Forex Profit Monster Results for October

First things first before we get to posting the October results. Last month I added an equity graph to the homepage of http://www.forexprofitmonster.com/ to show my progress with the Forex Profit Monster trading system since I stopped testing it and started trading the system in 2007. The updated graph with the October results is below. I'll be posting it here on the blog each month to give a visual aid to show the total pips gained over time. That total as of the end of October 2009 now stands at 42,877 pips.

While I'm introducing the equity graph I'd like to take a minute to address a question I get every once in awhile. Some people ask me why I post the FPM results in pips instead of dollars. Well, that's easy. Pips is the only way to give an accurate representation of how any Forex trading system performs. You can adjust how much risk you're willing to take (and therefore how much money you'll make) and draw your own conclusions.

Forex scammers will try to appeal to your greed by telling you how much money you'll make when you trade their system. They'll cherry pick a good trade that gained a couple of hundred pips and tell you that you "could've made $2,000!!!". What they don't tell you is that you'd have to trade a standard contract and that this is crazy (not to mention pretty much impossible) for a new retail trader to do. If I wanted to operate this way I'd be posting dollar results based on some unrealistic value for most people. Instead of posting a 1,047 pip gain for October I'd tout "FPM generates over $52,000 in profits for the month of October!!!". Now that would be true if you were trading 5 standard contracts and had an account large enough to withstand the small losses until the profits were made. However most people who are attempting to become retail traders are starting with very small accounts and will be trading mini, micro or nano lots... and trying to prey on their hopes of making a lot of money by trading is disgusting and I won't be a party to it.

You also have to learn that different currency pairs have different volatility and you can't trade the same lot size on every pair. This is a key principle in proper money management and until you implement it you will never be consistently profitable if trading pairs with different volatilities. For instance, a single loss on a volatile pair like GBP/JPY can wipe out more than one win on a pair like EUR/USD if you're trading the same lot size on both pairs. This is why learning to manage the money in your account properly is so important and why I wrote an eBook that I include in the Forex Profit Monster (and Forex Day Monster) system to help people learn proper money management.

OK... let's get to the results. Trading is over for October and it was another great month for Forex Profit Monster! I was able to generate 1,047 pips of profit across the 8 currency pairs that I trade on the 4 Hour charts. Here are the details:

26 trades taken

12 wins - 2,717 pips

14 losses - 1,670 pips

Total pips won: 1,047

46% win rate

Avg win - 226 pips
Avg loss - 119 pips

Avg risk/reward ratio - 1.9 to 1

Here are how the 8 pairs performed individually (from best to worst):

EUR/JPY - 1 win, 1 loss: +431 pips
USD/CAD - 2 wins, 1 loss: +416 pips

AUD/USD - 2 wins, 1 loss: +363 pips

USD/CHF - 3 wins, 1 loss: + 52 pips

EUR/USD - 2 wins, 0 losses: + 48 pips

GBP/USD - 1 win, 4 losses: 0 pips

GBP/JPY - 1 win, 3 losses: (-50 pips)

USD/JPY - 0 wins, 3 losses: (-213 pips)

This was a great month, but it was almost better! I was up over 1,600 pips at one point before the Pound decided to become so volatile over the past week of the month. I ended up losing my profits that I was sure I would book on the GBP/JPY and GBP/USD for October in the last few days of the month. That's why you can't count on any money until you exit the trade!

This is an important detail to cover. I've mentioned it before but it's extremely important to reiterate. You have to make trading psychology a high priority if you're going to be a successful trader. You can't get upset when you lose. Sure, it would have been great to close out October with an extra 500 or 600 pips, but if I didn't have the grasp of my emotions like I do I never would have been in the position to make even the 1,047 pips this month! That's why I include this information with Forex Profit Monster (and Forex Day Monster), so new traders and unsuccessful traders can get a handle on how important it is to their success. While I'm only human and wasn't happy about losing those pips, I'm also in control enough to not let it affect my trading.

That's it for October. Let's take a look at how FPM has performed so far this year:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)
September - 1,530 pips
October - 1,047 pips

That's a total of 11,484 pips so far for 2009, an average of 1,148 pips per month.

For more information about Forex Profit Monster (or my day trading system Forex Day Monster), visit my website at http://www.forexprofitmonster.com/. To purchase either system visit my page at eBay at http://myworld.ebay.com/jimsgr8stuff4less/.

Thanks, and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less/

Forex Profit Monster Results September 2009

Here are the results for Forex Profit Monster for September. As expected with the summer vacation season over we saw more trends finally break out. There were a lot of nice trends on the 8 pairs that I trade, and the small drawdown that I entered into earlier in the summer has now been eliminated... and the total pips for the year is at a new high again as this month ended with a profit of 1,530 pips.

Here's the breakdown of September:

32 total trades taken on the 4 Hour chart across 8 currency pairs

18 Wins for a total of 2,546 pips
14 Losses for a total of 1,016 pips

For a total win of 1,530 pips

56% win rate

Average win: 141 pips
Average loss: 72 pips

Average Risk/Reward ratio: 1.95 to 1

Here's how the individual pairs performed (in order of best to worst):

GBP/USD 3 wins, 0 losses: +564
GBP/JPY 3 wins, 1 loss: +542
EUR/USD 2 wins, 0 losses: +401
USD/JPY 3 wins, 1 loss: +167
USD/CHF 1 win, 2 losses: +167
EUR/JPY 3 wins, 2 losses: + 58
AUD/USD 1 win, 4 losses: (-127)
USD/CAD 2 wins, 4 losses: (-242)

Here's where we stand for the year to date at the end of the 3rd quarter:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)
September - 1,530 pips

That brings our grand total for the year to 10,437 pips, which is an average of 1,160 pips per month.

For more information about the Forex Profit Monster trading system (or the Forex Day Monster day trading system) visit my website at http://www.forexprofitmonster.com/. To purchase either system please visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your September was as profitable as mine, and here's to many pips flowing into your account!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less/

Forex Profit Monster Results for August

It's one of my least favorite times of the year... the Labor Day Weekend holiday here in the U.S. Around my house the Labor Day parties are over, friends and family have gone home, and I finally have a few minutes to sit down and post the August results.

The Labor Day Weekend holiday means the unofficial end of summer. I'm a big fan of summer... I especially enjoy the warmer weather and my vacation time at the beach. There is one thing I won't miss about this summer... the doldrums in trading that added to the ranging of almost every currency pair that I trade. The past couple of summers saw some financial crises that caused huge moves in August, but not this year. This has probably been the slowest I've seen the 8 pairs I trade move in the 3 years I've been trading FPM. Is this the calm before the storm? I sure hope so! Not that I'm wishing for more financial problems that helped the slow times the past couple of summers, but I am glad to see us getting back to a "normal" schedule so that there will be less ranging due to vacation time.

Being a trend trader I don't take any time away from trading the 4 Hour charts, so even when I'm away on vacation I'm very diligent about getting to my charts on time to check for my entry and exit signals. I've been very disciplined about my trading in a time when it's been especially hard. During the past 3 months there's only been a couple of weeks where all of the profits have been made... and one of those weeks I was on vacation. I resisted the urge to take a break from my trading during my vacation and boy am I glad! If I had missed that week in July I would've really kicked myself... it was one of only a couple of weeks during a 3 month period where I made decent profits.

This is an important lesson for those of you who are learning to trade or who are struggling and trying to become successful. You can't pick and choose when you're going to trade when you trade a trend following method. You must trade a time frame where you can take every signal. Missing even a single trade can severely diminish your profitability (as evidenced this summer).

I know there have been some nice trends recently on the 1 Hour charts, and we're starting to see those trends move up to the 4 Hour time frame. While I closed the month of August out as a small losing month (-230 pips), in the first few days of September I've closed out a couple of trades that were opened in August on the GBP/JPY and USD/JPY for almost 500 pips combined to start out September.

Here are the results for August:

41 trades taken on the 4 Hour chart
14 wins - 1,838 pips won
27 losses - 2,068 pips lost

(-230 pips) total for the month

34% win rate
Avg win - 131 pips
Avg loss - 76 pips
Avg Risk/Reward - 1.72 to 1

Here's how the 8 pairs that I trade break down for August (in order of best performing pair to worst):

GBP/USD 3 wins, 1 loss - +478 pips
GBP/JPY 1 win, 1 loss - +175 pips
USD/JPY 2 wins, 1 loss - +103 pips
EUR/JPY 2 wins, 3 losses - +44 pips
USD/CAD 2 wins, 3 losses - (-115 pips)
USD/CHF 2 wins, 5 losses - (-238 pips)
AUD/USD 1 win, 6 losses - (-321 pips)
EUR/USD 1 win, 7 losses - (-356 pips)

This is only the second losing month I've personally had with Forex Profit Monster, the last one being September 2007 when I lost 173 pips; and at that time I wasn't being as consistent as I'm being now. I was also trading a lower time frame (1 Hour charts) and not trading all 8 pairs that I'm trading now to help spread my risk (for those wondering I made that switch in the beginning of 2008). So, will it be another 2 years before I see another losing month? Probably not... but let's hope so!

I'm off to a good start in September closing out the winning GBP/JPY trade for 335 pips and a winning USD/JPY trade for 142 pips. Bring on those trends!

Here's how FPM has been performing so far in 2009:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)

Total pips so far in 2009: +8,907 pips (an average of 1,113 pips per month).

For more information about the Forex Profit Monster trading system visit my website at http://www.forexprofitmonster.com/ or to purchase visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less

Thanks for stopping by the blog and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Results for July

The month of July was a breath of fresh air after all of the ranging in June. It may not have been the most profitable month for Forex Profit Monster, but there were some nice trends on the 4 Hour chart and most of the pairs I trade generated at least small profits.

Below is a screen shot of the best performing pair of the month, the USD/CAD. The Loonie has been in a sustained downtrend again for quite some time (except for a brief period where the price of crude was dropping), and the U.S. GDP figures that were just released the other day gave the Canadian Dollar another boost as crude starting climbing again in reaction to the bad U.S. numbers. This USD/CAD short generated over 640 pips of profit for the month:


Here are the overall results for FPM for July on the 8 pairs I trade on the 4 Hour charts:

Total trades taken: 28
Winning trades: 9
Losing trades: 19
Win rate: 32%

Pips won: 2,394
Pips lost: 1,619
Total pips won: 775

Avg win: 266
Avg loss: 85

Avg Risk/Reward ratio 3.12 to 1

Here are how the 8 individual pairs I trade performed (in order of best to worst):

USD/CAD 1 win, 1 loss: +605 pips
GBP/JPY 1 win, 2 losses: +224 pips
EUR/JPY 1 win, 2 losses: +219 pips
AUD/USD 1 win, 1 loss: +149 pips
EUR/USD 2 wins, 2 losses: +136 pips
USD/JPY 1 win, 3 losses: +36 pips
GBP/USD 1 win, 4 losses: (-262) pips
USD/CHF 1 win, 4 losses: (-332) pips

For more information about Forex Profit Monster (and my day trading system Forex Day Monster) visit the website at http://www.forexprofitmonster.com/. To purchase either system visit my eBay page at: http://myworld.ebay.com/jimsgr8stuff4less.

There you go... another profitable month of trading with Forex Profit Monster. I hope you had a good month as well, and here's hoping for some great breakouts in August!

Jim
http://www.forexprofitmonster.com/

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Trading Results for June 2009

Here they are, the results for June. They can be summed up on the blog this way: "The month that was a small winner but on paper was a big loser". The reason for that was me including several large wins that closed out in the beginning of June with the May results.

As I mentioned in the May results post, I was late closing out my May trading logs and decided to include several trades that were opened in May but closed out with over 2,000 pips of profit in the first few days of June to the May results instead of the June results. Usually I include the pips won or lost in the month the trade is closed since the pips/money isn't "real" until the trade is closed, but for the May results I included those trades that closed in June and boy does it make a difference for the results this month. Instead of a month that would have been about a 250 pip winner, I ended up with a 2,022 pip loss on paper. The only decent size wins all happened at the beginning of the month, which left me with a few small wins and a bunch of losing trades the rest of the month as the pairs I trade on the 4 Hour time frame did nothing but range the rest of the month.

Here's how the rest of June fared:

Total trades: 43
Total wins: 8
Total losses: 35

Pips won: 1,083
Pips lost: 3,105
Total pips: (-2,022)

Win rate: 19%

Avg win- 135
Avg loss- 89

And here are the results by each pair that I trade:

GBP/JPY 2 wins, 2 losses - +216 pips
USD/CAD 1 win, 2 losses - +33 pips
USD/JPY 1 win, 3 losses - (-5 pips)
EUR/JPY 1 win, 2 losses - (-74 pips)
AUD/USD 1 win, 5 losses - (-277 pips)
EUR/USD 1 win, 5 losses - (-444 pips)
GBP/USD 1 win, 7 losses - (-595 pips)
USD/CHF 0 wins, 9 losses - (-876 pips)

Well, June brings us to the end of the first half of the year and here are the results so far (monthly results adjusted for the trades that closed in June that were originally included in the May results):

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips

Total for first half of 2009: 8,362 pips

That's an average of 1,393 pips per month so far in 2009.

The other good news is that it looks like the ranging experienced for the past three weeks of June into the beginning of July is finally coming to an end as I currently have several trades open that are moving well into profit, so it looks like I won't be experiencing a repeat performance of most of June!

At the risk of being repetitive I'd like to take a minute to address some issues that I experienced this month as there are new traders coming to this blog all the time and I'm sure most don't take the time to read the posts from beginning to end.

I had a couple of traders who purchased FPM around the beginning of June who contacted me asking about the losses that they were experiencing due to the ranging and what they should do. The answer to this question is simple... nothing other than what you normally do. There are drawdowns in trading. You can't escape them, and if you're trying then you're just chasing that "Holy Grail" again! How large the drawdown is depends upon how much risk you're taking. If you manage your money correctly then your drawdowns with this system should never be overly painful. Even with the amount of losses sustained during the last 3 weeks of June my drawdown never passed the 20% mark, and this was the largest drawdown I've experienced since I've been trading FPM. I've said it before in these posts and I'll say it again... you have to become disciplined as far as trading psychology and money management are concerned. If you choose to ignore these subjects you're going to lose more than necessary during months like June and you won't be around to experience the trends that WILL occur not long after. Trade like a pro, not like a schmo! Wow... I think I may have found a new catch phrase for this blog...

If you'd like more information about the Forex Profit Monster trading system, please visit my website at http://www.forexprofitmonster.com/. To purchase FPM (or my day trading system Forex Day Monster) visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting the FPM blog, and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster May 2009 Results

While these results are for the month of May, there were several trades for over 2,000 pips of profit that were opened during May but closed out during the first few days of June. I include these trades here because I am including them in my trading logs for May and so I'm posting them here. Before you ask, this has nothing to do with making sure May was a profitable month, as you'll see below. Before these trades were added to the closed log, May still showed a profit of over 2,000 pips :-) With these trades that total is now well over 4,000 pips. Here are the details of the results that I achieved on the 4 Hour chart:

Total trades taken: 34
Total wins: 22
Total losses: 12
Win rate: 65%

Total pips won: 5,764
Total pips lost: 995
Total pips profit: 4,769

Average win in pips: 262
Average loss in pips: 83

Risk/Reward ratio: 3.15 to 1

Here are the results for the pairs I traded by currency pair, in order of best to worst:

GBP/USD - 2 wins, 2 losses - + 1,041 pips
GBP/JPY - 2 wins, 1 loss - + 958 pips
USD/CAD - 2 wins, 1 loss - + 930 pips
EUR/USD - 4 wins, 1 loss - + 644 pips
EUR/JPY - 3 wins, 2 losses - + 465 pips
USD/CHF - 4 wins, 1 loss - + 424 pips
AUD/USD - 3 wins, 2 losses - + 303 pips
USD/JPY - 2 wins, 2 losses - + 4 pips

This is a fantastic month for Forex Profit Monster! With the May results that brings the total pips won for the year to 10,384... or 2,077 pips per month on average.

For more information about Forex Profit Monster, or my day trading system Forex Day Monster, visit the website at http://www.forexprofitmonster.com/. To purchase Forex Profit Monster or Forex Day Monster, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting my blog and best of luck to you in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

April 2009 Results for Forex Profit Monster

April was a tough month for trading the 4 Hour charts for me, but still a profitable one. The pairs I trade were almost all stuck in a range for most of April and there were only a couple of good solid trends across the 8 pairs, but it was still enough for me to profit a total of 151 pips for the month. While not the best month, a profit is a profit and I'm not going to complain!

Meanwhile I heard from some traders that were trading FPM on the 1 Hour chart and "cleaning up" with some spectacular moves... I hope to see some of those trends in May as they possibly move up to the 4 Hour chart.

Here's my overall FPM results for April:

Total trades: 34
Winning trades: 12
Losing trades: 22
Win rate: 35%

Pips won: 2,520
Pips lost: 2, 369
Total pips: +151

Avg win: 210 pips
Avg loss: 107 pips
R/R: 1.96 - 1

Here's how the individual pairs I trade performed:

GBP/JPY: +347 pips - 2 wins, 3 losses
USD/JPY: +167 pips - 1 win, 1 loss
EUR/JPY: +148 pips - 2 wins, 3 losses
GBP/USD: +119 pips - 2 wins, 2 losses
USD/CHF: (-24 pips) - 1 win, 3 losses
USD/CAD: (-123 pips) - 1 win, 3 losses
AUD/USD: (-150 pips) - 2 wins, 3 losses
EUR/USD: (-333 pips) - 1 win, 4 losses

Those are the results for April... if you'd like more information about Forex Profit Monster and how it works (or Forex Day Monster my day trading system designed for lower time frames), visit my website at http://www.forexprofitmonster.com/.

For purchase information for Forex Profit Monster or Forex Day Monster visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting my blog and best of luck in your trading!

Jim

http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster March 2009 Results

Time to wrap up another week of trading on the afternoon before NFP is released tomorrow... and instead of knocking off early for the weekend I'm here to post on the blog the FPM results for the month of March.

It was another profitable month for FPM across the 8 currency pairs that I trade on the 4 Hour charts (listed below). I banked +779 pips this month... here are the overall results:

Trades taken: 33
Trades won: 11
Trades lost : 22
Winning percentage: 33%

Before I break down the information for you, now is a good time to stop and point something out to the traders who contact me wanting to know more about the win ratio of the Forex Profit Monster system. If you're going to trade this system as it's designed (as a trend following system) the win ratio of trades is NOT important. The winning percentage has varied anywhere from 25-80% per month... yet almost every month I've traded this system since the spring of 2007 has been profitable for me. That's almost two years! Sure some months I barely eek out a profit and some months are large windfalls (October 2008)... but the point is the win ratio is NOT important. If you continue to focus on the win ratio of a trading system you are focusing on the wrong aspect of the system. There are a lot of trading systems being hawked on the internet with "80-90% win rates". People flock to them thinking they've found an automated cash machine... only to find out that these systems contain ridiculous Risk/Reward ratios like a 10 pip take profit with a 250 pip stop loss. It's not too hard to see what happens here... if this trading system wins 9 out of 10 trades you will quickly lose your shirt. Your profit potential will be 90 pips over 9 wins and your 1 loss may be up to 250 pips! Do you see how ludicrous that is?

The important thing in trading is to keep your losers as small as possible (exit when you get an exit signal) and let your winners run (again... don't exit until you get an exit signal). That is how Forex Profit Monster works... and why it delivers profits as well as it does. Are there losing trades? Sure... in fact this month there were twice as many losers as winners but I still profited 779 pips.

OK... with that out of the way, here are the rest of the results...

Pips won: 3,469
Pips lost: 2,690
Total pips: +779

Average win: 315
Average loss: 122

Average R/R ratio: 2.58 to 1

Here's how each of the 8 currency pairs I trade performed in March (from best to worst):

EUR/USD - 2 wins, 0 losses - +910 pips
GBP/USD - 2 wins, 2 losses - +380 pips
USD/CAD - 2 wins, 1 loss - +381 pips
AUD/USD - 1 win, 3 losses - +211 pips
EUR/JPY - 2 wins, 3 losses - (-37) pips
USD/JPY - 0 wins, 5 losses - (-293) pips
USD/CHF - 0 wins, 4 losses - (-363) pips
GBP/JPY - 2 wins, 4 losses - (-410) pips

That's it for March... here's how FPM has performed so far in 2009 now that we've finished the first quarter:

January - +3,795 pips
February - + 890 pips
March - + 779 pips

Total so far for 2009: +5,464 pips

For more information about the Forex Profit Monster trading system (and the Forex Day Monster day trading system) visit my website at http://www.forexprofitmonster.com/. To purchase either FPM or FDM just click on this link to visit my eBay page http://myworld.ebay.com/jimsgr8stuff4less

I hope your March was profitable and here's to continued success in April!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Trading Results for February 2009

Sorry it's taken so long for me to publish these results, but there never seems to be enough time to sit down and post. I usually take the opportunity on NFP day to update the blog, but needed some down time last Friday so I'm forcing myself to take a little time towards the end of the trading day today to do it. I know it's important for those of you stopping by to get more information before purchasing FPM, so you'll find the results for February below.

Before we get to that though, I do want to take a few minutes to remind anyone who is considering purchasing that this system is NOT the holy grail. Every once in a while I have to bring this subject up again as new crops of unsuccessful and novice traders discover FPM. There's a lot of great feedback and testimonials about this system because when used properly it does work, but one of the problems with the great testimonials is that it gives people new to Forex trading the idea that it doesn't lose. I got an email just today from someone who purchased FPM over the weekend and was a little upset that his first trade was a loser and that he was "lucky" it was a demo trade and not a real trade. After looking at the trade he referenced the first thing I noticed was that it was still an active trade. No exit signal had been generated yet... although the trade was about 160 pips in the negative on a 4 Hour chart. First thing to grasp here if you're new to trading... if you're not willing to take a 160 pip loss on a 4 Hour chart then you're not ready to trade with real money. 160 pips is not a large loss on this time frame, no matter which pair you're trading. Oh, and I should mention this too... according to the system rules the trade hadn't generated an exit signal yet, so that means this trader bailed out of fear. Even if the trader ends up losing less on this trade by exiting early (if it does end up being a loser) he can still consider this trade a BIG loser because he didn't stick to the plan and follow the rules. I can't emphasize enough how important this is. This is still an active trade according to the system rules and there is a chance that it could be a winner (or at least a smaller loser).

Here's an example of why you don't want to do this from Febuary's results. The EUR/JPY pair had 3 losing trades and only 1 winning trade on the 4 Hour chart in February. Thats a 25% win rate. Pretty bad, right? How can you make money that way? Easy... as mentioned before this is a trend following system. Most of your winning trades will be much bigger than your losing trades... usually enough to cover your losses and still show a profit; and that's what happened in this example. The 3 losing trades came first, all in a row (this is important). The winning trade came last. The losing trades lost 18 pips, 186 pips, and 136 pips. The winning trade won 629 pips. If you had bailed out of trading this pair because of fear after the first loss (or first two losses, or first three losses...) do you see how you lose? By following the plan and accepting your losses you would have gained 289 pips on these trades instead of losing 18, 204, or 337 pips depending on where you bailed out of fear.

As a new trader you MUST understand the effects of trading psychology before you can be successful. If you insist on making discretionary decisions based on your fear of losing you will NEVER win. That's why I include information in my trading systems about this. It's also why I continue to post my monthly FPM results on this blog. You can see that there are losing trades and you can see that most months there are some currency pairs that lose... but by trading several pairs and following the system rules I've been able to generate a profit almost every single month with FPM since the spring of 2007. It's not a fluke... if you take the time to be realistic and learn to trade properly you can take profit from the Forex! Please do yourself a favor and (if you haven't done so already) and stop chasing the "holy grail" of Forex... take the time to learn to trade FPM properly (with the trading psychology and proper money management as taught) and you can be a success in the long run!

Now on to February's results for FPM... here's how the 8 pairs I traded fared:

41 trades taken total on the 4 Hour charts

16 winners for 3,523 pips
25 losers for 2,633 pips

Total pips won - +890

39% win rate

Avg win - 220
Avg loss - 105

Avg risk/reward ratio 2.1 to 1


Here's how the individual pairs fared in order of best to worst:

GBP/JPY - 2 wins, 1 loss - +885
USD/JPY - 3 wins, 2 losses - +423
GBP/USD - 2 wins, 2 losses - +366
EUR/JPY - 1 win, 3 losses - +289
AUD/USD - 1 win, 4 losses - (-186)
EUR/USD - 2 wins, 3 losses - (-163)
USD/CHF - 3 wins, 4 losses - (-237)
USD/CAD - 2 wins, 6 losses - (-487)

Total pips won - +890


So there you go... another profitable month for Forex Profit Monster.

For more information about FPM visit my website... http://www.forexprofitmonster.com/

To go directly to my eBay page for purchase, click here:

http://myworld.ebay.com/jimsgr8stuff4less

Best of luck in your trading!

Jim
http://www.forexprofitmonster.com/

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster January 2009 Results

Time to take a few minutes and post the results for Forex Profit Monster for the month of January. It was another great month with a total win of 3,795 pips and all of the pairs I'm trading generating a profit. Here's the breakdown from trading the 4 Hour time frame:

36 trades... 24 wins and 12 losses for a winning percentage of 66%

5,393 pips won and 1,598 pips lost for a profit of 3,795 pips

Average win - 225 pips... average loss - 133 pips for a Risk/Reward ratio of 1.7 to 1

Here's the profit generated by each of the pairs:

EUR/JPY 2 wins, 3 losses - +670 pips
GBP/USD 2 wins, 2 losses - +578 pips
GBP/JPY 3 wins, 2 losses - +561 pips
USD/CAD 3 wins, 0 losses - +550 pips
AUD/USD 4 wins, 1 loss - +550 pips
EUR/USD 4 wins, 1 loss - +469 pips
USD/CHF 3 wins, 1 loss - +217 pips
USD/JPY 3 wins, 2 losses - +200 pips

For more information about the Forex Profit Monster trading system, please visit my website at www.forexprofitmonster.com. To purchase Forex Profit Monster go to www.ebay.com and do a search for "Forex Profit Monster".

Best of luck in your trading...

Jim
www.forexprofitmonster.com

Forex Profit Monster December Results; Year End Results

Today it's time to sit down to post my results for Forex Profit Monster for December and the year 2008! The results are great on both counts, so let's get right to it...

For the month of December I took 19 trades across 8 currency pairs on the 4 Hour charts. Here's how they broke down:

EUR/USD - 2 trades... 1 win, 1 loss - +1012

USD/CHF - 3 trades... 1 win, 2 losses - +650

USD/JPY - 2 trades... 2 wins, 0 losses - +493

GBP/USD - 3 trades... 2 wins, 1 loss - +152

USD/CAD - 2 trades... 2 wins, 0 losses - +366

AUD/USD - 2 trades... 1 win, 1 loss - +172

EUR/JPY - 2 trades... 2 wins, 0 losses - +727

GBP/JPY - 3 trades... 2 wins, 1 loss - +62

Totals:

19 trades... 13 wins, 6 losses - 68.4% winning percentage

Total pips won - 4541

Total pips lost - 907

Average win - 349 pips

Average loss - 151 pips

RR ratio - 2.3 to 1

Grand total for December: + 3,634 pips


A great December to end a great trading year for 2008. Here's the monthly totals for 2008:

January + 1462
Februaray +694
March +2122
April +570
May +879
June +617
July +1956
August +4825
September +615
October +11,546
November +95
December +3634

That's a total of 29,015 pips across 8 pairs in the year 2008; an average of 2,417 pips per month!

Without going into great detail about my personal information, I will tell you that this translates into over a 300% account increase for the year 2008.

I hope your trading fared as well for December and all of 2008... here's to many pips flowing into your account!

For more information about the Forex Profit Monster system (and Forex Day Monster day trading system), visit my website at http://www.forexprofitmonster.com/.

Jim
http://www.forexprofitmonster.com/

November Results

After such an incredible October with Forex Profit Monster generating over 11,500 pips, I wasn't exactly sure what to expect for November, although if I had to make an educated guess I would have had to say expect some ranging as price settled down from the large moves in October on the 4 Hour charts. It turns out that in general that's what happened, but not across every pair. The system managed to generate a small profit of 95 pips for the month of November across the 8 pairs traded. While that sounds like a bad month, remember... any profit is a good profit... and the fact that the system didn't go into a drawdown after the huge profits from last month is an excellent indicator of the resiliency of the Forex Profit Monster trading system.

Here's a breakdown of how the 8 pairs I traded fared in November:

GBP/JPY +871
GBP/USD +627
USD/CHF +246
AUD/USD +151
USD/CAD +134
USD/JPY -372
EUR/USD -642
EUR/JPY -920

Total for November - +95 pips

While this doesn't seem like the best month, there are a couple of things to consider. Besides the fact that I was able to generate a small profit instead of take a loss for the month, there are also a couple of trades still open that are well into profit and will add to the December profits... one on the USD/JPY for over 200 pips and one on the EUR/JPY that is over 400 pips in profit. I didn't factor these trades taken in November into the results as they are still open and the profits haven't been realized yet.

Also, I was able to reduce my risk and offset some of the FPM losses in November by day trading with Forex Day Monster. Many times I've mentioned how I can "spread my risk" by trading a long term system (FPM) and a short term system (FDM)... and this is what I mean; while the EUR/USD lost 642 pips in November with Forex Profit Monster, I was able to GAIN 1,219 pips day trading the same pair. How does that happen? Easy... by day trading the EUR/USD on the 15 minute chart, I was able to catch the trends on that time frame that were the "tight range" on the 4 Hour time frame. So while FPM got whipsawed on the EUR/USD 4 Hour chart while it ranged after the huge October move, FDM caught the "mini-trends" on the 15 minute chart. Here's the breakdown of how FDM performed on the EUR/USD in November:

Total trades: 31
Winning trades: 15 - 1,667 pips
Losing trades: 16 - 448 pips
Total pips won: 1,219
Winning percentage: 48%
Average win: 111 pips
Average loss: 28 pips
Risk/Reward: 3.96 to 1

So you can see that by trading both systems I was able to turn a 642 pip loss on the EUR/USD into a 577 pip profit by spreading my risk trading both systems on different time frames.

So there are the November results... a small overall gain for FPM that was increased by also trading FDM... plus over 600 pips of profit still open toward December on the 4 Hour charts.

Next month after the December results are in I will post the year end results for Forex Profit Monster.

If you'd like more information about Forex Profit Monster or Forex Day Monster, visit my website at http://www.forexprofitmonster.com/.

Best of luck in your trading and may many pips flow into your trading account!

Jim
http://www.forexprofitmonster.com/

Follow Up To Yesterday's Forex Day Monster Trades

I'm back again to follow up on the posts from yesterday; especially the USD/JPY because it was the only pair that didn't perform well yesterday but according to the support and resistance levels on the charts was setting up for a breakout. Well, today that breakout occured:

The first two Entry Alert arrows in the above chart were filtered out because the indicators never completely lined up. The 3rd Alert was taken for a successful 220 pip winning trade.

Here's another great move today on the GBP/USD:


A stellar example of how lucrative day trading can be! 439 pips on one pair in one trading session! Again, you can't expect results like this every day and your results can vary depending upon which time frames you choose to trade, but the potential is there for you.

I also profited 65 more pips on the USD/CHF today and lost 20 pips on the EUR/USD as it didn't make a similar move to the GBP/USD but instead traded in a tight range after yesterday's large move.

Today I booked another 704 pips of profit trading the major pairs. Add that to yesterday's 405 pips and that's 1,109 pips across two days of trading four currency pairs during the London/New York Forex sessions.

For more information about the Forex Day Monster trading system (or the original Forex Profit Monster trading system) visit my website at www.forexprofitmonster.com.

Thanks for visiting and best of luck in your trading!

Jim
www.forexprofitmonster.com

Forex Day Monster Trading System Results

As promised in my last post about the amazing month of October for Forex Profit Monster generating over 11,000 pips, I'm here to post about my day earlier today with Forex Day Monster. I took some time at the end of my trading session today to save some screenshots of charts and then started working a little early tonight so that I could post this blog entry. For those of you who are unaware, I trade Forex Day Monster exclusively during the London and New York session on 15 minute charts. I also only trade it on the major pairs as while developing this Forex day trading system I found they were the only pairs with the best combination of volume, volatility and stability to be consistently profitable. Not to mention that the majors have the lowest broker spread (no matter who your broker is) and you don't end up giving back your profits in the form of the spread.

Below is the first chart on my series of trades on the EUR/USD:

As you can see trading the Euro Dollar on Tuesday was extremely profitable with FDM as I gained 174 pips on this pair alone. Next up is the GBP/USD:

This series of trades produced two winning trades for a total of 127 pips... the first one for 25 pips and the second trade for 102 pips. I chose to close out the second trade at the end of my trading session.

Here's what happened with the USD/CHF:

Swissy generated a total of 115 pips for me across two trades!

And here's what happened with the USD/JPY:

As you can see, the USD/JPY was not profitable for me this time around as I lost 11 pips across two trades. Unfortunately this pair has been ranging A LOT lately with the US Dollar and the Japanese Yen both becoming stronger. It's a tough pair to trade, but being a trend trader I always try to catch every signal I can as I don't want to miss the breakout that may be the next big move!

So a great day for Tuesday... 405 pips of profit. Once again I mention that this is not a typical day... you will get a day like this once, maybe twice a week... and you may not get winners quite this large. I tell you this so that you don't get your expectations up too much... you can and will experience days like this but you have to be patient. You could spend a few sessions breaking even or with small winners or losers until you catch these large moves. The important thing is not only to follow the system rules as laid out in the User Guide/Trading Plan, but also to follow the money management and trading psychology that is included in the system.

For more information about the Forex Day Monster system, visit my website at http://www.forexprofitmonster.com/ and click the "Forex Day Monster" tab at the top of the page. And if you are brand new to Forex trading and want to learn to trade Forex, then before attempting to trade with Forex Day Monster you should learn by using the original Forex Profit Monster trading system.

To purchase either system go to http://www.ebay.com/ and do a search for the system you're looking for... "Forex Profit Monster" or "Forex Day Monster".

Thanks for checking out this Forex Day Monster update and best of luck in your trading!

Jim

http://www.forexprofitmonster.com/

October Results; What A Month... How About That Dollar???

I'm not trading today due to U.S. Non-Farm Payroll, so I decided to take some time to post the numbers that I "crunched" from my trading with Forex Profit Monster for the month of October.

October was another "record breaking" month for FPM. With the U.S. Dollar finding strength amongst the souring global economy it's a great time to be trading Forex with Forex Profit Monster! While I'm sure a lot of systems had a good month in October, I was able to pull over 11,000 pips of profit out of the market with FPM! 11,546 on the 4 Hour chart across 8 different pairs to be exact... that's the best month ever for FPM. While I don't expect this kind of result every month (or even every few months) it does go to show how resilient this system is. It seems I'm able to "eek out" several hundred pips on average every month and have only had ONE losing month in over a year now (and that was less than 200 pips). Below are two charts of the USD/CAD for October and the trades that I took:

Of course the USD/CAD had a great month because of the price of oil tumbling... so it was a pretty easy pair to make money on in October. The USD/CAD generated over 2,000 pips of profit all by itself in October. It was one of the best performing pairs of the month, but it wasn't the best; that distinction went to the GBP/JPY. As the Pound plummeted the Pound/Yen cross generated over 2,700 pips of profit in October across 4 trades.

I'm often asked to post more information regarding the results of FPM, so here's the breakdown of what happened in October:

I took a total of 28 trades across 8 pairs. The pairs (in order of profit) were:

GBP/JPY (+2769), USD/CAD (+2036), EUR/JPY (+1,932), GBP/USD (+1,631), AUD/USD (+1,115), EUR/USD (+895), USD/JPY (+786), USD/CHF (+402).

You know it's a good month of trading when your worst pair profited over 400 pips :-)

Out of the 28 trades, there were 16 winners and 12 losers for a winning percentage of 57%. The total win in pips was 14,497 and the total loss in pips was 2,951. The average winning trade was 906 pips while the average losing trade was 246 pips. That's an average Risk/Reward ratio of 3.68 to 1.

All in all a spectacular month for Forex Profit Monster!

For those who are interested in the Forex Day Monster day trading system, it has been performing well. It's hard for me to post charts for this system because of the way the FDM Oscillators work. The FDM Oscillators operate on higher time frames than the chart being viewed and therefore they can't be back tested and I have to post results in almost "real time" before the data changes over time. (I want to point out here for those of you wondering... no, these indicators are NOT "re-painting"... they are operating on different time frames and therefore don't line up properly further back on the chart like they do on the current candlestick... there's a difference, trust me!) I also don't trade this system every day... it depends upon fundamental news releases and my personal schedule. However I understand the need for more information and will try to find more time to post trade results for this system too.

For those who aren't familiar with FDM, I only recommend trading this system on the "majors" (EUR/USD, GBP/USD, USD/JPY and USD/CHF) during the European and NY sessions on a 15 minute chart. Forex Day Monster can also be traded on 5 min, 30 min and 1 Hour charts, but I prefer the 15 min chart. While technically it can be traded on any currency pair, I've found through testing that the major pairs have the best combination of volume, volatility and stability (not to mention the best spreads which is important in day trading).

Forex Day Monster is also a trend following system like Forex Profit Monster, but is designed to operate better on the lower time frames. You will get similar results to FPM in your trading... about a 40-60% win ratio, but your winning trades will be much larger than your losers (again, a 2-1 or 3-1 risk/reward ratio... sometimes as large as 10-1 during the REALLY big moves).

For more information regarding the longer term system (Forex Profit Monster) or the day trading system (Forex Day Monster) visit my website at http://www.forexprofitmonster.com/.

Thanks for visiting the FPM blog and best of luck in your trading!

Jim

http://www.forexprofitmonster.com/

September Results

Finally found the time to drop by the blog to update the results for the month of September. After such a huge August (4800+ pips) September was bound to be more of a ranging month as price settled down from those massive moves on almost every pair. We did see a lot of ranging in September, but there were some decent moves too. In fact, if it wasn't for the USD/JPY being in such a tight range and giving us several false breakouts on the 4 Hour chart, I would have had a pretty good month again... but with the losses sustained across this pair it brought my FPM profits for the month to a still very respectable 615 pips.

The end of September saw some good moves setting up again across most pairs as many worldwide are fleeing back to the U.S. Dollar from the Euro and other currencies. Even with all of the credit and banking turmoil in the U.S., it seems the dollar is still the currency everyone runs to when times are unstable worldwide. FPM has caught some incredible trends again... here's a couple charts of trades that were taken to end September and will be helping me to achieve some stellar profits again for October:



The above chart of the EUR/USD on the 4 Hour chart shows a trade that has already been closed and the profits booked. The total win on this trade was 648 pips!

Next is a 4 Hour chart of the GBP/JPY:

This trade is still open and currently over 17oo pips in profit!

Here's the GBP/USD:

This trade on the cable is also still open and over 700 pips in profit.

The USD/CHF:

This trade was also closed out for a 371 pip profit!

And here's a chart of the USD/JPY... the pair that gave us the most ranging in September. It finally had a breakout and is currently over 450 pips in profit!

That gives me two trades already closed and booked for October (on the EUR/USD and USD/CHF) for a profit of 1,019 pips... plus over another 2,870 pips of profit not booked in the above charts! I also have open trades on the USD/CAD and a couple of other pairs that are also in profit. It looks like October will be another HUGE month for FPM!

For more information about the Forex Profit Monster trading system, visit my website at http://www.forexprofitmonster.com/.

To purchase Forex Profit Monster go to http://www.ebay.com/ and do a search for "Forex Profit Monster". Or to see both the FPM system and the daytrading Forex Day Monster system just search "Forex Monster".

Thanks for stopping by and best of luck in your trading!!!

Jim

http://www.forexprofitmonster.com/

The August Results

Hi... back again to post the results for FPM for the month of August. As mentioned in the previous post I had managed to open some very profitable trades in late July and early August on the 4 Hour charts on several pairs, including EUR/USD, GBP/USD, USD/CHF, USD/JPY, EUR/JPY, USD/CAD and AUD/USD. The month of August was the best month ever for FPM as it was one of the best trending months for the past year. I was able to book over 4800 pips of profit across these trades!

While on the subject of what a great month August was I'd like to address an email I received recently (among some other issues). It seems as the success of my trading systems continue I am getting more and more people MAD AT ME for being successful!!! I actually had a person email me and tell me that the only reason my systems have been successful is because the past couple of months have been good trending months. DUH... really? Do you think so? Do you think a trend following system is performing well because the trends have been good??? I'm sorry... excuse the sarcasm, but I get tired of the "naysayers" who like to contact me to tell me why my systems won't continue to work over the long run. First of all, it's been more than two months... FPM has proven itself to me for well over a year now. Almost two years if you count the time I spent developing, building and testing the system. Most of the traders throwing these accusations around haven't even been trading for that much time! FDM also continues to work well... I've been bringing in anywhere from 100-300 pips per week day trading the major pairs. Those of you who keep sitting around waiting for my systems to crash and burn can do it all you want, but please stop contacting me... I'm not looking to fight with you and I will delete your email without answering it. I will continue to use FPM to book good averaged profits almost each and every month. At last tally that average is growing steadily and is now over 1,000 pips per month after factoring in the incredible August that just passed.

Again, I have been upfront about what to expect from my trading systems... they are not the holy grail. They will have losses. But they are designed to accumulate more pips than they lose over time using simple trend following theories that have been proven to work. They are the "real deal"... the types of systems REAL traders use to bring in profits trading the Forex.

I would also like to take the time to address those who insist on asking me for detailed trade results over extended periods of time before they purchase my systems. I understand you being cautious... you want an iron clad guarantee that the system will make you money. But you must understand that first of all, I've already been posting on this blog for almost a year now providing you with information on over a year's worth of my personal results. Second of all, I can not and will not compile my personal information because you are hesitant to spend $50 or $80 (I am not asking you to spend thousands of dollars here and I am providing you with lifetime support!!!). I also can't guarantee even with my profitable systems that you will follow the rules and end up with the same results as me! That's another email I get every once in awhile... someone writing me back telling me how to change the system to make it better. If you want to make changes to the trading plan, that's up to you... but I suggest you follow the rules as they are laid out for you. Most of the people who want to tweak the system are unknowingly taking on too much risk with the changes they are making. Everything in my systems, from the entry and exit signals to the money management and trading psychology has been laid out for you and has proven to be successful for me, so why change it? If you insist on "tweaking" the systems then I would suggest studying and learning how to build your own trading system that performs better than FPM or FDM over time and then come back and show it to me. Maybe I'd like to buy it for $50 or $80! (Although unlike me I doubt you'd sell it for that much... you'd probably want to charge me hundreds or thousands of dollars LOL).

Finally, one more thing that may help those of you who are looking for some way to judge me and my trading systems. As you know I sell my systems on eBay. Since I've been selling them on eBay (almost a year now) I see system sellers come and system sellers go. Most of them grab some money from people with their wild claims of 100% weekly or monthly returns, and then in a month or two when their systems are found out to be frauds, they stop selling and delete their eBay account... having in effect "stolen" a lot of money from a lot of wide eyed gullible people. I, on the other hand, am one of only two or three sellers on all of eBay who has managed to attain Power Seller status and keep it by selling ONLY my 2 Forex systems. The feedback I've received from my buyers has also been great. Almost every single one is thrilled with the value of what they purchased... and many who purchase one of my systems come back and purchase the other one too. I will also tell you that a lot of the people who purchase my trading systems contact me to tell me that they make their money back on their very first trade or series of trades. If that's not enough for you to trust me enough to spend $50 or $80, then I don't know what else to tell you! You're looking for that iron clad guarantee that I can't give you. (Please remember this before asking me to spend a lot of time compiling months and months worth of my detailed personal trading information!)

I'm sorry for the "rant" that this post turned into. I almost deleted the last few paragraphs I wrote before posting this blog entry because I don't want to offend anyone, but hopefully it will help some people understand how frustrating their demands can be. I don't mind answering questions about the trading systems if you have them before you decide if you want to buy, but there's a difference between asking some questions and demanding certain information before you decide to even think about purchasing! (For those who are unsure of the difference, I can answer questions in the reasonable amount of time it takes me to type the answers to you and possibly attach a chart or other picture to the email. If I have to start breaking out a calculator and my last "X" months of trading logs then you're being unreasonable!) People can be very unreasonable... and since I'm not making my living by selling my systems I sometimes contemplate NOT selling them anymore. But I will admit I do like the small extra income (pocket money if you will) and even more so I like helping traders who are just starting out (or who have been around for a little while but have always struggled) by offering systems that can and will teach them to be profitable traders.

Anyway... now that all of that is off my chest, I hope your August was as profitable as mine and here's to a profitable September too!

Jim
http://www.forexprofitmonster.com

July Results for FPM and update on FDM

Time for the "monthly" update on FPM and also on the new FDM system. As I've mentioned before for those of you who ask why I don't update this blog more often... it's become a monthly post because I don't have enough time to devote to trading and taking care of my FPM and FDM customers plus do daily or even weekly updates here. But I try to keep some fresh posts and information for those of you who are considering buying and using my systems.

For the month of July FPM posted some more above average gains. I traded mainly 4 Hour charts and ended up with 1,956 pips of profit for July. This includes about 1,000 pips that were closed out this month from trades that were opened in June. This doesn't count a couple of trades that I just opened recently including this one from last week on the GBP/USD on the 4 Hour time frame that is still open:

As you can see, this trade is still open and currently 231 pips in profit. I will close out this trade when I get a signal and book the profits for the month of August.

For those of you who haven't heard... my new day trading system "Forex Day Monster" which was designed using the same theory and principles that I used to design Forex Profit Monster is now available. (A big thank you to all of the current FPM users who have already purchased FDM to use as a short term system to compliment FPM.) It's in response to all of the short term traders who asked me to design a system similar to FPM but in which they could close out trades in a single trading session most of the time.

FDM has been performing VERY well so far. In fact I'd have to say that I find it just as profitable as FPM on short time frames (I prefer to trade 15 min charts). In fact today was a great day as I caught moves of 80-100 pips on the USD/CHF, EUR/USD, USD/JPY and GBP/USD. Here's a chart of the GBP/USD trade:

Now you won't catch moves like this every day... more like once a week. But even the "smaller" wins on the major pairs will range between 20-80 pips while your losers will usually be 10-30 pips. I personally have been averaging 200-300 pips per week so far using FDM on 4 or 5 pairs during the European and NY session. (However I can't guarantee you'll be able to duplicate my results exactly due to the effect of trading psychology).

For those of you who email me to ask what the difference is between FPM and FDM... it's simple. FPM is designed for higher time frames like 1 Hour, 4 Hour, Daily and Weekly charts. FDM is designed for day trading small time frames like 5 min, 15 min, and 30 min charts. I choose to use both to spread my risk and at the same time pull even more pips out of the market!

If you want more information on Forex Profit Monster or Forex Day Monster just go to my website at http://www.forexprofitmonster.com/.

To purchase FPM or FDM (or both) just go to eBay and do a search for "Forex Profit Monster" or "Forex Day Monster". Or to see both in the same search just search for "Forex Monster".

Best of luck in your trading!

Jim

http://www.forexprofitmonster.com/

June Results for Forex Profit Monster

Well here it is... hard to believe June is over already. We're entering the "summer doldrums" of trading, but it seems June has once again been an above average month for FPM. While I've only "booked" 617 pips of profit for the month of June, there are still 5 trades open that are well into profit. Here are charts of two of them:

The above is the GBP/USD on the 4 hour time frame. The trade was entered at 1.9605 when the FPM indicators lined up. This trade is still open and is currently 341 pips in profit.

The next trade in the chart below is the EUR/USD... also on the 4 hour time frame. This trade was entered at 1.5570 and is also still open and 215 pips in profit.

There are three other trades still open from June on the 4 hour charts... one on the AUD/USD that is up 140 pips... the USD/JPY currently with 100 pips of profit... and the USD/CHF currently up 190 pips.

If I closed all of the open trades right now I would end the month with 1,603 pips instead of 617... but I'll leave them open and wait for the system to give me an exit signal.

So there are the results for June... once again FPM has generated over 600 pips of profit for the month... plus I've got a big head start for July with all of the trades that are still open and well into profit!

Don't forget that this Friday is the 4th of July in the U.S., so not only will the market volume be down during the NY session, but the Non-Farm Payroll report due out on Friday will be released early on Thursday this week! Don't get caught off guard trading on Thursday as that report will cause low volumes before it is released followed by extremely high volatility during/after the release!

For more information about FPM and how it works, visit the website at http://www.forexprofitmonster.com/.

Best of luck in your trading and may many pips flow into your account!

Jim

http://www.forexprofitmonster.com/

First Post of FDM System

After months of developing, backtesting and forward testing the often mentioned "Forex Day Monster" system, I'm posting the first chart of a trade I took using FDM the other day. For those of you unfamiliar with my concept for this system, it came out of many traders who asked me about using Forex Profit Monster on low time frames like 5 and 15 minute charts. I developed the original Forex Profit Monster system to trade on higher time frames (1 Hour and above) and it is quite successful at that, but it was never really designed to handle the fast cycles and "noise" that you find on the lower time frames. The requests from those short term traders did however give me the idea to put the same principles to use in a new system designed for short term daytrading and that's how Forex Day Monster came to be. After developing some new proprietary indicators and using them in conjunction with some of the Forex Profit Monster indicators, here's the new system:

As you can see it looks similar to FPM, but FDM is made for daytrading. I've gone through several versions of this system already... and truth be told it looks NOTHING like the original version, but I am very happy with the way it works. It's designed to be used on the 15 and 30 minute charts and can be used on any pair, although I've found it works best on the majors because they have the best combination of volume, volatility and stability. The trade above was taken just the other day on the USD/CHF and is a good example of a trade you may find once or twice a week on a pair. The other trades you may get may give you smaller wins of 10-50 pips closing at support/resistance. Losers are usually 10-30 pips and are on average about 2.5 to 3 times smaller than winners, giving you an excellent risk/reward ratio. I've been backtesting and forward testing this system the most on the EUR/USD as it offers the smallest spread along with the volume, volatility and stability mentioned above which is extremely important when you are daytrading. Also, this system because it is a daytrading system relies heavily upon time of day. I only trade this system from well after the Tokyo open until the New York close... in other words mostly during the European session.

I'm very excited at the possibilities of combining the Forex Profit Monster system for my long term trading and the new Forex Day Monster for short term day trading!

For those interested in the FDM daytrading system, it should be available for sale within the next week or so... keep checking this blog! For those of you who haven't used the Forex Profit Monster system, I recommend you try this system first... you'll find more information about it on the website... www.forexprofitmonster.com.

Best of luck in your trading...

Jim

May Ends Up Being An Above Average Month

Final results are in for the month of May and I've finished with 879 pips of profit for the month. This is great news considering the average return has been between 650-700 pips a month and I've been trading a little less because of the demands of other projects (including developing the new short term "Forex Day Monster" system).

Speaking of that system I continue to get emails from people interested in purchasing it. I feel that after several months of conceiving, developing and testing this system it is about ready to be made available for others to use. I've ended up reducing the number of indicators that were originally to be used in this system without affecting the performance. This will make it almost as easy to use as Forex Profit Monster... although I would still recommend having some trading experience since this is a short term system and Forex is such a fast moving market. I've had very good success "scalping" 10 - 20 pip moves on the 5, 15 and 30 minute charts (I prefer the 15 and 30 minute charts) and have also done well using support and resistance and indicator based exit strategies to grab 30 - 100 pip moves. Now I have to write an instruction manual and finish cleaning up the code for the indicators and templates.

A lot of work has gone into this system... even though it's based on the same principles as Forex Profit Monster, I have developed two more proprietary indicators for Forex Day Monster. One of these indicators is called "Buy Sell Pressure" and is an excellent entry and exit tool on its own, but when used in conjunction with the other FDM indicators it does a great job of keeping losers small and letting winners run while still closing out trades in a single day. Even though I'm not the biggest fan of "daytrading" (I've always found that longer term trading generates the best profits by keeping your broker's fees low), I can see some real potential to being able to generate some stable weekly profits using this system. Trading at high volume times for a currency pair will usually only generate 1-3 signals a day... so you still won't be "overtrading" and giving your profits back to the broker in the form of the spread. While not every day (or week) has been profitable using FDM, the system does show a positive expectancy over time. It's hard for me to give exact win ratios as I've been testing different exit strategies, but my trading logs currently show the system generating a 50-67% win rate. The rate varies depending upon the exit strategy. This along with winning trades being bigger than losing trades provides excellent long term potential for day trading with Forex Day Monster!

Well, back to work... I need to start working on the User Guide/Installation Manual and cleaning up the code for the finalized versions of the new indicators. If you're interested in this system please send me an email to info@forexprofitmonster.com or just keep an eye on this blog for information on when it will be available to the public. I'll post some screen shots of this system once the final version is ready.

Thanks for reading... and may many pips flow into your account!!!

Jim

Yes I Know... I Haven't Been Posting

I've received some emails recently asking about why I've "abandoned" this blog and haven't been updating. Most of these people are considering purchasing FPM and are concerned that perhaps the system has crashed and isn't working anymore. No, nothing could be farther from the truth. Personally I continue to average well over 600 pips per month, having closed out March with 2,122 pips and April with 570 pips. Unlike other Forex systems FPM is based on price action and momentum and therefore can be used on any pair and virtually any time frame profitably. It's not a system of patterns that only works on certain pairs in certain conditions... those are the types of systems that work fine for a little while and then the market changes a little and all of a sudden the system doesn't work anymore. FPM is not a system like that... it's a mathematically designed system that follows price action and it is designed to adjust to market conditions. It may become less profitable for periods of time according to the market's actions (yes, you may have losing days, weeks or even an occassional losing month [I've personally had ONE losing month], but it will never become obsolete).

The reason I haven't been posting as often is I like to be able to post marked up charts to illustrate some of the trades I've taken. While this doesn't take a lot of time, it is low on my priority list and I've been so busy between personally trading FPM and providing support to my current customers that I already had very little time to devote to updating the blog. And lately I've been even busier forward testing the new short term system that I've mentioned in earlier posts in this blog. This system is almost impossible to backtest and therefore needs even more extensive forward testing which is very time consuming.

So there's your answer... yes, FPM is still working fine. And for those of you who are interested in a short term system to complement the long term system FPM, keep an eye on this blog and my website as I'm getting close to being able to share it with you soon.

Jim

www.forexprofitmonster.com

It's Been Awhile...

It's been awhile since I've been able to post, but I wanted to at least post the results of the trades that were open in the last post, so here's a quick rundown:

EUR/USD long - Opened at 1.4642; closed at 1.5363. Profit - 721 pips.

GBP/USD long - Opened at 1.9660; closed at 1.9837. Profit - 177 pips.

USD/CAD short - Opened at .9960; closed at .9839. Profit - 121 pips.

USD/CHF short - Opened at 1.0886; closed at 1.0140. Profit - 747 pips.

USD/JPY short - Opened at 107.10; closed at 103.79. Profit - 331 pips.

Total positive pips for these trades: 2,097!!!

I took a few days off after closing out these trades as there were a lot of major moves and those are many times followed by some ranging and false moves while price settles down.

I finished the month of February +694 pips, and March stands at the above total (+2,079) so far!

I'll be posting more charts of trades for the month of March as time allows.

For more information about the Forex Profit Monster trading system and how it works, visit my website at http://www.forexprofitmonster.com.

Best of luck in your trading...

Jim
http://www.forexprofitmonster.com

It's Been A Fantastic Week On The 4 Hour Charts

What a week on the 4 Hour charts. Not only is the EUR/USD trade from last week still open and continuing to pile up the pips, but I was able to open a few more trades on the 4 Hour time frame that have moved well into profit and are still open! Here are the charts starting with the EUR/USD update which is now 572 pips in profit:

Next is a GBP/USD long which is currently 270 pips in profit:

A USD/CAD short that is currently 230 pips in profit:

A USD/CHF short that is still open and almost 400 pips in profit:

And finally a USD/JPY short that is open and 176 pips in profit. Just before this trade I entered a long which was a loser for 64 pips, but even with that loss we are still over 100 pips in profit on this series of trades!

That brings our "unrealized" profits on these trades to 1,635 pips in just over a week! Forex Profit Monster caught a lot of great moves to close out February. If these trades don't all close out by tomorrow, it will give us a HUGE head start to our pip total for the month of March.

Because none of the above trades have been closed for realized profits I won't add them to the totals for the month of February, but I will subtract the 64 pip loss. That means that so far for the month of February Forex Profit Monster has a total gain of +694 pips. Hard to believe that if I closed all of the open trades in this post I could close out February with 2,329 pips!!!

For more information about the Forex Profit Monster system and how it works, visit my website at http://www.forexprofitmonster.com/.

I'll update these trades in a future post... I hope you're having as good of a February trading as I am! Here's to positive pips...

Jim

http://www.forexprofitmonster.com/

Forex Profit Monster Continues Winning Ways...

Time for a weekly update on my trades with Forex Profit Monster. I took several trades over the past week on the 4 Hour charts... probably the most since I've been mainly trading the 4 Hour time frame. There were some losing trades (as there always are) but the pips lost were kept to a minimal number, and the number of winning trades did outnumber the number of losing trades, so it was a very profitable week!

First the losing trades... I had three losers. One on the USD/JPY for a loss of 42 pips and two losers on the USD/CHF... one for -92 pips and one for -43 pips.

Now on to the better news... the winning trades :-)

First up is a trade that is currently still open. It's on the EUR/USD and is shown here on the chart below:

I will update this trade in a future post as to how it turns out, but I'm confident because of how far this has moved into profit that it will be a large winner for me.

Here's another chart of a trade made this week on the EUR/JPY:

Another winner that closed out in a few days for 136 pips of profit.

And here's another chart of a winning trade this week on the 4 Hour time frame:

This AUD/USD trade was nice and clean... I got my entry signal at the end of the price retracement and price went up and touched the major resistance line to close out on the take profit I had set in my market order. This trade added 209 pips of profit to the weekly and monthly pip total!

There were two other winning trades this week... one on the GBP/USD for 104 pips and another on the USD/CAD for 72 pips.

That gives me a weekly win of 344 pips including the losing trades but not including the 189 pips of profit on the EUR/USD trade that is still open.

This brings the monthly realized profit total for February to 758 pips... again, not including the 189 pips still open.

It's nice to see that concentrating on the 4 Hour chart instead of the 1 Hour chart hasn't severely reduced my profitability for this month. I'm right on track to be at or above the 640 pip average that the system has been generating since I've been keeping track on my live account.

I'll be updating the blog again within the next week to show the result of the EUR/USD trade and update the totals for the final week of February.

If you have any questions about Forex Profit Monster and how it works, check out my website at http://www.forexprofitmonster.com/

Thanks, and best of luck to you in your trading!

Jim

http://www.forexprofitmonster.com/

February Off To A Good Start

It's been more than a week since I've been able to post, so I'll be posting a few charts today. First up, the USD/CAD trade that I re-entered after the USD interest rate statement. (Re-entry trades are explained in complete detail in the Forex Profit Monster Installation Guide and User Manual.) At first it looked like a good decision, but as you can see it ended up generating an exit signal a few candles later. I took a 39 pip loss on this trade to start February.

It didn't take long to move back into the positive in pips for the month though. This next chart shows a good trade taken on the 4 Hour chart on the GBP/USD. It took a few days and looked like it might not be a winner at first, but that's why you can't bail out of fear! This trade generated 256 pips of profit in just a few days.

This 4 Hour EUR/USD also added to the monthly pip total with a gain of 197 pips:

That brings the total for February to +414 pips on just three trades!

If you'd like more information about Forex Profit Monster and how it works, visit the website at http://www.forexprofitmonster.com/.

Best of luck in your trading!

Jim

http://www.forexprofitmonster.com/

This Week's (and Month's) Results... Best Month Yet for Forex Profit Monster!

Here's a look at what happened to the USD/CAD trade that I opened on the 4 Hour chart this week. Usually I don't worry about news affecting trades on 4 Hour and Daily time frames, but this time around I decided to close this trade out before the US interest rate statement. There was so much conjecture about what was going to happen after the "emergency" .75 point cut last time that I felt no matter what the Fed did there was going to be HUGE volatility, so I closed the trade out before the news as shown in the chart below:

As you can see, there was a lot of volatility before price finally did settle down and head back in the direction it was before. I also closed out the trade I had open on the GBP/USD on the 4 Hour chart for the same reason. I exited that position at 1.9890. That means the results were 173 pips of profit on the USD/CAD and 149 pips on the GBP/USD. That gives Forex Profit Monster a total gain of 1,462 pips for the month of January, the best month yet! After the volatility settled down, I decided to re-enter the USD/CAD short at .9973. Right now the trade is in profit 32 pips... we'll see if this re-entry turns out to be a good move or not :-)

I decided to limit my trading today due to the U.S. Non-Farm Payroll coming out as I don't like trading around major news, so no trades have been taken so far for the month of February.

On another subject, I've been getting some email lately from people considering buying Forex Profit Monster. I've decided to post some of the answers I've given them here on the blog because I figure if one person asks it, many others may be thinking it too. One question I've received has asked me if I can post my trade entries in "almost" real time instead of showing the charts after the fact. To be honest, I really have no interest in doing this because I need to concentrate on my trading and other business activities and can't rush to the blog every time I open a trade to post the chart. I try my best to show the open and close when a trade lasts more than a day or two and is convenient for me to post, otherwise my priority is my trading first. I'm not trying to hide anything... I've been upfront that this system is not a holy grail and that there will be losses. I've even shared some of the losing trades right here on the blog. This system is very robust, but there will be losing weeks and maybe even losing months. For those who've asked, here's a breakdown of my monthly results so far with FPM since I've been keeping track:

August 07 + 579 pips
September 07 - 173 pips
October 07 + 385 pips
November 07 + 999 pips
December 07 + 585 pips
January 08 + 1,462 pips

Total - + 3,837 pips in 6 months or + 639 pips per month on average. (I've been trading this system for almost a year, but the first few months were "beta testing" and I made some adjustments to it during this period so I won't post those results).

Now you must realize that I took fewer trades the first three months (Aug, Sep & Oct) than I did the past three months (Nov, Dec, and Jan) and this had an effect on the results. I think as I became more confident in it I did even better. Again... I'm posting my personal results because people are asking. If you decide to use FPM on your own your results can vary depending on the currency pairs you choose to trade, the time frames you choose to trade and your ability to follow the rules of the system. I WILL NOT GUARANTEE YOU WILL HAVE THE SAME RESULTS AS ME. I can't emphasize this enough. I'm being as honest and forthright as I can about what to expect from my system... I would rather be honest and have you NOT buy from me than to take your money and have you feel you didn't get what you paid for.

Anyway... with that being said, I hope the month of January was as profitable for you as it was for me, and here's to an even better February!!!

For more information about Forex Profit Monster and how it works, visit my website at http://www.forexprofitmonster.com/.

Jim
http://www.forexprofitmonster.com/

Good Entries On USD/CAD and GBP/USD on 4 Hour Charts

Here are a couple of trades I've taken recently on the 4 Hour charts. I've been paying more attention to the 4 Hour charts lately (instead of the 1 Hour charts) as it takes less of my time to monitor this time frame while I'm working on some other things. The first chart is of a short on the USD/CAD:

As you can see this trade is still open and is currently 140 pips in profit. Here's another entry on the 4 Hour charts on the GBP/USD:

This trade is also still open and currently 145 pips in profit. I'm also keeping a very close eye on the EUR/USD and USD/JPY as they are both consolidating into very tight ranges for the 4 Hour charts and I expect a breakout and move on both of these pairs soon.

I haven't added to the monthly pip total since the last posting because both of the trades I've taken are still open and the profits haven't been "booked" and realized yet. That means the total for January still stands at 1,140 pips profit. I'm hoping to add a little more to that in the next couple of days before we start February!

If you have any questions or would like to learn more about the Forex Profit Monster trading system, please visit my website at http://www.forexprofitmonster.com/.

Thanks, and here's to good trading!

Jim
http://www.forexprofitmonster.com/

AUD/USD provides more pips this week

It's been a few days since I've posted... it's been a busy week. I'm still trading 1 Hour charts but am now starting to watch the 4 Hour charts more closely. Here's a big mover this week that Forex Profit Monster caught:

It's been a good week with several "small wins" of less than 100 pips on a few pair (GBP/USD, USD/CAD, USD/CHF) that all closed at support/resistance. I also continue to pull pips out of the EUR/JPY and GBP/JPY. So far this week FPM has generated 313 pips with a 7-2 record. That brings the monthly total to 1140 pips! This has been the best month so far since FPM was first put into use as a live trading system last spring. The continued downward trend of the EUR/JPY (and USD/JPY, GBP/JPY) has a lot to do with that as it's accounted for a large amount of pips.

I continue to work on the new "day trading" system. I've received some email from people wondering whether this new system will replace the current Forex Profit Monster. The answer is NO!!!!!! Why would I replace a system that has consistently generated 400+ pips per month? No, this new system is designed to be more of a daytrading system that gets you into and out of moves faster so that most of your trades will close out within a single trading session. It's meant to be used alongside Forex Profit Monster... with FPM as a longer term system and the new "Forex Day Trading Monster" (I guess that's the name now LOL) as a short term system. Both stand on their own as systems and are not dependent upon each other, but my personal plan is to use both to give me the power to diversify and spread my risk and pull even more consistent pips out of the Forex!

I've actually begun forward testing the new system myself this week as I check the new indicators for any bugs. So far so good. Once everything is OK the next step is to have a couple of people "beta test" the system along with me.

For more information about the Forex Profit Monster trading system, visit my website at http://www.forexprofitmonster.com/.

Thanks, and here's to many pips flowing into your account!

Jim
http://www.forexprofitmonster.com/

My Trade of the Week - EUR/JPY

It was a good week again this week thanks to the EUR/JPY which actually is making my month this month. This pair has been generating lots of pips while most of the other pairs are ranging back and forth. This trade was actually a "Re-Entry" trade (as described in the Forex Profit Monster Trading Plan in the User Guide) as I missed the original trade that gave a short signal a little over a day before.

This was a great trade for 273 pips that increased my pip total for the week, along with a 55 pip win on the GBP/USD and a 20 pip win on the USD/CAD. These offset a couple of small losses of 63 pips on the AUS/USD and 51 pips on the USD/JPY. This brought my weekly pip total to 234 pips. But the amazing news is that the EUR/JPY trade wasn't the best trade signal of the week. I got an email from one of my customers who told me that he caught one of the great moves on the Euro Yen's cousin the GBP/JPY this week. Check out the move below...

Amazing! 646 pips in just a few days. I was happy with my gains this week, but it didn't compare with that one! Even better, he's a new user of Forex Profit Monster and this was one of his first trades!

Speaking of new customers, I'd like to thank everyone who has purchased the system over the past couple of weeks. Forex Profit Monster is now being traded worldwide, with new customers not only in the United States, but also Singapore, Canada, England, Germany and Italy just to name a few.

Well, it's Friday... and don't forget, Monday is Martin Luther King Jr. Day, a bank holiday in the U.S., so expect trading volume to be down for the NY session on Monday (if your broker is open).

With this week's 234 pips that brings the monthly total for January to 827 pips. If you'd like more information about Forex Profit Monster and how it works, visit the website at http://www.forexprofitmonster.com/.

I'll be spending part of my weekend finishing the coding of a new indicator and starting to backtest a new short term system to compliment Forex Profit Monster. More news on that soon after it's ready...

Have a great weekend and here's to many pips...

Jim
http://www.forexprofitmonster.com/