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40d:Trade depot
Building a trade depot will allow you the opportunity to trade with caravans that arrive at your fortress. Each of the three friendly races will send a caravan once per year, however they will not arrive unless your region is marked as accessible by them. Dwarves will always arrive regardless of location, however. Since trading caravans arrive at random positions on the map edge, it is currently preferable to build the depot as close to the middle of the map as possible. This reduces the chance of the caravan traveling across the whole map then turning around because it is time to leave.
A broker is not required but is preferable for getting better deals. To toggle whether anyone can trade or just the broker is done with b. requesting a trader at the trade depot will queue a job on the traders list. A higher level of brokerage will give you greater returns, so if you're dependent on trade it's recommended to keep one dwarf as broker and level up his appraisal skill as high as possible.
Trader Mood
If your trader has Novice or better Judge of Intent skill, there will be a line added below the traders' dialogue describing the traders' attitude. Their attitude rises with successful trades (especially if they get lots of profit) and falls when you propose deals they don't like.
- (trader) seems ecstatic with the trading
- (trader) seems very happy about the trading
- (trader) seems pleased with the trading
- (trader) seems willing to trade (Default, at least for humans)
- (trader) seems to be rapidly losing patience
- (trader) is not going to take much more of this
- (trader) is unwilling to trade
Happy merchants seem more likely to take your deals, although the exact mechanics of trader happiness and negotiation are unknown. If the traders reach the lowest level (unwilling to trade) as a result of repeated failed deals, they will immediately pack up and no further trade will be possible. Since traders who are annoyed with you are more likely to reject deals, you should tread cautiously in initial negotiations; the more times you fail to make a deal, the less happy they'll be and the less inclined they'll be to accept further deals. Skilled negotiators seem to be more likely to get traders to accept offers that include little or no profit for them, and less likely to offend traders with unsuccessful deals.
Dwarves
The merchant will meet with your liaison and discuss what you would like to buy next year, as well as suggest things to sell. You may buy from the dwarves pretty much anything you could have brought with you during setup, except for pets.
Humans
Human wagons pulled by regular mules will arrive if there is a minimum 3-wide path from your depot to a map edge. You do not need to have a road, but you will need to designate smoothing and tree-cutting along the path. Use D to verify that there is a wagon accessible path to the depot.
Often, on maps that don't have cliffs (and so have ramps between the z-levels usually), a path will exist with no effort.
However, if they don't have a easy route to your trade depot, they may not arrive in time for you to trade, packing his belongings and going away.
Elves
Elves bring you wood and plant items, as well as caged tame pets. However, they will not accept wooden or wood-derived items in exchange.
Clothing that might otherwise be acceptable to Elves will be rejected it if it has blood on it, for example from a slain enemy.