Forex Trading In Chiang Mai

[Cyrus2Ray]

I have been a FOREX trader for the last few years, coming from Los Angeles, California to Chiang Mai to stay for a while.

I do my FOREX trading full-time from home which is also my office for my own trading.

Before I finalize my move to Chiang Mai, I would like to make sure that the absolute necessary tools of this trade are available in Chiang Mai;

1- Availability of a reliable and fast high-speed internet connection, DSL type internet connection at home anywhere in Chiang Mai plus cost per month.

2- Access to the international financial news TV channels, specifically Bloomberg and CNBC, either through a cable TV service or some sort of satellite dish network, at home anywhere in Chiang Mai plus cost per month.

I have a good library of my own FOREX educational materials, such as books, CDs, DVDs, and free quality web resources that are quite useful and practical, and I would be glad to share my personal knowledge and experiences in this virtual financial market with nice people who are interested to know more about it, after I move to Chiang Mai and settle in of course.

however,

I would be grateful to receive solid information regarding the 2 points I mentioned above, internet and TV access, from anyone who does live in Chiang Mai, and can offer some insight.

Also, I would like to know how many other serious FOREX traders are there in Chiang Mai, and how they deal with the issues of internet and TV channels.

PS: This is my first ever forum posting, so have mercy if something is not "forum-fit"

Wishing you all a wonderful time out there in Chiang Mai ! peace !

[garyh]

I trade Forex also, I don't use fundamentals and don't know about the TV you want, as for Internet, you really need to look at getting more than one connection with different providers to be safe. I would suggest you take a look at Cradlepoint Routers. They allow load balancing between multiple connections and also support USB wireless modems. Cat CDMA is fairly reliable but not super fast wireless service and would be a very good choice for secondary connection.

[rakchaingmai]

You could use a vpn to watch t.v from your own country.

I watch all the t.v from back home.

[Cyrus2Ray]

Thanks for the info, much appreciated.

I am an intra-day, short-term trader, and besides watching all the technicals in my trading, I do a lot of short-term trading, scalping of the quick market price moves that happen right after major new releases, so I do watch all the fundamentals and TV news channels for market news and sentiments. I know that one can trade solely on technicals and have great success, however, it is just a personal habit to have the "LIVE" Bloomberg and CNBC channels on the side at all times when I am trading, and without it I feel like I am trading in the dark !

I am still searching online for the answers to my questions in Chiang Mai, I do not want to be too fussy about it, but it is just so important for me to have both while trading.

Being a perfectionist I hear is not a good thing while living in Chiang Mai, and one has to deal with things that are not so readily available as in the west, so I'll just hope for the best. I am sure Chiang Mai has so many other plus points that will perhaps make up for it.

[CobraSnakeNecktie]

if your trading very short term then prepare yourself for significantly more packet latency.

Pick your location wisely in CM or anywhere in Thailand. From one location to another can vary a lot in terms of service. Living out in the burbs is not going to be a wise choice.

UBC Sat has CNBC, CNN, Bloomberg.

Edited March 9, 2011 by CobraSnakeNecktie

[vacationman]

I think you will have no problem with the internet thing here in Chiang Mai. Many people work using the internet every day.

I have whats called the Premier Plan with a company called 3BB at 1,166.30 per month, about $39.00 per month.

You can get cheaper... but not sure if it would effect your service.

I like being able to call them up and say I have the Premium Plan and they normally problems fixed fairly quickly.

Not sure about your TV Channels.

We have 20 channels on True TV and these channels are NOT part of the 20 channels.

Would love to meet you when you arrive in Chiang Mai and want to talk shop.

[CharlieHarper]

I don't live in Chiang Mai but the TV is easy.

As already mentioned get the satellite TV service through UBC/True Vision. I have the gold package at 1,568.12 B/month. Includes movies, docs, sports AND CNBC, Bloomberg, CNN and BBC World. I don't know but would presume these channels come with all packages.

Can find out more here:

http://www.truevisionstv.com

Assuming you are aiming to live in central Chiang Mai, internet will be no problem also. Can't help with costs or providers but those already mentioned are nationwide as is ToT.

[surayu]

For anyones interested in the forex trading, have a look at the reviews on this site: http://www.forexpeacearmy.com/public/forex_broker_reviews

you will soon find out that a huge amount of brokers are just scams, many people also makes money selling methods/softwares which seems to be one of the real way to make some cash (not because those things do really works but because there is someone paying for them)......

[Cyrus2Ray]

Thanks every one for all your kind inputs and suggestions, I am grateful to you all.

and here is what I found so far following your leads;

True Visions does have Bloomberg & CNBC, and they do have an office in Chiang Mai, so I imagine they at least have some coverage in the area, sent them an email requesting area coverage info for Chaing Mai, awaiting their reply, here is their link as first offered by a kind member reply... http://www.truevisionstv.com/package.aspx?id=38

WETV on the other hand, seem to have only a list of 59 channels on their website and does not seem to offer Bloomberg or CNBC, as far as I can see, but they do have a list of their coverage area in Chiang Mai on their website, here is their link .... http://www.wetv.co.th/en_channel.php

Here is what I found on satellite TV in Chiang Mai, though not sure what channels they offer, but at least coverage is no longer an issue since it is satellite and as long as you have the proper location to set up the dish, you should be ok.... here is their link .... http://a.northernthailand.com/th/chiangmai-entertainment/television/313-cable-or-satalite-tv-in-chiang-mai.html

Well, thanks to you all, the issue of TV and Bloomberg/CNBC seems to be coming to at least a partial solution, and I will post further details on the internet issue as I follow your leads and find more info.

here is some info on internet in Thailand in general, a wiki link but quite informational at the very least, I think, ..... http://en.wikipedia.org/wiki/Internet_in_Thailand

and wow !!! here is a link to another Thaivisa forum where they talk about the high-speed internet connections in Chiang Mai, well, seems like my other question regarding the availability of high-speed internet in Chiang Mai is also coming to a solution here.....

and here is a link to the 3BB Broadband internet provider in Chiang Mai, ..... http://www.3bb.co.th/promotion/6mb.php

[garyh]

True uses KU band for Satellite keep in mind you will loose reception in heavy rain. The larger size of rain drops in the tropics absorb the signal.

[Cyrus2Ray]

Thanks everyone for your contribution and your informative posts !,

I do believe that trading in the forex market is the best home-based business one can do from anywhere in the world,

No Pain, No Gain, ...nothing good in life comes easy .... it does take time and effort to learn it, but it is well worth it... I am still a student of this market, and never make the mistake to believe that I have mastered it fully,

learning it costs nothing, no money needed, no risk at all,...... simply do a google search for 'forex", find a reputable forex broker, open a FREE demo (practice) account, and just trade away..... once you feel comfortable, ( after many many months, or a year or more perhaps ) you may decide to open a real account and trade with real money,.....point to keep in mind is that everyone starts with a demo account before trading on a real account, it is an absolute must,... never ever start with real money, play it as safe as you possibly can...do not be in a hurry, take your time to learn it well on a demo account first and foremost before risking any of your money.

I would be glad to answer questions for all those in Chiang Mai who may be interested to start on this fabulous journey,

PS; I am not a master, and I can only share with you what I know which is enough to get you started without any risk,

may you always be blessed with many pips .....

[nikster]

As for internet:

3BB premier is 5Mbit and 2,500 / month. Steep for the speed, but hopefully up more than down.

For safety, I think you should invest in a dual WAN router with a USB connector to get DSL + CAT CDMA 3G. 3G has a high latency compared to landlines but it's pretty reliable and will be better than nothing, when, inevitably, the DSL goes down. IF you do FX trading you absolutely must have a backup connection - otherwise you'll go nuts. Promise.

Tip: If you stay close to the city center, True offers up to 100Mbit cable connections now. Those should be faster than DSL - however, I don't dare say how reliable they are. These are offered only near the city center though, if you go outside a few kms they're not available. I am 5km from downtown and can't get it. They told me Tesco Lotus on Hang Dong road is the limit in that direction.

For trading your main concerns are latency and reliability - latency will be bad, nothing to be done about it, it's just far from the USA, that's all. 250 - 300 ms at least.

Reliability - dual WAN load balancer router is the only way to go. The USB stick could be AIS 3G, CAT CDMA. True 3G is great and all over CM too but I don't know if they offer it via USB stick. I have it on the iPhone, and it allows tethering too, good backup as well.

TV, I have no clue. I don't do TV

[surayu]

I must have clicked something wrong while i was googling, somehow the word "bucket shop" came out, then again i start reading all the wrong stuff about people getting paid by Forex companies to attract others in what can be defined with more than one word, one of which is "scam".

To summarize in a quick example, is a bit like playing pocker with your opponent looking at your cards AND deciding what cards you get....hope is clear enough, always do your own research before any commitments involving YOUR own money.

My apologies if i am disrupting anyone plans, but honestly, i hate to see people fall into scams, whoever they are, that's not right!

[thedistillers]

I have a hard time believing a successful trader would consider Thailand as a base, given the infrastructures, internet latency, time zone, etc.

Also, FOREX is a high-risk activity, and not at all the best way to make money working at home.

[swissie]

To all the FOREX-TRADERS here: Trade through www.xxxxx.com and forget the rest! (If you take a look at oanda, you will know why I am making this statement !)

Cheers and good trading.

Edited March 19, 2011 by mcgriffith
URL removed per forum rules

[CobraSnakeNecktie]

One of the wealthiest foreigners residing in Chiang Mai is the trader Marc Faber who trades currencies, metals, bonds etc. Very popular guest on CNBC and Bloomberg etc.

Marc Faber Wiki

[CobraSnakeNecktie]

To all the FOREX-TRADERS here: Trade through www.xxxxx.com and forget the rest! (If you take a look at oanda, you will know why I am making this statement !)

Cheers and good trading.

Me too. Oanda is very liquid and tight spreads.. good executions also.

I hate the Oanda interface for charting however so use Metatrader 4 for charting and making decisions and pull the trigger in Oanda's java interface.

[garyh]

One of the most reputable forex brokers is Dukascopy.

[Cyrus2Ray]

just to clarify a few points that some members mentioned;

1- I am not looking to profit from sharing my forex experiences with others;

I never have, and never will tell someone to trade with a certain company, .... I realize that some traders have a contract with certain brokers to introduce new members to them and earn a partial income in the form of commission from the new-comer trades, but I have never done that and never will.... if I am successful in my own trading , then I will never have the need to go after such small income in the form of commission from other people's trading, again, I never have done that and never will.

2- Trading in this market has risks just like any other market, ;

if you do not know what you are doing, then you are gambling, and that will just depend on your luck which is just like going to Las Vegas to gamble, I would never ever do that myself and so never recommend it either.

Trading requires a deep understanding of the markets, and the fundamentals and the technicals that move the market price, from a few minutes to a few days or weeks in a certain direction, but since most people never take the time to learn it well, they will blame the dishonesty of the market and brokers as to the reasons for their loss or losses.

Just think about it,... the price either moves up or down,,,,and it does that consistently, up some, down some...and so on....it is not rocket science to trade...you buy or sell...and then the price will be moving either with you or against you....a loss could turn into a profit if you hold on to it...and vice versa...but doing it this way is not trading, it is gambling in Las Vegas, ..not the way to go ! one must take the time to learn it, understand it, and experience it through a practice account for a very very long time before expecting to meaningfully trade and profit in this market....please read my previous post more carefully to see my emphasis on this point.

[tmifune]

I have a hard time believing a successful trader would consider Thailand as a base, given the infrastructures, internet latency, time zone, etc.

Also, FOREX is a high-risk activity, and not at all the best way to make money working at home.

There are probably a LOT of successful/profitable traders living in Thailand. I have lived in CM for over a year now and am on the AIS 3g package. Never had a problem with getting instant execution of my trade orders to my broker and I trade almost everyday. As for FOREX being high-risk, I agree. But trading in general is high risk if you have not educated yourself.

[tmifune]

just to clarify a few points that some members mentioned;

1- I am not looking to profit from sharing my forex experiences with others;

I never have, and never will tell someone to trade with a certain company, .... I realize that some traders have a contract with certain brokers to introduce new members to them and earn a partial income in the form of commission from the new-comer trades, but I have never done that and never will.... if I am successful in my own trading , then I will never have the need to go after such small income in the form of commission from other people's trading, again, I never have done that and never will.

2- Trading in this market has risks just like any other market, ;

if you do not know what you are doing, then you are gambling, and that will just depend on your luck which is just like going to Las Vegas to gamble, I would never ever do that myself and so never recommend it either.

Trading requires a deep understanding of the markets, and the fundamentals and the technicals that move the market price, from a few minutes to a few days or weeks in a certain direction, but since most people never take the time to learn it well, they will blame the dishonesty of the market and brokers as to the reasons for their loss or losses.

Just think about it,... the price either moves up or down,,,,and it does that consistently, up some, down some...and so on....it is not rocket science to trade...you buy or sell...and then the price will be moving either with you or against you....a loss could turn into a profit if you hold on to it...and vice versa...but doing it this way is not trading, it is gambling in Las Vegas, ..not the way to go ! one must take the time to learn it, understand it, and experience it through a practice account for a very very long time before expecting to meaningfully trade and profit in this market....please read my previous post more carefully to see my emphasis on this point.

Nice write up Cyrus,

I'm basically a tech/system trader. My fundamentals skills still have much need to be desired. Yes,trading is not easy. Anyone who claims it is cannot be a trader imo. Anyways, my online experiences have been good.

Edited March 20, 2011 by tmifune

[surayu]

It really give me a laugh when i see people blaming other's loss on not having educated theirselfes enough honestly, how is your well educated way to do business going to avoid somebody on the other end deciding if you will make a gain or a loss? especially when the person taking this decision is going to have a loss in making you earn anything.

I know many brokers claim that there is nobody doing this,surely not them, i also know that regularly as a clock's work there are brokers getting caught red handed and get closed down, there are new brokers coming up as weeds during the raining season, obviously none of these new ones would have any involvements with the bad brokers just being shut.

I wonder why the "well educated" people don't talk about this stuff.....

[Cyrus2Ray]

the previous post seems to have a hint of anger at my posts or some other posts,

I am sorry to see that, but I am trying to understand the reason,

what comes to my mind is that yes, of course, I am sure there are dishonest brokers in this business just like any other business, but that is no reason to write the whole thing off as scam, secondly, with the vast amount of information available to people through the internet, why would anyone risk trading with a new-comer broker without any track record while he/she can open an account and trade with one of the reputable internationally well-known brokers? It is a free world, and one chooses his/her broker, is it not so ? why choose a bicycle when you can have a Mercedes for the same price ? Choosing the right broker is important and if you can not do a simple search online and be able to recognize or find a reputable broker, how can you expect to enter the complicated world of online trading ? Trading in the virtual financial markets is NOT for everyone.

I am still a humble student of this market, but I know what I know through my own experiences, and my comments regarding the forex market have simply been an expression of my own personal opinion, and not a lecture to convince or persuade or recruit, can you not see that ??

[Cyrus2Ray]

I did not start this forum to have to explain myself or be questioned by anyone, ( if you read my first post, you will see ), however, I need to point out a final point here.... a bit of education, only because I have heard it more than once,... here it is;

Critique of the forex market and the dishonesty of the brokers or their manipulation in the price offered to the client;

please search online for NND TRADING, No Dealing Desk Trading, there are brokers out there who offer NDD trading and there are brokers who do not offer such accounts, there is a huge difference between these two trading account types, and most critiques are referring to the trading accounts where the broker does not offer NDD, in which case the broker becomes your counter trader, where your profit becomes their loss, and your loss becomes their profits, and in such a case of course the broker will try to manipulate the trade in their own favor, but even that has its limitations, and is not as scary as it may seem on the surface.

I really do not have the time to get into it in details here, but I can only suggest to please do a Google search for NDD, No Dealing Desk trading versus the trading accounts where the broker does not offer NDD trading, and you will understand the difference if you take the time to read through the explanations, you will understand the difference of course, if not, you may just go around and around calling the whole thing as scam, it is your choice.

Hint ........... : NDD trading = Good No NDD trading = bad

[likewise]

I've been trading forex for over 5 years now and with success I might add.

Most of the shitty remarks come from people who got margin called and then blame their broker.

It is indeed true that there are bucket shops around but when you do your homework they can easily be avoided.

[Cyrus2Ray]

Sorry, did not mean to repost the same post.... still trying to figure out the techs of forum reply...

"Likewise"...... thank you for your comments !!!

I did not start this forum to have to explain myself or be questioned by anyone, ( if you read my first post, you will see ), however, I need to point out a final point here.... a bit of education, only because I have heard it more than once,... here it is;

Critique of the forex market and the dishonesty of the brokers or their manipulation in the price offered to the client;

please search online for NND TRADING, No Dealing Desk Trading, there are brokers out there who offer NDD trading and there are brokers who do not offer such accounts, there is a huge difference between these two trading account types, and most critiques are referring to the trading accounts where the broker does not offer NDD, in which case the broker becomes your counter trader, where your profit becomes their loss, and your loss becomes their profits, and in such a case of course the broker will try to manipulate the trade in their own favor, but even that has its limitations, and is not as scary as it may seem on the surface.

I really do not have the time to get into it in details here, but I can only suggest to please do a Google search for NDD, No Dealing Desk trading versus the trading accounts where the broker does not offer NDD trading, and you will understand the difference if you take the time to read through the explanations, you will understand the difference of course, if not, you may just go around and around calling the whole thing as scam, it is your choice.

Hint ........... : NDD trading = Good .................................. No NDD trading = bad

Edited March 21, 2011 by Cyrus2Ray

[Farang0tang]

I prefer OANDA java platform for pulling the trigger, and now that they also run MT4, I can use the same trusted broker for popping a couple of custome indicators in.

I am east Thailand out in the sticks, and was using AIS USB Edge dongle. Worked fine, Every trade is made with a pre-determined stop loss, just in case connection drops - is working a treat.

Still learning though.

[Farang0tang]

Forgot to add, at my other place where I trade, i do constantly have Bloomberg running - and just havnt got round to getting that here in Thailand yet.

- Betty Liu really brightens up my day!

[thedistillers]

There are probably a LOT of successful/profitable traders living in Thailand.

Then what are they doing in Thailand? Why don't they buy a villa in Saint-Tropez instead of living in a politically unstable third-world country?

Or is 2000$ a month (barely above minimum wage in some countries) considered "successful"?

[CobraSnakeNecktie]

There are probably a LOT of successful/profitable traders living in Thailand.

Then what are they doing in Thailand? Why don't they buy a villa in Saint-Tropez instead of living in a politically unstable third-world country?

Or is 2000$ a month (barely above minimum wage in some countries) considered "successful"?

If a trader has two brain cells to rub together then in addition to the money they spend each month then they should be accumulating tradig capital each month. The smaller a traders beginning capital then wise to strive for less spending and more account building.

As a traders account grows then they can reduce their risk exposure. Trade longer term charts. Build up enough capital and can just trade interest differentials and live high on the hog.

Each trader is in a different stage of their career and working lifespan.

On the MT4 for FarangOtang... Might want to check out Brocompany.com. They offer a unlimited MT4 demo account with a lot more pairs like oil, US bonds, world indexes, commodities and much more.

Really helps for inter market correlation for example if your trading a EUR pair and see the DAX moving or a Yen pair and can watch the Topix. Watching oil realtime helps with commodity currencies like Can$ and AUD. Really helps with entries and getting out.

Absolutely all traders should use stop loss limits and maintain strict limits and risk exposure.

Lots of traders do wash out because they are in a hurry to get rich and take too much risk and leverage.. Take your time and enjoy moderate gains with capital appreciation plus compounding interest.