As we come to the end of this venture I find my self in last place. My money is out with little chance of recovery. What I think I have learned most from this is how challenging a new market can be. I have worked with eBay and paper magic for a long time, and been rather successful with it. But getting into MTGO - I was not prepared for what followed. I understood things moved faster online than in paper, but seeing some of the massive spikes and plummets from the Pro Tour and banning's, I was very surprised. This feels much like I expect the stock market would feel, but you don’t have the auto sell options. Another surprising item to me was how quickly increases from the Pro Tour dissolved. In paper, when a card sees extensive play the price increases to a new level and hoovers around that for a few months. On MTGO, it only lasts the weekend or if you’re lucky into the first few days of the week.
If I were able to go into this with the knowledge I have now and a little more time to pursue this end I would do these things.
Mainly buy midweek, Mainly sell Sunday morning
I would better define the prices I would buy and sell at
This would include if a card went too low as well
I would spend more time following Standard, as the profit margins are the tightest and the prices see the most spikes
Work to keep an even mind in Wins and Losses
Focus on Mythics
I feel these items would greatly assist in turning a profit instead of a loss. I also feel that if I played standard consistantly, I would have a much better chance at hitting the key cards in newer sets. As in paper magic, theorizing on playable cards is a very good way to lose money. Until you have played with the card, your understanding of it is very limited.
Anyway, this week I have sold off most of my failed specs other than a few standard items I hope to see one last jump before the end of this tournament. I invested all of the money into Sylvan Advocates. I did this as at ~5 tix each they are at the lowest they have been for a while and they are still one of the most played cards in standard. This week they lost .77 tix and they are on the uptick. I do not feel they have much to fall, but potentially have a lot to gain.
That’s it for this week,