Duff

Great stuff. Thanks guys

I've got some Thai friends who are holding large amounts of cryptos like BTC, ETH and OMG, and they advised me NOT to withdraw from BX in THB as I might have to pay taxes (different from capital gain on securities which is tax-free, since it seems that cryptos are considered assets).
Anyone if you guys have actually withdrawn "large" sums from BX (> THB 1,000,000) to your local bank account in Thailand?

I heard that McDonalds etc in Thailand  are going to be using this cryptocurrency. 
 
I bought 3 weeks ago and have already made x10 my money!

On 6/7/2017 at 1:13 PM, DaveBKK said:

Arbitrage opportunities never last for long. Last night the difference between BX and Bitstamp was only 2%, hardly worth the bother of transferring around.

 

Also, it seems no one here has *read* the terms and conditions on BX, specifically:

 

The customer must agree never to exchange currencies purchased from the Website for any foreign currency other than Thai Baht.  The customer must also guarantee that any crypto-currency the customer sells at the Website have never been involved in exchange with any foreign currency other than Thai Baht.

 

For national currency deposits the company will accept only Thai Baht; all deposits must involve only Thai Baht and no other foreign currencies. All Thai Baht deposits must originate within Thailand. Any deposits sent in other foreign currencies, or originating from outside Thailand, will be rejected and forfeited.

 

 

Ouch... Anyone here has had any luck transferring bitcoins or altcoins from abroad (from Kraken or Poloniex for instance) to a local a Thai exchange and withdraw Thai bahts to their Thai bank account?

14 hours ago, Sambotte said:

There is enough liquidity for me on Bx :) For BTC, ETH, and XRP (added recently).

I see orders of 1Mo bahts on the lists everydays, so it depends, if you want to buy/sell 10Mo bhts, Bx could be short :)

 

Prices are around 10-15% more than average market price, but no problem if you buy-sell on the same platform. Or you can buy somewhere else and sell on Bx. And every market has his price, and varying. US, Japan, Korea, China, Europe, there are differences. I think prices in Thailand are like in Japan, around 10-15% up the average price.

 

Not a problem here i would say, volume and prices are ok on Bx. Inscription is very fast, Support is reacting pretty well, bank cash deposit are very easy and quick. Not like some other big exchanges... Bitstamp, Kraken... No support.

 

Localbitcoin is P2P so you have to be carefull, and paiement options are very slow sometimes.

 

Bitcoins.co i think they have a strange fee of 1%.

And Coins.co witch is from Philippines is a brocker, they sell you BTC taking 8-9% fee but on both way i think (buy and sell), so you lose a lot, it's a fee, not a price upper. Normal fee is 0.25% so to compare.

 

Bx.In.th is pretty good i find.

Thanks a lot for this very helpful answer. There may be an arbitrage opportunity here indeed. I need to dig deeper

BTC seems quite illiquid in Thailand...

The discrepancy between the spot price (THB82,600 as of right now) and the selling price on bx.in.th, bitcoin.co.th (same company) and localbitcoins.com is huge... selling on average at THB 88,000 ...

Which platform have you guys used to buy bitcoins and/or ethers with THB?

You have to make it a habit.

Habit forming consists of 3 steps:

1- trigger => 2- routine => 3- reward

The routine in your case is going to the gym.

You have to find a trigger, a cue that will remind you, trigger in you the need/the action of going to the gym. It could a specific alarm on your phone, or seeing your sweat pants on the table, or whatever that will remind you that it's time to go to the gym

Then the reward part is of utmost importance. You have to find something really enjoyable that you will make you want to go to the gym.

It could be watching a new movie on your tablet every time you're a the treadmill at the gym, or buying new clothes (if you have the money ;-) right after a work out, or seeing friends, or whatever is pleasurable for you so that your brain will associate pleasure with going to the gym.

The plasticity of our brain then creates new neural pathways which alter the way we think and act.

Studies show that for a new habit to sink in, you must do it for at least 21 days in a row.

Also, to make things easier, you might have to change your environment. Indeed, if you want to quit smoking, it'll be much easier if there are no cigarets around, and no one who smokes.

For instance in your case, putting your running shoes and gym clothes on, will of course make it easier for you to want to go to the gym. Having many photos of women/men in great shape on your walls can also help. There are many hacks to improve your environment.

I also suggest you read "The Power of Habits" by Charles Duhigg and "The Happiness Advantage" by Shawn Achor.

Thank you so much Ubon Joe, very helpful!

Really appreciate the speediness of your reply

Forgot to mention that my current non-imm O visa is a multiple-entry visa, not that it actually changes anything.

My non-imm O visa is valid until the 30th of August (the end of this month).

So I went to renew it last week and I now have a stamp saying that my "application of stay is under consideration" and I have to go back to the immigration office in order to ฟังผล on the 13th of September.

My question is, can I leave the country for a few days for traveling between the 30th Aug (date at which my visa will expire) and the 13th Sep (date at which I'll get my new 1 year extension) ?

Thanks

Dollar cost averaging in an Oil fund that pays dividend. There are some good ETFs out there as an alternative.

Invest 50,000 bahts in that fund or ETF every month for the next 20 months and thank me in a couple of year.

This oil bear market is a once in a lifetime opportunity, IMHO. Everybody is selling like oil is going to $0 which means we are not far from a possible capitulation bottom.

After already falling from $110 to $28, needless to say that risk/reward is very much skewed to the upside.

Be greedy when others are fearful and don't listen to the news, no one ever got rich from following the news. But you can use the news to your advantage be gauging sentiment. When you see all the headlines saying oil is going to $0, that'll be the bottom.

Indeed. US outperformed EMs for quite a few years. It's just normal that EMs have now started outperforming the S&P (China +30%, possibly just getting started, Latam +36%, India +40%, Thailand +37%...)

Thai stocks have been in a bull that started in January this year. The majority of people make money during a bull. Like the old Partridge used to say "Well, it's a bull market!". You should check how she performs during a bear or a market going sideways. This is when you'll know whether she can adapt her strategy and she's the real deal

A friend if mine did it and I must say I was amazed by the result.

I can say that this technique really works (maybe the only one that really works?...)

Not sure about the specifics but my friend told me he had to do 2 sessions at an average cost of THB80,000 per session. He also told me that the more hairs you have left, the better it will look. Indeed, they basically cut a band of skin from behind your head (you'll keep this scar for life BTW), strip the bulbs and then transplant each bulb, one by one to the area you want.

Another technique is to remove bulb by bulb, thus not leaving you a scar but it takes hours...

After each surgery, my friend had his head wrapped in bandages and a swollen face for a couple of days.

6 month later as hairs grew back, it looked really natural and no one could see the scar on the back of his head.

One important thing is that it doesn't stop baldness. My friend is planning to do some more sessions in the future as other areas are starting to get affected.

There is no manipulation. Only people buying and selling. Some have deeper pockets than others

EUR/USD breaking down from 2Y rising wedge at 6Y T/L

US dollar index highly inversely correlated to gold. Likely to breakout shortly to the upside.

EUR/USD weights 57.6% of the USD index

=> Bearish for Gold/Silver

Yup, supports still holding so far. Should it break, I'll get out without hesitation. I like the risk reward. Small loss vs much better potential gains

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chart

Hello fellow traders,

I highlighted a bearish rising wedge last month in the SET

Today the SET broke down from a 5 months rising wedge, right at upper 14-month T/L, as it's been struggling getting through the 50% Fib.

Close triple support at 1373-76 (lower BB, 50MA, 38.20% Fib).

But should this support break, SET is likely to fall around the 1,310 area which could potentially erase 4 months gains.

Trade safe!

"Markets are never wrong, but opinions often are" - Jesse L. Livermore

"Markets can remain irrational longer than you can remain solvent" - John Maynard Keynes

Bought loooots of silver and miners yesterday, trailing stop. Nice risk/reward ratio. Gold and silver right above support, bullish RSI divergence, Silver/gold ratio at 23Y support, miners iH&S on weekly, weak USD... Potential very nice move to the upside. If support breaks, I'm out

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Couldn't agree more

My understanding of this all is that the futures exchange as an organization is simply helping the government organize an auction of their physical rice.

If the government wanted to hedge their exposure to their physical stockpile they could sell futures contracts (although with such a large position they would likely send the price down and speculators would jump on the trend and further depress prices. They still would need to find physical buyers to unload the stuff though, the futures gains from the short position would just offset (partially only in reality) the loss they would face from the fact they need to sell at rock bottom prices.

In terms of rice trading at different prices on different exchanges, other than differences based on quality, arbitrage opportunities will keep the prices pretty much in line. Basically what this means is that if the prices of the two contracts start to diverge, some guy at Goldman Sachs with a billion dollar position limit will sell the more expensive contract while simultaneously buying the cheaper contract for a risk free profit. This activity brings the prices back in line..

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I see. Well, it seems that the AFET not only operates the futures exchange but also organizes rice auctions.

Here was the lastest one: http://www.afet.or.th/2013/en/news/press/detail.php?id=931

Thanks for that Duff, sorry if I did not make myself clear.

Your explanation corresponds to what I have read about futures in the Agg industry.

However this does not seem to gell with what the Govt is trying to do, IE sell old stock rice.

In the following article they refer to " the Agricultural Futures Exchange in Thailand (AFET) "

That is what I what I was referring to.

BANGKOK, March 27 – The Commerce Ministry has given assurances that it will pay back Bt20 billion it borrowed from the central fund to make good the overdue payment to farmers under the rice pledging scheme within May as required.

Caretaker Deputy Commerce Minister Yanyong Phuangrach expressed confidence that nearly one million tonnes of rice will be released through the Agricultural Futures Exchange in Thailand (AFET) this year.

The Commerce Ministry expects to earn more than Bt6 billion after auctioning over 500,000 tonnes of rice through AFET this month, he said.

He said 230,000 tonnes of rice will be auctioned in the eighth round with 13 bidders, including three new ones.
The seventh auction released more than 500,000 tonnes of rice, at a total value of Bt6 billion, he said, adding that this year’s rice release via AFET will break the 2009 record when 600,000 tonnes of rice were auctioned through AFET.

Mr Yanyong said the Commerce Ministry will try to release rice through AFET twice a month at 200,000 tonnes in each auction, and the next bid in April will involve 100,000-200,000 tonnes of rice.

He said government-to-government trading with China is another channel to release rice and the Commerce Ministry has targeted selling 100,000 tonnes of rice to China each month.

It’s quite likely that the Finance Ministry will be paid back the Bt20 billion owed by the May deadline, he said.

He said the Commerce Ministry has inspected more than 60 per cent of the government’s rice stocks and should wrap up the survey on March 30. (MCOT online news)


-- TNA 2014-03-27

So 2 days and 149 views.

I have to assume that at least 150 of us don't know anything about this one.

Still I will look again tomorrow just in case there is someone who does know.

Indeed, when everyone is bullish it's time to sell. I'd love to get my hands on a Thai stock market sentiment chart.

Meanwhile, the SET says another story forming a bearish rising wedge near a 52-week upper T/L with a slight RSI bearish divergence and volume drying.

If the SET pierces through the T/L, we could possibly have a new bull market. BUT probabilities are much higher that it'll break out downward on volume.

And if it does, don't believe the "guru" anymore and get out as fast as you can...

Interestingly, the breakout could match with the after Songkran Jatuporn show

Starting trading is easy. I suggest Kim Eng if you wanna trade Thai stocks and E*TRADE if you wanna trade in the US

Making money out of it is not easy

Before starting anything you should learn how to trade/invest first, learn how to research good companies, when to enter a trade, when to exit a trade, risk management, fundamental approach and technical approach.

I suggest you learn about:

- the basics ("The Neatest Little Guide to Stock Market Investing" by Jason Kelly & "Stock Investing for Dummies")

- fundamental approach ("The Intelligent Investor" by Benjamin Graham, "Value Investing: From Graham to Buffett and Beyond")

- growth + fundamentals ("One Up on Wall Street" & "Beating the Street" by Peter Lynch)

- fundamental + technical ("How to Make Money in Stocks" by William O'Neill)

- technical analysis ("Trading For A Living" by Elder, "Technical Analysis Explained" by Pring, "Technical Analysis of the Financial Markets" by Murphy, "Japanese Candlesticks" by Nison)

- trading psychology ("Trading in the Zone" by Mark Douglas, "Trade Your Way to Financial Freedom" by Van K. Tharp and "Trading Beyond the Matrix: The Red Pill for Traders and Investors" by Van Tharp)

- the best of the best ("Reminiscences of a Stock operator" by Edwin Lefevre, "Insider Buys SuperStocks" by Jesse Stine, "How to trade like a stock market wizard" by Mark Minervini)

Sounds like a lot? Trading is a zero-sum game. For someone to win, someone else has to lose. So if you do not have an edge, you are bound to fail. You may be lucky once or twice, but odds are largely against you and you'll lose eventually.

And their are hundreds more interesting books but if you read those, you'll have an edge over 80% of investors/traders.

I've been trading for 6 years, losing most of my money and almost quitting several times until I started to really get into it, started doing my homework and finally reached consistent profits and became a full time trader.

What I learned is that NO ONE will help you becoming profitable, do NOT listen to friends/family, your broker, CNBC, financial articles...

Learn how to increase your probabilities with fundamentals, how to read price/volume with technicals and follow the markets. Mr. market is always right as it's him who sets the prices. Opinions on another hand are often wrong.

Cheers