Amarr Station Trader #4: An update, and a silly mistake

It has been a little bit under a month since I began doing business in Amarr, and it has been almost three weeks since the last update I gave my readers. I apologize to everybody who has been keeping up with this project of mine for the silence; these past few weeks have been busy while I have been on vacation as well as beginning another semester of college. Thus, not only have my blog updates suffered, but my station trading as well - on average, I have been creating new orders and updating existing ones every two or three days. Previously, my wealth was equivalent to 27,623,066 ISK; now, my wealth has grown to 90,359,827 ISK, which is an increase of 227.12%.

For the most part, I have stuck to margin trading commonly-used skillbooks, which have remained fairly profitable throughout the entirety of this project. I have also made small investments into the salvage market (both normal and sleeper salvage) as well as the planetary materials market. So far, I have noticed that the salvage market is very active: lots of people are selling salvage to my buy orders in small amounts, and lots of people are buying salvage from my sell orders in bulk (although the bulk sell orders take longer to fulfill than the buy orders, the profits remain the same nonetheless.) My journey into the planetary materials market is much more recent, and so far, it seems that this particular market is not nearly as quick-moving as the salvage and skillbook market is, but hopefully my sell orders will be fulfilled before long.

About two weeks ago, I discovered a critical mistake I have been making that has been holding back the entirety of my business - almost to the point where I am surprised that I have been making any money at all. The first time I set up a sell order, I set the order duration to the maximum amount of time - three months - and enabled the checkbox that remembers my settings. As I learned a few weeks ago, those settings do not transfer to new buy orders - only to sell orders. Therefore, during the entirety of my business, my buy orders have been set to the default duration of one day. As one can imagine, most of the time, they expire, and considering I have been consistently creating and updating market orders once every two or three days, that means I have spent one or two days of time without a buy order, much less an updated one. Now that I have discovered and rectified this mistake, I expect that my profits will gain a considerable amount of momentum.

As of right now, I have finished training both the Trade and Retail skills to 5. I do not yet have the disposable income to set up a buy order for the Wholesale skill, much less purchase one from available sell orders. Therefore, the biggest limiting factor that I face at the moment is the maximum number of open orders that I have at my disposal - as we speak, I have a number of items that I could place on sell orders, but am unable to due to the fact that I have reached my maximum number of open orders. Within the next few days, I anticipate collecting enough money in my wallet to outright purchase a Wholesale skillbook and increase the number of maximum open orders at my disposal. Although this purchase will cut considerably into my total wealth, I also anticipate that I will be able to quickly regain the money that I have spent, as the ability to diversify the items that I invest in will greatly increase the amount of money that flows through my wallet.

Current Wealth: 90,359,827 ISK

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