Follow Up To Yesterday's Forex Day Monster Trades

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

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???

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/