As a trader you continually ask yourself, what are the best items that I need to be working with?
This is a hard question to answer as there are many ways of using statistics to derive an answer. A common method is to use weights on criteria to come up with an index. The better this number, the better the item performs.
My trading partner James and I put weight on an items total profit, profit per transaction, profit per item, volume, opportunity cost. We have 35,852 transactions dating back to October of 2010, but I wanted a current snapshot of my trading performance so we limited the interval to 3 months of history.
$sql = ('SELECT SUM(wallet.quantity) as totalQuantity, invTypes.volume, wallet.typeName, wallet.typeID, (SUM(wallet.profit) / 100000000) + (AVG(wallet.profit) / 100000000) + ((SUM(wallet.profit) / SUM(wallet.quantity)) / 40000000) + ((SUM(wallet.profit) / (SUM(wallet.quantity) * invTypes.volume)) / 1000000) - (((SUM(wallet.price) - SUM(wallet.profit)) / SUM(wallet.quantity)) / 500000000) as ticketWeight FROM wallet JOIN invTypes ON (wallet.typeID = invTypes.typeID) WHERE wallet.transactionDateTime > DATE_SUB(CURDATE(), INTERVAL 120 DAY) AND transactionType = "sell" GROUP BY wallet.typeID ORDER BY ticketWeight DESC');
We’re open to critiques of our method, as this is our first attempt to come up with more intelligence beyond ‘what items have the most profit on average per time period’.
K162 2012 Q1 Trade Index 50
Note that PLEX is very over-weighted due to its extremely small size (0.01 m3). We are not currently eliminating outliers.