How Do You Make A Living In Thailand?

[dr_Pat_Pong]

The OP has gone quiet. Maybe taking a bit of reality therapy.

[bowthai]

i researched doing business in thailand and the bars,teaching english,etc.,and all the attendant hassles and problems.

i decided the best way to make a living in thailand for me is to have several condotels in waikiki with a couple thousand dollars in positive monthly cash flow so can concentrate on just living in thailand.it won't be all fun and games as will be spending several hours a week trading hongkong/china stocks so i won't get too bored just lying on the beaches or hanging out in bars.

[DrFisher]

Depending on your given profession, you do the same thing here you do in your country that's what I do anyway for about $6,000 less per month. You asked about making a "living" honestly I haven't seen any English teachers making a living they survive unless they have banked money from their home country and brought it here to set up house.

[Maizefarmer]

I don't think the chap is going to consider finding 3m baht and starting a business at 25 after one trip. If you're happy living hand to mouth for a while to experience things try:

1. Teaching English (there's a new idea!)

2. Playing the stockmarket abroad on the net (gambling)

3. putting in for voluntary redundancy if you get the chance, and using the money to live off in CM for a while

4. e-commerce work (if that's your thing)

5. beg/borrow from parents or bank to try out living here for 6 months

2. Playing the stockmarket abroad on the net (gambling)

Yes - $5000 in a Forex trading account and you could easily make Baht 500 - 1000 p/day. Sorry if that sounds simplistic, but from experiance I really belive that is realistic. Just follw the trend (the trend is your friend), discipline your self (the most important aspect -can;t emphasize how important that is). If it's volatile - choose a pair with a low spred and play the volitality. Pull out as soon as you've meet your target - do not gun for more. Oh, and do your homework - Dailyfx.com is an excellent resource.

I have forex traded from Thailand for 6 years - I set my self a low target each day I trade (on 100:1 leverage with a significantly larger balance to work with - but the principal is the same) - and play as decscribed above. Makes what I earn from the bank look stupid.

... you're your own boss and can "work" whenever you want (day or night)- the forex market is open round the clock for 5 and half days a week.

It's not rocket science, but boy - does it test your self-discipline!

MF

[IMA_FARANG]

I spent 5 months in Thailand and completely fell in love with the north, especially Chiang Mai (and some female, obviously).

Now i've been away for over 2 months and i'm desperate to get back there, and maybe make a few baht whilst there so i can stay for longer. I don't think i want to be there for the long haul but a couple of years would be nice.

Now i realise there are many many issues to consider, visas, thai business partners etc.

But for now all I want to know is how do you make your rice and curry?

Thanks

I notice that many of the people who commented here didn't give you much info on making a living in Thailand. That's because it isn't easy.

I myself work outside of Thailand and come back about 2 months a year. I'm getting ready for the big retirement in about a year. I will be mostly living off the money I have saved for the last 30 years and whatever pension I will get. Won't be rich, but I should have enough to keep me going until I cash in my chips.

Over the years I have known people who lived in Thailand and who did the following:

1. Worked offshore out of Singapore or Malaysia on oilrigs for 3 or 6 months at a time, then came back to Thailand to spend that money until they had to go back to work. Seems nice when you are young, but the work is hard (you bust your butt), but the whole thing gets pretty old as you age.

2. A guy who was a free-lance writer, traveled around south-east Asia, and wrote articles about traveling in Asia. Made himself a basic living, but he wasn't getting rich.

3. A guy whose Thai wife's family had land, and they were into Shrimp farming. Not really any money there, and also you work your butt off.

4. And at least a few "English Teachers" who were always broke.

5. Another guy whose Thai wife and he ran a small guest house catering to Farang tourists.

Basically if you want to make a living as a Farang in Thailand you need to have some skill you can market and need to be a self-starter type who can find and make use of opportunities. You also have to be willing to work hard at whatever you can do.

That is always the key anyway. Good luck.

[bowthai]

I don't think the chap is going to consider finding 3m baht and starting a business at 25 after one trip. If you're happy living hand to mouth for a while to experience things try:

1. Teaching English (there's a new idea!)

2. Playing the stockmarket abroad on the net (gambling)

3. putting in for voluntary redundancy if you get the chance, and using the money to live off in CM for a while

4. e-commerce work (if that's your thing)

5. beg/borrow from parents or bank to try out living here for 6 months

2. Playing the stockmarket abroad on the net (gambling)

Yes - $5000 in a Forex trading account and you could easily make Baht 500 - 1000 p/day. Sorry if that sounds simplistic, but from experiance I really belive that is realistic. Just follw the trend (the trend is your friend), discipline your self (the most important aspect -can;t emphasize how important that is). If it's volatile - choose a pair with a low spred and play the volitality. Pull out as soon as you've meet your target - do not gun for more. Oh, and do your homework - Dailyfx.com is an excellent resource.

I have forex traded from Thailand for 6 years - I set my self a low target each day I trade (on 100:1 leverage with a significantly larger balance to work with - but the principal is the same) - and play as decscribed above. Makes what I earn from the bank look stupid.

... you're your own boss and can "work" whenever you want (day or night)- the forex market is open round the clock for 5 and half days a week.

It's not rocket science, but boy - does it test your self-discipline!

MF

i've been trading forex for 5 years and have $20,000 in my fx account with 40-1 leverage.i am now more short to long term trading and have lengthened my time frames and increased my stop losses after trying the hectic and exasperating day trading.now am looking more long term and set trailing stops on my winning trades.average $200-$500 a day with my system.

right now i am long yen vs the dollar and short euro and pound against the dollar.

and "stop losses are for sissies" is bad advice as one who didn't and lost big money.

fxstreet and moneytec are 2 great forex websites.

[Maizefarmer]

short euro and pound against the dollar

Well done - I went short on GBP/USD on Thursday at 1.9934 and closed at 1.9797 - 2 x 6 lots (I' ll let you do the math bowthai)

Where do u think it's heading Monday morning?

MF

[ThaiGoon]

Thailand is a great place to be when you have enough money to live the lifestyle you choose to live, be it an expensive lifestyle or a moderate lifestyle, if you're happy that's all that matters.

But being broke and worrying about how you're going to pay the rent and worrying about the next visa run expenses is no fun at all.

If you struggle for money in Thailand, you will get all bitter and twisted blaming Thailand, Thai people, your girlfriend, the taxi drivers, the shopkeepers, the National Park Commitee, the Police , The Immigration Police, the government, the press etc etc...........

Work at home, save , then come.

You may still like Thailand in a few years time that way.

[Gary A]

My method is not absolutely failsafe but it is as near as I can get. I go online every month to see if my dividend check and my pensions have been direct deposited into my US bank account.

[blizzard]

you can do it at poker. BUT IT AINT THAT EZ AS JUST STUDYING. YOU do need a knack for the game.

what you do need is knowledge like knowing which sites offer good bonus programs and rakeback, etc.

how many 23 years old people have pensions.............lol. this guy need to learn how to work first, unless he has a special talent he could exploit.

how many 23 year olds are there enjoying the pleasures of thailand? i would assume the same amount as there are farang women being exploited by thier thai boyfriends...................................lol.

Edited May 12, 2007 by blizzard

[dave111223]

I am also 23 (Got married and moved here last year).

I work online here and enjoy what i do. I would be making exactly the same amount of $$ if i was doing it back in the US, so it made alot of sense to work out here.

If you have a university degree you could just start applying for jobs in Thailand on http://th.jobsdb.com/ or similar, i'm not sure how easy this route is but if you apply for enough jobs, you should get something?

Or if you are wanting to work for yourself, Thailand has lots of opportunities.

Maybe start out simple; selling some items on eBay.

Experiment with different kinds of products.

If you are successfully maybe start your own online store, or push into the wholesale realm.

Just some ideas.

[blizzard]

sir

what work do you do online and what do you make? you dont have to be specific in yr answers.

[dave111223]

sir

what work do you do online and what do you make? you dont have to be specific in yr answers.

Webdesign/developement/programming

Since i work for myself it varies alot per month. But i get minimum about 70,000 per month, max 200,000 per month.

(THB of course )

Edited May 12, 2007 by dave111223

[blizzard]

i make 3$ an hour playing online poker. for me its fun and something to do in the daytime while in bangkok.

i mkae 3$ an hour and i truthfully think i dont suck, just so hard..................lol.

[wasabi]

OP is long gone! But this is still an interesting thread. I've tried my luck at the stock market and wiped out my account a few times. I have 90% of my money in mutual funds and they always seem to outperform any trading attempts I make. I would love to win at trading, stocks or currencies but I haven't figured out a good system yet. I'd be interested in hearing other people's ideas for successful trading.

Edited May 12, 2007 by wasabi

[blizzard]

no offense to anyone, but to be successful trading whatever you have to learn to exxagerate.....lol.

very few can actually do it, think in terms of successful farang/thaigirl relationships.

[bendix]

I've said it dozens of times already, but I simply cannot fathom why anyone would be interested to come to live in Thailand and consider they could have a good time on 500 baht a day. What is it about this place that makes people go completely gaga? I mean, the kid is barely out of nappies and he's already having a midlife crisis and considering surviving on playing online poker.

What is the world coming to?

OP. Do yourself a favour. Learn to think with your big head, not your little one. Buckle down. Get an education. Get a job. Get a life.

You DO not want to be poor in Thailand, believe me.

[larvidchr]

I've said it dozens of times already, but I simply cannot fathom why anyone would be interested to come to live in Thailand and consider they could have a good time on 500 baht a day. What is it about this place that makes people go completely gaga? I mean, the kid is barely out of nappies and he's already having a midlife crisis and considering surviving on playing online poker.

What is the world coming to?

OP. Do yourself a favour. Learn to think with your big head, not your little one. Buckle down. Get an education. Get a job. Get a life.

You DO not want to be poor in Thailand, believe me.

"I have said it before, and I will say it again" (quote B.Clinton)- you are a hard man Bendix.

But sometimes you are spot on

Kind regards

[Maigo6]

You DO not want to be poor in Thailand, believe me.

Well said Bendix..........

I'm always amazed by the ammount of people that think that they can come to Thailand and live the 'holiday lifestyle' on no money, thinking they can survive by teaching English.

I knew a guy once who was earning 25,000 Baht per month teaching English, he was always broke, always trying to sponge drinks, living in fear of being caught for working without a work permit.

Great life that must be.

Edited May 12, 2007 by Maigo6

[Heng]

Easy, just go to the atm and withdraw funds as required. Use the funds to purchase whatever goods and services you need/want.

[Meerkat]

OP is long gone! But this is still an interesting thread. I've tried my luck at the stock market and wiped out my account a few times. I have 90% of my money in mutual funds and they always seem to outperform any trading attempts I make. I would love to win at trading, stocks or currencies but I haven't figured out a good system yet. I'd be interested in hearing other people's ideas for successful trading.

In my experience it came down to a lot of homework. I used to trade the HSI (relatively successfully - HKD25k-35k pm from a HKD 100k "float" and mostly no overnight positions, so relatively little risk). I studied the market closely and paper-traded for months before I got in for real. Find one market and stick with it. When I tried to trade the S&P the same way I had with the HSI, I started losing - thankfully I got out early and went back to what I knew best.

Discipline is tantamount - the first time you cut a losing trade can be quite emotional! The market cliches became cliches for good reason; cut your losses and let your profits run (use trailing stops), and the trend is your friend. If you develop a system to time your entry and exit points, as I did, stick to it like glue.

If you're playing on the exchanges, get recommendations for a good broker. Of course this was before the rise of these online systems, so maybe you don't need a bookie anyway nowadays.

Oh, and of course never play with money you can't afford to lose!

[Neeranam]

I'm always amazed by the ammount of people that think that they can come to Thailand and live the 'holiday lifestyle' on no money, thinking they can survive by teaching English.

Maigo, why the big thing about English teachers?

Did you get refused a job once because you don't have a degree?

I've a friend earning 100,000 a month for 16 hours a week, in the evenings(4 a week), in Bangkok. I know another few guys getting well more than that working for International schools.

You can come to Thailand and live the "holiday lifestyle".

[smartecosse]

I'm always amazed by the ammount of people that think that they can come to Thailand and live the 'holiday lifestyle' on no money, thinking they can survive by teaching English.

Maigo, why the big thing about English teachers?

Did you get refused a job once because you don't have a degree?

I've a friend earning 100,000 a month for 16 hours a week, in the evenings(4 a week), in Bangkok. I know another few guys getting well more than that working for International schools.

You can come to Thailand and live the "holiday lifestyle".

thats not exactly the standard wage though for english teachers though is it?

[Neeranam]

I'm out of touch with the going rates in Bangkok. WHen I was there a few years ago, I was getting 700-1000 baht an hour. This is the norm for a qualified, experienced teacher. 20 hours a week - 56,000 - 80,000 month. Probably more now. Of course there are the ex-butcher and postie who do a seaside TEFL course and get a job teaching the local prathom kids for 30,000.

Like many jobs, there's all kinds - I know guys who are traders on the stockmarket getting 1000 b a day. I know a couple getting more like $1000.

I know exporters eking out a living and some who are millionaires.

Give the English teachers a break.

[Maigo6]

Maigo, why the big thing about English teachers?

Did you get refused a job once because you don't have a degree?

Nothing against English Teachers at all Neeranam, in fact, I wish I could do it myself. I just don't think I'm the Teacher type.

No patience.

[Maigo6]

You can come to Thailand and live the "holiday lifestyle".

Yes, if you can earn 1560 baht per hour like your friends do, or even more like others you know, you can certainly live the holiday lifestyle, and more!!!!

I never knew teachers made that ammount of money, the guys that I have known in the past that have got into teaching were doing it instead of going back home, when they had no money left.

1500 baht per hour............. Ok, I'll do it.

Edited May 12, 2007 by Maigo6

[uptou]

Maigo, why the big thing about English teachers?

Did you get refused a job once because you don't have a degree?

Nothing against English Teachers at all Neeranam, in fact, I wish I could do it myself. I just don't think I'm the Teacher type.

No patience.

i tried the english teaching for a short while,& realised it wasnt for me.trying to teach kids who didnt give a toss about learning a language could get abit soul destroying.

[qwertz]

Amen to that, uptou. I had it to the eyeballs teaching teenage classes. I only teach private sector over here now. German rates are good, I gross about 2.5 k € for a 21 hour week and it's comfortable work. But I could still earn in LOS because my main quals. are for interpreting and translating which I can do online anywhere so I don't think teaching over there for the rates mentioned here is likely to interest me.

[wasabi]

OP is long gone! But this is still an interesting thread. I've tried my luck at the stock market and wiped out my account a few times. I have 90% of my money in mutual funds and they always seem to outperform any trading attempts I make. I would love to win at trading, stocks or currencies but I haven't figured out a good system yet. I'd be interested in hearing other people's ideas for successful trading.

In my experience it came down to a lot of homework. I used to trade the HSI (relatively successfully - HKD25k-35k pm from a HKD 100k "float" and mostly no overnight positions, so relatively little risk). I studied the market closely and paper-traded for months before I got in for real. Find one market and stick with it. When I tried to trade the S&P the same way I had with the HSI, I started losing - thankfully I got out early and went back to what I knew best.

Discipline is tantamount - the first time you cut a losing trade can be quite emotional! The market cliches became cliches for good reason; cut your losses and let your profits run (use trailing stops), and the trend is your friend. If you develop a system to time your entry and exit points, as I did, stick to it like glue.

If you're playing on the exchanges, get recommendations for a good broker. Of course this was before the rise of these online systems, so maybe you don't need a bookie anyway nowadays.

Oh, and of course never play with money you can't afford to lose!

I was pretty good about cutting my losses, it was letting my winners run that was hard. I found myself getting whipsawed a lot. What I'd do is set a 10% trailing stop loss, however I'd try to keep an eye on the market and if the stock closed down 6% from where I bought it (this didn't necessarily happen in a day) then I'd sell it the next day if it wasn't showing positive by the close. The 10% t-stop is meant as a fail safe allowing for volatility, where 6% is the desired loss point. I'm sure this is overly simplistic and could be improved but seemed to work. However I found almost like a curse stocks that had nice gains would erode and I'd only capture small part of that gain. Secondly I'd sell stocks with a decent gain after a bit of a sell off not wanting to lose all my gains, only for it to come roaring back to new highs. It was often uncanny how I mistimed selling my winners, a few times within minutes they took off to new highs . I tried various stop tightening techniques to no avail. The results were random and not the product of skill, luck is not a long term strategy so I'm still hunting for the right technique. But I will only commit serious capital if I have a system that is working in the mean time it's the daily grind for me.

I work in finance but am not a trader, I know all about portfolio accounting and calculating performance but trading alludes me. I have seen many fail and am doubtful most can make a living at it though I also know some do, and strangely can do so with ease. I also agree you must control your emotions and never place your personal feelings in the market arena. I like technical trading most but I definitely pay attention to fundamentals as well. My last attempt was a month ago, my total account was down 6% so I decided to take myself out of the market because I found myself wanting to take more risk to make up for the loss, and the market is never a game of catch up. I also find many parallels to poker, doubling down, knowing when to fold, bluffing or know when you're being bluffed. The two have a lot in common. A healthy understanding of game theory helps too. I'll be in Thailand in a week but in another month or so I may take another stab at it. I'm thinking of going primarily short next time.

Edited May 12, 2007 by wasabi

[BlackArtemis]

I don't get this poor teacher shtick. Yeah it's not the 200-700k baht a month jobs some farang have, but you can still do pretty well. A kid with a BA and no experience seems to get 20-25k a month in CM. This isn't to bad for a single kids, but then if you tutor 10 kids for 1 hour a day after school thats an extra 15-20k a month, and run 4 hrs of tutoring on sat. (2 2hr classes) you can pull in another 15-30k a month. so 50-75k a month is possible, well actually it is easy if you can do a good job and the parents like you.

Edited May 12, 2007 by BlackArtemis