Gold Capped: TradeSkillMaster advanced guide

edit: This is the TSM advanced guide, which assumes you've read at least the basic guide, if not the introductory description of the addon.
So last time we talked about TradeSkillMaster, it was just to go over the basics of the crafting queue. Let's finish the guide and talk about how to set up TSM so that it requires nothing more than a few minutes a day to get your work done.
First thing we'll want to do is update the addon. Since the last post, there's been a new version posted that's ironed out a few bugs. Don't forget to update the Crafting, Auctioning, and Shopping modules as well. The others haven't been changed.
So following the last guide, your trade skill window now looks something like this:


I hear you asking yourself, "How does it know what my profits are?" The answer is in the next image. Click on crafting options (the third icon down on the right) and you'll see this:

- What to base the prices it uses to calculate profitability on
- Which characters and guild inventories you can use
It gets messy with things like raw gems and inks where you can either buy the unprocessed ore and herbs or buy the actual reagents (like inks or uncut gems), but I still use market value for the cost because the opportunity cost of cutting and selling an uncut gem is what I could have made selling it raw. It gets even messier when you have so many raw materials in stock that you value volume over profitability, and it's positively filthy when you get multiple types of goods from the same processed raw mats.
As for the inventory settings, you'll want to include all your alts and any storage guild banks you own. I've unchecked the guild bank for the actual guild I'm in because it's not my stuff in there. This will make it so that when you queue something that requires items not in your bag but are in your bank, an alt's bag or bank, or a storage guild bank, it will appear as yellow. Red would mean that you have no items anywhere and have to buy or make them. Lastly, you can set a 5% profit reduction universally here that lets you account for the AH fees.
At this point, if you were to click Restock Queue, it would queue up any profitable recipes up to the quantity you specified in the profession's global options. If you want to set certain items to queue a higher quantity, then you'd want to go back into the profession options and click here:

The last thing I'm going to show you overrides the costs you set a few steps ago. The market value of your mats is always an important part of your profitability, but sometimes it's just what you want to use. Click on the materials header to the left, and here you can override the cost of any item used in your trade skill.

This shouldn't be done, by the way, if you can't keep enough in stock to list both raw and processed mats. If you're short, you want to list them which ever way has the highest price. For example, I can transmute red gems for just under 60g, assuming I am a transmute specialist on my alchemist. I can sell uncuts for 90g or more, but the market for that is not infinite. As I flood the AH, I have to undercut harder and harder to sell them. I can sell cut red gems much faster at that price range, so I list both cuts and uncuts, increasing the number of red gems I get my money back on.
Try this out for yourself and let me know how it works for you. Also, share any tips or helpful suggestions you may have.
Filed under: Economy, Add-Ons, Gold Capped






Reader Comments (Page 1 of 2)
Garnlok Mar 21st 2011 7:11PM
Every time I go to anything on the site my antivirus yells at me. It seems some malware has gotten in the system and attacked to all your webpages. I posted on the newest article so you'd see it, not sure how to report it to you and trying to let you know ASAP (if you didn't already know)
vegemite Mar 22nd 2011 3:10AM
This Site has no viruses on it as far as i can see. I would imagine that you may have a virus yourself, sounds like you have some scareware like antivirus 2010 or internet security essentials( a very good virus clone of the free MS Antivirus)
wutsconflag Mar 21st 2011 7:16PM
Appreciate the additional information, Basil. I've found the most useful part of this addon so far is the ability to purchase materials for inks. Easy to quickly check whether it's cheaper to buy inks or the materials to make them. That's saved me a bunch of gold so far.
techvoodooguy Mar 22nd 2011 9:22AM
Agreed! Sometimes I'll even catch people selling lowbie inks dirt cheap (stuff like Ethereal, which is needed for most DK glyphs). I always have it check for the actual ink I need before I check for Blackfallow, because I don't think checking for, say, Ethereal Ink actually compares the price to that of Blackfallow. Would be glad to be wrong if someone knows otherwise, though.
bean Mar 21st 2011 7:36PM
Overriding cost was a huge help for me. Don't know how it is elsewhere, but on Thunderhorn-US there's very little outland herbs going up on the AH, but when they do, they have moderately low prices (maybe 4-5g per ink). I figure it's people leveling and throwing stuff on the AH, without really looking at the market.
TSM can correctly surmise the average price, but it can't know how the limited quantity restricts what we can do with it.
By arbitrarily forcing it to think of the price as higher, it guarantees I'll only craft the most profitable of the glyphs with the limited supply that exists. TSM FTW!
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Z Mar 21st 2011 8:02PM
Basil, would it not make more sense to fix all the Materials prices to the amount you actually pay for them, and then use the crafting costs based on that? Especially if you buy in bulk whenever there's mats available for 'your' price. At least that is how I do it.
I set a minimum price for each raw material and buy everything in bulk below that price (using Dealfinder for example). Those prices are what I manually entered in the Materials section as well. That sets my crafting costs, so I base my minimum profit on that (20%, just as you do). Why do you base your Mat Prices setting on Market Value and not on what you actually pay (paid) for it?
This only makes sense to me if you don't have any stock, and just buy all of your crafting materials from the AH only right when you need them.
Basil Berntsen Mar 21st 2011 9:17PM
I buy ore, prospect it, and vendor a bunch of the greens. That pays for the ore, so technically, my cost would be 0 on most of this stuff. You can't simply use what you paid as a guide to real cost- you need to take into account what it would sell for in its unprocessed state.
Rob Mar 22nd 2011 7:23AM
Basil, hope you are cutting the greens before sale!
kuri Mar 21st 2011 8:26PM
Honestly, for my server, the built-in Restock Queue does piddly. I'm running Alchemy and Jewelcrafting on my main. I can see how this would be very useful for cheaply-obtainable-yet-high-volume markets like Inscription, but for my professions (on my server), anything that's profitable one day is unprofitable the next. The materials market, and end-product market, are so volatile throughout the week it's almost silly to craft what TSM suggests via AH scans.
If there's something I wish TSM would add, it's a historical value tracker to help balance out the "long-term" profitability of each craftable item. TSM just taking into account the most recent scan, totally ignoring the massive volatility of server markets, makes me never want to touch the Restock Queue button.
Z Mar 21st 2011 8:52PM
Get the addon MarketWatcher and use it next to TSM
kuri Mar 21st 2011 9:49PM
@Z
Hmm, never used MarketWatch on the side before. Will give that a try tonight.
Still, it doesn't fix the impotence of the Restock Queue button, unless you're willing to see what TSM suggests and either uncheck the erroneous items or manually deselect the items TSM chooses.
I guess given the fact this can't be 100% automated it's better than nothing, but at that point you might as well just use something like LilSparkysWorkshop + Skillet and do things manually from the get-go.
Ragen Mar 21st 2011 8:36PM
It's been wonderful in my crusade to lower the prices of the glyph market (while making money off it at the same time). By knowing my competition's pricing schemes, I've been able to set TSM to an exact amount of profit to seize their share, and to force them into an undercutting war.
TSM does the same stuff I did, only without having to use a notebook and spreadsheet to guess what I needed =P
honky Mar 21st 2011 10:14PM
Why would you want to lower the price of a market in which you actively participate?
Do you not like making more gold $!?
Keith Mar 21st 2011 11:01PM
There's a finite amount of gold you can spend in WoW, but there's an infinite amount of satisfaction in winning AH PvP.
Basil Berntsen Mar 21st 2011 11:56PM
Also, lowering the cost of glyphs increases the number of glyphs sold. And assuming you're good at lowering them, you'll get a larger slice of that larger pie. It's more work, but more money.
Ragen Mar 22nd 2011 12:51AM
@honky
I make more gold overall; much like Basil has stated below. I could squeeze out a bit more profit if I really wanted to, but I'm satisfied at my returns.
@Keith
You are 100% correct. Nothing is more enjoyable than kicking the butts of other greedy individuals.
@Basil
Yes sir. People are hesitant to spend 300g on a glyph, but will not balk at spending 100g or even 200g. So when you sell 10 glyphs at 100g vs two glyphs at 300g, your putting extra money into your pocket, especially if you corner the herb and ink market. If you item doesn't sell, then it's not worth as much =P
Zamboni Mar 22nd 2011 12:32PM
The flip side of dropping prices in an attempt to increase sales is that our expenses also multiply by the same number of sales. Instead of making 270g profit per glyph, we're now making 70g per glyph, so we need 4 times as many sales just to break even. It's a slippery slope that can rapidly fall to a price that requires infinite sales for zero profit. (My competition has this one all figured out.) No matter what the price, there's also a limited number of buyers on any given day - it's quite possible that sales won't reach the numbers we need to break even.
By increasing the number of required sales, we've also greatly increased the amount of time needed to support those sales. Instead of spending one hour milling and crafting and organizing and posting and canceling, we're now spending four hours just to make the same amount of gold (if not less). We're probably going to need to spend even more camping the AH to get that bottom spot on the list multiple times over of the course of the day instead of just taking that 3am sale to a desperate Australian. This is all time that could be spent pursuing other professions, skimming an hour's worth of the most profitable crafts from each of them to greatly increase the daily gold numbers (or, you know, actually playing the game).
Ragen Mar 22nd 2011 4:24PM
@Zam
That is the downside for sure. If you don't plan out your actions beforehand, your going to be doing a lot of work to simply keep up with it.
Hence why this isn't usually the most recommended path to take when trying to make a lot of money.
Neo6488 Mar 22nd 2011 12:41AM
I can honestly say this is one of the best add ons vie ever used. About the only improvement that I could say that it needs is that when you are purchasing goods with the deal snatcher/ price grabber (sry on iPad can't remember name) I really dislike the second pause between buying auctions. I find it's usually easier to switch to auctioneer to buy them up.
Diablo Mar 22nd 2011 1:50AM
I notice you base your posting price on the current price of the listed items...this number fluctuates wildly and can often be a bit low in bursts, and I have found that by watching the market and knowing how hard the items are to get and also how valuable they are to what kinds of players, I can usually predict the fluctuations in pricing, either where nubs post items at wildly low prices, which get bought quickly, or people buy up a lot of something and are willing to pay a lot more than the 100% value at random times unexpectedly, with it mostly being in the middle...watching that range and picking where to put your stuff, means over the 48 hours you can often get a better price than the minimum undercut, although there is more cycling of goods and there can be a bit of an overhead....although the sales can be good if the pricing is right, if you go too high they don't sell and the fees get costly on some items, but other items (especially rare or high end/expensive) can have a low fee and potentially high impulse purchase price.