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Thread: [GUIDE] How to become a Successful Trader

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    [GUIDE] How to become a Successful Trader

    Many people have asked me: "O Mr. Carrot, how do you have so many successful trades in this dying neopets market?" Well, now I can just link them to this guide to respond!

    In this guide, I will explain all of the different factors that go into being a successful neopets traders. Different traders have different techniques; I will be posting what has helped me be successful.



    First, a little about myself. I started cheating neopets when I was 15 years old. I had no clue about anything illegit; I was the classic illegit noob. Pretty soon, I realized that I wanted to make money off of this stupid site. After being frozen unfairly multiple times, I decided it was time to get something back for the countless hours that I had spent on neopets.

    Two years later, (and a couple thousand dollars richer,) I have learned so much about cheating neopets, selling goods, and making money. If you want to do the same, keep reading!



    Appearance

    1. On your selling thread, make sure you use correct grammar and look professional. No one wants to buy from a seller that tlks lyk dis! It makes the seller seem immature and irresponsible, and potential buyers don't want people like that handling their goods.

    2. Make your selling thread look nice. Center it, use bold, italics, and underlines. Include an introduction to make yourself seem friendly and easy to approach. Spoilers are always nice because they clean up threads. For more on this topic, check out my posting guide.

    3. Include images. Make your thread appealing to the eye. Make the potential buyers want to read your thread. Images of avatars/trophies when selling services look nice, as well as images of various shields when selling accounts.




    Reasonable Pricing

    1. Slash your prices. Expect to get terrible offers, if any offers at all. The market for neopets is terrible, so you need to take what you can get. Nothing is selling for full value anymore.

    2. Don't make your prices too low. This makes you look sketchy, and it annoys other big time sellers. Most neopets goods are selling at the same price for everyone, so there's no need to sell neopoints, for example, at $1/m when everyone else is selling for $2.

    3. List ABs. Post the price that you would automatically accept for something, and then expect offers much lower than that. Before you put something up for sale, know the lowest that you would go.




    Patience

    1. Be patient. Wait for decent offers, they will come eventually.

    2. Don't be stubborn. If you are selling something for $5, and someone offers $4.75, why do you care so much about that quarter? Take the offer.

    3. If something you are selling is getting no offers, slash the price.




    Itrader (AKA Trade Rep)

    1. Itrader is one of the most important tools of the forum. It allows people to see how many sales/buys you have on the forum. Learn how to use the itrader system.

    2. Make some smaller sales before attempting to sell items of higher value. No one trusts a person selling an MSPP with 0 itrader. Before selling expensive items, try to get 5-10 unique trades.

    3. DO NOT ABUSE THE ITRADER SYSTEM. Only submit trades that actually go through. Anyone caught abusing the system will be infracted or banned.




    Customer Service

    1. Be kind to your potential buyers. Don't be snappy or sarcastic because they back out of a trade, you never know when they will come back.

    2. Respond to all PMs right away. Potential buyers love getting quick responses, and it makes the trades go very smoothly.

    3. Send friend requests to frequent buyers to show them that you appreciate their business.




    Auctioning

    1. Auctioning is a useful method of selling. Use this method when you have an interesting/nice item that you know you would sell for cheap.

    2. Have an end time. If you say that you are auctioning an account and then don't say when it ends, it's just like all other selling threads. Adding an end time adds the competition aspect to selling.

    3. Have a price in mind, and choose the starting bid and increments logically. Choose what you think will get the end price close to or over your price.




    Advertising

    1. Include the link to your selling thread in your signature, and be active on the forum. People will be curious to see what you are selling when they see you post, so the more active you are, the more deals you will make.

    2. Check the Neopets Trade section when you come online. See if anyone is buying what you are selling, and link them to your thread.

    3. Bump your thread whenever you can. Bumping it will make it appear in new posts, and that may bring in potential buyers.




    [COLOR=lightpink]Helpful Posts






    END

    I hope you enjoyed my guide! If you have any questions about anything, feel free to post, PM me, VM me, or IM me. Comments and constructive criticism are appreciated, as well as the techniques of other successful traders. Thanks for reading!







    Last edited by Carrot; 02-10-2012 at 11:52 PM.

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    Nice guide (: + reppppp

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    Pretty good guide.
    But one thing that I don't see on there that I value above all, is honesty.

    You have to be 100% honest with people. Don't beat around the bush.
    If you tell somebody you will buy something for $1 each because that's all it's worth, don't turn around and sell for $3 each because it's now worth that.

    Be upfront about how you got things, how long they are secured, etc etc.

    I look at trading at a casual environment. I have made more friends trading than anything else. I find if you are honest with people, they will come back and maybe even refer you to other people.

    Sure the business end is all well and good, nice threads, advertising, etc; but I think that is all secondary (;

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    Evelsaint (02-10-2012),Ronith (02-10-2012)

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    Quote Originally Posted by I_royalty_I View Post
    Pretty good guide.
    But one thing that I don't see on there that I value above all, is honesty.

    You have to be 100% honest with people. Don't beat around the bush.
    If you tell somebody you will buy something for $1 each because that's all it's worth, don't turn around and sell for $3 each because it's now worth that.

    Be upfront about how you got things, how long they are secured, etc etc.

    I look at trading at a casual environment. I have made more friends trading than anything else. I find if you are honest with people, they will come back and maybe even refer you to other people.

    Sure the business end is all well and good, nice threads, advertising, etc; but I think that is all secondary (;
    Also, don't try to mislead buyers with with info. I got fvuked over once when someone put misleading information. They did the trade by the books but used loopholes.

    So honesty and integrity is a big plus.

    Ex. Carrot sold me some shells that didn't work, an honest mistake and he replaced them.

    That's good customer service.

    I buy from jjudd all the time and he delivers on time and does it without a problem, people tend to go back to regular buyers for stable purchases even if it means paying a little bit more.

    This is called building a customer base, good service is needed.

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    Very good guide, + rep.
    Maybe add the use of middleman, go first if you have a lower rank...

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    These are all good suggestions I'll add a section with quotes in the first post and put in the helpful posts.

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    I love how you share your hard earned knowledge of your expertise that would benefit the community. *two thumbs up*
    Keep up the excellent work +rep

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    Quote Originally Posted by holyzac View Post
    I love how you share your hard earned knowledge of your expertise that would benefit the community. *two thumbs up*
    Keep up the excellent work +rep
    Thank you very much for the rep Glad you liked it!

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    Nice guide, and patients is really needed these days. xD

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    Quote Originally Posted by zxzero View Post
    Nice guide, and patients is really needed these days. xD
    I'm glad you liked it Anything that you would like to see added to this?

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