From Rags To Riches #1 - The Beginning

Two and a half years ago, I started the Amarr Station Trader project. Although my blog posts quickly ceased, the project itself did not - my previous update last November totaled my wealth at 8B, which has since grown to around 10-11B through very passive, safe, long-term investments. Now that I am beginning to get back into Eve, I've been itching to start a new, even more challenging project.

The inherent challenge of the Amarr Station Trader wasn't so much becoming relatively wealthy, but rather how quickly I could become wealthy when starting from absolutely nothing. Within the first couple of days, my biggest limiting factor was the amount of capital in ISK that I had to work with; a few weeks later, the lack of open market order slots became the limiting reagent. However, after 1-2 months, there was no real day-to-day challenge to speak of - sometimes my trades resulted in a loss, most of the time they profited, and sometimes I made huge profits. Station trading soon became a simple task where I simply watched my wallet and assets grow in size.

With this new project, I want to spice things up a little bit. The concept remains roughly the same - create a brand new account for the purpose of station trading, and become rich when starting from absolutely nothing. The twist this time around is that we start with an Alpha clone, which is in stark contrast to the Amarr Station Trader project where we started with an Omega clone (as Eve was not free-to-play at the time.) Assuming that we are able to gather enough wealth to PLEX the account, we would convert the Omega, but only if we're able to reliably generate more than 1.5b a month (as of the time of this writing, a single PLEX is about 3M, and 500 PLEX are needed to convert an Alpha account to an Omega account for a month.)

Starting with an Alpha clone introduces a lot of unique challenges. We are severely limited by the maximum number of open market orders available, as Alpha clones can only have a maximum Trade skill of 3 (which equates to 17 maximum open market orders.) We will need to find a way to utilize 17 market orders to generate at least 1.5b-1.75b, taking inflation into account as well as necessary capital needed to continue trading once the account has been upgraded. This is no small feat.

And so we begin. The character's name is Rags 2 Riches, and I plan on doing the majority of my trading in Dodixie. To start out with, I will most likely begin flipping skillbooks in Dodixie similarly to how I started out with the Amarr Station Trader project, but once I get off the ground I plan on importing goods from Jita or Amarr so that I can use almost all of my available market orders to sell goods.

I will be posting again within the next few days to give everybody an update on my progress!

Comments

  1. well, alpha also pay higher taxes so your profit margin will drop

    ReplyDelete
  2. You're correct! As you know, Alpha clones can't reduce broker taxes using the Accounting and Broker Relations skills, as they're for Omega clones only. That means my margins are going to be particularly tight, and that I'm going to have to find markets that aren't very competitive, yet still result in profits - a challenge I'm looking forward to!

    ReplyDelete

Post a Comment