April 28, 2013

1 Billion in Networth: The Challenges of a Newbie

After 5 months of playing time, I finally reached 1 billion in net worth. I have only been keeping track of my assets and cash for the past several months but with a total of 5 months training time under my belt I surpassed 1 billion in net worth about the first of April.

Challenges of a New Trader
If your a new player and you own anywhere from 0 to 1 billion isk you find you don't have a secure way of transporting A:Large objects or B: Large volumes of expensive items. Each time I undock I take a risk. The expensive trading options can be very risky business.

The simple fact of the matter is I don't have a freighter. If I had a freighter I could "safely transport" expensive items across high sec or get into the larger ship market. Now I know what your going to say use Red Frog Freight that is all fun and games but there current rates are 1 million a contract and 500,000 isk a jump after that. With how tight trade margins are these days no way am I going to make any money using this method. Why not mission to make isk? Mission grinding is boring and I started this game to play the market anyway. Why not get some PLEX and sell those to buy your shine freighter? I can't say this hasn't crossed my mind a time or two. I don't want to buy PLEX I'll take the long road. With that in mind I have nothing to complain about really those are my options. So what does it all mean? See my new investment strategy below.

Reinvestment: My evolving investment strategy for the summer
As stated above I can't really get into the ship market until I have a freighter. It takes to long to haul the minerals to production and haul the ships back to market. I don't have that much time to play. So with that in mind I am liquidating all my module and asset production.This past week I stopped my one week production cycle and am shifting all my remaining production stock on to the market.

So for the summer or at least for the next several months I am moving into implant trading. Why implant trading you say? Implants are easy to transport in large volumes and for the time being they have decent returns something like 10% when you start hub to hub trading which is what I am usually doing. The returns on the production I was making weighed in about 25 to 30% but I was running into cargo space problems as I outlined above.

Here is hoping for the summer.


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