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/

Well, It Was A Good Mistake

For once luck was on my side and the "mistake" that was made stopping me out for 34 pip profit on the GBP/USD trade turned out to be good. I actually came away with a small profit instead of a 10 pip loss, and the trend didn't immediately continue in the same direction.

It's been a few days since I've been able to post on the blog... between trading and taking care of some of my new customers for Forex Profit Monster I've been extremely busy! Toss in having to take care of some personal business this week that's cut into my trading time, and it's hard to believe it's Thursday already! As this seems to be happening more and more I'm seriously considering personally trading Forex Profit Monster only on the 4 Hour charts and above. I've been tinkering with a new indicator and a system to complement Forex Profit Monster. It's more of a "day trading" forex system in which the trades will just about always close out during a single trading session. This removes the stress of having to manage trades overnight and missing entry signals that may not be generated again for days because of not being able to trade on a certain day. This would give me the best of both worlds... Forex Profit Monster, a system where I can capture longer term moves of 150 to 1,000 pips; and a day trading system that will let me capture many smaller moves of 10 to 150 pips and close the orders out in a single day. I guess you could call this system the trend follower's version of "scalping" LOL. Anyway, more news on that soon as I've just about finished coding the indicators and will start backtesting the system this weekend.

I've had a couple of small losing trades this week and one winner... I'll update the information on the monthly total as well as share some good news from some of my customers in the next post... but it's time to check those 1 Hour charts...

Good luck and good trading!!!

Jim
http://www.forexprofitmonster.com/

Whoops... Good Mistake or Bad Mistake????

I took one trade today on the 1 Hour chart on the GBP/USD. I got a signal near the end of the NY session after thinking I was going to end the day without a trade. I entered short at 1.9565 after the Forex Profit Monster Fast and Slow Trend Indicators lined up. Because the trade was taken at the end of the NY session, it would mean me setting a tighter stop than usual for a few hours so I could get some sleep, then when I got up in a few hours if the trade was still on (not stopped out) I would take that stop off and put the "safety stop" back on and wait for the system to give me an exit signal. This is what I usually do when a trade on the 1 Hour chart goes past a trading day, rather than have to get up every hour to check the charts. Unfortunately right before this blog post I went to set the stop loss so I could get some sleep, and MADE A MISTAKE while setting the stop loss. I'll accept the blame, even though I think it might have been a "glitch" in MT4 that caused the problem. I went to set my stop loss to just behind the blue line of the "Real Price Channel" indicator (just above the 61.8 Fib retracement) and when I entered the modified order, the price setting for the stop loss jumped back to right around where the price was currently. By the time I could get the order box back open to fix the problem, the price actually moved up a few pips and took out the stop at 1.9531!!!!!

So, I ended up making 34 pips on this trade... I guess we'll have to wait and see whether this was a good mistake or a bad mistake... I decided against re-entering the trade since it had already moved so far and I did come away with a profit.

It just goes to show you... even though you have a ton of experience using a platform, you can still make a mistake. (Although I still think the number reset as I entered the order!)

Even with this "mistake" in my trading, the current monthly total for January is +593 pips.

Best of luck in your trading... may the pips be with you!!!

Jim
http://www.forexprofitmonster.com/

Persistance Pays Off With USD/CHF Trade!

Here's the chart from the series of trades on the USD/CHF that began on Wednesday...

As detailed in the previous post, I lost 10 pips on the first trade in this series, then lost 31 pips on the second (long trade). The third trade was taken and was successful. I entered short at 1.1110 once the Forex Profit Monster indicators lined up and then exited at support at 1.1010. This trade resulted in a 100 pip profit.

That brings the January "realized profits" total to +559 pips.

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

Jim

http://www.forexprofitmonster.com/

GBP/USD and USD/CHF Trades

Took two trade signals last night/this morning. One was on the GBP/USD which I hesitated to take because of the interest statement due out tomorrow, but the pair has moved so little in the past week I didn't want to miss a breakout on the 1 Hour chart. The first signal was a long which was quickly exited for a 47 pip loss. Then a short signal was taken... I decided to close out the trade at the end of the NY session today for a 72 pip profit instead of waiting for an exit signal as I don't want to get stuck in a "short squeeze" if the break of the 1 Hour support line was caused by traders exiting their positions before the Pound interest rate announcement and is not a real move to the downside by the Pound. In my opinion the price of the Pound is undervalued right now against most of the other currencies and if there's no rate cut tomorrow it will probably cause a big spike to the long side. I don't want to get stuck holding a short position if that happens.

The USD/CHF also generated a short signal that I took for a 10 pip loss, then a few hours later generated a long signal which I took. I'm currently in that trade with a 20 pip profit. The target for this trade is 1.1185 which is the next major resistance level on the 1 Hour chart.

So, even with the two losing trades to start the day, I'm currently in profit for the day by 15 pips, maybe more depending on how the USD/CHF trade turns out. I'll post the results of the trade here on the Forex Profit Monster blog once it runs its course.

Tomorrow is a big news day with interest rate announcements and Trichet and Bernanke scheduled to speak, so I don't expect to take any trades tomorrow, but will be monitoring the trade that I have open.

Current "realized profits" for the month of January... +500 pips.

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

Jim

http://www.forexprofitmonster.com/

Winning Trade on AUD/USD

I took an early morning signal (even early for those of us who trade the European session) on the AUD/USD today. Even with the USD news that was due out at 10:00 am, I took the trade with confidence because of the rising price of gold and the good chance that the economic news due out on the U.S. Dollar (Pending Home Sales) would be negative. Even if it wasn't there's little chance of good news doing anything to rally the dollar on any release to do with housing, so I was in where the chart below shows.

I chose to exit this trade at resistance for a 59 pip profit.

Another profitable trade with Forex Profit Monster! It's been a slow month so far, with only two trades taken in a week, but the total so far for January is +485 pips. I'm expecting many more opportunities as we continue through the month because so many currency pairs are still in a tight range (especially the majors), even on the 1 Hour charts. The EUR/USD is especially poised to make a move, as is its correalated "cousin" the GBP/USD. I'm not used to seeing so much consolidation on this time frame for such an extended period of time... bring on the breakouts :-)

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

Good luck and good trading!

Jim

http://www.forexprofitmonster.com/

The Times, They Are A Rangin'...

Sorry for the Bob Dylan reference, but it seems to sum up the Forex market today. Not much happened... no signals were generated by the Forex Profit Monster trading system on the 1 Hour chart. Actually there was a signal that could've been taken on the USD/JPY pair, but because the Fast Trend indicator had already changed to red before the Slow Trend indicator crossed up, I didn't take the trade as this is a sign of a ranging pair and a riskier trade. Some 4 Hour trades that would've been taken a few days ago closed out for healthy profits (300+ pips), but because I didn't trade any of them on my live account, I won't be posting the results here.

Big news tomorrow on the Pound and the U.S. Dollar is probably causing the ranging to continue. Both economic reports have to do with housing, and as we all know the housing and mortgage crises are causing some real volatility in the markets and will probably continue to do so for some time. After the U.S. news is released at 10:00 am we may see some heavy trading into Wednesday as Wednesday is a relatively slow news day. Thursday brings the Pound interest rate decision, and both the European Central Bank's Trichet and the U.S. Federal Reserve Chairman Ben Bernanke are scheduled to speak, so look for another risky day on Thursday. I expect some ranging on the major pairs until the Pound interest statement, followed by some possible wild volatility depending on what is said by Trichet and Bernanke. Thursday is a day I will probably be taking off.

This is one of those times that it takes some real trading discipline to not go looking for trades just so you can be in a trade. It took me a long time to learn this, but it's still tempting to try and jump in when you see so many pairs in a tight range just waiting to break out!!!

That's it for today... if you'd like more information about the Forex Profit Monster trading system, you'll find it on my website at http://www.forexprofitmonster.com/.

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

Jim
http://www.forexprofitmonster.com/

Big News Day Means Day Off For Me

I don't trade daily news being a technical analysis trader and trend follower, so I usually avoid trading around Non-Farm Payroll and other big news. I keep up with fundamentals, but only as to how they may affect the overall picture. That means today was a "day off" for me... translate "day off" to mean I actually got more than a few hours of sleep :-)

No trades currently open after closing out the EUR/JPY short, but it looks like plenty of opportunity on the horizon. Because of a combination of trading volume being down as people return from the holidays this week and the Unemployment and Non-Farm Payroll news being released today, many of the currency pairs have been trading in a range over the past couple of days. This is excellent news if you are a short term trend follower on the 1 Hour chart like I am... it means we should see some nice breakouts early next week on Monday or Tuesday.

With the employment news on the USD coming out weak today and the unemployment rate trending higher, it looks like the small amount of strength we've seen from the U.S. Dollar recently will be fading in the near term. The Great Britian Pound got some good news today on the Services PMI and mortgage news (!). I'll probably be watching for a breakout signal back to the upside on the GBP/USD after today's news... but with the interest rate decision due out on the Pound next Thursday any moves during the early part of the week will probably be quickly muted. Of course any of this is just speculation and as always I will let the market (and Forex Profit Monster) tell me what price is doing.

That's it for today... have a great weekend and as always, good trading!

Jim
http://www.forexprofitmonster.com/

EUR/JPY Trade Closed on January 3rd

Here's the first post of a completed trade. I took this trade on my live account with the signals generated by Forex Profit Monster. I opened this trade on New Year's Eve "eve" at 9pm on the EUR/JPY 1 Hour chart. This was one of the few good trading opportunities around the holidays and I'm glad I didn't miss it. Of course the audio alerts with pop-up windows that are built into the system are a big help with that.

426 pips of profit in just a couple of days... not bad. Notice too how I didn't get stopped out during the "price spike" just before I closed the trade. This is another advantage of Forex Profit Monster... the stop loss method described in the User Guide will explain how to keep more of your trading profits by not getting stopped out in these situations.

For those of you who are skeptical (as you should be) here's a screenshot of the signals generated just before this trade and what would have happened.

This was a nice trade that starts off the New Year right! If you'd like more information about the Forex Profit Monster trading system, visit my website at http://www.forexprofitmonster.com/.

Happy New Year... here's to good trading and success at forex!

Jim
http://www.forexprofitmonster.com/

Welcome to the new Forex Profit Monster blog!

Welcome to the new Forex Profit Monster blog! This is where you can keep up with what's going on with the Forex Profit Monster trading system at http://www.forexprofitmonster.com/.

I'll soon begin detailing trades that the system has generated along with posted charts. These trades will be trades I've actually taken... NOT HYPOTHETICAL. These posts will be made as frequently as my trading schedule will allow. Personally I've been able to consistently generate over 400 pips per month for the past several months trading 8 different pairs on the 1 Hour, 4 Hour and Daily time frames (although most of my trading is done on the 1 Hour chart). The best month came this past November which was a profit of 999 pips! There were a lot of great trends going on in November and I was very focused and able to catch a lot of them. Sure, it would have been nice to have had ONE MORE PIP so that I could have had a 1,000 pip month, but remember... don't get greedy. :-)

December was also a profitable month with a gain of 585 pips... although I should have made more. I got a little sidetracked with some other things and missed some great trades that happened the week before Christmas on the 1 Hour charts. Being curious I did have to sit down and add them up... over 700 pips missed on a few beautiful week long trends. Not that I would have necessarily caught all of them, but I'm sure I would've gotten most. That would have made December another great month like November... not that I'm complaining about a 585 pip month.

Here's to 2008 and many more opportunities to profit!

Jim
http://www.forexprofitmonster.com/