New Trader Advice

[DenverZeppo]

Risk management.

Rich

Ultimately, this is how I approach Bartertown.

That might make me a little jaded, but that's how it is. Tomorrow morning I'm sending out $280 or so in NiB product, and I'm doing it because my trading partner has stuff I want and a rating over 300. There's no way I make this trade without having looked at his references, reading a random selection, scrolling through them.

That might be the most important piece of advice for new traders; manage your risks, and don't take a risk where if it backfires you are emotionally or financially devastated. In my mind the single most important thing you can do to manage your risks early on is NEVER send a PayPal payment marked as a "gift", as doing so gives you no recourse if the other party disappears.

[Noble Korhedron]

To be as safe as possible, dont trade with low/zero ref members. Deal with members with a high rating, proven record. Dont fall for "buying is different, pay me first".

When dealing with a member with zero/very low refs, you are taking a much larger risk, then a member with 100+. It might turn out OK, but then again.....

Dont beleive me? Check out the Dead Beat & Bad Trader sections. Most are members with low/no refs.

I would like to take offence to that - I remember my days as a newbie '(0)' trader - but I do agree that sadly, I have found it to be true. This can also be true with low rating people on the site, e.g. my BTR post regarding Tech9/Maximillio Martinez/Emile something-or-other..... If they should happen to admit to having bought online before, ask for links to their references on say, eBay. This can be a big help in deciding whether or not to risk a trade. Or you could do the payment like in the novel, 'The Day of the Jackal', half now, half on completion.

[starslayer]

Not all new traders are bad. I never said that. But choosing someone with a proven record who has been here awhile is a bit less risky, dont you think?

[Noble Korhedron]

Errm, my bad. I'm tired - it's late, i.e. 00:08 G.M.T - so I probably just misinterpreted your post. My apologies.