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
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