Forex Profit Monster Trading System

Forex Profit Monster Results - December 2011

2012-01-08T10:19:00.010-05:00

Here it is... the new equity curve for Forex Profit Monster. As mentioned in previous posts, the software that I use to plot the equity curve has a limitation of the number of data points you can use, and as of a couple of months ago that limit was reached. I decided to recompute the curve on a quarterly plot instead of monthly so that I can continue to post the curve on the results blog using the same software.

The funny thing is, the difference in the equity curve can teach a lesson as far as trading discipline is concerned. Look at the graph above and compare it to the last monthly graph:

Do you see how the drawdowns are more noticeable in the monthly graph than the quarterly graph? While technically the information is exactly the same, it shows that seen over a longer time frame the same results seem less volatile. While many small drawdowns can be seen in the monthly graph (every time there is a losing month there is a drawdown in the graph)... there are hardly any visible in the quarterly graph. The only one of any relevance at all is in Q3 of 2010... and even that is extremely small and lasts for only that quarter. Want to take it to the "next level"? Here's a graph of the yearly results:

See how there are NO drawdowns in the yearly results at all?

So what lesson is to be learned here as a trader? With a viable trading method that has a positive expectancy, you CAN'T allow the results of single trades (or even single weeks or months worth of trades) to cause you to lose your focus. If you become undisciplined because you have a losing streak or enter a drawdown, you may miss out on the profits that will help you to overcome the losses. You must keep focused on the "big picture"... or making money over time. Days, weeks, or even a couple of months of losses in a row don't mean anything over the long haul.

With that covered, here are the results for December:

29 trades total

11 wins: 1,251 pips

18 losses: 1,158 pips

Total pips: +93

37% win rate

Avg win: 113

Avg loss: 64

Avg risk/reward ratio: 1.76 to 1

Here are the results by currency pair on the 4 Hour chart:

AUD/USD 2W, 1L +268

EUR/USD 2W, 1L +239

EUR/JPY 1W, 0L +195

USD/CAD 2W, 1L +137

USD/CHF 1W, 2L +42

USD/JPY 0W, 5L (-118)

GBP/JPY 2W, 3L (-126)

GBP/USD 1W, 5L (-544)

And the totals for 2011:
January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
August +221
September +2,227
October +2,634

November +1,286

December +93

That's a total of 9,046 pips in 2011, and an average per month of +753 pips. For more information about Forex Profit Monster (and my day trading system Forex Day Monster), visit the website at www.forexprofitmonster.com.

To purchase either system (or both) at a discount, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less where I list one or two items per week at a discount.

Best of luck in your trading!

Jim

www.forexprofitmonster.com

Forex Profit Monster Results - November 2011

2012-01-08T09:17:00.004-05:00

So the holidays are over and it's the start of a new year! This post includes only the November results because I'm just getting around to transcribing my trading logs and posting the results from November. I've been enjoying some downtime over the past several weeks... but I'm taking some time on a Sunday morning to catch up on some of the more "clerical" aspects of my trading that I can procrastinate.

I've also spent some time over the past couple of weeks reviewing the data from the past few years and reorganizing it from monthly data points to quarterly. Beginning with the December results I'll start posting a new equity graph using the quarterly results instead of monthly results. (While I'll still post monthly results here on the blog, the graph will only be updated each quarter).

November was a very good month for Forex Profit Monster with an overall profit of 1,286 pips. Here are the overall results of the 8 pairs I trade on the 4 Hour charts with FPM:

20 trades total

10 wins: 2,104 pips

10 losses: 818 pips

Total pips: +1,286

50% win rate

Avg win: 210 pips

Avg loss: 81 pips

Avg risk/reward: 2.59 to 1

Here are the results by currency pair:

GBP/JPY 2W, 0L +586

EUR/JPY 2W, 1L +340

USD/CHF 1W, 0L +284

AUD/USD 1W, 1L +233

USD/JPY 1W, 0L +58

EUR/USD 1W, 1L +49

USD/CAD 1W, 3L (-91)

GBP/USD 1W, 4L (-173)

And the totals for 2011 so far:
January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
August +221
September +2,227
October +2,634

November +1,286

That's a total of 8,953 pips so far in 2011, and an average per month of +813 pips. For more information about Forex Profit Monster (and my day trading system Forex Day Monster), visit the website at www.forexprofitmonster.com.

To purchase either system (or both) at a discount, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less where I list one or two items per week at a discount.

Best of luck in your trading!

Jim

www.forexprofitmonster.com

Forex Profit Monster - October 2011

2011-11-30T13:15:00.004-05:00

Another spectacular month with Forex Profit Monster! The past two months have more than made up for the slow start in 2011. Even though I consider myself a "seasoned" trader now, it's still tough to sit through drawdowns... and those drawdowns are especially tough when they happen in consecutive months in the beginning of the year and sometimes take a few months to recover from. However with October's win I have guaranteed another winning year with FPM (both in pips/dollars and number of winning months vs. number of losing months).

Some of you have contacted me regarding why I've been so late posting the results again this month. There are several reasons, some of which are personal and I won't go into, but one of which actually has to do with the results and the results blog itself. The software that I use to graph the results is limited to the number of data points it will accept. I have reached the limitation with the monthly results, so my plan was to find some new software and redesign the graph and transfer the data, or redesign the graph in the current software to show results by quarter instead of by month. I had the best of intentions to have this done by this month, but it's a project that keeps getting moved lower on the priority list. I will however keep working on it so that the graph can continue to be posted on the results blog each month.

Anyway, on to the October results:

25 trades
12 wins - 3,267 pips
13 losses - 633 pips

Total: +2,634 pips

48% win rate
Avg win: 272
Avg loss: 48
Avg risk/reward: 5.66 to 1

And here are the results by currency pair as traded on the 4 hour chart:

AUD/USD 2W, 0L +1,426
USD/CAD 2W, 1L +539
GBP/USD 2W, 0L +390
EUR/USD 2W, 1L +341
USD/CHF 2W, 2L +144
EUR/JPY 1W, 2L +33
GBP/JPY 1W, 1L +4
USD/JPY 0W, 6L (-243)

And the totals for 2011 so far:
January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
August +221
September +2,227
October +2,634

That's a total of 7,667 pips so far in 2011, and an average per month of +766 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 (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/

Forex Profit Monster Results - September 2011

2011-10-18T15:49:00.002-04:00

Here we go... into another Fall of economic uncertainty. What's going on in Europe... is the stock market heading for free-fall... is the U.S. Dollar finally going to collapse... is Gold a bubble about to burst or is it picking up a head of steam to the upside again???

If you find yourself asking these questions and allowing your opinion (or other's opinions) about these situations to either make your trading decisions for you or make you freeze up and unable to make a trading decision, then you are trading without a plan.

To be a successful trader you MUST have a plan in the form of a resilient trading system. I developed Forex Profit Monster in 2006 and have been trading it on a live account since 2007. That's almost 5 years... and even though FPM doesn't win every month (no trading system does... if someone tries to tell you theirs does you need to run the other way) it has kept my losses and drawdowns to a minimum and delivered relatively steady profits over time. The month of September was no exception, with a win of over 2,200 pips. This extraordinary month puts me at a new high for total pips won and more importantly, at a new high in my account balance! It has also almost doubled the pip total for the year... all in all a great month!

Here are the details for September:

16 trades

8 wins: 2,756 pips
8 losses: 529 pips

Total pips: +2,227

Avg win: 344
Avg loss: 66
Avg risk/reward: 5.21 to 1

Win rate: 50%

And the breakdown of results by currency pair traded on the 4 Hour chart:

GBP/JPY 1W, 0L +620
GBP/USD 1W, 1L +620
EUR/USD 2W, 0L +589
EUR/JPY 2W, 1L +434
USD/CHF 1W, 2L +153
USD/JPY 1W, 0L +17
AUD/USD 0W, 1L (-92)
USD/CAD 0W, 3L (-114)

And the totals for 2011 so far:

January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
August +221
September +2,227

That's a total of 5,033 pips so far in 2011, and an average per month of +559 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 (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/

Forex Profit Monster Results - August 2011

2011-09-29T15:08:00.007-04:00

Summer is officially over, but I have a hard time letting it go... it's my favorite time of the year. I've just returned from the beach and am getting back into a "regular" routine, which will include being more timely in posting updates here on the blog :-)

August results were the kind of results you expect from trading in summertime... a lot of aimless ranging by price... which could mean getting "chopped up" and showing a loss. However this August there were also some very good trends that closed out that helped me to show a profit instead of a loss. Thanks to a huge win on the USD/CHF of over 900 pips, August showed an overall profit of 221 pips.

Since I am writing this post so late in the month I can also say that September is ending up a great month, with many of those other pairs beginning to show some nice profits on moves that began in the beginning to middle of the month. Not only will September be a profitable month, it will be one of the most profitable of the year... most likely helping the system average return closer to its historical monthly mean.

Here are the results for August:

35 total trades
9 wins: 2,124 pips
26 losses: 1,903 pips

Total: +221 pips

Win Rate: 25%
Avg Win: 236 pips
Avg Loss: 73 pips
Avg Risk/Reward: 3.23 to 1

And the results by currency pairs traded on the 4 Hour chart:

USD/CHF 2W, 0L +960
AUD/USD 2W, 2L +305
USD/CAD 1W, 2L +216
USD/JPY 2W, 4L +137
GBP/JPY 0W, 4L (-165)
EUR/JPY 1W, 4L (-310)
GBP/USD 0W, 5L (-370)
EUR/USD 1W, 5L (-552)

The results this month once again help to show the resiliency of this system... the fact that the win rate of trades for the month was ONLY 25%... but that it still showed a profit!

Here are the results for 2011 so far:

January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)
July +225
August +221

That's a total of 2,806 pips so far in 2011, and an average per month of +350 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 (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/

July 2011 Results - Forex Profit Monster

2011-08-17T15:09:00.012-04:00

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/

Forex Profit Monster Results - June 2011

2011-07-11T11:01:00.010-04:00

I'm a little late posting the June results... with the July 4th holiday things got a little hectic last week, but I'm forcing myself to transfer the results of my trading logs to the blog today... before it's time to post the July results :-)

June was a tough month on the 4 Hour chart... A LOT of ranging, particularly on the GBP/USD and USD/CAD, with these two pairs basically providing the negative pips that made June a losing month. The good news is that as of the writing of this post the Pound is experiencing a large move in the direction of my current trade, with the GBP/USD breaking out to the downside and looking like it will be helping to add to positive pips for July. Also the USD/CAD is entering a tighter range on both the 4 Hour and Daily charts, so a breakout and large move on this pair is impending, hopefully by the end of this month!

Here are the results for June:

43 trades

10 wins: 1,181 pips

33 losses: (-1,992) pips

Total pips: (-811)

Win Rate: 23%

Avg win: 118 pips

Avg loss: 66 pips

Avg risk/reward: 1.78 to 1

Results by pair:

USD/CHF 2W, 3L +247

EUR/USD 2W, 2L +171

USD/JPY 1W, 3L (-15)

GBP/JPY 2W, 2L (-48)

EUR/JPY 2W, 2L (-72)

AUD/USD 0W, 4L (-178)

USD/CAD 0W, 8L (-389)

GBP/USD 1W, 9L (-527)

And the up to date yearly results so far for 2011:

January (-35)
February (-334)
March +869
April +2,168
May +503
June (-811)

That's a total of 2,360 pips so far in 2011, and an average per month of 393 pips.

That's it for June... for more information about Forex Profit Monster (and my day trading system Forex Day Monster), visit the website at 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

www.forexprofitmonster.com

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

Forex Profit Monster Results - May 2011

2011-06-09T12:27:00.003-04:00

The month of May was another profitable month for Forex Profit Monster. I finished May with a profit of +503 pips across the 8 pairs I trade on the 4 Hour chart (and I also have over 1,000 pips in profit still open from trades opened in May as of the writing of this post).

May's results brings the pip total for the year to more than 3,000 and the average per month to more than 600. Historically the mean return for this system has been around the 600 pips per month mark, so it's nice to see a return to that amount after the slow start I experienced this year.

Here are the details of the May results:

38 total trades

16 wins: +2,140 pips
22 losses: (-1,637) pips

Total pips: +503

Win rate: 42%

Avg win: 133 pips
Avg loss: 74 pips
Avg risk/reward: 1.79 to 1

Results by currency pair:

GBP/USD 2W, 0L +427
EUR/USD 3W, 1L +268
EUR/JPY 2W, 3L +209
USD/CHF 2W, 2L +174
USD/CAD 3W, 2L +5
USD/JPY 2W, 3L (-29)
AUD/USD 1W, 6L (-192)
GBP/JPY 1W, 5L (-359)

And the up to date yearly results so far for 2011:

January (-35)
February (-334)
March +869
April +2,168
May +503

That's a total of 3,171 pips so far in 2011, and an average per month of 634 pips.

I have received some comments this month from people asking about my usage of the system... to which I will respond, that's why this blog is here! The answer to every question that was asked is contained in this blog. I know there are a lot of posts, but if you want to know more about the system and how I use it reading this blog will answer your questions. I don't mean to come across as rude, but I don't have the time to answer the same questions over and over again... when they've already been answered in the posts contained here.

If you have a question that is not covered (or need more details) I will be happy to answer them... just contact me through the email contact at the website (www.forexprofitmonster.com).

Thanks for stopping by my blog and I hope your May was as profitable as mine!

Jim
www.forexprofitmonster.com

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

Forex Profit Monster Results - April 2011

2011-05-03T00:29:00.003-04:00

It's been almost a year since I've had a "windfall" month like April. It always feels good to reap the rewards of being a patient trend follower... and when the pips come flowing in like they did last month, you can't help but feel good! After all was said and done, I finished April with a profit of +2,168 pips across the 8 currency pairs I trade on the 4 Hour chart. I'm at a new account balance high, a new equity high, and I have a few trades still open that have carried over into May with a current total of about 1,500 pips of profit!

I'll get into the exact details of the month's performance in a little bit, but first the time seems right to address a question I got about 2 weeks ago from a fellow trader. I'll keep this person's name anonymous because I didn't ask to publish his question, but I think it's important to answer it and discuss the subject matter he brings up in an open forum so that others who may have the same mindset can learn.

The question posed was regarding my year end results with Forex Profit Monster over the past few years and the "sub-par" performance of the first two months of 2011:

"With regards to decreasing ROI year after year (2008: 300%, 2009: 60%, 2010: 30%, 2011: ?% do you consider FPM to be slowly losing its edge?"

I don't mean to be rude, but if this seems like a good question then you have a LOT to learn, young Jedi. :-)

The fact that the ROI has decreased each year for the past 3 years is not because the trading system is becoming less effective... it's actually quite the opposite! This system is very robust, and it adapts to the current market conditions. The reason that I experienced a 300% return in 2008 was because of the global "market meltdown" toward the end of that year. FPM helped me to achieve the incredible results in 2008 (not only a 300% return for the year, but more than a 100% profit in the month of October alone) while many other traders and investors were losing 40-50% of their account values (or more... there were a lot of account "KABOOMS" heard toward the end of 2008!). It was the "black swan" event that drove the profits for 2008... those profits were extraordinary and they can't be expected EVERY year. However sooner or later they will happen again (with things the way they are more likely sooner than later), and if you're trading a sound trend following system like FPM you'll be in the same position I was in 2008 when they do.

As far as 2009 and 2010 are concerned, all veteran traders know that after a huge event like we had in 2008 it will always take some time for markets to "settle down" again while volume and volatility move from one extreme to the other... and because of this profits during these times can be squelched. I don't know if that's what you can call a 60% and 30% return, but I guess you can if you're comparing it to 300%. However, any way you look at it even 30% is a great year. Even suggesting that a 30% return on the year is "poor" performance (as the person who asked the question seems to think) shows someone who is far removed from reality!

Here's some "homework" for you if you think a 30% return on the year is poor performance... go to your local bank and ask them how much of a return they're willing to give you on a savings account; or better yet, tell an investment adviser that you think a 60% or 30% ROI on the year is poor performance and tell them you'd like to invest with them... I'd almost guarantee they won't take you on as a customer... in fact they may call security and have you escorted from the building LOL!

If you are a new trader (or even an experienced trader) who thinks the question asked was valid, then you need to adjust your view of the market(s). Trading systems can only deliver what the market allows them to under the current market conditions. If you think you have any control other than to follow your trading plan and accept the returns available then you should probably give up trading because you're going to lose all of your money in the long run. Find someone who is a good trader/money manager, give them your money to trade and let them make you some money... or just donate the money you were going to use in your account to a worthy charity... at least then it will do some good since you're probably going to lose it all anyway! As an added bonus of doing this you can claim the tax write-off!

And here's some more advice for those of you who might feel better selecting a professional to manage your money... invest it in a trend following fund... and do the opposite of human nature and buy in during a drawdown (when the fund is actually temporarily losing money) so that you can maximize your returns when the new trends kick in! If you buy in during the "good times" (like after a 300% ROI year), you may start out in a drawdown or during a long stagnant period while the market consolidates. If you're going to be successful even placing your money with someone else, this is the way you need to learn to think!

Now with that out of the way, here are the results for April:

19 trades

11 wins: +2,876
8 losses: (-708)

Total: +2,168 pips

Win rate: 57%
Avg win: 261 pips
Avg loss: 88 pips
Avg Risk/Reward ratio: 2.96 to 1

Here are the results by currency pair:

USD/JPY 2W, 0L +472
EUR/JPY 1W, 3L +444
AUD/USD 1W, 0L +421
GBP/JPY 2W, 1L +344
EUR/USD 1W, 1L +213
USD/CHF 2W, 0L +203
USD/CAD 1W, 1L +90
GBP/USD 1W, 2L (-19)

And the up to date yearly results so far for 2011:

January (-35)
February (-334)
March +869
April +2,168

That's +2,668 pips total so far for 2011, or an average of +667 pips per month.

I hope your April was as profitable as mine, here's to a successful May!

If you'd like more information about Forex Profit Monster (and my daytrading system Forex Day Monster), visit my website at www.forexprofitmonster.com. You can purchase both systems there on the "Purchase" page.

You can also buy each system individually on my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/ where I list one or two trading systems per week at a discount.

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

Forex Profit Monster Results - March 2011

2011-04-02T07:21:00.006-04:00

The results are in for March and it was a very profitable month with a total win of 869 pips. As you can see from the graph above, that puts my equity AND account balance at a new high. It was nice to have a large win in March after the past couple of months of small losses. Even though I've learned to deal with the small losses that are a given when trading, it's still nice when those losing periods end!

Some have written to me in the past couple of months to ask why I don't post as many charts as I used to. I guess I've just gotten into the habit of providing the "bread and butter" results information that most are looking for regarding my trading with Forex Profit Monster, but for those who would like to see more current charts, here's one of March's best performer, the USD/CHF:

As you can see from the above chart, not only did I experience a nice profit from an extended downtrend on the 4 Hour chart, but I'm also currently in profit on this pair for April with the start of an uptrend (as of this blog post that profit stands at about +110 pips on this pair).

And the USD/CHF isn't the only pair that I currently have profit in open equity towards April's results... all together I have over 1,700 pips of current open profit across 7 of the 8 pairs I trade! Of course it's much too early to tell, but it looks good as far as April being a profitable month for me with FPM.

Here are the details for March's results:

26 trades total

12 wins: 1,672 pips
14 losses: 803 pips

Total pips: +869

46% win rate
Avg win: 139 pips
Avg loss: 57 pips

Avg Risk/Reward ratio: 2.43 to 1

Here are the results by currency pair:

USD/CHF 2W, 2L +337
EUR/JPY 2W, 0L +228
GBP/JPY 1W, 2L +186
EUR/USD 1W, 2L +128
USD/JPY 1W, 1L +70
GBP/USD 3W, 2L +41
USD/CAD 2W, 2L (-24)
AUD/USD 0W, 3L (-97)

Here are the results so far for 2011:

January (-35)
February (-334)
March +869

That's a total of 500 pips so far for 2011, or an average of 166 pips per month.

I hope your March was as profitable as mine, and here's to an even more profitable April and balance of 2011!

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

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

Forex Profit Monster Results - February 2011

2011-03-08T00:38:00.004-05:00

So far 2011 has been off to a very slow start, at least on the 4 Hour chart. There's been a lot of ranging, a lot of false breakouts, and a lot of world events that are lending a helping hand to the indecision in the markets. The good thing is that while February was another losing month, the loss was another small loss, this time of (-334) pips.

Many ask how I can continue to trade during times of loss. The answer is, if you're going to be a trader, you have to learn how to cope with losses. Losses in trading are a cost of doing business. The inability to cope with loss in trading is a serious psychological flaw. It's when the losing trader gives up on a profitable system and goes in search of the "Holy Grail". And this usually happens right before the trades that offset the losses and provide the new profits begin.

All trading systems have losses... the most important thing is that the system profits over time. And as you can see from the graph above, I'm well into profit since I started trading FPM live in 2007, and the current "drawdown" of just a few hundred pips can't really even be seen. Why would I give up on it now? This ranging can't go on forever... and the longer it does, the larger the breakouts and the longer the trends will be once they begin!

As of the writing of this post I have a few trades open and in profit, including one on the EUR/USD that has been open since mid February and is currently over 350 pips in profit. This means that even though the cash value of my account is in a drawdown, my equity is actually at a new high.

Here are the totals for February across the 8 currency pairs I trade on the 4 Hour chart:

29 total trades
9 wins: 847 pips
20 losses: 1,181 pips
Total: (-334) pips

Win rate: 31%
Avg win: 94 pips
Avg loss: 59 pips
Avg R/R: 1.59 to 1

Here are the results by currency pair:

GBP/JPY 2 W, 0 L +274
USD/CHF 2 W, 0 L +224
USD/JPY 2 W, 1 L +174
AUD/USD 2 W, 3 L (-69)
GBP/USD 1 W, 3 L (-153)
USD/CAD 0 W, 4 L (-184)
EUR/JPY 0 W, 5 L (-289)
EUR/USD 0 W, 4 L (-311)

Here are the results so far for 2011:

January (-35)
February (-334)

Total: (-369) or an average of (-184) pips per month.

Here's to great trading, and may the pips flow into your account!

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

Forex Profit Monster Results - January 2011

2011-02-07T23:38:00.008-05:00

It's off to a slow start for 2011 as January was basically a "break even" month. While technically it was a loss, the loss for the entire month was only (-35) pips which is less than the spread on the trades taken since there were 31 trades in January. Any time I can finish the month in the negative and have that negative be less than the cost of placing the trades I don't really think of it as a losing month :-)

While January was basically a "flat" month, I have already closed out a couple of profitable trades of more than 100 pips each in February, and I also have over 350 pips of open equity as of the writing of this post, which makes February a positive month so far. It's too early at this point to know how the month will play out, but it's always nice to be in the positive!

Here are the results for January:

31 total trades

7 wins: 1,708 pips
24 losses: (-1,743) pips

Win rate of trades: 22.5%
Avg win: 244
Avg loss: 72
Avg risk/reward: 3.38 to 1

The results by currency pair:

EUR/USD 2 W, 0 L +566
EUR/JPY 1 W, 2 L +118
USD/CHF 1 W, 1 L +95
GBP/JPY 1 W, 3 L (-35)
USD/JPY 0 W, 3 L (-120)
USD/CAD 0 W, 5 L (-190)
AUD/USD 1 W, 5 L (-208)
GBP/USD 1 W, 5 L (-261)

For more information about Forex Profit Monster (and my day trading system Forex Day Monster), visit the website at www.forexprofitmonster.com. To purchase, click on "Purchase" on the website, or visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/ where I list one or two systems per week at a discount.

Thanks for checking out the January results, and best of luck in your trading!

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

Forex Profit Monster Results - December 2010 and Yearly Results for 2010

2011-01-07T10:17:00.011-05:00

Even though I may be a week late by the time I got around to writing this post, let me wish you a Happy New Year!

The end of a year always provides the opportunity to look back over the past year (and sometimes even further) to evaluate things... and that's what I've been doing recently with my trading with FPM.

First conceived and developed by me in 2006 and first traded live in 2007, this system is now heading into its 5th year as my primary trading system. You can see from the graph above that I've had a lot of success with FPM since the start... and if you'd like you can read about my month to month experience and results by going back to the beginning of this blog which I started in January 2008, just a few months after I began trading with FPM. There are very few trading systems available with this type of transparency... no curve fit back tests... no "look at this one trade" screen shots... just my personal month to month results (winning and losing) for anyone to see and decide if they want to use FPM in their own trading.

The end of a year is also a very telling time for a trading system as yearly results are the industry standard for judging trading systems and money management firms. Monthly results are nice to follow, but with the changes in price cycles and trends anyone can get lucky for a month (or even a few months). There just isn't enough data in the few trades generated in a single month to give you a good idea of overall performance. However in 2010 I passed some milestones with FPM... not only did I surpass the industry benchmark of a full 3 year track record, but also surpassed 1,000 trades with FPM last year. (While 1,000 trades may not be a huge sample, remember this is LIVE FORWARD TRADING... not back testing. There's a world of difference between the two, and live forward trading trumps any kind of back testing... no matter how much data you use or how many trades you back test!) The report card for 2010 is in... and even though it wasn't my best year of trading with FPM... it was still a very profitable year! I'll get to those results for the year just after the December 2010 results:

32 trades
13 wins: 2,076 pips
19 losses: 1,489 pips
Total: +587 pips

40 % win rate
Avg win: 159 pips
Avg loss: 78 pips
Avg Risk/Reward: 2 to 1

Here are the results for December 2010 by currency pair:

USD/CHF 2 W, 0 L +493
AUD/USD 4 W, 1 L +337
GBP/JPY 1 W, 2 L +318
GBP/USD 1 W, 1 L +102
EUR/JPY 2 W, 1 L +97
USD/CAD 1 W, 3 L +57
USD/JPY 1 W, 5 L (-113)
EUR/USD 1 W, 6 L (-698)

Here are the results for the year 2010:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)
October +1,717
November +901
December +587

The win rate of months for the year 2010 was 66%

8 winning months for 10,631 pips
4 losing months for 4,238 pips

Total pips won: +6,393
Average: +532 pips per month

Here's a graph of yearly performance from 2007 to the end of 2010:

These results translated into a 37% increase in my account in 2010.

What will happen in 2011? No one knows... but I'm confident that after the results I've had with Forex Profit Monster over the past 4 years that if I follow the trading plan and manage my money properly (as instructed with the information that comes with FPM), I will continue to add to my profits in 2011 and beyond!

For more information about Forex Profit Monster (or my day trading system Forex Day Monster), visit the website at www.forexprofitmonster.com. To purchase, click on the "Purchase" tab in the menu at the top of the website, or visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

Thanks for reading and all the best to you, your family and friends in 2011!

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

Forex Profit Monster Results - November 2010

2010-12-04T14:34:00.006-05:00

Another good month of trading with Forex Profit Monster comes to a close in November as I ended the month with a profit of 901 pips. That keeps me near the all-time high of my account balance (and pip total) as you can see in the graph above.

It was a relatively active month with 37 trades and only a couple of long trends coming to an end. A lot of currency pairs were ranging on the 4 Hour chart in November, but luckily the ranges were large enough that many of those trades closed out as small wins instead of small losses (as is usually the norm with ranging months). This also accounts for the 54% win rate of trades for the month... more winning trades, but the wins were for fewer pips than usual.

Here are the details for November:

37 trades

20 winning trades - 2,296 pips
17 losing trades - 1,395 pips
Total: +901 pips

54% win rate

Avg win: 114 pips
Avg loss: 82 pips
Avg R/R: 1.4 to 1

Here are the results by currency pair for the 8 pairs I trade on the 4 Hour chart:

EUR/USD 2W, 2L +502
USD/CHF 2W, 1L +209
AUD/USD 2W, 1L +187
GBP/JPY 4W, 0L +179
GBP/USD 3W, 4L +110
USD/CAD 3W, 2L (-1)
USD/JPY 2W, 3L (-13)
EUR/JPY 2W, 4L (-272)

Here are the results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)
October +1,717
November +901

Total: +5,806 pips
Average: +527 pips per month

Next month's results will bring us to the end of another year... and my 4th profitable year in a row trading with FPM!

To contact me or for more information regarding the Forex Profit Monster trading system (and my day trading system Forex Day Monster) visit my website at www.forexprofitmonster.com, or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your trading was as profitable as mine in November and here's to adding to our pip total in December!

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

Forex Profit Monster Results - October 2010 - New Equity High!

2010-11-05T11:46:00.007-04:00

The month of October's +1,717 pip profit was in the top 10 of monthly returns since I've started trading FPM live in the summer of 2007. It was a welcome month after the past few months where I've basically been treading water since May's 4,500+ pip win. While I'm still in a slight drawdown, I now have the chance to be at a new high in my account balance by the end of the year; because if you include 3 profitable trades from October that are still open as of this blog post, and 4 more profitable trades that I've opened in the first few days of November, I am at a new equity high!

Once again the lesson to be learned here is you must be persistent and disciplined in your trading. Even though my pip total for the year has always been positive, it wasn't easy to have a losing month 3 out of the last 4 months before the large winning month of October. If I had given up because of those losing months, I wouldn't have won the pips in October or opened the trades in early November that have me at a new equity high. Trading psychology is extremely important in your development as a trader! That's why information to help you learn about trading psychology is included in the material in the Forex Profit Monster trading system. The other thing to learn is to manage your money properly. Don't do stupid things like doubling down on your trades because you think you're due for a win. Stick to position sizes that are reasonable for your account size and learn to ride out your losing periods. You can't win at trading unless you learn to manage your money properly! Again, this is why I wrote an eBook on money management and include it with Forex Profit Monster (this information is also included with my day trading system Forex Day Monster).

Here are the results for October 2010:

31 trades taken

11 wins: 3,489 pips
20 losses: 1,772 pips

Total: +1,717 pips

35% win rate of trades
Avg win: 317
Avg loss: 88
Avg risk reward: 3.6 to 1

Details of results on the 8 pairs I trade on the 4 Hour chart:

USD/CHF 2 W, 0 L +514
EUR/USD 1 W, 4 L +470
EUR/JPY 1 W, 4 L +434
GBP/JPY 1 W, 1 L +212
USD/JPY 1 W, 2 L +158
AUD/USD 2 W, 4 L +116
USD/CAD 1 W, 2 L +17
GBP/USD 2 W, 3 L (-204)

Here are the results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)
October +1,717

Total: +4,905 pips
Average: +490 pips per month

That's it for this month... hope your October (and so far November) has been as profitable as mine!

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

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

Forex Profit Monster September 2010 Results

2010-10-12T13:58:00.013-04:00

It was a "good news/bad news" month for trading with Forex Profit Monster. The bad news first... on paper there was a loss for the month of (-1,737) pips across the 8 pairs I trade on the 4 Hour chart. However, once again this loss isn't what it seems and is just a factor of the time frame I use to post the results (each calendar month).

The reason I say this is, the good news is that in the first week of October I've closed trades that were opened in September (and remained open at the end of September) for a total profit of +2,226 pips, and as of writing this blog post I still have several trades open with a total equity profit of about +1,200 pips... and some of these open trades are still from September as well. By adding the extra week into the results I would have a +489 pip profit and the +1,200 pips of open equity instead of the loss I'm posting. This is why it's not always easy to post the results like this... but the only other alternative would be to post them quarterly or yearly... and unfortunately that wouldn't suit the intentions of this blog, which was to provide up to date information regarding my performance trading Forex Profit Monster to those who are considering using it themselves.

I have been very busy this past month answering emails I've received not only about FPM, but about the other things going on in the Forex market the past few weeks... namely the Japanese intervention and the CFTC rule change that will be limiting our leverage use in a few days. I'll comment on those subjects after I post the details for September:

27 trades on the 4 Hour chart

3 wins: 432 pips
24 losses: 2,169 pips
Total: (-1,737 pips)

12.5% win rate
Avg win: 144 pips
Avg loss: 90 pips
Avg R/R: 1.6 to 1

Breakdown by currency pair:

AUD/USD 0 W, 0 L : 0 pips (1 trade initiated, carried into October)
GBP/JPY 1 W, 1 L : (-137 pips)
EUR/USD 0 W, 3 L : (-150 pips)
USD/CHF 1 W, 3 L : (-154 pips)
EUR/JPY 0 W, 2 L : (-159 pips)
USD/JPY 0 W, 3 L : (-196 pips)
USD/CAD 1 W, 6 L : (-295 pips)
GBP/USD 0 W, 6 L : (-646 pips)

Here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)

Total: +3,188 pips
Average: +354 pips per month

OK, with the results out of the way for September, I wanted to take a minute to comment on some things that happened during the month and are set to happen in a few days. First up, the Japanese intervention on September 15th.

I received a lot of emails from people asking how I handled the situation as it's not something that comes up often and obviously there is no set rule in the trading system on how to handle it. I was lucky enough to be at my computer on the 15th checking my trades when prices started going crazy on the Yen pairs (this is a benefit of trading the 4 Hour chart over the Daily chart)... and having heard rumors about the Japanese government considering a currency intervention I figured it must have happened. A quick check of Google news and sure enough the Japanese were extremely busy flooding the market with Yen and buying up U.S. Dollars in an attempt to slow the growth of their currency which was at a 15 year high. The reason the Japanese are concerned about the value of their currency is they are extremely dependent upon a weaker currency to support their export based economy. Once the Yen gets too strong it wreaks havoc on their economy and they look for any way to reduce its strength... an "intervention" is usually their final solution, but they may not just do it once... if it doesn't work the first time (which it hasn't as the USD/JPY pair is now lower then it was when they intervened) they can do it again... although sooner or later it becomes counterproductive and the Bank of Japan decides it has already "wasted" enough Yen and bought enough USD.

As far as how I handled the situation... I had trades open on all of my Yen pairs (all shorts of course) and I closed them out immediately upon learning of the intervention. The reason I did this was something I learned after studying Ed Seykota years ago. Ed had some simple rules for his trend following trading, two of which were "Follow your rules without question" and "Know when to break your rules". Now most people would say these two rules contradict each other (as Jack Schwager pointed out to Ed in his "Market Wizards" interview), but they don't if you understand what Seykota means. As a trader you should always have the discipline to follow your rules, but when the conditions change so drastically like they did with the Japanese intervention, it's time to throw the rules out the window and get out of the market (especially if you have a profit and know that the result of the intervention will probably wipe that profit out, even if it's only for a short period of time). You can always re-enter the market later on when things settle down if you want to. I actually did this myself... just a couple of days later I took new trades on the USD/JPY, and the EUR/JPY, but decided to stay away from the GBP/JPY for a little while longer due to it being a pair with a much higher volatility. As the Japanese didn't do much else after the push of the initial intervention I picked up trading the GBP/JPY again at the start of October. I'll still be watching the Bank of Japan closely though as they may decide to intervene again as the price of the Yen is hitting new highs once again.

Now for the other subject that has had traders chattering for the past couple of weeks... the U.S. government's new regulations about leverage in the Forex market. There has been debate for quite some time now (oh, at least since Obama entered office) of lowering the leverage available for retail Forex traders like you and me. It used to be brokerages offered as much as 400:1 leverage, that was reduced to 200:1, 100:1, and now as of next week the most leverage you'll be able to use with a U.S. broker is 50:1. Now some people are happy because everyone thought the reduction might go to 10:1, but I don't think that's really the issue. The issue here is that once again the "nanny state" run by the current administration is deciding what's best for the lowest common denominator in our society. I was able to use my 200:1 leverage quite successfully for a few years... and I wouldn't have been able to build my trading business as fast as I did without it. I'm sorry if Joe Blow from East Bumfuque opens a trading account with high leverage, doesn't manage his money properly and then ends up quickly losing it all... that's his fault, not mine, not the brokers' and certainly not the government's. If Joe Blow doesn't understand how leverage affects his ability to trade then he deserves to lose his money... and then maybe he will learn how to manage it or learn that he has no business trading!

While I'm mad at the government for once again overreacting and making up a bunch of rules and regulations after the fact to make it look like they are responding to the "financial crisis" (btw Mr. Obama, it wasn't the small retail trader who caused any of this mess), the leverage change doesn't really affect me personally very much. It just means I may have to add a little bit of cash to my brokerage account to cover the increase in margin I need to keep on open trades, or I'll just have to reduce my positions slightly to keep my risk in line and to rectify the change in leverage rule. Either way it's easily fixed and won't affect my business model very much. The same should go for you... don't let a stupid rule change by the government stop you from enjoying one of the last frontiers of the business world where a single person can take a small amount of money and build it up into a profitable business in a relatively short period of time!

That's it for this month... if you'd like to contact me for more information on purchasing the Forex Profit Monster system (or my day trading system Forex Day Monster)... visit my website at www.forexprofitmonster.com, or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

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

Forex Profit Monster Results - August 2010

2010-09-08T11:27:00.003-04:00

I'm a little late posting the August results... I guess the Labor Day holiday snuck up on me! Well if the summer has to end, at least it ends on a good note... after 2 losing months in a row I finally saw some breakouts and nice trends from late July into August and ended up with a winning month of 903 pips.

Here are the details:

31 trades

11 wins: 2,514 pips
20 losses: 1,611 pips
Total: +903 pips

35% win rate
Avg win: 228 pips
Avg loss: 80 pips
Avg R/R: 2.85 to 1

Results by currency pair:

GBP/USD 2W, 1L +659
EUR/USD 2W, 0L +556
AUD/USD 2W, 2L +150
EUR/JPY 1W, 4L + 97
USD/CAD 2W, 2L + 83
USD/JPY 1W, 3L (- 89)
GBP/JPY 1W, 3L (- 94)
USD/CHF 0W, 5L (-459)

Here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903

Total: +4,925 pips
Average: 615 pips per month

For more information about Forex Profit Monster (or my day trading system Forex Day Monster) visit www.forexprofitmonster.com. To purchase either system, visit the "Purchase" tab in the menu at the top of www.forexprofitmonster.com, or visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your August was as profitable as mine... and here's to even more profit ahead as volume returns now that September is here!

Jim
www.forexprofitmonster.com

Forex Profit Monster Results - July 2010

2010-08-06T11:48:00.004-04:00

Ah, the summer doldrums of trading. While I enjoy summertime and the warmer weather where I live, I don't enjoy the lack of volume in the markets. I feel like I'm wishing my life and favorite time of the year away, but as far as business is concerned I just can't wait for September to get here so that trading volumes can get back to "normal"!

I'm reminded of the summer trading doldrums by July's results. Not a bad month, but not a good month... just sort of a "month". Technically a losing month, but when those losses can almost be completely explained by the transaction costs of the trades, it really wasn't much of a loss. Plus, once again there were some significant moves on the 4 Hour chart toward the end of the month of July and I have over 2,000 pips of open equity profit across several trades while writing this post. Even with the volatility caused by the poor jobs numbers during the Non-Farm Payroll here in the U.S. today, most of those trades either remained largely unaffected or actually moved in my direction. Because of this I look forward to closing out these trades in the next couple of weeks to make August a profitable month.

Here are the results for July on the 4 Hour chart across the 8 pairs I trade:

31 trades

10 wins: 1,641 pips
21 losses: 1,826 pips

(-185 pips)

32% win rate
Avg win: 164 pips
Avg loss: 86 pips
Avg r/r: 1.9 to 1

Results by pair:

USD/CHF: 1 W, 3 L +812
USD/JPY: 2 W, 3 L +115
EUR/USD: 2 W, 0 L +69
USD/CAD: 2 W, 1 L +36
AUD/USD: 2 W, 1 L (-12)
EUR/JPY: 1 W, 3 L (-175)
GBP/USD: 0 W, 4 L (-351)
GBP/JPY: 0 W, 6 L (-679)

It seems that during the month of July I've reached another milestone in my trading career. If you look at the equity graph above, you'll notice that this is start of the 4th year of my results of trading with Forex Profit Monster. The funny thing is that during the past month since I've hit the mark of having an established and verifiable 3 year track record, I've been contacted by several entities regarding getting professionally involved with them. Some of these were brokers offering me the opportunity to become an "Introducing Broker" to other traders and handle transactions through them with a branded website, and others were small firms inquiring about my availability to trade other people's money.

While I can appreciate the opportunities that are now open to me after several years of trading, and I know that some traders would be excited to have the chance to expand their business with these opportunities, I really have no interest in getting involved with any of these scenarios. After reading the "horror" stories of other traders losing their freedom to trade as they see fit once they start to trade money for clients, I've decided not to follow this path, at least at this point in my life. I also have no interest in having to sell my current customers on using my services as a broker. I prefer to just keep trading my own account and offering my trading systems to those looking to learn how to trade a profitable method... these two things provide me with a nice living plus I get to keep total control of my business, which is important to me. I spent years looking for a business that I could run by myself without large overhead and having to deal with employees... I've achieved that in the past few years and am not really interested in changing it now. So I guess I'll chalk these experiences up to "it's flattering to be asked, but no thanks".

Speaking of "track records", here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)

Total: +4,022 pips
Average: 574 pips per month

For more information about Forex Profit Monster (or my day trading system Forex Day Monster), visit www.forexprofitmonster.com.

To purchase either or both trading systems, visit www.forexprofitmonster.com or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting the Forex Profit Monster results blog, and best of luck in your trading!

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

Forex Profit Monster Results - June 2010

2010-07-07T15:06:00.005-04:00

As is expected after a large winning month like I had in May (+4,597 pips), there was a lot of ranging and many false breakouts across the 8 pairs I trade on the 4 Hour chart as price settled down in June. In the past I've considered taking a week or two off from trading after large winning months to avoid some of the losses that are almost guaranteed, but I don't... because part of being successful when trading a trend following method (like I do) is to take EVERY signal. While most times after large moves there is some ranging, sometimes the new trend is established very quickly on the very next signal. History shows this to be more true the higher the time frame you trade... you'll see it many times on the Daily chart (higher time frames = less noise). Missing these new trends because of adding a rule about NOT trading could end up making the system less profitable instead of more profitable! Once again there is a lesson here... to be a successful trader you must learn to accept your losses. As long as you know history shows you that your losses are smaller than your profits, there is no reason to get upset when you have a loss.

Even though the month of June was a losing month for me, there are still a few trades open from June that continued into July that show a profit in equity of almost as much as June's losing trades. As of this writing the USD/CHF is showing an open equity profit of over 1,000 pips alone! Continued moves in these trends means that I could see a new high in my account balance as early as the end of July.

Here are the results from June on the 4 Hour chart:

36 trades
10 wins: 1,087 pips
26 losses: 2,957 pips
Total: (-1,870 pips)

27% win rate
Avg win: 108 pips
Avg loss: 113 pips
Avg R/R: .95 to 1

And the details by currency pair:

EUR/JPY - 2W, 2L - (-4 pips)
USD/JPY - 1W, 2L - (-39 pips)
EUR/USD - 2W, 3L- (-81 pips)
GBP/USD - 1W, 2L - (-146 pips)
USD/CHF - 0W, 3L - (-213 pips)
USD/CAD - 1W, 3L - (-238 pips)
AUD/USD - 1W, 6L - (-563 pips)
GBP/JPY - 2W, 5L - (-586 pips)

Here are the results for the year 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)

Total: +4,207
Average: 701 pips per month

For more information about Forex Profit Monster (and my daytrading system Forex Day Monster), visit www.forexprofitmonster.com.

To purchase, visit the website or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/

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

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

Forex Profit Monster Results - May 2010

2010-06-05T19:43:00.006-04:00

As you can see from the sharp rise in the equity graph above, May provided an excellent increase to my account! After what's been a relatively "sleepy" year so far, one of the dramatic price movements that I've been expecting to happen this year happened during May. It's important to understand that when trading this system (or any trend following system) you will go through periods where you have small wins, small losses and break even times. It may test your discipline to stick to trading during these times, but if you can do it you can reap the rewards in months like May.

If you are familiar with the concept of black swans (if not, you should read a copy of Nicolas Taleb's book "The Black Swan - The Impact of the Highly Improbable") then you're already familiar with how FPM generates profits. It basically provides small returns until an unexpected major market move (black swan) occurs. Most traders and investors are caught off guard during black swan events and end up losing a lot of money. FPM is designed to capitalize on these events, and May 2010 was one of those months.

I don't usually make predictions about the market (well, OK, I sometimes do, I just don't allow those predictions to influence my trading) but my personal feeling is that May isn't the only month like this we're going to see in 2010. With all of the economic problems in Europe continuing to grow, and the economic problems we continue to see here in the U.S., I'm reasonably sure there will be more "black swans" not too far away.

The other nice thing about FPM is that it doesn't rely solely on "black swans" for profits... when the day comes that we do see a real recovery and a new "bull" market, I'll be in a position to profit from those sustained trends as well!

OK, let's get to the details of the May 2010 results (from the 8 pairs I trade on the 4 Hour chart):

17 total trades

8 wins: 5,485 pips
9 losses: 888 pips

Total: +4,597 pips

47% win rate

Avg win: 685 pips
Avg loss: 98 pips
Avg R/R: 6.98 to 1

Results by pair:

GBP/JPY - 1 W, 1 L +1001
EUR/JPY - 1 W, 2 L +754
AUD/USD - 1 W, 1 L +695
GBP/USD - 1 W, 1 L +676
USD/CHF - 1 W, 0 L +635
EUR/USD - 1 W, 2 L +390
USD/CAD - 1 W, 1 L +229
USD/JPY - 1 W, 1 L +217

Here are the results for the year 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597

Total: 6,077 pips
Avg: 1,215 pips per month

For more information about Forex Profit Monster (and the day trading system Forex Day Monster), visit www.forexprofitmonster.com.

To purchase FPM or FDM visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/

That's it for May... hope your month was as profitable as mine and here's to more pips in 2010!

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

Forex Profit Monster Results - April 2010

2010-05-06T14:16:00.007-04:00

April started off looking great with over 1,700 pips of profit in equity... but quickly turned into one of those ranging months that whipsaws your open profits away. The month's total loss was only (-446 pips), once again a blip on the radar screen according to the big picture (look at the chart above... can you even see the drawdown?) In fact as I write this results post the market has been moving fast and furious again and every pair I trade has an open trade that is well into profit... well over 3,000 total pips right now. While I obviously won't count these pips as profit yet (you only have to look at April to understand why you can't do that), I feel good knowing that these trades are there to help me reach a new high in my account balance before the end of May.

During months like April I inevitably get questions about why I don't close out the trades when they're "overextended" and take the profits before they can retrace. It's simple... you're looking at the trades with hindsight. You know now that they retraced and set up in ranges that cost the open equity... but you didn't know that when it was the present time and you had to make the decision. It's just as likely that the moves could have continued in the same direction and instead of losing 446 pips in April I could have profited 4,000 pips! But if you exited the trades early before getting an exit signal you would have missed out on these pips. A similar situation is setting itself up for May as we speak... if I close out the 3,000+ pips I have now will I be better off than waiting to see if the moves continue? Maybe, maybe not... but I don't have to make this decision... I let my trading plan/system make it for me. This removes my emotional attachment to the "paper" equity money that I don't really have yet and allows me to make intelligent decisions regarding my trend following. When you start second guessing your trading plan is when you invite disaster. FPM has proven itself to be extremely reliable and resilient (again, look at the graph above of my account value in pips since I started tracking my live trading). Have a good plan (including good money management) and stick to it... and forget about your small losses... they don't do any damage to your trading... only your emotions about them do!

Here's a breakdown of my April results trading the 8 pairs I trade on the 4 Hour chart:

42 total trades
14 wins - 1,932 pips
28 losses - 2,378 pips

(-446 pips)

33% win rate

Avg win - 138 pips
Avg loss - 84 pips
Avg risk/reward ratio - 1.64 to 1

Here are the details by currency pair (best to worst):

USD/JPY: 2 W, 2 L +252 pips
GBP/JPY: 2 W, 4 L + 88 pips
USD/CHF: 3 W, 1 L + 34 pips
EUR/USD: 1 W, 3 L (-28 pips)
EUR/JPY: 2 W, 4 L (-160 pips)
AUD/USD: 1 W, 5 L (-199 pips)
USD/CAD: 1 W, 4 L (-214 pips)
GBP/USD: 2 W, 5 L (-219 pips)

That's it for April... if we don't see a repeat of all of this open equity vanishing I'll once again be at a new account high by the end of May!

Here are the results for the year so far:

January: +823
February: +669
March: +434
April: (-446)

Total: 1,480 pips
Avg: 370 pips per month

For more information regarding the Forex Profit Monster system (and my day trading system Forex Day Monster) visit www.forexprofitmonster.com.

To purchase either system visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for reading this and best of luck in your trading!

Jim

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

Forex Profit Monster - Results March 2010

2010-04-05T13:02:00.007-04:00

March 2010 is officially in the "books", and was another winning month for Forex Profit Monster. As you can see from the total pip equity above, I'm once again at an all-time equity high... with a total of 43,803 pips won since I started tracking the live results in the summer of 2007.

Here are the results for March for the 8 pairs I trade on the 4 Hour chart:

38 total trades
11 wins - 2,485 pips
27 losses - 2,051 pips

Total pips: +434

29% win rate
Avg win: 225 pips
Avg loss: 75 pips
Avg Risk/Reward ratio: 3 to 1

Results by currency pair:

GBP/USD 2 W, 3 L +682
USD/CAD 2 W, 0 L +279
GBP/JPY 1 W, 5 L +210
AUD/USD 1 W, 2 L (-11)
USD/JPY 1 W, 4 L (-51)
EUR/JPY 1 W, 2 L (-76)
EUR/USD 2 W, 4 L (-262)
USD/CHF 1 W, 7 L (-337)

FPM was able to show a profit for the month even though the win/loss ratio for the trades was only 29%! Once again, having the discipline to stick to the trading system is just as important as the trading system itself.

It's also important to note that as I post this entry I'm sitting on about 1,700 pips of open profit on 5 trades. These trades were all opened toward the end of March and are providing a nice head start for April's profits :-)

Here are the results for the year so far as we've reached the end of the first quarter of 2010:

January: +823
February: +669
March: +434

Total: 1,926 pips
Avg: 642 pips per month

While I trade the 4 Hour chart, I want to take a moment to discuss trading the Daily chart with FPM. I get a lot of questions from traders wanting to know if FPM is only profitable on the 4 Hour time frame, and if that is why I concentrate on 4 Hour charts. The answer to this is... NO! FPM can be used on any currency pair and any time frame (although I do recommend using 1 Hour charts and above)... it's not "curve-fitted" for any particular currency pair or any time frame (again, look at the graph of the results above that spans across the past 3 years). I trade the 4 Hour chart because it suits my trading personality. If you need to trade a Daily chart because you work a full-time job and can't commit to trading a lower time frame or because you'd rather only spend a few minutes a day trading, FPM works just as well on a Daily chart. Of course you'll have to be more patient in waiting for trends to develop (you'll get fewer signals) and you'll also have to have the discipline to stay in a profitable trade longer, but the system works just as well on a Daily chart. Here's a Daily chart of the EUR/USD since January 2009:

The ability to profit from the Forex is there... with the proper trading system and the ability to stick to the rules you can be successful even if you only have a few minutes a day to devote to trading.

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

To purchase either of my trading systems please visit my eBay page: http://myworld.ebay.com/jimsgr8stuff4less/

Thanks, and best of luck in your trading!

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

Forex Profit Monster Results - February 2010

2010-03-07T05:04:00.008-05:00

It's official... I'm back to a new total equity high as of the close of business for the month of February (as you can see from the graph above)!

Not only was February a profitable month with a total win of 669 pips, but I also carried 4 profitable trades forward into the month of March. These trades had a current equity value of over 1,500 pips total at the beginning of the month, which means the month of March looks like it will be another profitable month for me with Forex Profit Monster.

Here are the FPM results for the month of February:

26 trades
10 wins: 1,959 pips
16 losses: 1,290 pips

669 pips total profit
38% win rate

Avg win: 196 pips
Avg loss: 80 pips
Avg R/R: 2.45 to 1

Here are the details of the 8 pairs I trade on the 4 hour chart in order of performance (best to worst):

GBP/JPY- 2 wins, 0 losses: 326 pips
GBP/USD- 1 win, 1 loss: 312 pips
AUD/USD- 2 wins, 2 losses: 251 pips
USD/CHF- 2 wins, 3 losses: 148 pips
EUR/JPY- 1 win, 2 losses: 140 pips
USD/CAD-1 win, 3 losses: (-25 pips)
USD/JPY- 1 win, 2 losses: (-43 pips)
EUR/USD- 0 wins, 3 losses: (-340 pips)

I usually try to take some time when I post my monthly results to add some insight about my trading system or trading in general. It's important to understand that trading is much more than the trading system itself... and once again I'd like to cover this topic.

Each month when I post my results I inevitably get at least several emails from people also trading the system asking why their results differ from mine. These questions range from having a different number of wins and losses on a pair to a "discrepancy" in the number of pips won or lost. Sometimes the person contacting me has fared worse than I have, sometimes the person has actually fared better than I have... but they still want to know why their results don't match mine. Either way, the answer for the difference(s) is simple... you're trading your account, not me, so of course your results are going to be different than mine!

I know that may sound like a sarcastic thing to say, but there's no other way to put it. There are many reasons why no two traders will have the same results from trade to trade (or even from month to month or year to year) even though they are using the same trading system on the same time frame. Some of these include your broker's price feed, the time your broker closes the candle/day (therefore changing your entry/exit time and price), and a broker's spread and slippage. However the most important difference isn't found because brokers are different, but that each TRADER is different. While FPM is a mechanical system, there can be some discretion involved... especially regarding exits. There are three types of exit methods for the trader to choose from; which one a trader chooses is going to cause results to be different... and not every trader is going to exit at the exact same time even using the same strategy.

For instance, I personally trade FPM as a trend following system. I never use support/resistance as an exit strategy anymore, although I did early on in my development of the system. Now I mainly use the Fast Trend cross as my exit signal, but even then I don't always exit right away on the cross (this doesn't happen on every trade, most times the exit signal is clear and mechanical). However occasionally depending upon the current state of the trend (how established it is) and my analysis of the current price action (by reading candlesticks and monitoring price divergence from the indicators) I may tighten my stop (to avoid larger than necessary losses if I'm incorrect) and stay in the trade for a little bit longer before exiting. I especially do this to try and maximize my wins on an established trend. Sometimes this strategy keeps me in a trend for a longer period of time for more profit... sometimes it causes me to accept a slightly smaller win on a single trade then I would have had by exiting right away at the Fast Trend cross, but overall I find it has a positive effect on my profitability.

This is just one example of why my results may differ from yours. Another question that I'm asked about often that can have an effect on results is whether or not I take re-entry trades as defined in the User Guide. The answer to that once again involves discretion. If I can justify a reason for re-entering a trade I recently exited (again, reading candlesticks and using price divergence) I will enter the trade. If not, I wait for another large Entry Arrow (and for the Slow and Fast Trends to agree) before I enter another trade. I don't take re-entry trades often as many times the white arrows used as part of the signal for a re-entry trade can also signal that a currency pair has entered into a range. One rule I do have regarding re-entry trades is that if the first one I enter ends up in a loss I don't enter a second one (again because the pair could be entering a tight range). My advice to most beginning traders is to avoid re-entry trades until you have enough experience to use some of your own discretion... it's better to miss a move or two than to experience more losses than necessary due to extra whipsaws.

The last important item to cover regarding this topic is this... Forex Profit Monster CAN be traded as a completely mechanical system as explained in the User Guide and still show a profit over time. However, as you become more adept at using FPM and develop or increase your knowledge and experience as a trader you can occasionally add some of your own discretion to an exit strategy to increase your profits in the long run. But it doesn't matter if you're trading the system as a "black and white" mechanical system, or sometimes using a "shade of gray" exit strategy, you must understand that your results are YOUR results. Comparing your results to my results (or anyone else's results) on a pip by pip or even trade by trade basis has no real value. To become a successful trader for the long run you must focus on your own trading plan and become disciplined and consistent so that you may become consistently profitable... that is the real key to long term success in the trading profession!

That's it for February... here are the yearly results for 2010 so far:

January: +823 pips
February: +669 pips

Total for 2010: + 1,492 pips

For more information about Forex Profit Monster (and my day trading system Forex Day Monster), visit www.forexprofitmonster.com.

To purchase either Forex Profit Monster or Forex Day Monster visit my eBay page at:
http://myworld.ebay.com/jimsgr8stuff4less

Best of luck in your trading!

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

Forex Profit Monster Results January '10

2010-02-02T11:27:00.007-05:00

It's another winning month for FPM in January with a total win of 823 pips. The great news is that with the pips won this month (along with almost 900 more pips of profit across 4 trades still open as we've moved into February), I've erased the drawdown entered in November and am once again at a new equity high!

Here are the results for January on the 4 Hour chart across the 8 pairs I trade:

30 trades total

11 wins - 2,395 pips
19 losses - 1,572 pips

Total: +823 pips

37% win rate

Avg win: 217
Avg loss: 82
Avg R/R: 2.64 to 1

Here are the results for January by each currency pair:

EUR/JPY 2 wins, 2 losses: +654 pips
USD/CAD 2 wins, 1 loss: +339 pips
AUD/USD 1 win, 0 losses: +237 pips
EUR/USD 2 wins, 3 losses: +182 pips
USD/JPY 1 win, 4 losses: +128 pips
USD/CHF 1 win, 1 loss: (-50 pips)
GBP/USD 1 win, 4 losses: (-241 pips)
GBP/JPY 1 win, 4 losses: (-426 pips)

That's it for January... and with the winning trades still open it looks like a good start for the month of February.

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

Best of luck in your trading!

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

FPM Results - December 2009 & Year 2009

2010-01-06T14:22:00.014-05:00

Hard to believe it's time to post the FPM December results and the year end results for 2009!

First things first... yes, December was a "winning" month. I'll get to more details on that, but first I'd like to talk about what's been happening since I posted the November results.

Many people have been contacting me over the past couple of weeks asking how FPM is doing after having the "worst monthly results ever" in November. Most of these emails are from people who are genuinely interested in the system performance and how I'm personally doing in my trading because they are considering purchasing FPM, but some of them are from the "detractors" who like to come out of the woodwork every time I have a losing month (which by the way, isn't often). It's amazing to me that there are actually people in this world who get satisfaction out of what they perceive as the downfall of someone who is experiencing success. I guess it's due to their inability to achieve success in the first place and it makes them feel better to think that someone else isn't successful anymore either.

What these "detractors" don't realize is they're missing the point. One month's results doesn't make or break a good trading system. No one wins every month, and if this is what you think is necessary to be a successful trader you'll NEVER be a success. Winning more pips over time than you lose is what makes a successful Forex trader (and system), and a quick look at the equity graph at the top of this post and on the homepage of www.forexprofitmonster.com shows how successful FPM has been over the past two and a half years (actually more than 3 years since I started testing it).

The other point that everyone who refers to November as the "worst month ever" for FPM is missing is that the system has had losses of over 1400 pips in a month before. These types of draw downs are typical in a trend following system... it's just that this time the calendar month ended during one of these draw downs before the trends that supply the winning pips began.

This is evident if you change the time frame that you use in posting the results. By adding a week before and after the month of November into the results, we can reduce the loss by almost 50% to well under 1,000 pips. If we combine the months of September, October and November the results become positive... + 1,175 pips, or +391 pips per month on average. Do you see how the results can be manipulated by changing the time frame used? The only important thing is the end result... is the system profitable over the long haul? Again, look at the historical equity curve posted at the top of this post and the answer is clear.

This lesson also shows how important trading psychology and money management are to a trader. If you're unwilling to continue trading after suffering losses like I did in November, you will miss out on the profits that will negate the losses. And if you're not using proper money management you definitely won't be around to enjoy those profits because the money in your account will be gone by the time the trends start again. That's why it's so important that you read and understand the material supplied with Forex Profit Monster regarding those subjects.

Now on to the December results on the 4 Hour chart across the 8 currency pairs I trade, followed by the year end results for 2009:

December 2009

32 total trades
10 wins: 1,938 pips
22 losses: 1,536 pips
Total: +402 pips

Win rate: 31%

Avg win: 193 pips
Avg loss: 69 pips
Avg Risk/Reward: 2.79 to 1

Results by pair:

EUR/USD - 2 wins, 1 loss +461 pips
GBP/JPY - 2 wins, 4 losses +304 pips
GBP/USD - 2 wins, 2 losses +173 pips
AUD/USD- 1 win, 3 losses + 74 pips
USD/CHF- 1 win, 2 losses + 37 pips
USD/JPY - 0 wins, 2 losses (-197 pips)
USD/CAD - 2 wins, 5 losses (-222 pips)
EUR/JPY - 0 wins, 3 losses (-228 pips)

That's it for December... officially a 402 pip profit for the month, but since January has started I have closed out a couple of winning trades and have opened a few more that have moved well into profit... these trades show a current profit in equity of over 900 pips which is a good sign that January will end up as a profitable month as well.

Now for the final results for the year 2009 by month:

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)
September: 1,530 pips
October: 1,047 pips
November: (-1,402 pips)
December: 402 pips

10 winning months: 12,116 pips
2 losing months: 1,632 pips
Total profit: 10,484 pips

Win rate: 83%
Avg pips per month: 873 pips

These results translated into a 62% account increase for the year. While it's not the 300% achieved in 2008, it's certainly still an excellent year.

So there are the results... a good December and a good 2009. What will happen in 2010? As those of you who follow this blog know I don't allow any market predictions to influence my trading, but it's only human nature to wonder what will happen and to have an opinion. If I had to make one, I'd say that the U.S. Dollar is in a precarious position. The Fed will not be able to keep interest rates at or near zero through all of 2010... and this alone will cause some longer term trends to break out in the Forex this year as the monetary policy in the U.S. turns from focusing on boosting the economy to controlling inflation. Also, if the U.S. employment doesn't experience some real growth (as opposed to the "fake" growth being propped up and falsely reported by the Obama administration) the U.S. Dollar could be in for even more large moves. Hang onto your hats... it's going to be an interesting year in the U.S. financial markets.

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

To purchase either (or both) systems, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less

Whatever happens in 2010 I wish you and your family a healthy, happy and profitable New Year!

Jim

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

Forex Profit Monster - November Results

2009-12-08T16:05:00.012-05:00

November was a tough month for trend trading the Forex. Almost every pair was in a range and there were a lot of false breakouts. It's times like these that test your discipline. Having losses and months like these isn't the problem... it's not taking your losses until they become bigger then they should or getting upset/mad and letting it affect your trading decisions. It took me a long time to learn this... and it's still hard to control after several years of trading. However, time is on my side... there will always be good trends (especially in the currency market) and a quick glance at the equity chart above that spans over two years shows the power of trading this system. If I just showed you the graph you probably wouldn't even notice the drawdown that I entered into at the end of November... that's because in the grand scheme of things it's just a blip on the radar screen.

The other thing to note is that even though November ended up being a losing month, I did close out several trades in the first few days of December that accounted for enough pips to wipe out almost 50% of the draw down already! Plus, I have some good trades that I've opened over the last couple of days that look like they may take care of the rest. I don't know what will happen the rest of December (especially because it will be shortened by the holidays) but I am confident that my equity will be hitting new highs very soon.

Here are the details of my November results trading the 4 Hour chart:

38 trades taken
12 wins - 896 pips
26 losses - 2,298 pips

Total - (-1402 pips)

Win rate - 31%

Avg win - 74 pips
Avg loss - 88 pips

And the results by each pair that I trade:

USD/JPY - 1 win, 1 loss - +176 pips
AUD/USD- 1 win, 3 losses - + 2 pips
EUR/JPY- 2 wins, 2 losses- (-1 pip)
EUR/USD- 1 win, 4 losses- (-180 pips)
USD/CHF- 2 wins, 4 losses- (-218 pips)
GBP/USD- 3 wins, 4 losses- (-290 pips)
GBP/JPY- 0 wins, 4 losses- (-442 pips)
USD/CAD- 2 wins, 4 losses- (-449 pips)

So there goes November... and I can't say I'm sorry to see it go :-)

For those of you having a hard time dealing with your whipsaw losses for November and doubting the effectiveness of this system (or any trend following method), here's a video that sums everything up you need to know and should put a smile on your face. It's by one of the most successful trend followers of all time (and a pretty good banjo player too); Ed Seykota and "The Whipsaw Song":

Here's the overall monthly totals for the year so far:

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
November - (-1,402 pips)

That's a total of 10,082 pips so far for 2009, an average of 916 pips per month.

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

To purchase either Forex Profit Monster or Forex Day Monster visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less

Best of luck in your trading!

Jim

www.forexprofitmonster.com

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Results for October

2009-11-02T13:09:00.013-05:00

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

2009-10-02T21:37:00.005-04:00

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

2009-09-07T16:37:00.007-04:00

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

2009-08-01T13:08:00.005-04:00

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

2009-07-08T00:38:00.005-04:00

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

2009-06-06T13:27:00.005-04:00

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

2009-05-06T13:29:00.009-04:00

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

2009-04-02T14:13:00.005-04:00

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

2009-03-09T11:15:00.008-04:00

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

2009-02-09T18:00:00.003-05:00

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

2009-01-08T14:24:00.008-05:00

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

2008-12-08T22:11:00.004-05:00

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

2008-11-12T11:46:00.004-05:00

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

2008-11-11T23:30:00.013-05:00

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???

2008-11-07T11:14:00.022-05:00

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

2008-10-08T23:52:00.007-04:00

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

2008-09-16T13:21:00.021-04:00

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

2008-08-06T16:07:00.007-04:00

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

2008-06-30T10:30:00.014-04:00

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

2008-06-25T12:38:00.004-04:00

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

2008-06-03T15:10:00.004-04:00

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

2008-05-15T13:34:00.006-04:00

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...

2008-03-20T11:25:00.007-04:00

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

2008-02-28T15:13:00.013-05:00

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...

2008-02-23T13:44:00.011-05:00

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

2008-02-13T09:46:00.011-05:00

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!

2008-02-01T19:02:00.000-05:00

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

2008-01-29T17:52:00.000-05:00

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

2008-01-25T04:31:00.001-05:00

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

2008-01-18T16:07:00.000-05:00

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

2008-01-17T03:47:00.001-05:00

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????

2008-01-14T18:36:00.000-05:00

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!

2008-01-12T01:05:00.000-05:00

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

2008-01-09T17:47:00.000-05:00

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

2008-01-08T16:38:00.000-05:00

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'...

2008-01-07T16:43:00.000-05:00

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

2008-01-04T15:12:00.000-05:00

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

2008-01-03T15:11:00.000-05:00

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!

2008-01-02T16:01:00.000-05:00

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/