Online Trading

[jphasia]

Pardone my ignorance because I have no clue about trading but I am learning.

My son is doing some trading online (binary, forex, stock...) through a specialize website and I have decided to try.

There is a first part once you sign up is a demo to learn with not real money but once you are ready, you can deposit real by bank transfer (minimum is 10$) and then trade. The profit (withdraw) if any can be transfer to your account.

I am not working at the moment so I am learning / playing with that and consider to try with real money.

I would like to know if this is legal here in Thailand for a foreigner to do that. The money will be transfer from my Thai account and profit (if any) will be also remitted to my Thai account.

I am not expecting to become $ billionaire. It is just to learn and keep myself busy.

 

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[ianezy0]

You can open a trading account with your bank in your home country.

That way you are trading within the laws of that country.

As in the horses, don't put down more money than you can afford to lose.

Cheers

[jphasia]

You can open a trading account with your bank in your home country.
That way you are trading within the laws of that country.
As in the horses, don't put down more money than you can afford to lose.
Cheers

Thanks. I don't have any bank account in my home country. Actually, I don't have anything in my own country (no family, no properties, no bank accounts...). I have been based here since 1991 and never been back to my own country. So I have bank accounts in Thailand, credit cards, house, family...
I don't intend to make this as a main activities, just sort of hobby. I don't need that to make a living, I already have incomes. But I am not working in Thailand, neither have work permit.
I just don't put myself in trouble if this is not legal.

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[fletchsmile]

Yes it's legal for a foreigner to do this. I have trading and investment accounts here

[Farangwithaplan]

I would dry trade for 12 months before you decide to drop and real money in this. People do make a living or better out of foreign currency trading but it is not for the faint hearted.

 

Traders of any kind can be broken down into two types - Trading on fundamentals and the other is trading based on technicals.

My first question to you would be whether you can explain succinctly what both of these methods are and where they diffe

After you have decided your method of choice, can you explain the main theories behind it?

 

If you can't you are doing nothing more than gambling.

[jphasia]

Yes it's legal for a foreigner to do this. I have trading and investment accounts here

Thanks. Good. So no work permit needed for that, right?

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[jphasia]

I would dry trade for 12 months before you decide to drop and real money in this. People do make a living or better out of foreign currency trading but it is not for the faint hearted.
 
Traders of any kind can be broken down into two types - Trading on fundamentals and the other is trading based on technicals.
My first question to you would be whether you can explain succinctly what both of these methods are and where they diffe
After you have decided your method of choice, can you explain the main theories behind it?
 
If you can't you are doing nothing more than gambling.

Thanks, interesting. Yes, I am reading a lot (or watching videos) about this subject and that's the advise that keep repeating: training, learning long time before going for real. I also saw it while I am on demo mode playing with binary, forex and stock. It is not that easy and I just don't have the technical yet. But I will still practice (as you said maybe for another year) until I feel more confident.

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[ukrules]

4 hours ago, Farangwithaplan said:

People do make a living or better out of foreign currency trading but it is not for the faint hearted

It's a walk in the park compared to crypto trading...