Thailand's equity session opens at 10:00 with a ten-minute call auction. FX markets are already active, but liquidity on USD/THB and regional pairs shifts noticeably in the minutes before and after the SET bell.
For two years, our entry checklist asked whether "liquidity is adequate" without defining adequate. Alumni feedback was consistent: the question was too vague to be useful on Monday mornings.
What the new checklist item asks
Panel four now includes: Spread at or below your 20-day average for this pair at this time.
You record the current spread and compare it to a simple average you maintain in your journal. If spread is elevated, the item is "no" — regardless of how clean the structure looks on panel one.
Why averages instead of fixed pip limits
Fixed limits fail across instruments. A 2-pip spread on EUR/USD is normal; on an exotics cross it is impossible. Your own 20-day average at the same clock time accounts for your markets and your broker.
SET lunch break interaction
The midday break (12:30–14:00) thins FX liquidity even when equities are closed. Traders who mark setups during lunch should use their lunch-hour average, not the morning open average. We cover this distinction in the Weekly Markup Lab week two session.
Practical preparation
Before your next workshop or clinic, export spread data from your broker for the past 20 sessions at your usual entry time. Bring the average written on a sticky note. It becomes the reference for panel four.
If you do not track spread history yet, start this week — even rough notes in a notebook are better than guessing "normal" on a volatile open.