We took a short break from our article last week due to Thanksgiving. I hope everyone had the opportunity to spend time with family, recharge, and ready to take on what’s left of the year.
The impact of Ascension left a sizeable dent in our operations. Unfortunately we were left holding on to overpriced skill injectors, PLEX, and T2 modules. I patiently waited for the prices to march towards an upward trend, but I didn’t think we would get there any time soon. So we sold most of them at a loss so we could recover the ISK to work ourselves back to profitable margins.
This was a blow not just to the funds, but to egos as well. We were doing pretty well up to this point but all things in life ebb and flow like the markets. Moving forward, let’s take the lessons to heart and make an honest effort to make meaningful changes that will better the group.
What went wrong?
Considering the value of the funds we play with, we actually don’t have nearly the level of deep understanding of the greater market that would be necessary to identify and take advantage of fundamental game changes. Unfortunately, I don’t have the technical knowledge to delve into API information like my peers. We will have to tread more carefully when committing too much of our funds at any given time.
To correct this, we will adopt a more active and traditional trading style that will allow us to be more vigilant with our orders since we will only work with what we can realistically monitor during a play session.
It was also recommended to me by one of the more experienced traders to close out all buy orders when the play session is done. At first I thought this was extremely conservative but as I adopted this style, I see that the lack of action during offline times is countered by the more active management of orders when online. This will also prevent getting caught in a sudden price swing and leave us holding onto items that may be difficult to offload.
A more active trading style is a far departure from our previous “sit and wait” mid to long term strategy. However, that left us incredibly vulnerable to sudden price changes that could happen while logged off. Considering our pay out structure, this can be dangerous and could lead to a net loss week.
I will be able to better present information regarding this as we put more time in game, note observations, and articulate possible strategies.
Investment Group Update
Due to the nature of how most of the profit tracking tools work, I will not be able to present accurate information since I have moved to selling RMT items in Fortizars. Unfortunately, these tools cannot take into account the difference in the broker fees between Fortizars and NPC stations simultaneously. So as not to cause confusion, I will limit what information I present from these tools.
The change in our trading strategy actually leaves us with extra ISK to devote to other activities since we will be seeking out faster moving items. No longer will we have idle buy orders waiting for days to be matched.
We will take advantage of our access to relatively safe wormhole space and focus on T3 production and PI factory planets. These activities are passive and considering the effort involved, very time efficient in exchanging effort and ISK.
I am very excited about this new opportunity as it takes advantage of the engineering complexes conveniently positioned around Jita and our skill set in this specific branch of manufacturing that took several months to accomplish.
Now let’s see how we did this trade week.
Advanced planetary materials and high volume meta modules have led the way this week. I have been collaborating with some traders and thought it prudent to start engaging in the same items that they do due to their success. The advanced planetary materials were an excellent borrowed strategy.
I was very surprised with how quickly I was able to flip these. I only traded them for one day and they already made it to the top of the weekly profit report. Margins were incredibly stable throughout the day but these items were very particular in how they behaved depending on which dominant time zone I happen to be trading them. As I play these throughout the week I will make sure to recount my observations.
T3 destroyers continued to lose value throughout the week but seemed to have found a stable floor in the low to mid 30 million ISK range for the more popular Confessor and Svipul.
This is in line with the melted nanoribbons finally holding steady at the 1.5 to 1.6 million ISK range after losing much ground since Ascension.
Construction blocks have been dancing around the 11,000 to 12,000 ISK range but never quite got back to their previous 13,000 ISK range pre-Ascension.
Thanks for reading. Good luck and happy trading.