Playing the Monetary Market :: 101
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Ali Mentary
Dade Pendwyn
chucky norris
Alias Vision
Joelsem
9 posters
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Playing the Monetary Market :: 101
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.
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.
Joelsem- Relatively Unknown
- Posts : 71
Join date : 2009-04-28
Re: Playing the Monetary Market :: 101
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.
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.
Alias Vision- Frequent Forumer
- Posts : 187
Join date : 2008-12-28
Re: Playing the Monetary Market :: 101
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.
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.
chucky norris- Forum Elder
- Posts : 255
Join date : 2009-02-14
Age : 37
Location : Montréal
Re: Playing the Monetary Market :: 101
Sell gold to currency, sell currency to gold. You can't buy 5 gold, only 20, 40 or 80.
Dade Pendwyn- Moderator
- Posts : 703
Join date : 2009-01-31
Age : 36
Re: Playing the Monetary Market :: 101
@ 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
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
Joelsem- Relatively Unknown
- Posts : 71
Join date : 2009-04-28
Re: Playing the Monetary Market :: 101
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...
Dade Pendwyn- Moderator
- Posts : 703
Join date : 2009-01-31
Age : 36
Re: Playing the Monetary Market :: 101
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.
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.
Ali Mentary- Lurker
- Posts : 46
Join date : 2009-04-08
Re: Playing the Monetary Market :: 101
Why would that be a permaban?
Books- Forum Elder
- Posts : 234
Join date : 2009-03-24
Re: Playing the Monetary Market :: 101
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.
Ali Mentary- Lurker
- Posts : 46
Join date : 2009-04-08
Re: Playing the Monetary Market :: 101
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
Corrigan- Relatively Unknown
- Posts : 71
Join date : 2009-05-02
Age : 35
Location : Ontario
Re: Playing the Monetary Market :: 101
FFS permaban for SUPPORTING the game? Everytime I think the admins are the most idiotic they can get, they go and out do themselves.
Thordan- Moderator
- Posts : 474
Join date : 2009-02-12
Age : 36
Location : Lloydminster, Alberta
Re: Playing the Monetary Market :: 101
Say. I would be willing to sell my gold for money. =D
Corona- Forum User
- Posts : 127
Join date : 2009-04-07
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