Trading Foundation

Lately I have been meeting a lot of people interested in taking my trading course and they all pretty much want to take a course but are afraid to take it, aren't comfortable taking it, or don't have the money to invest in their education.   And of course the fear of all the scams out there, all the get rich quick schemes.  Guess what?

I guarantee you will NOT get rich overnight from Forexbut with some hard work and the right foundation you can live comfortably

You see I am selling everything here in Phuket Thailand and plan n traveling, after all I'm the traveling day trader ;)   I just find that a life on the road, without commitment, with freedom, on a permanent vacation is the way to go.   After all YOLO and there is so much to see and do in this world.

Almost everyone I've met through selling my household items, gadgets, and sports equipment, I ended up talking to for over half an hour about trading and my lifestyle.   Now that I'm moving I'm meeting like minded people and almost wish I stayed longer.  Putting my trading mind to work I analyzed and deduced that this is no coincidence, for one I'm meeting like minded people because they are buying stuff from me that I also enjoyed and have an interest in, and secondly because they are mostly foreigners like me here in the land of smile.  I'm likely projecting a go happy lucky attitude and more open to striking up a conversation because I feel free as a bird.

I remember the first training course I took was US$999 but it was a client of mine and he comp'd it.  So sure I took it because it was free but I would have gladly paid that money because I'm a big believer in education.  College and University fees are much more and if I'm going to take a certification course for management consulting it's in the thousands. 

Sure it's a lot of money, but is it? 
Can you afford not to invest in your education?

The analogy I like to use is that of a golfer.  There are 3 types of golfers:

1.  The one taking lessons from a Pro
2.  The one trying it on their own
3.  The one trying it on their own and eventually turning to a Pro.

Which one do you think does best?  and which one do you think needs to have all their bad habits retrained which takes even longer and will cost you more time money and effort in the long run.

If you're serious about trading, or anything else in life that makes you money, you need to invest in yourself and your education.  It takes 10 years to become an overnight success, and you can get a headstart by taking a course from a professional coach.  Or don't.  But don't act surprised if you loose 3 times the money you would have invested in a coach and end up dreaming about Forex while working 9 to 5.

Getting a Thai Driver's License in Phuket

A few months ago I got pulled over at a Thai Road Check.   I don't even remember how often I have gone through them without a hassle.  My Canadian license has always been fine but just in case to avoid any hassles I got an International License.

If you are new to Thailand you have to be aware that you are held liable for any accidents (even when you are NOT at fault!) if you don't have an International Driver's License (IDL) and even your IDL may not hold up for insurance purposes if you have been in the country for longer than 3 months.

Mutual Acceptance of driving licenses.  Most countries, including Australia, Canada, New Zealand, the UK and the USA have this agreement with Thailand under the 1949 Geneva Convention on Road Traffic or the 1968 Vienna Convention on Road Traffic.

Things that make you go hmmm....

This time it was different.  The Thai cop wasn't sure about it and asked a Tourist Police Officer, a British Expat and funny enough the British Cop had an attitude and said it wasn't valid.  Of all the stories I hear about corrupt Thai Police, I have never ever experienced any corruption or harassment from Thai Police, they have been super friendly and just.  But not this British Tourist Police old grump...  

There wasn't much I could do but pay my 500B fine and keep going, shaking my head and cursing a fellow "Farang".

The analogy I would use is that when you're a trader you think your broker looks out for you, but some brokers (especially those with dealing desks) are actually trading against you.  So be sure to research your brokers and switch at the first sign of any shady business.

Getting your Thai Driver's License (in Phuket)

Chiang Mai and Bangkok click here

Your Thai Driver's License is more than just a license. It is also your ID as it has your Passport number on it (no need to carry copies of your passport around) and can be used to:

• check into domestic flights
• check into hotels
• at the bank (even to change your address or request extra passbook pages you need ID)
• at the cell phone stores (to apply or change services)
• at National Parks, supposedly!   There are rumors that you should get Thai prices at National Parks but I have always been subject to the Farang tax.

Once I was asked for my passport when I wanted to pick up my Stereo at Power Buy which I had serviced under warranty...  Go figure...

When police see your Thai license they give you a big grin and wave you right on through while other Farangs queue up to have their papers inspected.

At hotels or airport the staff usually perk up and they make some conversation with you about it.

The process for a new driver's license (motorbike or car) is quite similar to the renewal process.  Note: There have been some reports that for new licenses citizens of the UK and US have not had to take a road test.

• Document Check @ Information - Be sure to show up at 8am
• Copy of Passport Information Page
• Copy of Thai Visa and Entry Stamp (Visa Exempt Stamps are not valid)
• House Certificate (you need to get this from Immigration and requires your rental contract, house owner id, and registration)
• Doctor Medical Check - you need to see a doctor (100B) or stop at any Hospital (200 to 500B) to get a Medical Check for Drivers License
• If renewing then your old drivers license
• Photocopies can be done cheaply in the booth outside next to the food kiosk, but the lineup might be long.
• Office #7 for Reflex and Color Blindness Test - You put your paperwork in the bin at the entrance, sign in and wait for the officer to call you, then you sit down and drive a simulator, you put your food on the gas and when the green light turns red then you slam the brakes.   You do this about 3 times and then you have to name of the colors that appear on the traffic light.  Which btw aren't coordinated with the position so  red might be where green is and yellow where red and so on.
• Training Room - Before you used to watch a 1.5 hour video in English that looked like it was made in the 70s, it was quite informative.  Now there are 3 videos that are in Thai with English subtitles, they still looks old, circa 2000, and they are quite long. Also it is more interactive, you will find the Officer talking in Thai and asking questions, and then there will be a Farang round for questions.   Before you used to be done by noon but now it goes to lunch, you get a break, and then have to come back again at 1pm and watch the remaining video and have more questions asked.  Before you leave you get your paperwork back and it has a test chip card attached to it.
• Exam Room - Someone greets you and sits you down infront of a kiosk, they take your chip card, enter it, and the test starts.  You get 50 random questions, which might repeat themselves, and pick 1, 2, 3, or 4.   Want to study?  Here are examples of the questions (with answers).
  When you are done, the system will tell you what questions are wrong and let you review the question and answers.  If you are doing two licenses, motorbike and car, you have to do the test twice.
• Renewing License - If you passed and you are renewing then you're done!  See Payment (last step)
• Road Test for New License* - If you are getting your license for the first time then you have to endure a Road Test.  Often you have to come back the next day for the road test and it's usually @ 1pm for Motorbike and around 3pm for cars.   In scolding hot temperatures, so bring water!  Or buy some at the food kiosk next to the entrance to information.
  
  Note: There have been some reports that for new licenses citizens of the UK and US have not had to take a road test.
  The instructor here is your typical macho man that likes to make fun of Farangs and blurt out orders.  You have to wait until the instructor calls your name and at that time you get your bike/car, hand the second officer your papers, and take the road test.
• Motorcycle Road Test - You have to show that you can balance your motorbike by driving on a 1.5 foot wide strip of elevated pavement that's about 15 feet long.  You wouldn't believe how many people can't do that.  You get two tries.
  
  Next up you have to drive around a traffic circle.  Remember to turn left into it... you wouldn't believe it but some people turn right...  and then go down a road, turn right, go through some pilons set up and demonstrate you can swerve your motorbike around them, then go up a hill, stop at the stop sign, (some people go straight thru 555) and then return back to collect your paperwork and verdict.  There is an officer in the booth watching you from a far and traffic cameras, so don't do anything foolish.
• Car Road Test - Slightly more difficult because you have to demonstrate parallel parking, but the Thai way which is a super exaggerated turn at almost 90 Degrees opposed to the 45 or so Degree Farang way.  Best to google some videos on you tube and watch the people taking the test before you.  This is the only time you want to be a farang, in other words, you are queued at the end of the testers.  The instructor usually ignores you and speaks only Thai, makes fun of Farangs, and then finally talks very broken English and says watch this person take the test.  I have seen spouses guide their wife's from the nearby fence and it took them a painful 15 minutes and 20 tries with near hits of the fence...  Bring Popcorn!   When the officer is satisfied you drive around the traffic circle, swerve around some cones or poles, and then drive up a hill, stop at the stop sign, continue, park your vehicle outside and return back to get your paperwork and verdict.  There is an officer in the booth watching you from a far and traffic cameras, so don't do anything foolish.
• Payment -  You go to information, get a queue number for payment at wait infront of Office #1/2.  When your number is called you pay up, 205B for car and 155B for motorbike.  Then you go to Office #4/5 to get your picture taken, another 220B in my case.   Wait again and off you go with a smiley face and shiny new Thai Driver's License! 

It is an ASEAN driver's license but some people say it won't be recognized by other ASEAN countries if you are a foreigner, so best to have an international license too.  I drove with my Thai Motorcycle license in Cambodia and Vietnam without a problem, but also never got pulled over by the police.  In fact there weren't any road checks like here in Thailand.

The first time you get a 2 year temporary license (used to be 1 year).  If you have a Tourist Visa or Education Visa you have to renew every 2 years. With a work permit, marriage, or retirement visa you can renew for 5 years.

Overall it's not too bad BUT if you are like me and old a Tourist or Education Visa then repeating the run around (a good couple days for all the paperwork, videos, tests etc) is a pain.  At least now it's every two years!     If you can then pick a cool period of the year or a cool day so you don't have to do this in 40C temperatures!!

If you're a trader like me, you really need to pay attention to the time you spend on paperwork and licenses, I tell you one thing, at 40C temperatures it really drained me and felt like the last two days were an entire week of running around.   But it's over and at least now I can drive through road blocks with a smile and I bet I won't even get asked for my drivers license, funny how that works.

When you're trading you also need to have your paperwork handy for any withdrawals, so be sure to open up a FREE 2GB Dropbox Account to store copies of all your IDs, including your new Thai Driver's License, and bank statement and utility statement copies to verify your trading account and initiate transfers.  More on Dropbox here.

Keeping Your Cellnumber Valid

Here you are in a foreign country and you want to keep your cell number.  After all you have memorized it and given it out to your friends.  Perhaps you have it set up to receive SMS messages with your bank account updates.  What do you do. Can you keep it?  Without paying monthly fees?

Keeping Your AIS Thai Cell Number Valid

I live in Phuket at the moment and plan on traveling more again.  I'm using AIS because IMHO it is the best provider in Thailand, it used to be state owned, and now is privatized.  Their 4G is good and their plans are as low as 299B for Voice, Text, 4G Internet, and Wifi.  That's less than $10 a month. 

Of course you don't want to pay unnecessary monthly fees when you are away. So what do you do?

And how do you keep your phone number valid for the duration of your absence?

• Switch from Post Paid to Pre Paid (from Monthly to Prepaid) -Make sure you do this on your last billing cycle to get optimum benefits of your plan.
• Subscribe to a prepaid plan until you leave Thailand - for just 199B (less than $7) you can get an Internet only plan that allows you to receive voice calls and text messages for FREE.  Any calls you make are only a few baht per minute / text.
• Subscribe to International Roaming - This way you still get SMS text messages.  But careful, if you answer your phone, make calls, or send messages, international roaming fees apply.
• Top up with 20Baht (less than $1) pre-paid credit for every 30 days you will be away - Here is the thing, if you buy a prepaid plan or top up your credits, you only have 30 days validity.  That's no good if you are out of the country.   I talked with AIS Customer Service and they recommended this hack, because you get CONSECUTIVE days of validity for every top up.  So 10 top ups are 300 days.   Best to see them at a store.  If you forgot to do this in the country you can log on to their website and try topping up online. Or have a friend do it for you.

Not with AIS?  Most Thai Cell companies have similar ways to keep your cell number valid.
Not in Thailand?   Just ask your local cell provider what you can do.  Many have similar tricks.

Don't Pack Aspirin

A few days until your trip and you are in panic mode, what should you pack?

You're off to a foreign country and while you decided to pack light, suddenly you are thinking about bringing aspirin, multi-vitamins, sunscreen, boxes of band-aids, disinfectant spray and so on.

 

DON'T

 

All you need to worry about is underwear and socks.  Seriously that is what I found the hardest to find in South East Asia and from talking to other travelers, digital nomads, and expats, they agree that in third world countries those are items hard to find.  Unless you want to wear tighty whities and grandpa socks Made in China that are 100% synthetic and who knows what chemicals they contain.

 

Shoes are another important item.  Especially hiking shoes if you intend to go for a decent hike.  Be sure to break them in.  Sure you can find shoes just about anywhere in the world, but are they going to be a good quality and will they have the style you like in your size?  In South East Asia you just need to walk into a shoe store and they see your size 11s and will quickly wave you off "no have". 

Or you can pay full on regular price for a shoe you can get back home at a discount and really don't like at all.

 

Really all you need is a couple shorts, some shirts, underwear, socks, and shoes.  Everything else you can pretty much grab on the road.  Of course you want to research your destination a little bit to ensure the item you want to buy isn't more expensive and hard to find where you're headed. Like that crazy 30% import tax on foreign made products in Thailand that can go up to 100% for some appliances.

 

You'll also want to check the voltage, and you're better off bringing a NutriBullet if the voltage is compatible.  It doesn't hurt to do a quick google search for <your country name> online shopping <appliance name> to see what prices are like and what's readily available. Like dishwashers and countertop dishwashers in Thailand, forget about it.  Plastic storage containers in Thailand, sure but same price as in Canada.  Unless you want to go down to "Supercheap" and try your luck at one Made in China.

 

The point is, don't pack the Aspirin. In Thailand for example you won't find it at most Drugstores but sure enough every Pharmacy sells them dirt cheap and in strips of 10 so you don't have to lug around an entire bottle.  Not that I'm a fan of Aspirin anyway, although I did once nurse some plants back to health by crumbling some up and spreading it in the soil.

 

 

Oh yeah the one thing I tend to always pack is some Viennese Coffee from my travels to Austria Europe:

 

 

When it comes to trading, the same logic applies.  Don't get every single indicator you can find or someone raves about.  There are so many schmucks trying to flog their dashboards, indicators etc.

Guess what, they all pretty much show you the same thing in a different way.   You'll get by with just a handful.  3 maybe 5 at most.   Pick a few Moving Averages like SMA 50, 200, MACD, Bollinger Bands and you're good to go.  Click here for some more advanced indicators I created.

 

The point is, don't get tempted to over analyze, and keep it simple.   Pack your undies, socks, wear your best all around shoes, buy flip flops at the beach, and bring enough clothes to fit in a bag pack.

Coworking Office Spaces in Thailand

For digital nomads and expats alike, having an office space can be a must to separate work & life or when space is limited at your accommodation.

Office spaces can be rented in Thailand at reasonable rates however with it comes added headaches, drama, and overhead expenses.   Unless you have a business visa & work permit and intend to run a business that's brick & mortar or has several employees, I wouldn't recommend it. And even then...  why run a business in Thailand, but that's another story.

Coworking Office Spaces are open concept workspaces with your typical office equipment.  Wifi, Computer Desks, Office Chairs, lounge areas, a reception, and break room facilities.  Some coworking spaces even offer mail box services.  Really convenient but as always, remember in Thailand you always want to ship with EMS or registered mail and only to secure locations/people.

Simply put, you can work in isolation, focus on your work, away from distractions at your home, and still part take in water cooler talk if you want.

Packages start at only a few dollars per hour and you can purchase different packages like weekly, monthly, or block packages of 10 hours and more.

The best part is that you aren't committed to your typical 1 year lease and ongoing monthly expenses.

Regus is one coworking space I would NOT recommend. They are expensive and remind me of a bank that has so much red tape and bureaucracy that they are more of a hassle than a convenience.

UPDATE:  A new website has emerged that has simplified finding a coworking space!  Shared Desk

Here is a list of coworking spaces in Bangkok thanks to Chris The Freelancer:

I'm planning my next adventure and stumbled upon this awesome coworking website. Appears to be global and UI is similar to your AirBNB type of websites, easy to use. Quite slick!

Bangkok- Hubba - Ekkamai http://hubbathailand.com/
- Pah Creative Space - Ekkamai www.pahspace.com
- The Hive - Phrom Phong http://thehive.co.th/
- One Day Forward - Klong Toei http://www.onedaybkk.com/forward_type_price.html
- Wolf Coworking Space - Silom http://wolfwork.co/
- Launchpad - Silom http://www.launchpad.co.th/
- Draftboard - Chit Lom http://draftboard.co.th/

Here is a list of coworking spaces in the rest of  Thailand thanks to the facebook group Digital Nomads Thailand

Koh Lanta

- Star Work: https://www.facebook.com/StarWorkChiangMai
- Mana: https://www.facebook.com/manaspacechiangmai/
- Pun Space:
     Nimman: https://www.facebook.com/punspace
     Tha Phae Gate: https://www.facebook.com/punspacethaphaegate

Koh Lanta

- Kohub*: https://www.facebook.com/kohuborg

Koh Phangan

- Koh Space: https://www.facebook.com/kohspace/
- BeacHub: https://www.facebook.com/beachub/

Koh Tao

- Tao Hub: https://www.facebook.com/TAOHUB.THAI/

Krabi (Ao Nang)

- Phansa Space:  https://www.facebook.com/phansa.space/

Pattaya

- Anchor Space: https://www.facebook.com/anchorspace

Phuket

- Stash*: https://www.facebook.com/STASHatPhuket
- Hatch: https://www.facebook.com/hatchphuket/

* means it also provides accommodation 

New Perspective

Here I am in Rawai, Phuket Thailand sitting at my house and looking forward to traveling to get away and then I see this video...

 

 

...and I realize, hey I'm living in a pretty cool spot.    Funny how we perceive things that aren't at all what they are.  Like newbie traders that say they are doing well, in the same conversation they tell you they haven't been profitable... ever!

Sometimes you need to step back and take a "bird's eye view" (like in this video) to do a quick audit on yourself and where you are.

Same goes for... you guessed it.... trading....  sometimes you are so caught up in trading that you are losing sight of the bigger picture.   For me it goes back to the days where I made 10% profit consistently.  A DAY!   It started with per month, then per week, then per day.   And then it derailed a little when I got greedy and had 200% days and -50% days..  the rollercoaster that probably all traders go through. 

Until the day I took trading seriously, stopped making greedy and stupid mistakes, set some rules, and followed them.  Trading hasn't been as much fun, but I sure don't miss the rollercoaster of draw dawns.

Grab Taxi and Uber

So last week I was in the Philippines enjoying a vacation from the vacation.  Great place, too bad about the crime, here is a picture of my Hotel Shuttle.

On a serious note, the Philippines is great to get away and enjoy dry air.  It was heaven compared to the humidity in Phuket.  Of course when traveling in South East Asia you never know if your taxi driver is ripping you off or giving you a good deal. Then there is the problem with Taxi drivers having absolutely no clue where they are going, many unable to read a map, or perhaps unwilling.

I tried Uber in Thailand once and the prices quoted there were ridiculous.  More than the tuk tuk mafia!   But then someone in the Philippines recommend Grab Taxi and I have to say I'm impressed.

What is the fuss about Uber and Grab Taxi? 

Well Uber in my opinion is just a headache and they compete with taxi companies.
Grab Taxi on the other hand joint ventures with taxi companies and has a much better interface.

Why you should use Grab Taxi

1. Joint Venture with Taxi Company
2. Choose between Metered Taxi, Sedan, Luxury Vehicle, and SUV
3. Fares are estimated for metered Taxi and fixed price for other vehicle types
4. GPS with Map Locations so you don't even need the address and you can do keyword searches like airport, ferry, mall etc
5. Secure & Safe - License Plates shown with driver info, you can share your trip via email and social media to ensure you arrive safe
6. Receipts - all receipts are emailed to you
7. Drivers have GPS Driver app and know where they are going
8. No fees*
9. *Schedule Rides - i.e. An early morning trip to the airport.  This is the only feature that you are charged a very small fee for.

Even if there is a taxi stand, I still use Grab Taxi.  Why?  Because they know where they are going.  Last regular taxi I took, the driver didn't even know the road he was on, my hotel was just 1km down the street and he wanted me to pull up Google Maps on MY phone.  Put it this way, if a taxi driver is smart enough to cash in on regular fares AND Grab Taxi fares and uses a smartphone for GPS, that's the driver you want..   Thank You Grab Taxi for making my traveling easier.

Visa Rules

When you start traveling more and stay for longer periods of time then you need to start getting familiar with Visa Rules.   I never used to pay much attention to be honest, I have a Canadian Passport and most countries will issue visa on arrival.  Even when I lived and worked in Europe for a couple years I never ran into any issues even though visa rules say I can only spend 6 months out of the year in Europe.  Perhaps having been born in Europe helped and speaking German fluently.  It sure helped when getting pulled over doing 220km/h in a 120km/h zone, but that's another story.

Now that I live in Thailand I have to pay closer attention to Visa Rules.   The Thai Visa Rules just changed and now you can only get 30 days on arrival (via plane) and renew 1 time for another 30 days.  Thereafter you have to leave again and re-enter.   Entry by land can get you less time, 15 days.  And border guards now check for proof of at least 20,000 Baht.

Some other visa options are a work-visa.  No thanks! :)   Retirement visa, age 50 and up.  (Still have a few years to wait on that one) which gives you a 1 year visa that is renewable every year.   Or in my case an education visa which gives you one year and can be renewed once, maybe twice, but you have to leave the country and come back.   Since I want to learn the language and have time on my hands this is what I chose.   Traveling every 60 days and re-entering is another option but to be honest I don't want to go because I have to, but rather travel when I feel like it.  With an education visa (as with work and retirement visas) you can also buy motorbikes, cars, and get Thai driver's licenses).

Lately I have been getting the travel itch again and I'm starting to miss some aspects of Western lifestyle.  So I'm considering going back home to Vienna Austria again for a couple weeks and potentially set up shop for 6 months out of the year.  There or in Malta.   Or perhaps Spain.  Somewhere warm would be nice with European food and culture.  Only downfall is that the food, although very good, isn't as healthy as Thai cuisine, and sure is more expensive to dine out.

Oh one visa I forgot is the family visa, if you are married to a Thai or have Thai children then you also have one year renewable visas without needing to re-enter Thailand.

When it comes to Visa Rules you are best off checking your destinations visa laws if you plan on staying for 30 days or longer.   Some countries like Russia, China, Vietnam, and Cambodia are tougher too and you need all sorts of paperwork.

You have heard of first world country problems.  Well I suppose you can call these Day Trader problems.  I don't know about you but I like to stay in a place for more than a few weeks and set up some sort of a comfortable trading environment.  Budget-wise being able to rent long term has it's benefits too.  1 week in a hotel is the equivalent to 1 month's rent in a house.  So it pays to stay longer.