Taking Advantage Of 0.50 Baht Fluctuation Monthly

[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.

Thanks for that Naam, but i should have been more clear and said for the month of June, since i cant remember the exact rate at the time.

[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.

Thanks for that Naam, but i should have been more clear and said for the month of June, since i cant remember the exact rate at the time.

sorry i misinterpreted "daily". month coming up...

[KRS1]

Cool, thanks again ! Looks like 500k baht could've been made in a week if 1m USD was invested.

I'm thinking the new low will stay around 30.35 for a few days. Just playing around, dont take it too seriously !

[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.

[...]

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.

http://www.forextradingzone.org/reviews-Oanda_Review Expand the tradable instruments section, just under where it says the minium trade size is 1/10,000,000. I can't see them expecting their customers to put up $20,000 margin as a minimum to trade any of the currencies that they offer. Their minute lot sizes attract customers with little money to play with.

[PCA]

Every Forex Broker who is offering THB pairs lets you trade them with smaller tickets than 1 Million. What makes it hard or almost impossible to profit from the fluctuations is the very low volume and wide spreads as already mentioned from somebody else here. Anyway here is a better chart.

[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:

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.

ditto.... thx for explaining above and beyond my poorly worded passage and message.... this time, i agree with you 100%.... shall we go long or short when the market opens tomorrow....? LOL

[vont]

Every Forex Broker who is offering THB pairs lets you trade them with smaller tickets than 1 Million. What makes it hard or almost impossible to profit from the fluctuations is the very low volume and wide spreads as already mentioned from somebody else here. Anyway here is a better chart.

i showed your chart to the bkk bank manager.... and demanded 20k usd equivalence in thb....

he said to tell you....

only in your wildest dream baby....

[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.

ditto.... thx for explaining above and beyond my poorly worded passage and message.... this time, i agree with you 100%.... shall we go long or short when the market opens tomorrow....? LOL

I think I will open a short position on the baht, in exchange for some beer! I expect to take a loss on this trade

More seriously, I just follow the flow, I don't have the capital to lead it! My mentor told me never to engage in crystal-balling / fortune telling, when it comes to currencies. :jap: .

(Your passage was not poorly worded. I think I lack the patience to read carefully and jump to conclusions as to other people's motives for posting, so I was probably at fault, not you)

[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:

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.

ditto.... thx for explaining above and beyond my poorly worded passage and message.... this time, i agree with you 100%.... shall we go long or short when the market opens tomorrow....? LOL

I think I will open a short position on the baht, in exchange for some beer! I expect to take a loss on this trade

More seriously, I just follow the flow, I don't have the capital to lead it! My mentor told me never to engage in crystal-balling / fortune telling, when it comes to currencies. :jap: .

(Your passage was not poorly worded. I think I lack the patience to read carefully and jump to conclusions as to other people's motives for posting, so I was probably at fault, not you)

i must declare here is the man who is much much wiser than myself.... you are so right again.... never try to predict what the market is going to do.... just follow and take whatever, however much market is willing to offer.... i salute you.... must be getting back to watch the gc and cl.... the boys will be back from lunch....

[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.

http://www.forextrad...ws-Oanda_Review Expand the tradable instruments section, just under where it says the minium trade size is 1/10,000,000. I can't see them expecting their customers to put up $20,000 margin as a minimum to trade any of the currencies that they offer. Their minute lot sizes attract customers with little money to play with.

Thats very interesting thanks.

I called oanda to double check this thid parties info and was told its only been in the last 2-3 months theyve offered SPOT USDTHB trading, which was my belief as I enquired several years ago and was told that they dont offer any action inTHB, and got the same line with most brokers.

For the record they offer Spot, 10:1 - 50:1 leverage and spread is .10, so current quote 30.873/.973. Obviously when dealing with more exotic currencies a wider spread is to be expected.

Im very impressed by their offering, and may have to rethink my stance on only following THB for living costs, and not outright shorting it

[badge]

Every Forex Broker who is offering THB pairs lets you trade them with smaller tickets than 1 Million. What makes it hard or almost impossible to profit from the fluctuations is the very low volume and wide spreads as already mentioned from somebody else here. Anyway here is a better chart.

What other borkers are you aware of that offer THB PCA? And are you refering to a lack of liquidity in their Spot offerings, as the NDF market should still be accomodating to even the deeper pocketed amongst us.

Edit: Infact on closer inspection it clearly states that upto $10m is executable on Spot through oanda. More than enough THB for me!

Edited June 28, 2011 by badge

[samran]

i'm not sure what you mean by "global spot instrument".

Quite similar to a 'flux capacitor' I believe.

[KRS1]

currency pool anyone?

Just kidding, we'd kill each other with opinions.

[Naam]

i'm not sure what you mean by "global spot instrument".

Quite similar to a 'flux capacitor' I believe.

that gadget that plays classical music when you press the green button?

[inthepink]

Every Forex Broker who is offering THB pairs lets you trade them with smaller tickets than 1 Million. What makes it hard or almost impossible to profit from the fluctuations is the very low volume and wide spreads as already mentioned from somebody else here. Anyway here is a better chart.

What other borkers are you aware of that offer THB PCA? And are you refering to a lack of liquidity in their Spot offerings, as the NDF market should still be accomodating to even the deeper pocketed amongst us.

Edit: Infact on closer inspection it clearly states that upto $10m is executable on Spot through oanda. More than enough THB for me!

I can't speak for PCA but when I mentioned low volume / less liquidity as a reason for not dabbling in USD/THB, I didn't mean that a broker will not be able to execute your order, merely that sharp moves are possible that can wipe out your profit without warning and the wide spread means you will need a larger move in your favour to make a profit. The wide spread is due to less liquidity. If you take a long position in EUR/USD for example, and the market moves against you, it is possible to rescue your position by adding to it at lower levels (assuming that the charts are not indicating you made a complete balls-up in which case it would be better to cut your losses) but this would be an expensive modus operandi in a currency with a spread that equals about .3% of its value. The Euro, in comparison has a bid / offer spread of less than .01% of its value against the dollar (with oanda and other retail brokers). Unless you are taking long term positions, I can't see the point of private investors trading THB. If you do take long-term positions going short of THB over a period of days, weeks or months then you need to include the cost of overnight interest to your calculations.

P.S I'm not trying to impress you or pretend that I know everything, because I know very little. Just trying to offer some advice, which you are free to ignore of course!

Edited June 28, 2011 by inthepink

[badge]

Every Forex Broker who is offering THB pairs lets you trade them with smaller tickets than 1 Million. What makes it hard or almost impossible to profit from the fluctuations is the very low volume and wide spreads as already mentioned from somebody else here. Anyway here is a better chart.

What other borkers are you aware of that offer THB PCA? And are you refering to a lack of liquidity in their Spot offerings, as the NDF market should still be accomodating to even the deeper pocketed amongst us.

Edit: Infact on closer inspection it clearly states that upto $10m is executable on Spot through oanda. More than enough THB for me!

I can't speak for PCA but when I mentioned low volume / less liquidity as a reason for not dabbling in USD/THB, I didn't mean that a broker will not be able to execute your order, merely that sharp moves are possible that can wipe out your profit without warning and the wide spread means you will need a larger move in your favour to make a profit. The wide spread is due to less liquidity. If you take a long position in EUR/USD for example, and the market moves against you, it is possible to rescue your position by adding to it at lower levels (assuming that the charts are not indicating you made a complete balls-up in which case it would be better to cut your losses) but this would be an expensive modus operandi in a currency with a spread that equals about .3% of its value. The Euro, in comparison has a bid / offer spread of less than .01% of its value against the dollar (with oanda and other retail brokers). Unless you are taking long term positions, I can't see the point of private investors trading THB. If you do take long-term positions going short of THB over a period of days, weeks or months then you need to include the cost of overnight interest to your calculations.

P.S I'm not trying to impress you or pretend that I know everything, because I know very little. Just trying to offer some advice, which you are free to ignore of course!

Sensible enough advice, apart from perhaps adding to a losing position, but it works for some to be sure.

Ive worked buy side and sell side and traded my own account for many years, so hopefully I'll survive