Playing the Monetary Market :: 101

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Playing the Monetary Market :: 101

Post by Joelsem on Wed Apr 29, 2009 3:50 am

I'd absolutely love to start playing the Monetary Market to be able to earn some extra money, maybe get a house a little earlier than I'm supposed to, be able to train every day and, well, have more than 0 CAN in my account every time I log in.

I'm more than willing to throw 5 dollars in to this game, so grabbing 5 gold to start off this trading is what I plan to do, but I just wanted to make a post to hear some suggestions about how not to lose my investment. Or even just someone to tell me how to do it period. I read the FAQ, but I didn't quite grasp what it was saying about playing the market, for the record.

Suggestions was bolded for people who just tl;dr.
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Re: Playing the Monetary Market :: 101

Post by Alias Vision on Wed Apr 29, 2009 6:55 am

You could invest real money to get a leg up but you can also grow your money relatively safely.

The idea is to put competitive offers on the market changing your gold into local currency and once that transaction has happened to then offer that currency for gold. Most exchanges will give you a return between 2-5%. Better returns are quite possible in the more volatile currencies which tend to trade less volume (i.e. Belgium).

Now for a walkthrough:
If you were to offer 1 gold for $31.97 CAD that would give you... $31.97 CAD.
Then offer that $31.97 CAD for 0.032 gold (current going rate), the exchange would give you 1.02 gold.

A modest but guaranteed 0.02 gold profit.

The markets fluctuate and sometimes there are instant profit scenarios or cases where the return on the investment is much greater but this should give you an idea of where to start.

Top tip! Make sure you are putting the right offers on the market. You don't want to mistakenly post 1 gold for $0.032 CAD for instance. Wink
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Re: Playing the Monetary Market :: 101

Post by chucky norris on Wed Apr 29, 2009 8:32 pm

The best tip i could give you to check the currency and how they are going up and down. You need to be very active to make better uses of your capital.

In due time you will learn to gage how much CAD is gold really worth investing, for instance I know that i should buy gold under 32 CAD and when it go back to 33.5 or 34 i can then sell it and make a reasonable profit out of it.
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Re: Playing the Monetary Market :: 101

Post by Dade Pendwyn on Wed Apr 29, 2009 9:42 pm

Sell gold to currency, sell currency to gold. You can't buy 5 gold, only 20, 40 or 80.
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Re: Playing the Monetary Market :: 101

Post by Joelsem on Thu Apr 30, 2009 3:07 am

@ AliasVision

Thanks for the thorough run through, I guess I'll just have to keep my eye on the market and make a few mistakes before I'll really have it down. Doesn't seem to be too risky as long as I don't mistake CAD for Gold and lose all my money at once. Seems like the worst thing that's going to happen is I'm going to lose .02 gold.

@ ChuckyNorris

Patience is more than likely the best way to make money with the monetary market, but I'm simply looking for another thing to involve myself in within eRepublik. Seems like the Market would be a great start.

@ Dade Pendwyn

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Re: Playing the Monetary Market :: 101

Post by Dade Pendwyn on Thu Apr 30, 2009 12:27 pm

Oh wow. They must have put that in just recently. Good to know our admins are working on citizenship instead of pointless gimicks like the amount of gold you can buy...
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Re: Playing the Monetary Market :: 101

Post by Ali Mentary on Thu Apr 30, 2009 3:10 pm

Just one tip.

If you have an Org as well as a personal account, do not spend real money buying gold on both those accounts. Someone I know got PermaBanned for doing that.
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Re: Playing the Monetary Market :: 101

Post by Books on Thu Apr 30, 2009 3:22 pm

Why would that be a permaban?
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Re: Playing the Monetary Market :: 101

Post by Ali Mentary on Thu Apr 30, 2009 3:56 pm

Books wrote:Why would that be a permaban?

'cos it's against the rules to generate eGold by using real money more than once a week.
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Re: Playing the Monetary Market :: 101

Post by Corrigan on Fri May 08, 2009 3:51 am

I'm sure if you sit down you can find ways to play the monetary market without having to fork over your hard earned dollars in the Real world but I believe until you figure that out your best bet is to pay up
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Re: Playing the Monetary Market :: 101

Post by Thordan on Sat May 09, 2009 2:56 pm

FFS permaban for SUPPORTING the game? Everytime I think the admins are the most idiotic they can get, they go and out do themselves.
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Re: Playing the Monetary Market :: 101

Post by Corona on Tue May 12, 2009 8:36 pm

Say. I would be willing to sell my gold for money. =D
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