Looking for a trading mentor

Looking for a trading mentor

in Players Helping Players

Posted by: Frozenphoenix.8432

Frozenphoenix.8432

Hey GW2 community,
Me and a friend of mine, recently got interested in trading (flipping, investing etc.).
I´ve been looking for some useful information in the internet the last week and already improved, but I still have some problems getting profit. I don´t think that those problems will be solved by trading more and getting more experience. It would be amazing if some amazing member in the community tries to help my improve and teach me some trading mechanics! I can communicate via ts3 and skype. Just write in here!
Hoping for some positive responses.

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Posted by: JustTrogdor.7892

JustTrogdor.7892

Good luck with your search. Most traders don’t just give away their secrets. It is a competitive market after all.

The Burninator

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Posted by: Ardenwolfe.8590

Ardenwolfe.8590

Is that legal? I mean, in-game-wise? Seems shady.

Gone to Reddit.

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Posted by: Andred.1087

Andred.1087

I will tell you everything I know for a modest price of all your gold. No takebacks

“You’ll PAY to know what you really think.” ~ J. R. “Bob” Dobbs

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Posted by: Erukk.1408

Erukk.1408

Good luck with your search. Most traders don’t just give away their secrets. It is a competitive market after all.

^^This^^

The most you’ll probably get is hints on how to do it and things to possibly look out for, because if they give you all their secrets on the best items and what sells best on what days, you’ll only be future competition that might lower their own profits.

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Posted by: Dante.8456

Dante.8456

I doubt you will ever find anyone. Traders only make money by exploiting niches in the market. If they told people then they would no longer be able to make money.

My advice is this:

Buy up unique festival skins during festivals whilst they are cheap (say 10-20g) then wait several months. They rocket upwards and you can sell for profit.

I still have some dragon wing covers which were 5g at one point and are now almost at 150g. Its a long term investment but it pays off without you having to actually do any work

Desolation EU
Guardian / WvW Enthusiast

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Posted by: Crimson Clouds.4853

Crimson Clouds.4853

Is that legal? I mean, in-game-wise? Seems shady.

Flipping is perfectly legal in-game. It’s just like real-life stocks and shares- you buy things when they are cheap and sell when you’ve earnt your profit.

Unfortunately, just like real-life, people who already have a lot of money earn the most profit as they are able to tie up their money into lots of other assets abd earn even more money. But also just like real-life, the riskiest investments often offer the best profit.

So you have to be particularly cunning and determined. its very easy to give up after your first series of losses.

I tried it for a while and was particularly determined to set myself up so that I’d be a long-term TP flipper. I desperately searched for items that weren’t being flipped or weren’t being flipped very much and it was extremely difficult. As soon as you know what to look for you realise that any item that is profitable to flip is already being flipped.

At this point I started to look for less profitable items and instead would buy huge amounts of lots of less profitable items to earn a similar amount of profit… and it was so much work and speadsheets that I felt like it was a detriment to my gaming experience.

So yeah, sorry about rambling on about my own experiences. I think what I’m trying to get at is this:

1) Evaluate how much time/effort you are willing to put into flipping and consequently how it will change your view on the game.
2) If you want to flip, watch a load of YouTube guides to start off with. There are lots of good ones out there. There are also tools like gw2spidy gw2tp etc that are a great help. As already mentioned, very few “hardcore” flippers are going to want to help you out as it increases their competition.
3) Survey the markets for a while- learn what type of items will suit your “flipping style”, work out how much money you want to invest and retrieve over set periods of time.
4) Be determined (at least more determined than I was :P) and don’t give up. If you’re more determined and pushy than your flipping competition, you’ll succeed.

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Posted by: nagr.1593

nagr.1593

gw2spidy.com

look for items that are:
1. decent supply (at least 5+ i would say)
2. high demand

I used to flip months ago, but gave up after sigils market crashed. I think I made like 10g/day with flipping, then again i didn’t take huge risks so you could make a lot more. But you could also lose a lot, for instance I bought a dye for 60g and now it sell for less than half that. I suggest weapon skins market, I used to made a lot flipping that. Some of them you can make more than 100g profit easily, only it might take a few days to sell.

Arun Kar

(edited by nagr.1593)

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Posted by: Ardenwolfe.8590

Ardenwolfe.8590

Interesting. Thank you for the clarification, Crimson.

Gone to Reddit.

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Posted by: Behellagh.1468

Behellagh.1468

I prefer gw2tp.com over gw2spidy. The only thing gw2spidy brings is a running 24 hour average of prices which can be helpful at times.

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