 9bn of sell orders, similar to May.

My expansion into manufacturing has been a great success so far.  I am now training this alt up to manufacture T2 items and i am in the process of manufacturing my third T2 item - lets see how it goes but so far T2 items are not as profitable for me as the T1 items.

And all this takes is 15 minutes update time a day.

The current near term goals is to find other T1 items to sell as well as expanding into T2 items.

I have seeded a new market in Lonetrek - lets see how that goes.  It is volatile at present - June sales were 1.0bn with profits of about 0.5bn compared to May of 1.5bn and profits of about 0.7bn ISK.

Planetary Interaction Alt: started training for Planetary Interaction.

This alt used to be my buyer in Jita.  He is now fully skilled for Planetary Interation and i am experimenting with it all for now.

Outlook: July is going to be real busy for me in RL (again!), hence i suspect i will be lucky to make over 5bn.  I have a holiday in the last week of June so it will be interesting to see how much i can make with some more time online.

Current Wealth:

Expected business purchases in the next 30 days
  • Plex x1 = 0.75bn ISK

I don't count assets I use in the course of my business such as ships, fittings etc nor do I add back any expenses such as skills purchased etc.  The wealth I disclose is made up of items that are ISK or are in the process of being converted to ISK.

* I take a 20% provision against the items I am selling.  Eve calculates wealth by adding up the value of the sell orders hence it is possible to increase your wealth by buying an item for 100m ISK and putting a sell order for 120m ISK (in this case your wealth would increase by 20m ISK).  For me, I want my wealth to be calculated at cost until i finally hold it as ISK.  I know that the value of my sell orders will likely fall over time as I update my orders downwards as competition reduces their prices before my items are sold.  Hence the 20% provision is my best guess as to what cost is or at least the maximum reduction I would need to make to my sell orders as a whole before they are sold.

Saturday, 5 July 2014

Someone blundered (perhaps), i gained (for sure)

This is another one of those posts where i was lucky enough to take advantage of either someone's blunder or a sale that did not complete - for former is a blunder, the latter is not.

In the image above one of two things has happened.  Either someone has decided to put a buy order up for 1 Capital Auxiliary Nano Pump but instead put a sell order up or someone has sold a bunch of them to buy orders which were not enough at the price specified and so one remaining sell order has remained up.

Eitherway, staring me in the face is the chance to purchase an item for 48m and put it back up to sell at 69m.

Promptly done!

Sunday, 29 June 2014

Jobbing your way back to profit

This is an old expression from back in the day when stock exchange market makers were actually on the floor of the stock exchange shouting their buy and sell orders though is still relevant today.  It relates to when a market maker is sitting on a loss making position and how they recover their losses.

I was asked a question on the blog about what i do when i am have a sell order up which has been so undercut by competitors that it is never likely to make a profit in the near term.

I will normally take the view that it is better to sell the item at a loss and so redeploy the capital into other selling other items at a profit and so in time i will recover my losses.

The alternative is to leave the item up at a sell price that is still profitable in the hope that the price rises again but that firstly runs the risk that it may take a long time for the price to rise and secondly by selling at a loss i can normally quite quickly recover my losses.

For example, lets say i bought an item from Jita for 10m ISK and hope to sell it in Dodixie for 13m ISK.  I post it in Dodixie for 13m but competition comes in and drops the price to 9m ISK.  And lets assume there are plenty of items for sale at 9m such that it is not likely that demand will work its way back up to my item at 13m.

In this case i would drop my price to the cheapest, make the sale and then deploy my capital of 9m (so a loss of 1m is made) into buying an item in Jita for 9m in an attempt to sell it in Dodixie for 11m.  If i succeed i will have immediately recovered my loss in one sale cycle.

And that is what the market makers of old and today do - better to realise the loss and get the capital back into play.

Wednesday, 25 June 2014

Make Your First (Or Next!) Billion Isk Using One Of These ‘6’ Methods [Guest Post]

Guest post written by Eve Mogul :

For the past year almost all of the time I’ve devoted to Eve has revolved around not only trading, but  more predominantly, teaching many other pilots to successfully trade themselves.  And having had quite close contact with so many budding Eve traders I’ve noted that one of the biggest hurdles I see is simply understanding  the concepts of a good trading strategy, and this was in fact my own challenge for at least a few years after I started playing Eve in 2008.

One thing I learnt quickly back then was that buying low and selling high is pointless advice – I’m sure you’ve heard it many times before and I’m also sure you looked blankly at the screen after reading it, had another sip of Redbull, scratched at your probably awesome neck beard, and then clicked away.  The real trick to identifying, replicating and profiting from a good Eve trading system is to know what to buy, where to buy it, and at what price, and of course where to sell it and at what mark-up.

And that, my friends, is exactly what I’m going to briefly outline right now in the form of six defined methods of trading all around the Eve universe.  We’ll take a brief tour of all the trading methods I’ve learnt, tested and experimented with during my many blissfully lost nights and weekends playing Eve.  Not only that, we’ll graph them against the amount of time you have to devote to each strategy once it’s all up and running, against another interesting statistic of how inter-regional they are (or aren’t).  If you’re new to Eve trading then by the end of this post you’ll have a clearer understanding of various different trading methods and be able to choose a method that resonates with you best both in terms of trading style and any time restrictions you might have.  And if you’re a seasoned veteran you might just learn something new, or better yet be able to add you own related experiences in the comments section below for the new guys to learn from.

Caveat: everyone approaches trading differently and the following methods are simply my particular way of doing things based on my own personal experience.  
Secondly,  you can realistically spend 100% of your Eve time on trading using any method.  But my reference to how much time is taken on each strategy is based on my experience of how much in-game order management is required for a given and constant assumed profit level, and as a knock-on effect from this, for how long you can realistically leave the game and still come back days or weeks later and have continued good profits.

Let’s take a look…!

First let’s review the graph as it’s the juiciest piece of information and eye-candy in this post – run your eyes over it and then we’ll have a concise discussion about each method in turn.

First we have station trading, and if I’m honest the mechanics of just how this worked eluded me for a long time.  For those unfamiliar with it, you sit in a major trade hub station and set up buy orders for items in that same station.  You baby sit those orders to make sure they stay at the top of the buyers list, and once those orders fill you relist them for sale.  In order to make good profits what you’re looking for is a suitable margin between the buy and sell price, and a corresponding suitable volume of items being traded each day, week or month.

There’s absolutely no reason to leave station, and obviously this trading method is the least “inter-regional” of them all.  It’s main drawback is the amount of focus you need to keep on the market to make sure your orders remain at the top at all times.  There’s just so much competition in the big hubs that often your orders simply get quickly lost in the crowd.  This is perhaps less of a problem once you get very well established, but I’ve never taken it that far and have personally concentrated almost entirely on more inter-regional methods.

For those of you who want a more detailed review of station trading I’ve stepped in front of the camera to give a short class of sorts on this very topic, and you can check it out on YouTube by following this link: Station Trading By Eve Mogul  (you’ll see some bloopers as well, so stay tuned to the end!)

Inter-Hub Trading
Next up is Inter-Hub trading.  Just like it says, this is trading between any two or more of the four main trading hubs (Jita, Amarr, Dodixie and Rens).  This is almost like station trading on steroids, and while it does perhaps take a little more time and effort than station trading what with all the hauling and price comparisons, the profit margins can be so much better.

This is definitely an inter-regional trading method, although of all the inter-regional methods is the least expansive of them all.  If you put the effort in you can make billions using this strategy however much like station trading, in my experience, if I go away from the game for a period of days or weeks my market income drops dramatically using this method.

Hotspot Trading (hisec)
Hotspot trading is my bread and butter, this is what sent me to 12 figures in liquid isk (that's hundreds of billions!), and this, for me, is by far the best and most effective set and forget method for making huge isk.  If for no other reason, this strategy worked exceptionally well for me as the time I could realistically devote to Eve was minimal, and once you’re setup a little neglect really doesn't change what this method of trading will do for your account balance.  For me, this is the holy grail of Eve trading.

Hotspot trading is my own terminology so this may be new to you; it involves creating your own market for various items in a non-market-hub system with a suitable average population, and acceptable criteria as measured by universe map statistics and a little system recon.  I usually seed between 80 and 200 specially selected items per Hotspot system for best results.

You can conduct this type of trading all over Eve making it a truly inter-regional trading method, and you have the benefit of much lower competition than the hubs, and the use of a 90 day time limit on market orders.  This means you can go away from Eve for days or weeks and come back to a sometimes significantly higher account balance.

When I finally figured out the intricacies of this particular trading method, make no mistake, my account exploded relative to the time I was putting into the game, and allowed me to run pimped out ships on many a PvP fleet while my market empire just did its thing in the background.

Want to learn the basics to this type of trading… check out the free video and info here : Inter-regional Trading Basics (

Hotspot Trading (nullsec)
This is a natural progression from hisec Hotspot trading, and is the path I took to shoot myself into hundreds of billions in liquid isk, quickly.  You simply take the concepts of 'hisec' Hotspot trading and apply it to nullsec.

This will work well in player owned/sov systems and NPC space, and the key, as I often say, is to go where the people are.  Follow the high population systems in nullsec (make sure you have access to them first though) to make this work.  Admittedly it's a little more challenging than hisec due to the concentrated competition in certain areas, but if you get a low competition system with a high average population you will most definitely make a killing!

Buyer-Side Trading
What I mean by Buyer-Side trading is putting in lowball buy orders in many different regions all over Eve for items that pilots wish to readily sell.  It’s then a matter of collecting all of your bought ‘stuff’ and hauling it back to a market hub to sell.  The reasons behind why pilots sell what they do and where they do it is beyond the scope of this post, but rest assured that if you truly dedicate yourself to this method you will make tens, if not hundreds, of billions of isk.

It does take up a lot of time hauling so be prepared for that, but if really immersing yourself in the market is your thing then this method of trading is easily the equal of Hotspot trading, and is most definitely an inter-regional trading method which can be spread to any region in Eve.

Manufacturing -> Trading
There was a time where I spent over a year in partnership with an Eve friend putting up our own POS, manufacturing our own hulls, and selling them predominantly in market hubs (although they can potentially be sold all over Eve).

While I only played a small part in the overall operation I was staggered by what was possible once the manufacturing chain was properly established.  I did make a LOT of isk this way, although to be fair my friend, who had other manufacturing operations on the side, was making reasonably more than me.  The only drawback was the time that it took me to keep on top of everything and ultimately it was too time intensive for me in conjunction with everything else I was doing - it may not be the case for everyone, but industry wasn’t completely my cup of tea so it was a bit more of a chore to keep it all up than it was to keep my extensive market operations going.

So there you have it, six tried, tested and proven methods for making good isk in Eve by utilising the market in one form or another.  As mentioned earlier it's beyond the scope of this post to explain the finer points of each method, but hopefully this has helped to crystalize exactly how you can make isk in Eve by trading using various methods.

Now load up  Eve, and get out there and start making some crazy isk!

All the best and fly safe,
Eve Mogul

Eve Mogul (RL name, Mark) is the person behind the Eve Mogul premium set of video guides available here where you will learn the exact steps to mastering trading mechanics, Inter-hub trading, Hotspot trading, and get bonus information on Buyer-Side trading.  
If you're after the basics of Hotspot and inter-regional trading then get all the details here (

Saturday, 21 June 2014

Checking the Price History

Below we have a classic example of two items where the sell orders are not representative of the fair price in the region and therefore these sell orders are unlikely to be filled.

At first glance, the Sell orders look good.  The below items do not sell in much volume, 2 sell orders each are up.  Potentially these look like good items to trade.

Even better, the Jita Sell order prices are 2.8m and 110m respectively - so a potential healthy margin.  I could buy one of each item from Jita and sell it here hoping to make a profit before taxes of 12m and 70m, respectively.

The problem comes when the recent history is inspected for each item:

The most recent sell orders have been done at 5m and 119m respectively - and even those prices have been elevated vs prior days.

Therefore, there is not a hope that the 14.9m ISK sell orders will be fulfilled, and likewise there is not a hope that the 180m ISK sell orders will be fulfilled.

It always pays to quickly check the price history as well as reference the Sell order prices to those at Jita.

Wednesday, 18 June 2014

Guest Posts Welcome

This is aimed at the non-bloggers out there though also of course includes the blogging community.

If anyone would like to submit a Guest Blog Post on any business related topic they want then feel free to contact me.

The idea is that you would submit a Blog Post which i would post on this blog and then you can handle the incoming comments.

So, for those of you who don't have a blog but a burning desire to express your views - this is for you.

Even if those views are to rubbish my strategy, all fair game.

You have a trading view? Or want to share your successes? Or want to talk about how you go about making ISK?  All are welcome.

Contact me by email (see my About the Blog Page) or ingame (Ingame chat channel: Ironforge Commerce Guild)

Sunday, 15 June 2014

An odd trade

I can't say i am too sure what i am seeing below.

There are two items, each with a very low sell order in at 1m ISK, which is not only way below the Region fair price but also below the Jita Buy and Sell order prices.

At first glance, it may be someone meaning to put up a Buy order or just blundered on putting up their sell order.

In any event, i purchased both items - a sure winner on my part and perhaps a blunder on the sellers part.

But then i inspected the recent Sells i had made and discovered i had sold these items to the same player (name withheld to protect a dignity!) who had then re-listed them to sell at these low prices:

So, not really sure what is happening here . . . . . . . 

Wednesday, 11 June 2014

Buy fair, sell fair

I hear this a lot "Buy Low, Sell High"

Nothing wrong with that as a strategy except that it does not often happen.

Perhaps a better method is to "Buy Low, Sell Fair".  Or better still, "Buy Fair, Sell Fair" as long as it makes a profit.

Clearly, the definition of Fair is up for discussion - but for our purposes lets assume it is the normal price of an item in a region.

The advantage of "Buy Fair, Sell Fair" is that there are ready sellers of items at a fair price in one region, and then there are ready buyers of an items fairly priced in another region.

My entire business strategy is based on this.  I buy items in Jita from sell orders others have posted and then i post these items for sale in the other trade hubs at fair sale prices for those regions.

For sure "Buy Low, Sell Fair" will make a greater profit per sale but it does require you to put Buy Orders up which will not be filled immediately.

An added benefit of the "Buy Low/Fair, Sell Fair" is that it steers you away from scams.  Most scams are based on "Selling High".