More Bang for my buck?

Ok..I feel really dumb for asking this..but I guess if you dont ask, you dont know, right? Anyhoo..when you go to sell lindens at sl exchange, where it says "US Dollars per $1000 Linden Dollars", what do you usually put there? And does that guarantee you get that price? Also on the "Linden Dollars per $1 US Dollar" section, what do you put there? Or what is a suggested number? Hmm..just trying to get more bang for my buck, and if there is a better way, can someone please tell me? Or do I have to hire a CPA? lol

I never sell lindens, but I wanted to point out I expected this thread to be about escorts.

Sorry to disapoint, guess we can talk about escorts, if you like..ummm how much BANG do you expect for YOUR buck? rofl

Depends. What's the escort exchange rate on SL exchange?

I don't sell Lindens in general, and I don't use SLXchange, but here's the way I would do it on the LindeX. I caution you that while the principles are the same, the mechanics of the two exchanges are different, so you'll have to reinterpret these for SLX. Also, there was a recent thread about bugs in the LindeX system, so some of what I say is about the theory of the way it should work, not what it actually does.

You can find market data for the LindeX at http://secondlife.com/currency/market.php. One of the columns in the table is "Min Rate". This means the minimum number of Lindens that a seller has to give up in order to get 1 US $. If you look at it today, you'll see that this number has mostly been at 264 the last few weeks, but dipped to 263 a couple of days ago, and went as low as 262 a couple of weeks ago.

Now let's take a look at the sell page, at https://secure-web10.secondlife.com/currency/sell.php . There's a table of open sell orders, which is updated in real time, so your numbers may be different from mine. But as I look at it, I see nearly 100K L$ for sale at 265, and nearly 34 million L$ for sale at 264.

So here's what this all means: If you absolutely positively need to sell immediately, then on the LindeX use 266, which would move to the front of the line and sell almost immediately. If you can afford to take the small chance that it might take several hours, but probably less than a day, then use 265. This would put you into the same pool as the other 100K L$ for sale at that price, and since the LindeX moves around 80 million L$ a day, it's highly likely that all 100K will be filled within a day. Remember, though, that it's fluid, and other people could be selling at 266 or even more throughout the day, and those won't show up on this chart because they're filled so quickly. In particular, anyone who sells at market will sell ahead of you, but they're likely to have to give up 274 Lindens just to get a dollar (the current best open buy offer).

If you're not that desperate and which to gamble that you may get a better price, then you could try 263 or 262. You could get lucky and see it filled soon, it could take a couple of weeks, and the market could change so that there'd be no hope of it filling soon and you'd have to cancel your order and refile at a different price.

This is in regard to the LindeX - Please note, this information may not apply from day to day, so be careful and watch the market!





Offer to Sell Linden Dollars (Limit Sell)

Quantity of L$: (note a)

Exchange Rate in L$ / US$1.00: (note b)



note a - Put the amount you want to sell here - more is more efficient and gains you a better price

note b - Put 265 and it sells in less than a day, put 264 if you are willing to wait a day or two.

You may need advanced options turned on to see 'Limit Sell' - look at the proceeds, it should do better than 'Market Sell'.

Good luck! Des

Thank you..this is for lindenx, i suppose it's different for slexchange?

Yea it would be different over at SLEx, maybe someone who uses that service would post?

No, not really. The same principle applies.

1. Look at the open orders list. You always trade time for money...you have to wait longer in order to get a better deal. If you want a REALLY good deal, you might wait forever, if the market moves the other way. I think the best compromise, if you're not currency trading or parking a large sum on a long-odds bet, is to pick an exchange rate that's one or two L$ off from the starting price in the list.

2. The two ways of looking at the market data, L$ per US$ or $US per L$1000, are the same figure, just expressed in different ways. Use the one that makes more sense to you. I'm used to thinking in L$ per $1, so that's what I use.

3, The "spread" is confusing, at least to me. It has something to do with the fact that the average price asked by a seller of L$ is higher (fewer L$ per $US) than the average price buyers (who want more L$ for their $US, naturally) want to pay. Currency traders try to outguess the small swings in these numbers. Their goal is to sell L$263 for a dollar, say, and then buy L$278 for the same dollar. If the L$15 profit they make on that deal is more than the exchange fees, they made "money from nothing".

fwiw, last spring I did a comparison between SLX and the Lindex for both buying and selling, L$10,000, at the best rate I could get over a few days. Accounting for all fees (including single-transaction Paypal fee), it was slightly more advantageous to buy Lindens on SLX, and slightly more advantageous to sell them on the Lindex.

Ymmv.
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