Making money on the Grand Exchange
Time for new trading strategies on the Grand Exchange. I have been buying shrimp to make money on the grand exchange for the past few weeks, but today the numbers have changed and I am moving on. The spread has thinned too much for my liking, and I don’t want to get stuck with 100,000 shrimp that I cannot sell!
So we will change our strategy a little bit. Again, I like to look for items with a high volume, so I can buy and sell for a sure bet profit. My target item now is flax. This is one of the highest volume items traded in the past 30 days on Runescape. In addition, it is on a slight upwards trend, so chances are I can put in a low buy order, and maybe squeeze out an additional gp or two on the sale.
Put in your buy orders at 86 GP, and sell at 92 GP. Not the kind of spread I like, as a percentage it is lower than my usual spread, but still a solid money maker at 6 gp per item. Buy in bunches of 1000 if you can to make it worth while trading.
If you cannot trade flax, I am also looking at bones, put in your buy orders at 65, sell at 69-70. Again, thinner margin than I like, but a good money maker nonetheless.
I will be keeping an eye on the shrimp market in the coming days, and will start trading shrimp again should the numbers be in our favor, but right now is not a good time to be a shrimp trader. If your gp is low, and you need to trade the shrimp to make money, lower volumes should still do ok, but I would be hesitant to buy large quantities of shrimp right now.
Check back in, I will continue updating my trading strategies on the Grand Exchange so we can keep making money on Runescape!
