Trading Lige & sugestions

Entropia Universe Economy General Economy Discussion
1

Trading Life & sugestions

I already post this at EP forum, sorry for repeating the post, but some players only use one Forum

Last week I was low of money and I tried to do things in PE that wouldn’t increase my decay costs and increase my money. The only profession where is possible it’s the trading profession. So I start selling and buying things at PA and Twin. I deposit money to have a good starting capital so I had very much money and I thought that with capital I could negotiate the prices. I was wrong, people at PA don’t care if you buy a lot or little they just need money and there’s not much competition to make them low their prices. I only got good prices by persuasion or by some noob who was in need of instant money. Anyway I did some money. :laugh:

Later I tried the auction, at auction u buy items bidding or placing orders. Bidding at first looks promising because the some initial offers have good prices, but the problem r the future biddings. We have to check auction every hour to win the items. Sometimes I waked up a middle of the night to check the auction. Most of the players who put their offers don’t use the Buyout option, and if they used it the price it’s astronomical. Conclusion the auction it’s not good for a gross sales trader, because it’s expansive in money and time. I think it’s adequate for selling high-end items and real estate.

You may say why you don’t place an order?! I did, and did some money with it, but there was a problem, the orders r placed by price/unit with only two decimals, and that’s not good.

For example the TT price of Belkar ingot it’s 0,06 (exactly), if u want to buy it at:

110% the price should be 0,066

or

115% the price should be 0,069

But u can’t use this prices, the system only accepts 0,06 or 0,07 (equivalent to 117%). If u r buying large quantities this small differences in prices makes a great impact at rentability.

Final Conclusion

I think the auction needs a few improvements, some already have been suggested by others players. Here r mine:

  • Increase at least one decimal place in the price of the orders (Already suggested that in the MA support)

  • Create an additional auction, and specific gross sales auction. This kind of auction would have different rules and would work in a different way. The rules would be:

  1. The offers should have minimal quantity (10K for example)

  2. The initial offer should be the max price (seller also chooses an minimal price)

  3. the price starts lowering in a specific time automatically (seller can choose the time to the price lowering)

  4. If a buyer makes a bid (by the price at the moment) win the auction.

Let’s have an example:

I want to sell 10K Belkar. As I already said TT price unit it’s 0,06 as max price I made the offer with 200% so the initial price will be 0,120

I choose bids 0,01 every hour and a minimal price 0f 0,07

First hour price 0,120 no biding

2nd hour price 0,110 no biding

3rd hour price 0,100 one buyer bids and win the auction. Buy 10K Belkar at 0,1. So the winner it’s the first who bids not the last.

If after more 3 hours no one did an offer the price come to 0,07 (minimal price) the offer expires

These are my suggestions and I would like to have some feedback from the community.

Hope u understand this crazy ideas :hammer:

2

Yes the order system needs an extra decimal.

But your other idea is a little too complicated and not all that useful (imo). If you want to keep lowering your price, dont sell it in the auction.

I’d give some tips on trading but I don’t want to shoot myself in the foot :tongue2:

3

Well, my system isn’t too complicated at all, it’s only different! I understand some resistance to the diference becouse this system it’s really new, but there are some advantages:

  • Transactions are faster becouse we don’t have to wait the auction expiration. The items are selled at first bid.

  • The items can be bought with a good margin for resseling. This kind of auction works with huge quantities where the margins are little for the seller but the turnover are good. So everybody wins (seller and buyer)

As I said the actual auction it’s good for real estate or high-end items and it’s not adequate for a real trading system. In the real life there are only auctions for expensive items, like oil, diamonds, gold and so on.

The auction I’m proposing are already used in RL in some resseling markets (ex: Fish market)