Taking Advantage Of 0.50 Baht Fluctuation Monthly

[KRS1]

I've noticed for the past 3 months there's a been a steady fluctuation of around 0.50 baht to the USD....up and down every month.

How does one capitalize on this? Without losses from currency exchange?

[Time Traveller]

Very easy for people with a keen eye such as yourself.

Just convert $1 million USD to THB at the rate 30.5 (you'll have THB30,500,000 before fees). Then when the rate is at 30.00 convert THB 30 million back to the original $1 million USD...You're left with a profit of half a million THB in one month!

Good luck with your monthly trading.

[vont]

Very easy for people with a keen eye such as yourself.

Just convert $1 million USD to THB at the rate 30.5 (you'll have THB30,500,000 before fees). Then when the rate is at 30.00 convert THB 30 million back to the original $1 million USD...You're left with a profit of half a million THB in one month!

Good luck with your monthly trading.

i hope you are not serious.

just how are you planning to convert? cash? wire? paypal? western union? smuggling?

that is one expenditure you probably want to include and subtract from your gross profit, k?

another expenditure is also expense incurred at receiving bank.

the longer the list, the longer your expenditure is going to be.

but then i am not going to stand in your profitable trade at all. good luck and good fortune, mate. cheers.

Edited June 21, 2011 by vont

[Naam]

i hope you are not serious.

just how are you planning to convert? cash? wire? paypal? western union? smuggling?

and i hope your questions are not serious. when trading currencies none of the above is used.

[Tywais]

i hope you are not serious.

just how are you planning to convert? cash? wire? paypal? western union? smuggling?

and i hope your questions are not serious. when trading currencies none of the above is used.

Indeed. Forex Trading

[vont]

i hope you are not serious.

just how are you planning to convert? cash? wire? paypal? western union? smuggling?

and i hope your questions are not serious. when trading currencies none of the above is used.

Indeed. Forex Trading

ohhhh.... my dear.... dearly....

another forex promoter....

show me a forex trader who is profitable during the last 6 months....

and he/she can trade my 5-digit live acct....

better yet.... show thaivisa readers on board here....

a current financial statement from a recognized financial institution....

showing the daily trading activities in real time and real money.... for a period of 6 consecutive months....

now do not get me wrong.... several of my friends are trading currencies profitably for several years, but

they would never want to talk to anyone, nor would they want to encourage anyone to trade currencies....

it is a very very very tough profession, to say the least....

SO MY THAIVISA FRIENDS, DO NOT FALL PREY TO THOSE GULLIBLE AND UNETHICAL CLAIMS TO QUICK SUCCESSES IN CURRENCIES TRADING....

success in forex trading does not.... and never.... come easy for any body.... mostly it is the house and the brokers who are getting wealthier from your flesh and blood....

i do not and never claim to know much about forex.... but i do know just enough to take money from the other side....

Edited June 22, 2011 by vont

[KRS1]

Well the one good thing about the thai government is that it seems to be predictable, whenever there's trouble the baht gets weak. I bet around July 3rd during election time it goes past 30.45

Ok, ive tried currency trading with test accounts before , but always lose my ass. Although i've woken up with 8k USD of virtual money one time.I think it would just be interesting to know how the whole thing works though, since i was just skimming before.

Which platform trades the baht, i tried the FX trial account a few years ago, but dont recall there being thai baht. Anyway i dont want to promote anyone, so send me a PM if you have to.

[Naam]

Which platform trades the baht, i tried the FX trial account a few years ago, but dont recall there being thai baht.

THB is still a restricted currency and you won't find a forex trading company which trades a pair, one being THB.

depending on your bank it might be possible to trade THB vs. another currency through "straight forwards".

Edited June 22, 2011 by Naam

[Time Traveller]

Many years ago Saxo Bank had a platform for trading baht. I don't trade currencies so don't know any existing platforms. A bank in Singapore will gladly help you out and there are no restrictions on THB trading outside of Thailand. Generally offshore trading will be as non deliverable forwards where you settle against the difference - profit or loss - instead of actually delivering the full amount of cash at settlement

Edited June 22, 2011 by Time Traveller

[Naam]

Many years ago Saxo Bank had a platform for trading baht. I don't trade currencies so don't know any existing platforms. A bank in Singapore will gladly help you out and there are no restrictions on THB trading outside of Thailand. Generally offshore trading will be as non deliverable forwards where you settle against the difference - profit or loss - instead of actually delivering the full amount of cash at settlement

sorry, but that is incorrect information. there are restrictions and i posted the wording some months ago in this forum but can't find them. additional restrictions, i was informed recently, are (in short and my wording):

no bank located offshore can have open trades or cash not on fixed deposit for at least 6 months exceeding [accumulated] THB 20 million at the end of each business day. any client has to accept that it is up to the discretion of the bank to close any open trades or convert cash deposits into US-Dollars without being informed if and when the afore-mentioned threshold has been reached.

[Naam]

Generally offshore trading will be as non deliverable forwards...

for NDFs the bank has to find a [client] counterpart, then the restrictions i mentioned do not apply. if the bank acts as counterpart they do apply.

[pkrv]

Which platform trades the baht, i tried the FX trial account a few years ago, but dont recall there being thai baht.

THB is still a restricted currency and you won't find a forex trading company which trades a pair, one being THB.

depending on your bank it might be possible to trade THB vs. another currency through "straight forwards".

As far as I am aware, however this is now some time ago, the global spot GBPTHB= instrument is/was in operation - Has this changed?

Edited June 22, 2011 by pkrv

[Naam]

i'm not sure what you mean by "global spot instrument". THB spot trading is of course possible as long as your bank stays within the 20mm limit at the end of each business day.

problems arise if you bought THB, leave it in your current account without instructions to transfer or establishing a fixed deposit (minimum 6 months) and this limit is exceeded. the bank may then convert pro-rata the THB holdings of its clients (without their consent) to USD to match the limit set by the BoT.

[badge]

BarCap offer THB, along with many other EM crncys.

http://barx.com/fx/index.html

[badge]

I should add, the OP is crazy to think that a monthly swing of 0.50THB is guaranteed and achievable, and Ive been broking and trading financial markets for myself and hedge funds for over a decade!

[KRS1]

Look up the past 2-3 months, its only going to get more predictable as election time comes.

[likewise]

i'm not sure what you mean by "global spot instrument". THB spot trading is of course possible as long as your bank stays within the 20mm limit at the end of each business day.

problems arise if you bought THB, leave it in your current account without instructions to transfer or establishing a fixed deposit (minimum 6 months) and this limit is exceeded. the bank may then convert pro-rata the THB holdings of its clients (without their consent) to USD to match the limit set by the BoT.

If I remember well I had THB/USD in a my oanda account. Now using FXCM but they do not offer this pair.

[Naam]

BarCap offer THB, along with many other EM crncys.

they list INR which is offshore not deliverable.

[Naam]

Look up the past 2-3 months, its only going to get more predictable as election time comes.

check THB rates after the military coup, when the yellow shirts paralysed BKK airport and the red shirt riots last may. then you might reconsider using the expression "predictable".

[badge]

Look up the past 2-3 months, its only going to get more predictable as election time comes.

Ive made predictions on THB, but they have nothing to do with 'Taking Advantage Of 0.50 Baht Fluctuation Monthly', or even profiting really. More a consideration for living costs and large purchases.

Im looking forward to your predictions.

[Time Traveller]

i'm not sure what you mean by "global spot instrument". THB spot trading is of course possible as long as your bank stays within the 20mm limit at the end of each business day.

problems arise if you bought THB, leave it in your current account without instructions to transfer or establishing a fixed deposit (minimum 6 months) and this limit is exceeded. the bank may then convert pro-rata the THB holdings of its clients (without their consent) to USD to match the limit set by the BoT.

These limits are only in the case of banks with an account located in Thailand. The BoT simpply has no regulation or authority of Baht trading outside of Thailand. (Also I think the THB 20 mln limit is a net position BTW and the banks clients can have larger daily positions). In anycase, the OP is talking about trading and really only interested in the net p/l rather than actual delivery of a large amount of THB or USD. So, Non deliverable forwards which are widely traded in Singapore are the ideal tool. Again there is no such restriction on trading through Singapore in THB except as you have mentioned finding counterpartys that will accept you trade size.

[Naam]

So, Non deliverable forwards which are widely traded in Singapore are the ideal tool. Again there is no such restriction on trading through Singapore in THB except as you have mentioned finding counterpartys that will accept you trade size.

let's be realistic. are NDFs the ideal tools for the OP? he wants to trade and that means in/out according to his theory of 50 Satang swings monthly. after his bank located a counterparty for getting in, a counterparty for his exit has to be found. ask an SG bank about both time frames and -most important- the minimum sizes... then tell the OP and wait for his reaction.

important too! ask an SG bank which facilitates NDF trading about a client's required minimum asset value before he is accepted and then we keep on discussing theories.

[badge]

$1m standard min. trade size.

[KRS1]

When i started this post the rate was around 30.25-30.30ish daily low ( i think ) the rate is now approaching 30.75. (according to Thaivisa exchange rate at top of browser)

Can't seem to find a chart with daily lows, if anyone knows where to find one, it would be interesting to see.

Edited June 27, 2011 by KRS1

[inthepink]

@badge Retail brokers such as Oanda will let you trade in much smaller lots than $1M, although interbank lot min. is usually $5m, if that is what you were referring to. The spread will kill you on baht trades though.

It's not a good currency for a speculator to trade due to the relative illiquidity of the market.

@Vont - I'm not sure what your rant was about, apart from providing yourself with a platform to tell us that you think you and your freinds are the only ones capable of making money from currency trading.

I don't think anybody here was "promoting" forex trading, merely pointing out the options available. I've been profitable for much longer than 6 months but I have no interest in providing you with copies of my financial statements, why would I?

Edited June 27, 2011 by inthepink

[vont]

@badge Retail brokers such as Oanda will let you trade in much smaller lots than $1M, although interbank lot min. is usually $5m, if that is what you were referring to. The spread will kill you on baht trades though.

It's not a good currency for a speculator to trade due to the relative illiquidity of the market.

@Vont - I'm not sure what your rant was about, apart from providing yourself with a platform to tell us that you think you and your freinds are the only ones capable of making money from currency trading.

I don't think anybody here was "promoting" forex trading, merely pointing out the options available. I've been profitable for much longer than 6 months but, like your friends, I have no interest in discusinng it with strangers or providing them with copies of my financial statements.

if we are not promoting currencies trading, then it is all good and well....

never forget that almost all farang coming to thailand for whatever reasons.... are mostly seasoned and mature and wise.... but then the temptation of hearing someone is able to make a couple of thousand u.s. dollars a day trading currencies.... might be just too tempting....

my point is.... mostly it is the brokers or broker associates or broker inspired.... who are making the spurious claims.... more power to you really, if you are not one of those.... and may you trade well and happily and profitably always.... :jap:

[Naam]

When i started this post the rate was around 30.25-30.30ish daily low ( i think ) the rate is now approaching 30.75. (according to Thaivisa exchange rate at top of browser)

Can't seem to find a chart with daily lows, if anyone knows where to find one, it would be interesting to see.

[Naam]

never forget that almost all farang coming to thailand for whatever reasons.... are mostly seasoned and mature and wise...

[inthepink]

@badge Retail brokers such as Oanda will let you trade in much smaller lots than $1M, although interbank lot min. is usually $5m, if that is what you were referring to. The spread will kill you on baht trades though.

It's not a good currency for a speculator to trade due to the relative illiquidity of the market.

@Vont - I'm not sure what your rant was about, apart from providing yourself with a platform to tell us that you think you and your freinds are the only ones capable of making money from currency trading.

I don't think anybody here was "promoting" forex trading, merely pointing out the options available. I've been profitable for much longer than 6 months but, like your friends, I have no interest in discusinng it with strangers or providing them with copies of my financial statements.

if we are not promoting currencies trading, then it is all good and well....

never forget that almost all farang coming to thailand for whatever reasons.... are mostly seasoned and mature and wise.... but then the temptation of hearing someone is able to make a couple of thousand u.s. dollars a day trading currencies.... might be just too tempting....

my point is.... mostly it is the brokers or broker associates or broker inspired.... who are making the spurious claims.... more power to you really, if you are not one of those.... and may you trade well and happily and profitably always.... :jap:

A couple of thousand dollars a day, yes that's entirely possible if you are trading with a couple of hundred thousand dollars in your a/c. I take your point that it should not be promoted as an easy way to make money because it isn't. It takes just as much effort to be a successful day trader as it does to do anything else lucrative. Then there is the added problem of people's egos getting in the way of their decision-making process. Unfortunately, most people I've encountered that are interested in currency trading seem to have formed the impression that it's like some type of global ATM machine where you can take cash from the markets at will. As you seem to know, it isn't.

[badge]

@badge Retail brokers such as Oanda will let you trade in much smaller lots than $1M, although interbank lot min. is usually $5m, if that is what you were referring to. The spread will kill you on baht trades though.

[...]

Do please provide a link to oanda where they detail much smaller lots than $1m on USDTHB.

Ive already left a link for an interbank broker dealing in min $1m lots in USDTHB, but Id also point you towards FXall.