The hazy, lazy days of summer... less trading volume and more vacation... means I'm late again this month posting the results! Thankfully my lack of discipline is only showing in this regard... my trading continues to be right on track :-)
The month of July was a winner, although not a fantastic one, still a winner, with a profit of 225 pips. There weren't a lot of huge moves in July... a nice trend on the EUR/JPY for a little over 300 pips accounted for most of July's profits. Once again I closed out the month and started August with over 1,000 pips of positive equity, and out of that equity I've closed out a USD/CHF short trade that profited me almost 600 pips toward the August results, which just about guarantees that I'll have a winning August as well.
It's been a rollercoaster month so far in the equities, with the DOW seeing some of its biggest one day gains and losses ever over the past couple of weeks. What does this mean for the currency market? Hard to say... usually it means a strengthening U.S. Dollar as people flee the more volatile, "riskier" markets for the "safety" of cash and U.S. treasuries. Funny thing is, this time it doesn't seem to be happening. Most people are either sticking it out or buying gold and silver... which seems to lend creedence to those who are waiting for the U.S. Dollar to devalue even more... or even collapse. As a trend follower I won't allow those fundamentals to affect my trading by influencing my decisions... I'll still take long trades on the Dollar if I get a signal to do so... but I have to admit that I'm much more comfortable taking the short side of the Dollar these days, especially since it's where I've been making most of my money in the past several months.
Here are the results for July:
28 total trades
12 wins: 1,309 pips
16 losses: 1,084 pips
Total pips: +225
Win rate: 43%
Avg win: 109
Avg loss: 67
Avg Risk/Reward: 1.62 to 1
And the monthly results by currency pair traded on the 4 Hour chart:
EUR/JPY 2 W, 1 L +324
EUR/USD 3 W, 1 L +127
USD/CAD 2 W, 1 L +34
GBP/USD 1 W, 2 L +5
USD/JPY 0 W, 1 L (-25)
USD/CHF 1 W, 3 L (-49)
GBP/JPY 1 W, 4 L (-61)
AUD/USD 2 W, 3 L (-130)
And the up to date yearly results so far for 2011:
January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
That's a total of 2,585 pips so far in 2011, and an average per month of 369 pips.
That's it for July... 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 (or both) systems at a discount, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/ where I list one or two systems per week at a discount.
Best of luck in your trading!
Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less/
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