So, I’ve noticed that the exchange rate between gold and gems changes. This means that one could profit by exchanging at the right times.
Is anybody planning on using the gem exchange in this way? What factors affect gem-gold exchange rates?
The Foreign Exchange Market is an international currency exchange. Because exchange rates between currencies fluctuate, one can profit off of exchanging currencies at the correct times.
For example, in July of 2008, the value of the Euro relative to the dollar peaked at $1.60. Now, the Euro is only worth $1.20. That means that, if somebody were to have exchanged Euros to dollars in 2008, he could exchange the dollars back for many more Euros, thus having made a profit.
“The trouble with having an open mind, of course, is that people
will insist on coming along and trying to put things in it.”
— Terry Pratchett
Honestly I’m not knowledgeable on the topic, but yes since the currency fluctuates you’ll obviously be able to turn profit if you play the market. From what I can tell prices are based on user action (sell a lot of gems and the price drop, buy a lot of gems and the price increases). My guess is however that since most players barely have a few gold the prices are low, but as the population becomes richer gem prices will increase.
Yea i was wondering too if its affected by supply/demand factor. Would be great to do investments with gold/gem pair. Bored with game? HEY lets do some trading Can i haz stochastic and moving average indicators pls xD
They have a moving average indicator in the currency exchange window. But a website that gathered this information and displayed it in a variety of formats would be cool. You’d probably have to do it manually though: I doubt that ArenaNet has an API that exposes the gem exchange rate.
“The trouble with having an open mind, of course, is that people
will insist on coming along and trying to put things in it.”
— Terry Pratchett
I have tried, but the prices aren’t fluctuating much. Also, the value for converting gems to gold and gold to gems are not the same (Convert 1g to gems and convert those gems back to gold immediately and you’ll likely have like 80s). Every 30-60 minutes I pop open the conversion window and check prices. There just hasn’t been enough of a swing in pricing to make any kind of profit with this yet.
Well if the exchange rate between gems and gold are independent of each other, they could stabilize at prices such that it’s never profitable. They’d have to swing past each other in order to profit and I’m not sure that will necessarily happen :|
“The trouble with having an open mind, of course, is that people
will insist on coming along and trying to put things in it.”
— Terry Pratchett
This also doesnt work because you cannot convert gems → usd
So right now your best path is USD→Gems<→Gold
Also, the trading post as a day trading option or commodities market has sorta stabilized as well since people have rapidly figured out you need to buy for 15% less than you sell. So only harvested items can make a profit. The vendor value sets an artificial floor.
The moving indicator API is already web-based. I found this out when I had connection issues with it and got a typical 404. I believe it is .PHP to some degree.
As for the ForEx, I’ve already been doing that, but have only been playing about a week so my sample is very limited. I did notice a big drop in prices the day before my first login, so I guess I was lucky there.
As for the gold to gem, gem to gold exchange rate, I’m unclear on that as well as I’ve only been using gold to gem exchange.
It’s going to be pretty darn hard to make a ForEx profit unless the Gem price somehow swings by +- 30%. Yes, 30%.
Compare buying Gems to selling Gems – the average price difference is 30s Buy, 20s Sell. So basically, you need to buy at 20s, pray that the price spikes back up to 30s and then MAYBE you’ll make a profit of a couple coppers before the price sinks back down again. And if PLEX is any indication, Gem prices are likely to remain near-constant.
Can i haz stochastic and moving average indicators pls xD