Knowledge is power (excuse the cliche)! Why do you think so many parents push their children to do well in school? If you go to this website and click on the education tab, you can see that most countries spend at least 10% of their annual budget on education.
What does this have anything to do with making gold in WoW? It should be pretty obvious that if you were one of the first people to read about how Frozen Orbs were going to be changed in the up coming patch, you could have made a bit of profit.
So how does one gain knowledge? Knowledge comes naturally with experience. The more you play, the more you will become familiar how items, professions, and game chances are related to each other. Having said that, you should always, always READ PATCH NOTES everyday. The latest ones can be usually be found at www.mmo-champion.com . This is one of easiest ways to gain information to help you plan future investments. For example, if you read about how a change that is going to cause epic gem prices to soar next patch, it would probably be a good idea to buy out all of uncut epic gems in the AH and trade channels.
Another way to gather knowledge is by browsing other gold making websites! Well, I guess I don't really need to tell you that since you are already here :P I know there are a lot of really popular sites such as justmytwocopper, hitthecap, etc ... but don't forget to check out some of the smaller blogs (like mine), sometimes they have really useful information! Don't just look at the front page either, you gotta dig around in older posts for some of the really good stuff. Here are a few sites I recommend looking at:
- Justmytwocopper (A lot of you were probably led to my site from him... Thanks Markco!)
- Hit The Cap! (A great progress blog, you want to read all her older posts, as they contain valuable information)
- Tarou Wow Guides (Check out his free gold guides! They are accompanied with YouTube Videos, and generally cover all you need to know about professions)
- Wow Confidential (Great site, neat layout with nice posts to follow)
- Anaalius's Gold Hunt (Nice blog, lots of useful information for the general player)
- Stokpile (Very detailed blog, has lots of helpful posts about professions!)
Don't forget that too much knowledge can also be a bad thing! It can lead you to make poor investment choices. When you read patch notes, remember that patch notes are only patch notes! Anything can be changed before the patch is implemented onto all servers! For instance, when epic gem transmutes were first introduced on mmo-champion and on public test realms, there were no cooldowns at all! Many people on the server began mass buying forest emeralds. Obviously, it was too good to be true, and a few days later a cooldown was implemented. As a result, the majority of people that jumped onto the bandwagon lost gold XD.
- Learn how different items and professions are connected to each other
- Read patch notes
- Check out other blogs
That's it for this post! Whew, I'm exhausted from that typing (and you are probably tired from reading all my crap). Good luck and check back soon for more updates!
PS. Please take a quick moment to leave a comment! I don't want to spend my time writing stuff if people don't actually read! So if I get no comments, my motivation to continue blogging takes a huge plunge...also contributing to why I don't update. lol. So, if you wanna see more soon, please let me know with a quick comment :)