Today's Guest Post is by Bozzor, the Gold Millionaire.
Information is one of the most important factors in gold making.It is obviously that an informed player
reacts faster to any change in markets, gaining more gold or selling before a price crash.
Most players do not bother to read patch notes in depth or read known blogs about WoW economy on a daily or even weekly basis.They are simply caught ''with pants down'' when major changes happend in game.
Ask yourself a question : ''How much will hurt my play time 10-15 min / day of reading about WoW?''
I always read a number of sites and blogs BEFORE logging into WoW.I admit, i spend more than 15 min, but that is because i like to read about WoW economy.However, even 10-15 min its more than nothing. Try to do this, its not that bad :D
While informing about WoW economy its good, its not enough.This is only to have a general view about changes that will take place in game.But those changes are rare, ocuring only on major patches.After the changes take place, there is only one way to be prepared for speculations that take place after.
Add on your friends list the major sellers of ores, leather, herb and cloth.Watching their activity, when they log in, how much they farm before posting their stuff for sale, how much volume they sell, can help a player to cope with spikes in prices.Take into consideration that a crafted item that uses the above materials can be sold at higher than normal price if the farmers are busy gathering materials and there is 1-2 hours before they start selling, lowering the materials prices, hence, giving another crafters the posibility to make cheap items.
Also, add on your list the main competitors for craftable items on the markets you are active.There are windows of opportunity, when farmers are offline or gathering materials and the competition is offline or doing dungeons / pvp.
Think about that most of the farmers have 2 gathering professions, and sometimes, they move from ores to herbs, or from leather to ores. Being able to see what, when and how much they gather its an information that no serious trader can pass away.
So, to sum up, read about WoW economy and know your server farmers and competition.The first will have you prepared for any major changes, and second will give you the opportunity to gain gold between those major changes.
Stockpiling, as the main resource to make gold on long term, is heavily based on information and knowledge about your server economy, who is driven by major farmers and traders.
Speculation, along market manipulation, is a short time gold making opportunity that is also based on information.
Information is Gold is as much true as Time is Money.Even the smallest piece of information can make the difference between a succesful trader and a failed one.
Bozzor, Gold Multimillionaire.
If you like this article, please visit www.auctionhousegoldstrategies.wordpress.com for more auction house strategies by the author.
There’s a lot of information to sort through when bidding, buying, or posting items on the auction house. In fact it’s too much for any one ...
Hey Markco, Just wanted to tell you another gold tip. With patch 3.1 the JC pattern Citrine Ring Of Rapid Healing no longer requires 2 elem...
This post was submitted by Alisha as her application to write here at JMTC. If you enjoyed Alisha's post then please give her a thumbs u...
Engineers have always been on the short end of the stick when it comes to gold making. During the burning crusade and wrath expansions...
PCT means percentage or percentage market value for an item. After you have scanned with auctioneer enough you will have an accurate PCT for...
Learn world of warcraft bidding practices in this article that will help you win bids more frequently. Here are the four categories you w...
Of all my posts at Just My Two Copper , I think that this farming spot is going to excite my hunter readers the most. In this article I am ...
Don't forget to pick up the best farming trinket in the game. 1. Fire Revenants of Stormpeaks Eternal fires remain the most expens...
Every profession can make a profit. This should have been written into your mantra from day one of your adventures in Azeroth. We have t...
One of the keys to success (wow, imagine that, it is what I titled this entry) is the idea of self motivation. Everyone has a differen...