WoW Economy Weekly Wrap-Up: Making Gold in 2018, Investment Fears & Spirit of Harmony Nerf

Wowhead Criado 06/1/2018 em 10:08 por Gumdrops

check out the previous articles right here on wowhead.comGumdrops/r/woweconomy subredditDiscord serverTradeSkillMasterincredible kick-start guide to gold-making was posted by /u/Jallfo/r/woweconomy subreddit/u/Jallfo's guide

At a fundamental level, there are four possible ways to earn gold in Warcraft:

Looting gold from creatures
Receiving gold as a reward (from quests, order hall missions or achievements)
Trading to NPCS (AKA Vendoring)
Trading with other players

Yes, it really is that simple. In order to increase the amount of gold you have on your character you will have to do one of the four things listed above. As you probably realized, there are many ways to accomplish the four tasks listed in the previous section. For the purposes of this guide we will define a “method” as some combination of the four ways of earning gold. Popular methods include:

Method #1 Farming
Method #2 Crafting (Professions)
Method #3 Trading
Method #4 Providing Services

The Goblin 10 Commandments

Thou shalt understand opportunity cost: Don’t spend time doing things that are inefficient. Even if they save you money. Sure you might be able to save 100g by flying somewhere and getting a material from a mob, but how much could you have made doing something more efficient?
Thou shalt not invest more than you’re willing to lose: Nothing can be more soul crushing than investing heavily into an item only to see that you made a bad investment. Start small and invest heavily later once you know your markets.
Thou shalt understand the meta: Every goblin, EVERY GOBLIN knows that the biggest ways to make money come during patches and major changes to the game. Always read patch notes and wow news websites to stay up-to-date on what is coming. Which brings us to….
Thou shalt know the value of your items: Pay attention to things like a weekly reset. Sure you might be able to make 5g per potion on a saturday but that might go up to 25g per potion on a Tuesday or Wednesday. Make smart decisions about when you buy and sell
Thou shalt diversify: This is self explanatory - try not to put all of your eggs in one basket.
Thou shalt set REALISTIC goals: Look, you’re not going to make 5 million gold on your first day. However, setting realistic goals will give you a sense of accomplishment and keep you in it for the long haul.
Thou shalt have a strategy: Setting your goals is the first step in defining how you want to approach gold making. Do you want to completely own a corner of the market or have your hand in many pies? Always operate with a strategy in mind or you will lose focus and become incredibly inefficient.
Thou shalt not sit idle: Too many of my guildmates sit in Dalaran and / or Orgrimmar simply doing nothing. With how many things there are to do in WOW these days there is just no reason to ever sit and do nothing. Even if all you are doing is sitting in a capital you could still be browsing the AH looking for deals.
Thou shalt treat others nicely: You would not believe how many times someone has told me “LOL Get f***** noob” when I put in an offer for an item only to have them list it for less than my initial offer later. Guess what? I don’t buy from that guy. Treat others nicely and I promise you that it will work out in your favor in the long run.
Thou shalt enjoy the process: Sure sometimes you might have to farm something that isn’t enjoyable, but that should not be the majority of your goblining experience. This is a game, have fun - don’t turn it into a job. If you’re not having fun anymore then just stop. It’s just not worth it.

check out the full guidehttps://docs.google.com/document/d/1IUHr2bvbFhqPsO3BAGdeAmat5EywVW_UYdzLw2BYHX8/edit#HazelNuttyGamesSangue de SargerasSarguerita PrimevaBregVidsHave you set any goals related to making gold in WoW for 2018? Are you starting for the first time? What is going to be your first gold-making activity? What are you expanding in to if you're a long-term goblin?posed by /u/dynodanz on being afraid to 'pull the trigger' on making investments

So I’m a fairly new goblin, and I have around 1 million gold liquid with about 1.5 million in auction house value. I want to invest in reset gems on my server, but I’m scared afraid that I might lose money. How do you overcome that fear of investment. I know right now, that masterful Argulite is just under 2K. I’ve sold them with success as high as 3.5 K. I’ve done the math and it would cost right around 120 K to buy out every single cut gems and uncut gems, But I’m afraid to pull the trigger. Is it just me or do you guys have fears like that?

it's all about managing risk as /u/Sandrockcstm explains

Ask yourself why you are afraid.

Maybe a part of you believes this is a bad investment. If so, logic your way through the problem. What are the potential pitfalls? What trends have you seen before in this market that may be making you reticent? Is this just a fear of the unknown or a nagging memory trying to tell you not to do this?

Try to put a percentage to it. What would you classify the rate of failure at? If you fail, will you lose everything you invest or just not make a profit? Write the numbers down. If you can't come up with a hard number, come up with a range.

What is the potential payoff? Write down the actual number based on your experiences. Weigh this against the potential cost and ask yourself if the potential loss is worth the potential payoff. See what your profit margin would be and determine whether or not that is an acceptable risk of loss for you.

At the end of the day you'll only be losing around 10% of your liquid income. That's not insignificant, but it's hardly catastrophic either. In the end it's your money and you have to decide what an acceptable risk is for you.

/u/shiniira agrees with putting things in to perspective

I have had the same problem. You have to look at it this way: Unless you invest in a market that will change dramatically within the next few weeks, it is pretty safe.

Because you will not lose everything that you have spent, this would only happen in the odd case of your invested items will become completely worthless. In any other case, even if the price drops by 50%, you will still get at least 50% of your money back. Sure this is a loss, but you cannot go blank by this. So the really only issue that could arise is , that you no longer have the liquid money to invest in an even better deal, so keep some of your cash and nothing can go wrong.

Even if everything goes wrong, you can still just start over again. I mean we all started out with a few thousands of gold and made them into millions, we can do it again and again if strange things happen.

TheGoldQueen also had a great blog post on managing your gold regarding investing and managing risksDividing your gold in to pre-defined categories helps manage risk and rewards

30-90% for your piggy bank character, for savings: Without putting some gold aside, it will get spent. Whether it is in excited investment, indulgent self-rewards, or simply on every day items that you think you need, but you could manage without. Set yourself a bank character, and send a regular, large percentage over to your piggy bank character to hold on to. Your savings, the amount of gold you hold in your piggy bank char will increase every time you log in.
10-50% working capital, investing in stock, or in yourself: Investment is when you spend some gold, 100% sure that you will make a profit from this. An example of investment is buying leather to craft a leather item for sale. This is only an investment when you have either strong experience, or you have spent time researching, so that you can be certain it will sell. Another example is buying a high-demand mount for sale at 50% of its normal selling price. You are certain that it will sell soon, and for a profit.
0-10% gambling or learning capital: Gambling is just like investment. It is when you spend some gold, but you are not sure whether it will make a profit. Put aside a certain small percentage of your gold spending for “learning”. For allowing yourself to make mistakes.
0-10% gold for toying with, or rewarding yourself: Reward spending is when you have worked hard at gold making, you’ve made 100g, or 1,000g, or 100,000g today. Rewards are items are what you buy for yourself. You need to reward yourself in order to sustain high productivity. Rewarding yourself helps keep your motivation high and everyone deserves a reward.

gamble

There is a difference between investing and gambling. The difference is you know the gold you spend will be returned to you. Buying low cost Exotic Leather, to craft Misthide Bracers for vendoring at a profit, this is an investment.

Buying one expensive item on the Black Market Auction House, after researching The Undermine Journal and TradeSkillMaster.com and discovering it may well sell for triple your price. This is a learning investment. You are spending gold to discover something. You’re gambling that you won’t get the gold back, but you’re willing to take the risk in order to “buy” learning for yourself.

Buying 100 White Tickbird Hatchlings at whatevever-is-currently-cheapest, because you saw a Twitch Streamer level one to 25, and earn a thousand gold. This is neither a learning opportunity, nor an investment. It’s a pure gamble.

Have you ever had to overcome a fear of investing? What has been the most important mistake you've learnt from as a gold-maker? How much are you usually prepared to set aside for risky investments?Espírito da HarmoniaHeart of Fear/r/woweconomy & TSM Discord serverReckles with WTBGoldEspírito da HarmoniaDankyKrystelMinério de Trílio BrancoMinério de Trílio NegroLótus DouradoMinério de Ferro Fantasma/r/woweconomy subredditDiscord serverstreaming live on Twitch@GumdropsEU

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