Nosferatu Eris (all names with nosferatu in it at the start)
Pro (Protocol)
2 level 80’s (Mesmer and necro so far)
Pro (Protocol)
2 level 80’s (Mesmer and necro so far)
Trying to make money? See this first please.
tl;dr: don’t bother. the one thing you had a measure of success with, i didn’t. i even took the mats with the biggest spread between t5 and 6 (silk to gossamer) and after about 25 skill points i had made a couple gold then ran a string of 10’s and ended with less than i started. i’ve completely given up on any money-making ideas that involve anything beyond looting and vendoring. that’s been the most consistantly successful method i’ve found so far. i’m not a big gambler though and there’s too much rng (at least range in the rng) in things like the mystic forge to be considered anything but gambling.
Yes, the mystic forge is gambling, but gambling can be a good idea if you have the right odds. Would you pay $100 for a 1% chance of getting $1 million? I sure would. That’s still gambling, but it’s profitable gambling.
This can also be the case for the Mystic Forge. If you do the research, the math, and have enough of a bankroll to handle the variance, you can make a profit. I, and many other players in the game, can testify to the truth of this, although they may not have been as meticulous about it as I have.
It’s a lot like poker – if you do it right, you can make plenty of money doing it, even though it’s “gambling”.
@Nosferatu
Just about AH part – you checked 1 item (you’re saying you checked loads) that is not profitable – and btw, Ecto is not “quick selling item”. There are plenty – I mean craploads of items that are worth to “buy low/sell high”. Few examples out of my head:
Scarlet Dye, Red Dye, X Dye (like 50 of them), Copper Ore, Jute Scrap, Ancient Wood Log (buy 3, craft to plank, sell), Heads of Garlic, Oranges… And that’s not even a tip of an Iceberg.
There’s plenty of ppl (myself included) who made hundrends/thousands of gold on AH, so all did “you cannot make money on AH!!!11oneone” posts are far from truth.
Point is – it’s world-wide fifo market – so much different than other AHs (like for example WoW had).
You can also make money on crafting (logs > planks for example). Another one – check Superior Rune of The Pirate – I made like 6s profit on each few weeks ago, still can make about 2-3s (buying mats, selling product) – so you’re wrong again.
“It’s a lot like poker – if you do it right, you can make plenty of money doing it, even though it’s “gambling”.”
Lol, theres an element of skill to poker. There is none to the mystic forge. Apart from buying extremely low and hoping you get lucky.
The element of skill to the mystic forge is knowing which things to craft or buy and at what prices.
There’s plenty of ppl (myself included) who made hundrends/thousands of gold on AH, so all did “you cannot make money on AH!!!11oneone” posts are far from truth.
You have made thousands of G on the market? If so you have a massive war chest of G in order to manipulate the market and a small spread of even 1% profit will yield you big returns if it is a fast selling item.
Take the typical player who has say 2G to invest. A 1% profit will yield 2S, rinse repeat over and over with the possibility of losing if the market manipulators like you move it the wrong way.
I have tried it a bit and i can say it is boring as hell. Not my idea of fun.
I have seen you boast about how you can make money on TP multiple times. You aren’t being clever, you are just showing that you started early and prefer to sit for hours on the TP instead of playing the game. Unless of course you have a bot working for you.
Which is why someone with 2g should prefer to invest in things with greater than 1% profit. Fortunately, something closer to 10% profit is fairly easy to come by for cheap items (buying at 10c and selling at 13c gives 10.5% profit after fees and taxes). Repeat that 7 times and you’ve just about doubled your money. Not a bad deal, I’d say, given how fast items move at those prices.
Which is why someone with 2g should prefer to invest in things with greater than 1% profit. Fortunately, something closer to 10% profit is fairly easy to come by for cheap items (buying at 10c and selling at 13c gives 10.5% profit after fees and taxes). Repeat that 7 times and you’ve just about doubled your money. Not a bad deal, I’d say, given how fast items move at those prices.
i will agree i have seen things that have 10%+ profit spread, but they move slower and have higher risk. I don’t have a huge amount of time to play and when I do i prefer to be in the field not sitting at the TP.
I think that is the majority of the players. We obviouly have a few pro TP players as we have pro game players. But most are somewhat casual players who just want to have fun without feeling broke all the time. I recently bought $10 worth of gems mainly to buy transmutation stones.
I checked the exchange rate and that $10 would barely get me ~2G, about 2hrs+ grinding. Or I guess I could use that to buy G to sit at the TP for 2 hrs. (yes i know I can just list it and go play, but it takes time to find worthwhile trades)
The example I used for 10.5% profit was an item with 10c bids and 13c asks. Items at that price aren’t typically the ones that move slow or have high risk.
There’s plenty of ppl (myself included) who made hundrends/thousands of gold on AH, so all did “you cannot make money on AH!!!11oneone” posts are far from truth.
You have made thousands of G on the market? If so you have a massive war chest of G in order to manipulate the market and a small spread of even 1% profit will yield you big returns if it is a fast selling item.
Take the typical player who has say 2G to invest. A 1% profit will yield 2S, rinse repeat over and over with the possibility of losing if the market manipulators like you move it the wrong way.
I have tried it a bit and i can say it is boring as hell. Not my idea of fun.
I have seen you boast about how you can make money on TP multiple times. You aren’t being clever, you are just showing that you started early and prefer to sit for hours on the TP instead of playing the game. Unless of course you have a bot working for you.
I’m on AH for 30 mins daily for 20g income atm. True, at the start I’ve spent more time there, but atm I’m just buying loads of items with only 5% profit, just because I’d rather spend more time enjoying other aspects of game.
What’s your problem about sitting on AH for hours at start to get your first 100 gold? You’re just another of “give me what I want for free” new-age players, aren’t you?
There’s plenty of ppl (myself included) who made hundrends/thousands of gold on AH, so all did “you cannot make money on AH!!!11oneone” posts are far from truth.
You have made thousands of G on the market? If so you have a massive war chest of G in order to manipulate the market and a small spread of even 1% profit will yield you big returns if it is a fast selling item.
Take the typical player who has say 2G to invest. A 1% profit will yield 2S, rinse repeat over and over with the possibility of losing if the market manipulators like you move it the wrong way.
I have tried it a bit and i can say it is boring as hell. Not my idea of fun.
I have seen you boast about how you can make money on TP multiple times. You aren’t being clever, you are just showing that you started early and prefer to sit for hours on the TP instead of playing the game. Unless of course you have a bot working for you.
I’m on AH for 30 mins daily for 20g income atm. True, at the start I’ve spent more time there, but atm I’m just buying loads of items with only 5% profit, just because I’d rather spend more time enjoying other aspects of game.
What’s your problem about sitting on AH for hours at start to get your first 100 gold? You’re just another of “give me what I want for free” new-age players, aren’t you?
No, I don’t expect to get things for free. I really enjoyed the game in the beginning, I was making much more than enough just leveling.
Now the diminishing returns issue has made lvl 80 feel like a massive grind just to get decent equipment.
So my options now are to switch tactics and spend a ton of time in TP, as you have agreed there IS a learning curve, or just keep grinding, or spend a lot of RL money (unless I go to a gold site – which I won’t, which is why I’m here suggesting ways Anet can fix the imbalance).
I, like many others I would assume, do not like sitting on the Trading Post for hours at time with the hope that I will make a small amount of profit. Even standing at the TP for 30 minutes is not my idea of fun. While I understand other players like to play the market and enjoy the ebb and flow of the economy for me it just represents time taken away from what I like to do. That is playing out in the game world. Whether that’s killing mobs, experiencing dynamic events, running dungeons or playing in WvW.
The TP for me represents just another vendor if you will, allowing me to offload any items I do not need for cash or a vendor where I can get materials I need for crafting, equipment, armor or weapons.
I have no skill when it comes to identifying what buys for less and what sells for high. I have no skill when it comes to identifying a trend in an item that will make a quick turn-around in profit. I have no skill in assessing the economy and using that knowledge to make money.
Because of that and other factors, I am consistently poor. I spend money like it is going out of style. So much so that often times I wonder where it all went to.
Kudos to all of you that can turn a consistent profit on the Trading Post and have everything you’d like in game. I just wish someone would write up a detailed guide on how to do so, so the rest of us in the game can have a bit of success as well.
There’s plenty of ppl (myself included) who made hundrends/thousands of gold on AH, so all did “you cannot make money on AH!!!11oneone” posts are far from truth.
You have made thousands of G on the market? If so you have a massive war chest of G in order to manipulate the market and a small spread of even 1% profit will yield you big returns if it is a fast selling item.
Take the typical player who has say 2G to invest. A 1% profit will yield 2S, rinse repeat over and over with the possibility of losing if the market manipulators like you move it the wrong way.
I have tried it a bit and i can say it is boring as hell. Not my idea of fun.
I have seen you boast about how you can make money on TP multiple times. You aren’t being clever, you are just showing that you started early and prefer to sit for hours on the TP instead of playing the game. Unless of course you have a bot working for you.
I’m on AH for 30 mins daily for 20g income atm. True, at the start I’ve spent more time there, but atm I’m just buying loads of items with only 5% profit, just because I’d rather spend more time enjoying other aspects of game.
What’s your problem about sitting on AH for hours at start to get your first 100 gold? You’re just another of “give me what I want for free” new-age players, aren’t you?
No, I don’t expect to get things for free. I really enjoyed the game in the beginning, I was making much more than enough just leveling.
Now the diminishing returns issue has made lvl 80 feel like a massive grind just to get decent equipment.
So my options now are to switch tactics and spend a ton of time in TP, as you have agreed there IS a learning curve, or just keep grinding, or spend a lot of RL money (unless I go to a gold site – which I won’t, which is why I’m here suggesting ways Anet can fix the imbalance).
I have to agree with you that DR system completely broke the other ways of income:
1. Player: I will spend 2 hours today to farm X mobs to get some rare materials for my gear!
Game: Oh you, you’re killing poor mobs for 20 mins already, so we won’t give you any more items from them, unless you like grey stuff.
2. Player: I will spend my time on gathering today so I can sell it on AH for few golds!
Game: Wait a minute, the nodes are hurt and they have feelings, you know? Let them rest for 24 hours.
3. Another issue: karma. You need about 1,1mln karma for your legendary weapon.
Player: Well, I should start farming karma for my Sunrise. Let’s do this meta then. Meta done, oh, there’s a group event there, will probably give me lots of karma!
Game: Sorry, but you have already made outrangerous income of 10k karma, so now you will only get 19 karma per event.
So… yeah. Play your game in a way AN wants you to play. I just can’t wait for them to add DR system to WvW – that will be fun:)
(edited by Cisza.9540)
Kudos to all of you that can turn a consistent profit on the Trading Post and have everything you’d like in game. I just wish someone would write up a detailed guide on how to do so, so the rest of us in the game can have a bit of success as well.
You see, the problem with that is: too many players succesfully playing on AH is making making money harder. Same as for example with gathering: more ppl do it – lower the price is.
But if you spend some time on google – there’s plenty “how to make money on AH” guides with basic stuff.
I just wish someone would write up a detailed guide on how to do so, so the rest of us in the game can have a bit of success as well.
There really is no "magic formula’. Think like your potential customer, know which commodities they will need, and find those that have sufficient volume/margin to turn you a profit.
The only bit of specific “advice” Ill give is this:
Ignore every single commodity on the front page of the TP. Every idiot with a lack of imagination and initiative thinks/thought those were the only places to make money, and they are not only dead wrong, but their little scheme of "flipping’ those products by jumping to the head of the line and buying/selling in small amounts (less than 250) has now been squashed (which is why you see so many of them crying the blues on these forums – because they don’t really want to have to research and seek out profitable markets, they just wanted to press their little easy buttons over and over).
There are literally hundreds of items that move with a great deal of volume that have very little competition. make it your goal to find just one of those, build your bankroll a bit, than find a 2nd, and a 3rd, etc. Eventually, you’ll be diversified into dozens of different items. I’, currently trading 46 items, and I always have "test orders’ working on 2-3 more to see how they fare.
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