While I am doing monotonous things like hunting... Yes, to me it is monotonous... I randomly think of things I don't consciously consider, and then I figure ok now I have something to blog about. Which, is why I am posting now.
A lot of people get a lot more markup for things that otherwise are sold to the trade terminal. The reason this works is because if you need a few pecs worth of a certain ingredient in a huge 10 or 20 ped or more per click craft, it's ok to pay 200% for tt food. If you are dropping several peds per click, or in some cases maybe a ped or two, it won't really affect your outcome much at all. You have two options. Buy in bulk so that you can get it "cheap", but why buy 4,000 ingots of lyst when you need 40 of them? Or buy what you need so that all those peds you would otherwise tie up are free for the main ingredients so you can get more clicks in your run.
So, when you are determining what you can get for smaller lots of "tt food"... Consider when you were crafting. What were you buying and what percentages were you paying for your small lots? Chances are similar lots for similar markups will continue to sell. Convenience is a service. Small lots can be convenient. So, the extra markup is the natural cost incurred by convenience, especially since you still have auction fees to contend with.
The only long term profits tend to come from markups. Not always, but, generally. I know the exceptions are rare but I do know of a very small few. Basically if you can make an extra few peds every hunt, thats an extra few peds you won't have to deposit later.
Go through, write down a list of materials youve bought in small quantities and the price range youve paid for them. This will give you a working guide from which to base future listings on. Certain wools and cloths are good for around 120 to 150% in small lots. Leathers.. Wood... Anything you can't generally do something with.
I hope this gives you some encouragement when deciding what to do with your hunting loot. Good luck!
Goldbarons Coin Rings
Handcrafted High Quality Jewelry Starting at $20
Cryptocurrency Casino
They really do pay out! Several cryptocurrencies accepted!
Showing posts with label Profit. Show all posts
Showing posts with label Profit. Show all posts
Sunday, June 15, 2014
Monday, January 23, 2012
New Planets, New Frontiers, New Opportunities
It was recounted to me a couple years ago how many of what we would now call "Ubers", the ones running around with 5 and 6 digits of markup on their weapons armor and other tools... Made their pile of Peds simply by having started early on, in the beginning of Entropia. It is unknown how many people are included in this group, but I often wonder when I see screenshots of hofs with astronomical ped balances... How'd they do it? Simple... A lot of what USED to be just every day cheap items, became scarce but highly desireable when the Entropia Universe took off and became more and more populated. There was a... Boom in markups and demand for things, especially weapons. I am told some players capitalized on this drastic rise in prices that occured many years ago already.
It was probably 2009 when I was told of this. The source of the information came from a player who himself had done this, taken advantage of common things becoming uncommon and valuable. It is quite possible that same person may actually read this and maybe not remember having talked to me about it... But I want to open everyones eyes to the future. NOW is the furthest back in time we will ever be. How's that for something to ponder?
Right now we are seeing infant worlds, much how Calypso started out to be sure... Except there is a huge difference. Calypso did not have other planets already successful from which to spinoff and use as a foundation. Rocktropia, Arkadia, Next Island... All are able to lean on Calypso, a well established economy and solid player base. There is no way that any planet will fail so long as this strong foundation remains. However, there is still great opportunity.
Over the years, many tools, weapons, have been changed, or eliminated. Some things quit dropping. And some of those items are worth a great fortune in peds to the lucky few who own them.We do not know what Rocktropia weapons or tools will become rare or valuable... Certainly, it will do so to a lesser extent than was seen in the earlier days of Entropia... But nothing is 100% right at the beginning. Take a look at your favorite television series. Compare say, seasons one and two, to seasons five or seven... Don't you notice something? The components making up that show begin to grow together and flow more smoothly, while at the beginning, no one knew for sure what direction things would take. If you compare the early days of Entropia to now... You can definitely see the point I am making here. Things have came together smoothly for Calypso. But now, we embark on the other planets journeys. It will take a few years, but they will get them ironed out.
Right now, yes, there is a lot of loot out there that has no use at present. Hopefully this will be fixed. But learn the lesson that has already been observed... Android Gears were dropping by the piles, but there was no use for them so they were TTd. Now their drop rate is so low that they command a 6200% markup on orders. The same thing can happen with other components that are dropping.
But what I am really writing about now is this: Look to the future. Based on what you know... What items do you feel are going to be valuable and needed perhaps by yourself or someone else? What weapons are cheap now but have the potential of going up a lot? I know L weapons make it a moot point... Being L, they are no longer items so much as they are commodities. A half condition Isis CB5 (L) at 250% is no different from a full condition Isis CB5 (L) at 200%. It's a commodity. It comes down to X gun is only worth about Y markup. Unlimited items and tools and weapons is where there is a lot of room for profits. For instance... No one in their right mind would hunt with a L weapon that costs 10K% MU. But... A UL weapon that is +5K peds... + 100K peds... If it is worth it to the person that has the money, and they want it bad enough, they can keep it as long as it suits them.
The message I am trying to put out to all of you is this:
You will probably not see ridiculous price increases especially in light of the bad economy and also with more planets, there being more competition between "brands", and what may be expensive from one planet's product line, the equivalent may be much cheaper from another planet, and people will always compare. But there will still be a few items of which only a few will ever exist, and these, if you can get them early enough, and hang on to them, there is profit to be had.
But when looking at items, always bear in mind that all as it is now, shall not forever remain. Those items you refused to hold onto might be a small gold mine some day like those Android Gears... Or... Maybe that 800% ore will turn to TT food as has happened before too. But at TT prices, one can only go up!
Also... I speak this last paragraph from my own experience... If you are doing so badly that you find yourself TTing things you wouldnt have dreamt of TTing... It's too late and your luck is too bad for that few peds to save you. Rather, you should find other sources of peds, that those items will be of more value to you later than now.
It was probably 2009 when I was told of this. The source of the information came from a player who himself had done this, taken advantage of common things becoming uncommon and valuable. It is quite possible that same person may actually read this and maybe not remember having talked to me about it... But I want to open everyones eyes to the future. NOW is the furthest back in time we will ever be. How's that for something to ponder?
Right now we are seeing infant worlds, much how Calypso started out to be sure... Except there is a huge difference. Calypso did not have other planets already successful from which to spinoff and use as a foundation. Rocktropia, Arkadia, Next Island... All are able to lean on Calypso, a well established economy and solid player base. There is no way that any planet will fail so long as this strong foundation remains. However, there is still great opportunity.
Over the years, many tools, weapons, have been changed, or eliminated. Some things quit dropping. And some of those items are worth a great fortune in peds to the lucky few who own them.We do not know what Rocktropia weapons or tools will become rare or valuable... Certainly, it will do so to a lesser extent than was seen in the earlier days of Entropia... But nothing is 100% right at the beginning. Take a look at your favorite television series. Compare say, seasons one and two, to seasons five or seven... Don't you notice something? The components making up that show begin to grow together and flow more smoothly, while at the beginning, no one knew for sure what direction things would take. If you compare the early days of Entropia to now... You can definitely see the point I am making here. Things have came together smoothly for Calypso. But now, we embark on the other planets journeys. It will take a few years, but they will get them ironed out.
Right now, yes, there is a lot of loot out there that has no use at present. Hopefully this will be fixed. But learn the lesson that has already been observed... Android Gears were dropping by the piles, but there was no use for them so they were TTd. Now their drop rate is so low that they command a 6200% markup on orders. The same thing can happen with other components that are dropping.
But what I am really writing about now is this: Look to the future. Based on what you know... What items do you feel are going to be valuable and needed perhaps by yourself or someone else? What weapons are cheap now but have the potential of going up a lot? I know L weapons make it a moot point... Being L, they are no longer items so much as they are commodities. A half condition Isis CB5 (L) at 250% is no different from a full condition Isis CB5 (L) at 200%. It's a commodity. It comes down to X gun is only worth about Y markup. Unlimited items and tools and weapons is where there is a lot of room for profits. For instance... No one in their right mind would hunt with a L weapon that costs 10K% MU. But... A UL weapon that is +5K peds... + 100K peds... If it is worth it to the person that has the money, and they want it bad enough, they can keep it as long as it suits them.
The message I am trying to put out to all of you is this:
You will probably not see ridiculous price increases especially in light of the bad economy and also with more planets, there being more competition between "brands", and what may be expensive from one planet's product line, the equivalent may be much cheaper from another planet, and people will always compare. But there will still be a few items of which only a few will ever exist, and these, if you can get them early enough, and hang on to them, there is profit to be had.
But when looking at items, always bear in mind that all as it is now, shall not forever remain. Those items you refused to hold onto might be a small gold mine some day like those Android Gears... Or... Maybe that 800% ore will turn to TT food as has happened before too. But at TT prices, one can only go up!
Also... I speak this last paragraph from my own experience... If you are doing so badly that you find yourself TTing things you wouldnt have dreamt of TTing... It's too late and your luck is too bad for that few peds to save you. Rather, you should find other sources of peds, that those items will be of more value to you later than now.
Friday, December 23, 2011
ADVICE: Do Not Underestimate Land Deed ROI
I want to give you this piece of advice as a christmas present in that you may understand it and take it to heart. I just had an epiphany of thoughts, and I know a lot of you see the returns offered by the Land Deed dividends as paltry. But let me shine some light on this for you.
Let's compare the ROI on a Land Deed to say, a savings account interest, or perhaps a Certificate of Deposit:
Savings accounts with your local bank only offer maybe .25% to 1% Interest PER YEAR. So, on $100, you MIGHT get as much as $1. That's 10 peds per year per hundred dollars in your savings.
CD's might offer 2% or 4%... So you are talking $2 to $4 per hundred per year. 20 to 40 peds per year that way.
Calypso land deeds are paying out between 5 and 6 peds a week!!!! Do you know how significant this is?! That's 50 cents to 60 cents a week!!! You are getting a years worth of bank interest in about 2 weeks time or less on that same $100! Say you are getting 250 peds a year, you are talking 25% yield per year. THERE IS NO CD IN THE WORLD RIGHT NOW THAT I AM AWARE OF THAT YOU CAN MAKE MORE THAN 5% ON.
Robert G Allen wrote in his book multiple streams of income, that just saving $1 a day, and earning 5% per year interest will make you a multi millionaire within 20 years by compounding interest. Of course, the only way your ROI will compound is if you use the dividends to buy more shares... BUT imagine what you can do with 25% interest!!!
Of course, the playership should grow over time, every product and service has it's critical mass at which things go crazy at. When that happens, I will bet dollars to beans that you will see the ROI go far beyond 25% per year.
No, I have no shares, and no vested interest in how well they do or what their price goes to. Oh yes, I would like to have some, but maybe some day... But here lies a tremendous opportunity to those of you who are quick enough and sharp enough not to squander it.
But even if the ROI drops to 5% for some reason... YOU ARE STILL WAY AHEAD OF WHAT BANKS ARE PAYING!
Let's compare the ROI on a Land Deed to say, a savings account interest, or perhaps a Certificate of Deposit:
Savings accounts with your local bank only offer maybe .25% to 1% Interest PER YEAR. So, on $100, you MIGHT get as much as $1. That's 10 peds per year per hundred dollars in your savings.
CD's might offer 2% or 4%... So you are talking $2 to $4 per hundred per year. 20 to 40 peds per year that way.
Calypso land deeds are paying out between 5 and 6 peds a week!!!! Do you know how significant this is?! That's 50 cents to 60 cents a week!!! You are getting a years worth of bank interest in about 2 weeks time or less on that same $100! Say you are getting 250 peds a year, you are talking 25% yield per year. THERE IS NO CD IN THE WORLD RIGHT NOW THAT I AM AWARE OF THAT YOU CAN MAKE MORE THAN 5% ON.
Robert G Allen wrote in his book multiple streams of income, that just saving $1 a day, and earning 5% per year interest will make you a multi millionaire within 20 years by compounding interest. Of course, the only way your ROI will compound is if you use the dividends to buy more shares... BUT imagine what you can do with 25% interest!!!
Of course, the playership should grow over time, every product and service has it's critical mass at which things go crazy at. When that happens, I will bet dollars to beans that you will see the ROI go far beyond 25% per year.
No, I have no shares, and no vested interest in how well they do or what their price goes to. Oh yes, I would like to have some, but maybe some day... But here lies a tremendous opportunity to those of you who are quick enough and sharp enough not to squander it.
But even if the ROI drops to 5% for some reason... YOU ARE STILL WAY AHEAD OF WHAT BANKS ARE PAYING!
Sunday, December 4, 2011
Speculation on Entropia Universe Returns
Fact: MindArk's standard response regarding any payback issue or loot streak issues says that total returns are based on a PERCENTAGE.
So, since this is an important question everyone tends to ask at some point, I thought I would offer my own opinion as to the subject.
First, every indication is that the system does NOT pay out more Peds than it takes in. The system is obviously sustainable, and no company in their right mind would put that at risk. Many real life friends have obtained their payouts without problem other than waiting several weeks to several months for it to finally arrive. However, I do want to point out some people that haven't been paid have likely given Mindark a reason not to pay them such as violation of terms and conditions. There HAVE been exploits. There may still be some exploits. But the thing of it is... Exploits destroy the value that makes this game worth playing. It is a theft against each and every one of us that play.
Second, I believe the percentage paid out is based on the total spent into the system. Most of what everyone puts in, comes out somewhere along the line. The main edge they would have would be in keeping a portion of the repairs and decay, as well as auction fees, but who knows what percentage of each bomb or gunshot goes to MA directly. However, granted that even an absolute noob can tower on their first day unamped, which has happened, not often though, indicates that you do not have to pay in more than you loot.
But what I feel takes place is this: Every ped and pec spent is tracked. Every transaction you make. Loots are only figured in TT returns. But the higher markup items you use, the higher markup your loot tends to be, such as finding Rugaritz or Dunkel with the VRX2000 finder. But the thing is, the percentage kept by MA is easily compensated for by markup. Markup is extra value which derives from supply and demand. There is a limited amount of money fighting for a limited amount of resources and items. Markup is essentially what has come out of other people's pockets. But it ensures that everyone stands a good chance at either break even or profit.
IF you had to rely only on TT returns, you notice quickly that you almost NEVER run a surplus. You might have 1 in 10 mining runs that give you more in TT value than you spent. However, 7 of those 10 runs may bring you profit with markup.
I also want to stress that skills do affect returns as well. As a level 1 or level 5 prospector, I almost exclusively mined lysterium, oil, belkar, blausariam... As I ranked up, I gradually seen shifts from the low value ores to higher value ores such as narcanisum and niksarium, and later, kanerium became a regular find. Also, I have noticed as my skills go up, the frequencies, and average sizes of my hofs and globals have gone up.
I am not saying you can't hit good ores with low skills. I'm just saying you are going to hit fewer than if you had more skill. At level 28 prospector, I almost never hit Lysterium, and only occasionally hit Belkar and Blausariam.
So while they are paying out a percentage of what they take in, I wholly believe they use skills to control the distribution of that percentage. Certain finders are better at finding certain ores. But it takes certain skills to use certain finders. But also, another variable comes into play. It does matter where you are. You can mine all you want on those islands south of Port Atlantis and never hit anything but Lysterium and Oil. But... That's not to say you wont have ANY compensation for your troubles since you do still stand a chance of finding say, angel scales or hansidian, but TT value is low, and so your reward is simply dependent on what others are willing to pay for the stuff. But it works out, because chances are to use a 3K% markup ingredient to craft, the item it goes into is worth a great deal of markup as well, so the crafter can easily recoup his investment, and it is ultimately the final customer footing the bill for the materials that went into making the item.
There are a lot of complex principles at work here in Entropia... I hope I've been able to shine some light and open some minds as to this complexity. Think and play smarter, and more economical, and you will be rewarded as I have. But if you treat it like a casino, expect the same results. There are days no matter how much you spend you simply can't buy a global or a hof, I am proof of that. But if I play cautiously, and I am not expecting the big hits, they do happen! I certainly did not expect my XXI cobalt that I hit for 1322 peds, my largest loot in game and first four digit hof.
Good luck!!!
So, since this is an important question everyone tends to ask at some point, I thought I would offer my own opinion as to the subject.
First, every indication is that the system does NOT pay out more Peds than it takes in. The system is obviously sustainable, and no company in their right mind would put that at risk. Many real life friends have obtained their payouts without problem other than waiting several weeks to several months for it to finally arrive. However, I do want to point out some people that haven't been paid have likely given Mindark a reason not to pay them such as violation of terms and conditions. There HAVE been exploits. There may still be some exploits. But the thing of it is... Exploits destroy the value that makes this game worth playing. It is a theft against each and every one of us that play.
Second, I believe the percentage paid out is based on the total spent into the system. Most of what everyone puts in, comes out somewhere along the line. The main edge they would have would be in keeping a portion of the repairs and decay, as well as auction fees, but who knows what percentage of each bomb or gunshot goes to MA directly. However, granted that even an absolute noob can tower on their first day unamped, which has happened, not often though, indicates that you do not have to pay in more than you loot.
But what I feel takes place is this: Every ped and pec spent is tracked. Every transaction you make. Loots are only figured in TT returns. But the higher markup items you use, the higher markup your loot tends to be, such as finding Rugaritz or Dunkel with the VRX2000 finder. But the thing is, the percentage kept by MA is easily compensated for by markup. Markup is extra value which derives from supply and demand. There is a limited amount of money fighting for a limited amount of resources and items. Markup is essentially what has come out of other people's pockets. But it ensures that everyone stands a good chance at either break even or profit.
IF you had to rely only on TT returns, you notice quickly that you almost NEVER run a surplus. You might have 1 in 10 mining runs that give you more in TT value than you spent. However, 7 of those 10 runs may bring you profit with markup.
I also want to stress that skills do affect returns as well. As a level 1 or level 5 prospector, I almost exclusively mined lysterium, oil, belkar, blausariam... As I ranked up, I gradually seen shifts from the low value ores to higher value ores such as narcanisum and niksarium, and later, kanerium became a regular find. Also, I have noticed as my skills go up, the frequencies, and average sizes of my hofs and globals have gone up.
I am not saying you can't hit good ores with low skills. I'm just saying you are going to hit fewer than if you had more skill. At level 28 prospector, I almost never hit Lysterium, and only occasionally hit Belkar and Blausariam.
So while they are paying out a percentage of what they take in, I wholly believe they use skills to control the distribution of that percentage. Certain finders are better at finding certain ores. But it takes certain skills to use certain finders. But also, another variable comes into play. It does matter where you are. You can mine all you want on those islands south of Port Atlantis and never hit anything but Lysterium and Oil. But... That's not to say you wont have ANY compensation for your troubles since you do still stand a chance of finding say, angel scales or hansidian, but TT value is low, and so your reward is simply dependent on what others are willing to pay for the stuff. But it works out, because chances are to use a 3K% markup ingredient to craft, the item it goes into is worth a great deal of markup as well, so the crafter can easily recoup his investment, and it is ultimately the final customer footing the bill for the materials that went into making the item.
There are a lot of complex principles at work here in Entropia... I hope I've been able to shine some light and open some minds as to this complexity. Think and play smarter, and more economical, and you will be rewarded as I have. But if you treat it like a casino, expect the same results. There are days no matter how much you spend you simply can't buy a global or a hof, I am proof of that. But if I play cautiously, and I am not expecting the big hits, they do happen! I certainly did not expect my XXI cobalt that I hit for 1322 peds, my largest loot in game and first four digit hof.
Good luck!!!
Monday, November 14, 2011
ADVICE: To TT or not to TT
There are times when you simply cannot profitably sell something for a markup if it is too low. Take Oil for example. It had a common markup of about 104% on orders or less, and if you competitively list it, you are lucky to even sell it at 105%. But, I was trying to fill an order once... My refiner broke a lot trying to refine a couple hundred peds of crude oil. By the time I was done, the orders were not high enough to cover the refiner decay and the listing fee. In short... TTing my oil was more profitable than auctioning it off.
Generally, I consider anything below 105% to be TT food, unless I have a trader that will buy it from me, or someone in my society can use it. If it is someone in the Society, I generally will sell it to them for TT value, it helps them out, and they will gladly help you out in the future too.
You have to look at it this way too: If you have something at say, 103%, and you are holding it and holding it trying to gather enough to sell... Finally you have thousands of peds worth, or maybe hundreds, and you sell it for your little bit of markup... If you don't feel foolish, you ought to when I tell you... You had no doubtedly deposited so you had more peds to play with because all your peds were tied up in loot, correct? Well... You effectively lost half a percent if you sold your tt food at 103% to a trader, or even on auction. How? Because there is approximately a 3.65% fee deducted from your peds when you deposit to cover the credit card transaction.
So, it is cheaper just to TT the low markup stuff if it means having to deposit.
If you are fortunate enough to have a large ped roll, then never mind me... It is wiser to get any extra you can out of what you have. Feel free to read my posts regarding survivability to find out more on why this makes a big difference.
It is mysterious to me how the auction fees work in Entropia. Some items is possible to fill orders at 102% on auction and still have some slight gain. Other items, you can't pay the auction fee with anything less than 105%... You just have to look closely at what you are selling and what all the costs involved are, otherwise you will find not all opportunities are ge drd le s.
Always remember a loss is a loss no matter how small.
I generally do not recommend TTing anything over 105%... Exceptions are for things that either sell slowly or not at all. If there is no demand, you can't expect to sell it for any markup.
Under 105%, is TT food.
Generally, I consider anything below 105% to be TT food, unless I have a trader that will buy it from me, or someone in my society can use it. If it is someone in the Society, I generally will sell it to them for TT value, it helps them out, and they will gladly help you out in the future too.
You have to look at it this way too: If you have something at say, 103%, and you are holding it and holding it trying to gather enough to sell... Finally you have thousands of peds worth, or maybe hundreds, and you sell it for your little bit of markup... If you don't feel foolish, you ought to when I tell you... You had no doubtedly deposited so you had more peds to play with because all your peds were tied up in loot, correct? Well... You effectively lost half a percent if you sold your tt food at 103% to a trader, or even on auction. How? Because there is approximately a 3.65% fee deducted from your peds when you deposit to cover the credit card transaction.
So, it is cheaper just to TT the low markup stuff if it means having to deposit.
If you are fortunate enough to have a large ped roll, then never mind me... It is wiser to get any extra you can out of what you have. Feel free to read my posts regarding survivability to find out more on why this makes a big difference.
It is mysterious to me how the auction fees work in Entropia. Some items is possible to fill orders at 102% on auction and still have some slight gain. Other items, you can't pay the auction fee with anything less than 105%... You just have to look closely at what you are selling and what all the costs involved are, otherwise you will find not all opportunities are ge drd le s.
Always remember a loss is a loss no matter how small.
I generally do not recommend TTing anything over 105%... Exceptions are for things that either sell slowly or not at all. If there is no demand, you can't expect to sell it for any markup.
Under 105%, is TT food.
Friday, September 16, 2011
My Hunting Experiment: Why I am succeeding now, and wasn't before.
It has been a while since I have posted in my blog here. I regret the delay in bringing you new information. But I have been doing some research this whole time and thought it would be worthwhile to blog about. There really are no trade secrets here, since you can apply this to your favorite mob, and see how it works out for you.
Out of 300 ped budget...
OLD METHOD:
Buy 50 peds of ammo, 100 peds bombs, 50 peds on repair and maybe another 100 peds on L gun or amps for mining finder.
I'd get maybe a 25% return on my hunting loot and maybe a 50 to 80% return on my mining.
NEW METHOD:
Buy a few hundred peds of ammo. DO NOT SELL ANY LOOT until you have used up all your ammo. I found that there was less wasted and loss peds by holding onto my loot until the very end. You can still mine and craft if you want to. But keep your mining and crafting supplies and budget separate from your hunting.
What you will find is, your chances at globals are much higher... I had not globalled since 2 years ago while hunting. That was my first global which took me 2 years of hunting to get that! Well, my friend explained his method, and that's what I been doing ever since, and after one 200 ped hunt and six 100 ped hunts, I am only down maybe 10 or 20 peds from 300. 100 of that was used to buy an economic L gun and UL amp. The 200 ped hunt lost 100 peds. No surprise there. So I repaired and rearmed. 100 ped hunts then on out.
Well, by the fourth trip or so, I got my 72 ped global. A ton of mini globals, that being anything large but under 50 peds. By the end of that trip, I was back to my original 300 peds.
I had to upgrade some of my armor... NOTE TO NOOBS: DO NOT USE KOBOLD FOR ANYTHING EXCEPT FEFFOIDS. IT IS EXTREMELY BAD TO USE FOR ARGOS! You want Ghost or Shogun instead! 5B plates for most mobs and 6A's for Drones.
But now after every 100 ped hunt, I am having a few more peds than repair costs. So bigger runs mean a bigger chance to get something good.
Bottom line is, you can't just hunt with a few peds and expect to get good loot. You either do really really well on a short hunt, or VERY VERY BAD. It takes time and sheer number of kills for it to balance out.
So I don't recommend hunting with less than 300 peds for ammo after you bought all your weapons and other gear. And then don't recycle it as you go because then it is so much easier to waste it. Wait til you are all done and you will find that you can keep paying for run after run after run!
Out of 300 ped budget...
OLD METHOD:
Buy 50 peds of ammo, 100 peds bombs, 50 peds on repair and maybe another 100 peds on L gun or amps for mining finder.
I'd get maybe a 25% return on my hunting loot and maybe a 50 to 80% return on my mining.
NEW METHOD:
Buy a few hundred peds of ammo. DO NOT SELL ANY LOOT until you have used up all your ammo. I found that there was less wasted and loss peds by holding onto my loot until the very end. You can still mine and craft if you want to. But keep your mining and crafting supplies and budget separate from your hunting.
What you will find is, your chances at globals are much higher... I had not globalled since 2 years ago while hunting. That was my first global which took me 2 years of hunting to get that! Well, my friend explained his method, and that's what I been doing ever since, and after one 200 ped hunt and six 100 ped hunts, I am only down maybe 10 or 20 peds from 300. 100 of that was used to buy an economic L gun and UL amp. The 200 ped hunt lost 100 peds. No surprise there. So I repaired and rearmed. 100 ped hunts then on out.
Well, by the fourth trip or so, I got my 72 ped global. A ton of mini globals, that being anything large but under 50 peds. By the end of that trip, I was back to my original 300 peds.
I had to upgrade some of my armor... NOTE TO NOOBS: DO NOT USE KOBOLD FOR ANYTHING EXCEPT FEFFOIDS. IT IS EXTREMELY BAD TO USE FOR ARGOS! You want Ghost or Shogun instead! 5B plates for most mobs and 6A's for Drones.
But now after every 100 ped hunt, I am having a few more peds than repair costs. So bigger runs mean a bigger chance to get something good.
Bottom line is, you can't just hunt with a few peds and expect to get good loot. You either do really really well on a short hunt, or VERY VERY BAD. It takes time and sheer number of kills for it to balance out.
So I don't recommend hunting with less than 300 peds for ammo after you bought all your weapons and other gear. And then don't recycle it as you go because then it is so much easier to waste it. Wait til you are all done and you will find that you can keep paying for run after run after run!
Monday, May 30, 2011
Trading: THE Road To Profits
I am an experienced trader and I have learned so many things the hard way I do not wish to give my secrets away... But I will share enough to help you understand and learn to trade.
By itself, Entropia is a negative expectation game. This means that because of decay and the unknown distribution of loots, if no new money were added, the economy would dry up and everyone after enough time would be broke. Fortunately people like myself are happy to deposit a nominal amount each month, which I don't mind.. $50 in Entropia lasts much longer than $50 in a casino... Or in a gas tank lol.
So how do you turn it into a positive expectation game? That is what markup does. Instead of mindark crediting you for tt value of an item, other people will pay a premium for things based on supply and demand. This increases the amount of peds circulating because the more spent in markup, the more that is deposited. But when markup is considered it is possible to suffer very heavy tt losses but make a slight profit.
Items and resources are always going up and down in markup. The real genius to the game is that the TT value never changes. This limits mindark liabilities to the player in a worst case scenario, and solves the problem of calculating loots with a rubber ruler.
The old adage buy low and sell high is king here. Say an ore is 140% markup on the auction. If you find a miner who wants to sell without waiting for auctions to do the job not to mention the fees charged to the miner for the auction, you could reasonably offer 135%... Maybe as low as 130%... But remember, you give someone too short of a deal and you will be ruined as a trader! If you are losing just a few percent on each crafting run, the cheaper prices from buying directly can mean break even or profit!
If you want to trade full time it is important to identify your customers. Who will you buy from and sell to? What is an acceptable profit margin? For a little while I was seeing traders on the asteroid offering two points under market value... It is nuts to buy a 200% ore at 198%... There was no way to compete with that so I had to quit trading. After a while the noons must have slit their own throats as prices later returned to a viable level... Remember it is a 50 ped round trip to asteroid and the only way miners get good markup on ores up there is traders. If not for the trader either the miner ties up all their peds and returns to planet to sell or they TT their ores.
So you got to also factor in other costs such as auction fees... I always strive to buy for no higher a price than break even if I have to let go of my ores at auction prices including the auction fees. If traders can't make profit then they go out of business... Which if someone is willing to pay near market value for something that you can't do, let them. If it is a bad deal for you it will hurt them and they won't be competing for long.
So, with everything said, I wish to highlight some important advice for trading:
1. Do not be afraid to offer TT value on a near TT item...
2. Always buy anything you can for TT... This does not mean screw over your customer eiher though... Always offer a fair price. For ores at 110% to 140% fair is usually 5 points off. As markup goes up, you can knock more points off... Say a 5K% Dunkel Particle... Is best to offer 4K% or so.
3. If a trader is offering more for something than you are paying, and you feel you can't beat their price, then perhaps selling all you have of that item for a quick profit is a good idea.
4. Always check orders... Sometimes you can be profitably surprised :)
5. Do NOT go up to people and initiate trades at random... This will piss people off and a pissed off person won't do business with you.
6. Be kind and courteous at all times...
7. Be very careful of the society you join. Joining one of the notoriously bad ones will give you an instant and epic fail as a trader.
8. Conduct your trades as timely and accurately as possible.
9. Always check prices so you can offer a fair deal from day to day.
10. If prices drop it is best to hold your inventory until it goes back up.
11. Ores run in cycles... They have a normal high low range. Narcanisum ranges from 130% to 170% on average for instance. This means you can identify bargain prices and stock up.
12. Regardless of what prices are you buy with enough margin for profit but if it takes you a long time to flip your inventory be careful.
13. Ask your customers to compare your offer with competitors. Most times they won't bother :) but it gives them confidence in you.
14. Profits are better than luck.
15. Don't get greedy lest you destroy your reputation and clientele.
16. If you think trading is slow, figure out how fast you can sweat and then see how many days it would take to sweat what you just made on one trade :)
17. Always be helpful to noons. They may not have much to trade now but they will remembebyour kindness and reward you with loyalty.
18. Remember... All deals are final and any errors are up to the people Involved. Unless mindark themselves have been harmed by your actions, they will not intervene on any finalized trade.
19. Restrain your spending. Every ped you use is one less ped that can make you money.
I will revise this post in the near future and add more to it so stay tuned!
The biggest advantage to trading is there are no tools to decay or risk to find the loot. And if you have trouble making peds... Just remember to ask yourself what a Ferengi from Star Trek would do :)
By itself, Entropia is a negative expectation game. This means that because of decay and the unknown distribution of loots, if no new money were added, the economy would dry up and everyone after enough time would be broke. Fortunately people like myself are happy to deposit a nominal amount each month, which I don't mind.. $50 in Entropia lasts much longer than $50 in a casino... Or in a gas tank lol.
So how do you turn it into a positive expectation game? That is what markup does. Instead of mindark crediting you for tt value of an item, other people will pay a premium for things based on supply and demand. This increases the amount of peds circulating because the more spent in markup, the more that is deposited. But when markup is considered it is possible to suffer very heavy tt losses but make a slight profit.
Items and resources are always going up and down in markup. The real genius to the game is that the TT value never changes. This limits mindark liabilities to the player in a worst case scenario, and solves the problem of calculating loots with a rubber ruler.
The old adage buy low and sell high is king here. Say an ore is 140% markup on the auction. If you find a miner who wants to sell without waiting for auctions to do the job not to mention the fees charged to the miner for the auction, you could reasonably offer 135%... Maybe as low as 130%... But remember, you give someone too short of a deal and you will be ruined as a trader! If you are losing just a few percent on each crafting run, the cheaper prices from buying directly can mean break even or profit!
If you want to trade full time it is important to identify your customers. Who will you buy from and sell to? What is an acceptable profit margin? For a little while I was seeing traders on the asteroid offering two points under market value... It is nuts to buy a 200% ore at 198%... There was no way to compete with that so I had to quit trading. After a while the noons must have slit their own throats as prices later returned to a viable level... Remember it is a 50 ped round trip to asteroid and the only way miners get good markup on ores up there is traders. If not for the trader either the miner ties up all their peds and returns to planet to sell or they TT their ores.
So you got to also factor in other costs such as auction fees... I always strive to buy for no higher a price than break even if I have to let go of my ores at auction prices including the auction fees. If traders can't make profit then they go out of business... Which if someone is willing to pay near market value for something that you can't do, let them. If it is a bad deal for you it will hurt them and they won't be competing for long.
So, with everything said, I wish to highlight some important advice for trading:
1. Do not be afraid to offer TT value on a near TT item...
2. Always buy anything you can for TT... This does not mean screw over your customer eiher though... Always offer a fair price. For ores at 110% to 140% fair is usually 5 points off. As markup goes up, you can knock more points off... Say a 5K% Dunkel Particle... Is best to offer 4K% or so.
3. If a trader is offering more for something than you are paying, and you feel you can't beat their price, then perhaps selling all you have of that item for a quick profit is a good idea.
4. Always check orders... Sometimes you can be profitably surprised :)
5. Do NOT go up to people and initiate trades at random... This will piss people off and a pissed off person won't do business with you.
6. Be kind and courteous at all times...
7. Be very careful of the society you join. Joining one of the notoriously bad ones will give you an instant and epic fail as a trader.
8. Conduct your trades as timely and accurately as possible.
9. Always check prices so you can offer a fair deal from day to day.
10. If prices drop it is best to hold your inventory until it goes back up.
11. Ores run in cycles... They have a normal high low range. Narcanisum ranges from 130% to 170% on average for instance. This means you can identify bargain prices and stock up.
12. Regardless of what prices are you buy with enough margin for profit but if it takes you a long time to flip your inventory be careful.
13. Ask your customers to compare your offer with competitors. Most times they won't bother :) but it gives them confidence in you.
14. Profits are better than luck.
15. Don't get greedy lest you destroy your reputation and clientele.
16. If you think trading is slow, figure out how fast you can sweat and then see how many days it would take to sweat what you just made on one trade :)
17. Always be helpful to noons. They may not have much to trade now but they will remembebyour kindness and reward you with loyalty.
18. Remember... All deals are final and any errors are up to the people Involved. Unless mindark themselves have been harmed by your actions, they will not intervene on any finalized trade.
19. Restrain your spending. Every ped you use is one less ped that can make you money.
I will revise this post in the near future and add more to it so stay tuned!
The biggest advantage to trading is there are no tools to decay or risk to find the loot. And if you have trouble making peds... Just remember to ask yourself what a Ferengi from Star Trek would do :)
Wednesday, April 20, 2011
Welcome to my Entropia blog!
There are a lot of people wondering where the best places to mine what are, or what items they should craft, what skills to focus on... I am here to help. I have been an Entropian since summer of 2007... Hard to believe my avatar will be four years old :( Time goes by so very fast.
I have done a lot, I have tried a lot. I have experimented with theories. I have studied statistics. I have successfully been in profit mode numerous time... But like all of us do, I get greedy from time to time and want to go big or go home... I have not hit it big on there yet.
I am not perhaps widely known in EU yet, as fame has not reached me. However, I have done some trading part time as well... And if you must know, my identity in EU is Goldbaron Goldbaron357 Maximus. Goldbaron is a nickname I've always used since I am a real life gold prospector... Yes, I have caught the gold fever, and one of the main attractions to Entropia is the fact it is a real cash economy, and one that I can mine all year round in regardless of the weather, though it is nothing like actually being out there and finding real gold! My gold prospecting blog if it interests you is located at http://goldbaron.blogspot.com/.
I plan to post anywhere from two to four times a week, depending on what material I have to bring to your attention. I don't want to go for quantity, I just want to have quality. Information that you can depend on.
As for hunting on Planet Calypso, my advice is, DONT. I have several thousand peds worth of crafting and mining globals and hofs, but despite hitting levels in the 20's for weaponry from hunting, I have but one global hunting and it was only a 50 some pedder. As compared to a level XX gazzurdite on TI North a couple years ago, which gave me 904 peds in TT value. That is my biggest hit to date. Don't let my small numbers fool you though. I would rather hit constant profits than to hit a few big finds in between big losses.
Over the next couple days expect new posts from me, in an effort to get this blog underway, and attract some readers.
I have done a lot, I have tried a lot. I have experimented with theories. I have studied statistics. I have successfully been in profit mode numerous time... But like all of us do, I get greedy from time to time and want to go big or go home... I have not hit it big on there yet.
I am not perhaps widely known in EU yet, as fame has not reached me. However, I have done some trading part time as well... And if you must know, my identity in EU is Goldbaron Goldbaron357 Maximus. Goldbaron is a nickname I've always used since I am a real life gold prospector... Yes, I have caught the gold fever, and one of the main attractions to Entropia is the fact it is a real cash economy, and one that I can mine all year round in regardless of the weather, though it is nothing like actually being out there and finding real gold! My gold prospecting blog if it interests you is located at http://goldbaron.blogspot.com/.
I plan to post anywhere from two to four times a week, depending on what material I have to bring to your attention. I don't want to go for quantity, I just want to have quality. Information that you can depend on.
As for hunting on Planet Calypso, my advice is, DONT. I have several thousand peds worth of crafting and mining globals and hofs, but despite hitting levels in the 20's for weaponry from hunting, I have but one global hunting and it was only a 50 some pedder. As compared to a level XX gazzurdite on TI North a couple years ago, which gave me 904 peds in TT value. That is my biggest hit to date. Don't let my small numbers fool you though. I would rather hit constant profits than to hit a few big finds in between big losses.
Over the next couple days expect new posts from me, in an effort to get this blog underway, and attract some readers.
Subscribe to:
Posts (Atom)