Ways To Make Money Online

[nicholasmerwood]

This may not pertain to Phuket in particular, but that is where I would love to carry it out.

How hard is it to set up a way of making money online in Phuket. This would be the ideal way of making $ because no rent, no staff stealing money, little space required, can work the hours that you chose, and can work from home, or poolside .

Also, if this is done by trading on the stockmarket - say the ASX for my example, does one have to pay Australian tax if they are making the money while they are staying in Thailand but it is on an Australian trade.

And finally does anyone have any specific ideas?

Hope this is not in the wrong forum.

[N47HAN]

This may not pertain to Phuket in particular, but that is where I would love to carry it out.

How hard is it to set up a way of making money online in Phuket. This would be the ideal way of making $ because no rent, no staff stealing money, little space required, can work the hours that you chose, and can work from home, or poolside .

Also, if this is done by trading on the stockmarket - say the ASX for my example, does one have to pay Australian tax if they are making the money while they are staying in Thailand but it is on an Australian trade.

And finally does anyone have any specific ideas?

Hope this is not in the wrong forum.

Well Im guessing if you need to ask a question such as this on open forum I suspect that your doomed before you start , ..... but then again I wish you good luck

[nicholasmerwood]

Thanks for taking the time to reply to my post but that is not helpful. I now realise there is very likely going to be alot of criticism on the opening post.

[wilsongbrown]

Thanks for taking the time to reply to my post but that is not helpful. I now realise there is very likely going to be alot of criticism on the opening post.

Word.

[katabeachbum]

Sounds like a brilliant idea, working poolside, I ll follow this thread to see if anyone successfull is willing to share.

For some reason, poolside, my income isnt what it used to be.

Edited October 22, 2009 by katabeachbum

[WOOHOO]

I don't think trading on the stock market is something anybody can just do whenever they need a bit of cash. I think there's a bit more to it than that. Your post is very naive to say the least mate. Lets face it, if anyone had any good ideas they wouldn't share them with any one else. A good way of making money from home is arbitrage trading but unfortunately that is illegal in Thailand so that wouldn't be as straight forward as it could be. There are ways around it but they can't be discussed on here. If you want to compete with every man and his dog you could try and make money on flea bay, but I'm fairly sure that's not as easy as some flea bayers make out. Other than that it's good old fashioned graft. Booo!!

[nicholasmerwood]

Yeah I know it was pretty naive, but after a few beers and some good music - I was in that state of mind. Obviouslly there must be a way, now to the hard part to figure that out.

[ESB7]

Suprised you havnt had the normal rants about a Work Permit from those that assume you need one to do anything from making a cup of tea to wiping your own bottom

[grumpyoldman]

Thanks for taking the time to reply to my post but that is not helpful. I now realise there is very likely going to be alot of criticism on the opening post.

par for the course of the people that inhabit this forum

[steelepulse]

Plenty of people doing well online/poolside in TH, but this isn't the forum to find them. 

[RedCardinal]

Plenty of people doing well online/poolside in TH, but this isn't the forum to find them. 

Curious where is then? Always wondered just how many people here in Phuket earn their crust online, and even mentioned to another friend (also making living online in Phuket) about arranging some sort of a meetup to try and find people in the same boat.

[waza]

you will pay a 30% offshore company tax on the dividends and capital gains you make, investing in the ASX. But they are talking about reducing it to 25% sometime in the future

Edited October 23, 2009 by waza

[LivinLOS]

A good way of making money from home is arbitrage trading but unfortunately that is illegal in Thailand so that wouldn't be as straight forward as it could be.

Have you actually tried it ??

Sounds fine in theory, but you need to have money on eposit spread all over all the betting exchanges that you might find an arb on, you need to be constantly scanning them, and you also have the issue of one side of an arb closing after the other side is placed.

Successful arb betting is very hard and often for small margins on little bets (the guys who offer poor odds on a betting exchange are not going to offer bets high enough to allow you to really make a decent margin).

[LivinLOS]

Plenty of people doing well online/poolside in TH, but this isn't the forum to find them. 

Basically its what I do, hence me being online so many hours a day.

But I feel I am not really a good trade timer, and have a lot of risk on my asset to create my returns. I could amplify my risk with much higher leverage and margin but then the chance of being wiped out is also much higher, so slow but steady has to do with my limited skills. Theres other substantial downsides also, the constant fear of loss of equity at play, when thats all you have to fall back on, means you remain focused (read worried) nearly constantly, which is far from the carefree image of margaritas by the pool thats being presented.

[nicholasmerwood]

It would make sense that if you are relying on the majority of your income from trades, that you should at least do some sort of course or study into the subject. I follow the asx daily, and trade sometimes, but I do consider myself a 'newbie' to the field and would love to do some more research. Of course their are no guarantees, blueys definately reduce the stress though (although a bit boring sometimes). As per RedCardinal - I wonder how many people earn their $ online in Phuket. There is never a better time than now!

[WOOHOO]

A good way of making money from home is arbitrage trading but unfortunately that is illegal in Thailand so that wouldn't be as straight forward as it could be.

Have you actually tried it ??

Sounds fine in theory, but you need to have money on eposit spread all over all the betting exchanges that you might find an arb on, you need to be constantly scanning them, and you also have the issue of one side of an arb closing after the other side is placed.

Successful arb betting is very hard and often for small margins on little bets (the guys who offer poor odds on a betting exchange are not going to offer bets high enough to allow you to really make a decent margin).

Yes I have. Most of the trades I have ever made have been between two bookmakers, and not an exchange so I don't agree with the problem you mentioned about not getting bets high enough. Yes you do have to have your capital spread out but I don't see that as a problem. You don't need to scan anything other than your e-mail. you subscribe to a professional service that e-mails you the arbs the second they are found, you then have to act very quickly before the odds change,so you do need to be sitting in front of your computer the whole time you are trading. It's actually very small margins on big bets you are looking to make, not small margins on little bets, (you may stake 2k for a return of 20 pounds) although that is obviously controlled by the bookmakers limits. Yes, one side of the arb closing is a real risk, one of many. You have to be careful that both bookies use the same rules, for the sport in question. In tennis for example, if one player gets injured and retires, (which they often do) then one half of you trade is void and you now have an uncovered bet. You have to be careful of what the bookies call a palpable error. At any time they can turn around and say that they made a mistake with the odds and void your bet, again leaving a potentially, large loosing bet uncovered. Like anything, if you work at it and take it seriously you can eliminate most risks and make a guaranteed profit. For most this will be just a bit of pocket money, because the amount you need to invest to make a good living is huge.

[nicholasmerwood]

Woohoo,

from your experience, how much capital would you need roughly to make a decent living out of this trading scheme in Thailand?

[WOOHOO]

Woohoo,

from your experience, how much capital would you need roughly to make a decent living out of this trading scheme in Thailand?

A very general rule of thumb is a gain of roughly 10% per month. This would involve a few hours per day. So to make a livable wage (depending on desired lifestyle) you are talking £10k upward. Obviously it is advised to start much smaller than that even if you have that much cash, to avoid making any newbie mistakes that could loose you large amounts of money. If you wanted to trade a smaller bankroll for pocket money, I would suggest it wouldn't be worth doing with less than £2k. I will p.m you a site I think you will find interesting. Good luck with whatever you end up doing.

Edit: Forgot to say: As we all know gambling is illegal in Thailand, so it may be best to ask general questions rather than imply that you want to do it in this country.

Edited October 24, 2009 by LivinginKata

[PCA]

A very general rule of thumb is a gain of roughly 10% per month. This would involve a few hours per day. So to make a livable wage (depending on desired lifestyle) you are talking £10k upward. Obviously it is advised to start much smaller than that even if you have that much cash, to avoid making any newbie mistakes that could loose you large amounts of money. If you wanted to trade a smaller bankroll for pocket money, I would suggest it wouldn't be worth doing with less than £2k. I will p.m you a site I think you will find interesting. Good luck with whatever you end up doing.

Edit: Forgot to say: As we all know gambling is illegal in Thailand, so it may be best to ask general questions rather than imply that you want to do it in this country.

Woohoo you dont want to tell this guy that you make regularly 10% a month with this arbitrage betting crap, do you?

[WOOHOO]

Woohoo you dont want to tell this guy that you make regularly 10% a month with this arbitrage betting crap, do you?

You're 100% correct, I don't. And I haven't. I have sent him a p.m, so I guess that makes what I said between me and him. Thanks for you concern though. Out of interest (not that I'm overly interested) what makes you call it crap?

By the way, today I made 7700 baht while sitting in my pants drinking Corona. How did you get on?

[PCA]

You're 100% correct, I don't. And I haven't. I have sent him a p.m, so I guess that makes what I said between me and him. Thanks for you concern though. Out of interest (not that I'm overly interested) what makes you call it crap?

By the way, today I made 7700 baht while sitting in my pants drinking Corona. How did you get on?

you mean it took you a whole day to do that?

[WOOHOO]

you mean it took you a whole day to do that?

No, it took me about 20 minutes to be precise. It was the sitting in my pants drinking Corona that took me all day.

[PCA]

No, it took me about 20 minutes to be precise. It was the sitting in my pants drinking Corona that took me all day.

how bout yesterday and day before? Chang or water maybe?

[Jimjim]

There's a make money online forum that you should visit. Number one site on the internet for this. I will not link to it here as I believe we are not supposed to link to any forum of any other kind in this forum, but as the forum I speak of would not be competing with this one in the least, I do not think it should cause any trouble if you send me a PM to find out the name. I have no financial interest in that forum but would be willing to share a resource that is changing my life as we speak.

[nicholasmerwood]

Is it a pyramid scheme forum?

[cdmtdm]

There's a make money online forum that you should visit. Number one site on the internet for this. I will not link to it here as I believe we are not supposed to link to any forum of any other kind in this forum, but as the forum I speak of would not be competing with this one in the least, I do not think it should cause any trouble if you send me a PM to find out the name. I have no financial interest in that forum but would be willing to share a resource that is changing my life as we speak.

hi jim jim can u pm me the details of the site you mentioned

cheers cdm

[HalfSquat]

I wouldnt mind a PM also Jim.

Affiliate marketing is worth looking into. Its quite hard graft but requires very little financial outlay but lots of time to get going.

[simon43]

Here is how I have made money online before. And note how I have lost it on each occasion!

I have used the same method each time, which is to operate 'premium' SMS text messaging services, such as ringtones & logos, chat and dating services etc.

I first started this type of work when I was living in the UK, made good money and sold my 1-man SMS business for $1m+ around 2002 and built a $1m house just outside of London

- Got divorced from my English wife, lost the house to her

- Came to Thailand/Phuket and started doing SMS services again, (for UK customers).

- Saved up enough money from SMS to build a small and successful hotel in Phuket

- Got divorced from my Thai wife, (investment not lost, but tied up in this hotel business)

- Moved to Jomtien to manage SMS services for a US company (for their US customers)

- Now saving up the money again to return to Phuket. I'll probably buy out my ex's share in the hotel since it is a very little business.

I can honestly say that there is a lot of money to be made out of operating SMS services. My mistake was not to protect my assets from divorce lawyers

If I find the time, I do want to write a little e-book that explains how to profit from operating premium SMS services.

Simon

[nicholasmerwood]

Simon,

how much time did you need to spend on setting up something like this each day? how hard is it to build awareness of the product that you have to offer?

[simon43]

Right now, I spend all day doing this work because that's my job at present

Previously, I would spend a couple of hours each day on this work and then let it run - the operating software runs automatically and my time is spent on checking stats and contacting affiliates.

Simon