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/