bupdaddy
2008-04-02 19:15:17
Please leave comments. :)
Also, it's just a first draft, so be nice.
And, this is great for old merchanters who do not know what to do now that Jagex shot merchanting….
Sure, Jagex probably should not have put up the trading limit. It destroyed merchanting as most people new it. Instituting the trade limit which not only allows the average noob to know the exact price of any item he wishes; it does not allow one to run a successful business. You can no longer give out wages, or buy ore lower than the market price. Even if you are an accomplished player with hundreds of quest points, odds are your employees aren’t as accomplished as you. You also are probably unable to make the money you were making before.
However, whenever one door closes, one door opens. Jagex has built in this door near the beginning of 2008. It is in the form of the GE. It hasn’t been around long enough for people to realize its true genius. Remember how all those guides before the trade update told you that Runescape was like an economy? Well, they were right, and still are. What Jagex did is they added a Wall-street. And, like Wall-street, we can now trade stocks. We, like traders at Wall-street, can buy various items on the hope that their price will rise.
Let me explain further. What this means is that if you see an item’s price has dropped below its normal price. You buy it in bulk, and then sell it when you see that the price has gone way up.
However, you must be reasonable. For example, lets say you just bought 1,000 gold ore for 450 gold pieces each. You know that gold only rarely hits 550 gold pieces each, yet you also know it frequently hits prices in the 500-520 gold pieces each. So if you want to make a quick, easy profit, aim to sell the ore if you see it hit in the 520 gold pieces range. This can also be applied to other items, such as coal, yews, runes, etc…
A principle from old merchanting can still be applied. “Know the item your dealing with.” You need to check daily the price of the item you want to buy by looking in the Grand Exchange daily. After you have seen the price hit its apparent high and low a couple of times, wait for it to hit the low. Then buy it in large quantities, and sell it when you see it hit the high.
Also, if you see the price of an item rise after you bought it, don’t feel bad. You still made money, and if you feel down about not making the max amount of money, you are less likely to make the right investment choices later. Just try to ignore it, and refocus on another item.
Another tip is to try and build up a large inventory of items from a variety of markets. Try to keep about 1,000 of at least one item from every market. That means 1,000 adamant longswords, 1,000 coal, 1,000 yews, etc. That way, when you see the price of yews soar, sell them all, and wait for them to drop again.
Never buy during peak trading hours, or during holidays. Prices tend to rise then, and you want to make the most money, right?
Also, it's just a first draft, so be nice.
And, this is great for old merchanters who do not know what to do now that Jagex shot merchanting….
Why Merchanting Isn’t Dead
A theoretical theory on the new merchanting
A theoretical theory on the new merchanting
Sure, Jagex probably should not have put up the trading limit. It destroyed merchanting as most people new it. Instituting the trade limit which not only allows the average noob to know the exact price of any item he wishes; it does not allow one to run a successful business. You can no longer give out wages, or buy ore lower than the market price. Even if you are an accomplished player with hundreds of quest points, odds are your employees aren’t as accomplished as you. You also are probably unable to make the money you were making before.
However, whenever one door closes, one door opens. Jagex has built in this door near the beginning of 2008. It is in the form of the GE. It hasn’t been around long enough for people to realize its true genius. Remember how all those guides before the trade update told you that Runescape was like an economy? Well, they were right, and still are. What Jagex did is they added a Wall-street. And, like Wall-street, we can now trade stocks. We, like traders at Wall-street, can buy various items on the hope that their price will rise.
Let me explain further. What this means is that if you see an item’s price has dropped below its normal price. You buy it in bulk, and then sell it when you see that the price has gone way up.
However, you must be reasonable. For example, lets say you just bought 1,000 gold ore for 450 gold pieces each. You know that gold only rarely hits 550 gold pieces each, yet you also know it frequently hits prices in the 500-520 gold pieces each. So if you want to make a quick, easy profit, aim to sell the ore if you see it hit in the 520 gold pieces range. This can also be applied to other items, such as coal, yews, runes, etc…
A principle from old merchanting can still be applied. “Know the item your dealing with.” You need to check daily the price of the item you want to buy by looking in the Grand Exchange daily. After you have seen the price hit its apparent high and low a couple of times, wait for it to hit the low. Then buy it in large quantities, and sell it when you see it hit the high.
Also, if you see the price of an item rise after you bought it, don’t feel bad. You still made money, and if you feel down about not making the max amount of money, you are less likely to make the right investment choices later. Just try to ignore it, and refocus on another item.
Another tip is to try and build up a large inventory of items from a variety of markets. Try to keep about 1,000 of at least one item from every market. That means 1,000 adamant longswords, 1,000 coal, 1,000 yews, etc. That way, when you see the price of yews soar, sell them all, and wait for them to drop again.
Never buy during peak trading hours, or during holidays. Prices tend to rise then, and you want to make the most money, right?