Comments on: Insider: Tricks of the Trade, Part 2 – Endowment Effect & Trading Tricks https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/ Play More, Win More, Pay Less Tue, 18 Jan 2022 02:54:37 +0000 hourly 1 By: pi https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36286 Thu, 11 Oct 2012 10:33:05 +0000 http://www.quietspeculation.com/?p=32335#comment-36286 In reply to Lakaen.

To me that sounds like you’re tempting people with stuff they could never get. How have the response to it been? I could imagine frequent disappointment at you not trading those cards.

I have several binders, all of them start with artifacts, then B/U/G/MC/L/R/W, so alphabetised. Only for the most expensive binder do I start with a page with special items, a foil misprint, Super Secret Tech, my Judge Foil lightning Bolt and an alternate art Scent of Cinder. Almost all cards in the rest of that binder are more expensive than those.

I do think I should consider moving to binders based on format, but as I trade most with casual players there isn’t a huge need.

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By: Gervaise Pechler https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36284 Thu, 11 Oct 2012 09:14:23 +0000 http://www.quietspeculation.com/?p=32335#comment-36284 In reply to Jared Elick.

the Foil RoS is always a good idea to create a good impression. People see it -> They probably will laugh -> They also probably will talk to you about it -> Creates a positive momentum which is then linked with you so it makes it easier for you to trade.

Especially when you perceive to be the friendly guy as you described in your 2nd paragraph. I think your approach is very good as putting pressure on people mostly does not work with the cards they value emotionally – thanks for sharing!

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By: Gervaise Pechler https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36283 Thu, 11 Oct 2012 09:11:01 +0000 http://www.quietspeculation.com/?p=32335#comment-36283 In reply to Lakaen.

Hey Lakaen, thank you for sharing the front page. Do you have multiple binders or just one? I think you are getting a lot of attention from the EDH/Casual traders by showing these swords which is a good idea if your binder consists of most EDH/Casual cards

Would love to hear your reply!

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By: Jared Elick https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36273 Wed, 10 Oct 2012 21:41:34 +0000 http://www.quietspeculation.com/?p=32335#comment-36273 My front page is:

Armada wurm | Olivia Voldaren | Nicol Bolas, Planeswalker

Falkenrath Aristocrat | Foil Rod of Spanking | Falkenrath Aristocrat

Trostani | Trostani | Trostani

The Foil RoS is the only card in my binder I won’t trade, it has been on the middle of the front page of my binder since unhinged.

However, especially at my local FNM, where people know me, I’ve given cards away before, or thrown things into trades. I try to be the nice guy. Often, i’ll have someone make a comment about a card being something they’d rather not trade, and I will tell them, “Well, take a look, and if you see something, I’d like to pick it up. If not, just let me know if you change your mind later.”

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By: Lakaen https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36271 Wed, 10 Oct 2012 19:07:28 +0000 http://www.quietspeculation.com/?p=32335#comment-36271 My Front Page is All 5 Origonal Foil Swords War & peace, Fire and Ice etc.. and 4 foil Mirran crusaders, And that front page will prob never be traded, but i like to have a good first impression with the first page of my binder.

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By: Gervaise Pechler https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36264 Wed, 10 Oct 2012 14:30:17 +0000 http://www.quietspeculation.com/?p=32335#comment-36264 In reply to Sigmund Ausfresser.

Heya Sigmund, I am delving through other books right now extracting their secrets but I will definitely look it up to see if I can prioritize the Kahneman’s book!

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By: Gervaise Pechler https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36263 Wed, 10 Oct 2012 14:26:01 +0000 http://www.quietspeculation.com/?p=32335#comment-36263 In reply to mathieu malecot.

Hey mathieu, so if I am reading it correctly your binder is divided into 3 sections each devoted to a specific profile. So you have Lotleth troll positioned somewhere in the front of the Spike section, then next to it or on the next page you have Slitherheads displayed as well. Is this the way you organize it or am I misreading something?

In my binder I have (for Johnny’s) Exquisite Blood, Sanguine Bond & Boon Reflection lined up next to each other

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By: Gervaise Pechler https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36262 Wed, 10 Oct 2012 14:23:50 +0000 http://www.quietspeculation.com/?p=32335#comment-36262 In reply to pi.

I am very familiar with the disgusted faces from foreign people when me and some other Dutch magic players rapidly eat those black sweets, hilarious!

I like the idea of obtaining information by asking specific questions about their card that has sentimental value for them. I will experiment with it and see how I can apply it for a better understanding & trading thanks ;)!

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By: Sigmund Ausfresser https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36260 Wed, 10 Oct 2012 11:46:43 +0000 http://www.quietspeculation.com/?p=32335#comment-36260 I haven’t read The Upside of Irrationality yet, but I have red Ariely’s book Predictably Irrational. I’m in the middle of Kahneman’s book Thinking Fast and Slow right now. If you haven’t read that one yet, I’d recommend it 🙂

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By: mathieu malecot https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36257 Wed, 10 Oct 2012 10:43:07 +0000 http://www.quietspeculation.com/?p=32335#comment-36257 my binder is laid out to be pretty and to appeal to spike/timmy and johnny. that way when trades get tough i have a sense of what kinda cards to offer to peak interest if i simply pay attention to what they are interested in. spike wants lotleth troll and i suggest the slitherheads on the opposite page.

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By: pi https://www.quietspeculation.com/2012/10/insider-tricks-of-the-trade-part-2-endowment-effect-trading-tricks/#comment-36256 Wed, 10 Oct 2012 10:15:02 +0000 http://www.quietspeculation.com/?p=32335#comment-36256 I’ve always chosen to not put cards with sentimental value in my trade binders, but once they’ve in there for ages, I tend to develop a sentimental connection to them anyway. I have a few cards that I’m sure I would overvalue if anyone showed any interest. For example the judge foil lightning bolt that’s been in my binder for about 10 years.

That aside, I would probably never try to get a card with sentimental value. I’d probably use the opportunity to ask them what kind of fun they had with the card to get to know them better and find out what they like so that I can suggest cards to them. It’s just not worth the risk of them looking back at the trade later and regretting it. Also it is very rare to come across a card you could not otherwise obtain.

I’ve always been told that tipping 5-10% is normal in The Netherlands, though I’ll admit that if it wasn’t anything special I’d likely just round up as well. You should see my foreign colleagues faces when we have them try liquorice as a typical Dutch sweet.

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