In May I'll be going to Thailand for about a month and plan on a budget of $1500 CAD/around $50 CAD/day. submitted by
I first thought of bringing $600/700 CAD in cash and then make one ATM withdraw of ~$800 CAD = 20000 baht. The downside to this method is that I will be carrying A LOT of money at once and the ATM withdraw will cost me about $35 CAD with the forex fee, and both Thai and home bank fees.
I've read that most banks in Thailand accept AmEx travellers cheques, so my other method would be $500 CAD cash and two $500 AmEx travellers cheques. This would mean that I won't be carrying as much money at one time and possiblty save on fees, if I understand them correctly..
This brings me to my questions about travellers cheques: - What are the fees involved? Is it only the 153 baht fee, or is there a forex fee charged like ATMs? If the bank charges a commission, does anyone know approximately how much this is. - Are the banks that accept them readily available all over Thailand (outside of Bangkok)? I.e. Chiang Mai, Pai, Khao San National park and the islands. - Will banks even accept them in the $500 CAD denominations?
Any help is greatly appreciated!
Follow up from previous post https://www.reddit.com/Forex/comments/5r0585/the_poster_boy_for_failure_sharing_a_motivational/?utm_content=comments&utm_medium=user&utm_source=reddit&utm_name=frontpage POST from Dopey on ForexFactory:
Quoting Leonlorenzo I gather your In your 40's Dopey. Do you think you would have been able to work it all out when you were In your early 20's? Im considering that I need to grow up a little more, take some time out, put alot more effort In to conventional avenues to further myself.
That's a really tough question to answer. I'm 51 now and when I was in my 20's I would never even have considered doing this.
In your 20's you have more energy and time, yet less maturity and humility. Also, most people don't really know what they want when they're in their 20's, which is not a bad thing at all. It's important to have a wide variety of interests, how else can you know what you want until you've looked at many things?
Intellectually, trading is not very difficult, it just isn't. However, the proper application is extremely hard and anyone interested in it should know all the reasons why. I can tell you that the key for me was developing myself as a person. It almost sounds cliche but it's true (all cliches are based on a truth). I spend more time every day working on myself than I do in trading, yet my trading is better now than ever. I didn't believe it when I first read about it, as most don't. But there are many who try trading and don't succeed and it's not because they can't pass a test on support and resistance line drawing, or how to calculate a 2.75% position size on a $10,000 account. Plain and simple, they lose because they fuck up mentally.
Let me give you some advice on other people. I was 26 when I hitchhiked through Europe for the first time, from London down to the Greek Islands in back in one summer. It was an amazing time for me and I vowed to myself to spend the rest of my life seeing the world.
Everyone in my life, except my mother, told me to get serious and settle down, get a steady job, have a family and be average just like them. This includes two ex-wives. Some how I knew when I was still in my teens that you can't depend on others to map out your life for you and that what they pass off to you as advice that is supposedly in your best interest is the farthest thing from the truth.
As I've stated before, I've met plenty of people who have believed they knew better than me what I should or should not do with my life. As a rule, most are average people who live average lives. They are all still living average lives (which in itself is just fine because it's like street sweepers, if there isn't people who voluntarily do stuff like that, then I might end up being forced to do it, so I do appreciate average people and the role they play in the world).
Now it's 25 years later and I've spent the past 20 years travelling the world. I've been to just about every great and majestic place you've ever seen on tv or in a book. I've done so many things that most people think about their whole life and keep on saying, "I'll do that when I'm retired." I spend my summers (you gotta love teaching in universities...which I specifically chose to do because of the time off...you try going through grad school with that in mind...it's easy) in 3 or more countries. I've spent 13 months in the last 10 years hanging out in Thailand simply because I love the place.
I go home on occasion and I see everyone living their average lives and they don't really want to talk about what I do, where I've been, what I've seen and done to any degree. Mainly because it reminds them that a. they were wrong about me and b. that they're living terminally average, boring lives. So I don't go home much anymore. Meanwhile, I work with over 150 westerners who are just like me in that they chose to not be average and stay put because others told them that it's the best thing for them. So I've got plenty of company, including my third wife who loves our life. And what really burns all their asses is that my wife and I both teach here and our combined salary with all benefits is over 120k per year...and we work 8 months per year.
Sorry for the long reply, but the best advice I can give anyone in their 20's is to follow any dream you have. Understand why people give you the advice they do, it's mainly to serve their interests, not yours. My mother was the only person who truly wanted me to have what I wanted. She supported me 100% in everything I did, no matter what it was. I was lucky to have had her support and her love. After 18 years, I still miss her terribly. Surround yourself with others that are also following their dreams. Don't let anyone tell you what your limitations are or should be. Don't let anyone define you in any shape or form. It doesn't matter what you do with your life, as long as it's what you want to do.
It's your life, live it accordingly.
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