A few weeks back I decided to try out a bit of trading - again. And this time on an alt. When I begun to play back in 2003, one of my aims was to become a trader. At that time I was doing more flying than actually trading. Going from system to system to gather the cheapest items and sell them at some remote place for a higher price.
This time around I'm doing the opposite (like many other traders - unfortunately!). I'm docked at the popular "four four" station Jita and not moving an inch! Perhaps not much fun if you don't have a main to do some more interesting things with, but never the less, it is something special about making money (ISK) with basically no effort at all :)
The "trick" is in a way to buy high and sell low. It sounds of course not very profitable, but what it mean is that you should offer to buy some item just 0.01 ISK more than everyone else. So of someone sells that particular item, you will be the one who buys it. Then you resell the item at 0.01 ISK cheaper than anyone else, so whenever someone buys that item, they will buy if from you. The difference is your profit.
As an example, you want to put a buy order at 554,022.02 ISK and sell at 614,999.99 ISK for the item in the picture below. If you succeed you'll get 60977.97 ISK minus taxes (that vary depending on trained skills).
Since I'm far from alone doing this there is a need to update your orders regularly. On many items you end up doing "market PvP" with traders beating each others orders by 0.01 ISK every five minute.
As you understand it is not about making maximum profit per sale, but rather to buy and sell ALL of the items for a smaller profit per sale. You want to keep your ISK moving all the time and not sit and wait for to long for a sale to happen. This makes also the more traded items more interesting than the items that are traded more seldom. Even if the margin/trade is less.
I have not monitored the success though, but it seems to be working really good so far.
I must say that the market system in EVE is really great! ;)