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
