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

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

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

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

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

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

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

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

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

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

Jim

http://www.forexprofitmonster.com/

Forex Profit Monster Continues Winning Ways...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Jim

http://www.forexprofitmonster.com/

February Off To A Good Start

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

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

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

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

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

Best of luck in your trading!

Jim

http://www.forexprofitmonster.com/

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

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

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

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

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

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

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

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

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

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

Jim
http://www.forexprofitmonster.com/