1M-2M

Doubling That First Million (1m-2m)

If this is the right section for you, then good on you! It means you have already had a taste of what being a millionaire means. Now lets take that million and double it!

You saw from that last section how easy it was buying all those cowhides and tanning them for a quick profit, or if you are just starting the guide from here, be assured, it's easy.

If you thought that making that first million was easy, then prepare to be amazed at the speed you can double it! You can double your first million, and you only have to stay on Runescape a few minutes to do it!

Yes! You heard correctly. It will only require you to stay on Runescape for a few minutes to get that second million!

For this next method to getting 2M, you need to position yourself at The Grand Exchange, the trading capital of Runescape. Here we go!

I. Before You Begin

What if you were told that you only had to log into Runescape for a few minutes, and the next time you logged back in, you would have 100K more GP? Sound like a dream? Well dear reader, it's reality now. Woohoo! With the introduction of the Grand Exchange, this dream has never been easier!

From here on in, it's pretty much only Grand Exchange money-making. We strive to provide you with the easiest and most efficient ways of making money on Runescape so you need to spend less time making money, and spend more time doing the funs things in Runescape.

A note to F2Pers: If you want to be a serious Grand Exchanger trader, I suggest you get Runescape membership. Staying F2P with just two trade slots make trading ridiculous, and almost impossible to diversify in investment items (discussed in the GE Corner).

So with that being said, the Grand Exchange will be the basis of money-making methods from now on because you can't beat the efficiency of making millions while only having to spend 15 minutes placing buy and sell orders.

It's suggested that you take a look at the "GE Corner" of this website to read up on some of the Grand Exchange strategies starting at Invest Defined. If you have no clue how to operate the Grand Exchange (what the different buttons do), you can read Grand Exchange Controls, or simply get help from the in-game Grand Exchange Tutor.

II. Getting Started on Trading

Most successful traders will tell you, if you jump into the market without knowing what you are doing, you are going to get hurt. That's why its best to build up your experience as a trader by first taking part in small time items and trading.

You should start your searches in a repetitively inexpensive item on the Runescape GE Database's Top 100 Traded Items. There is nothing more frustrating than having an item that just wont sell when you are starting out your first days of trading.

Determining Buying Price. Buy an item for 2.5% less than it's average price. So say and item is on average worth 100GP. You will buy it for around 97 GP each.

Determining Selling Price. The 2.5% rule holds true in selling as well. Sell the item for 2.5% higher than it's average price. So if an item costs 100 GP, you will resell that item for 102.5 or 103 gp.

If done correctly, you will have made a 5% profit. This means, if you invested 1M, you will get back 50K assuming the price for the item hasn't moved up or down. A 5% profit is okay, but it could be easily doubled to a 10% profit if you play the market smart.

As a new trader, until you can at least merchant your way to 2M, its best you play it safe on items that stay relatively same in price and are heavily traded, like Maple Logs and Rune Essence.

Here is an example of what I did with 1M-2M:

1. I spent 1M buying Air Runes for 12 GP each (minimum price).
2. I waited 4 hours for the limit to disperse, and placed a sell order on the air runes at 14 GP (maximum price).
3. Botta-bing-botta-boom! The Grand Exchange takes care of the rest, and I get a profit of 116K just from spending 5 minutes placing a buy and sell order.

Again, as a new investor, its best that you stick to the small time items that are traded often, and once you reach the 1.5M mark and feel like you are getting the hang of it, you can start on Rune weapons and armor. Once you get experience, you will be ready to throw in more money when we reach the 2M-5M section towards riskier items. And everyone knows, the greater the risk, the greater the reward ;)