Forex Profit Monster - November Results

November was a tough month for trend trading the Forex. Almost every pair was in a range and there were a lot of false breakouts. It's times like these that test your discipline. Having losses and months like these isn't the problem... it's not taking your losses until they become bigger then they should or getting upset/mad and letting it affect your trading decisions. It took me a long time to learn this... and it's still hard to control after several years of trading. However, time is on my side... there will always be good trends (especially in the currency market) and a quick glance at the equity chart above that spans over two years shows the power of trading this system. If I just showed you the graph you probably wouldn't even notice the drawdown that I entered into at the end of November... that's because in the grand scheme of things it's just a blip on the radar screen.

The other thing to note is that even though November ended up being a losing month, I did close out several trades in the first few days of December that accounted for enough pips to wipe out almost 50% of the draw down already! Plus, I have some good trades that I've opened over the last couple of days that look like they may take care of the rest. I don't know what will happen the rest of December (especially because it will be shortened by the holidays) but I am confident that my equity will be hitting new highs very soon.

Here are the details of my November results trading the 4 Hour chart:

38 trades taken
12 wins - 896 pips
26 losses - 2,298 pips

Total - (-1402 pips)

Win rate - 31%

Avg win - 74 pips
Avg loss - 88 pips

And the results by each pair that I trade:

USD/JPY - 1 win, 1 loss - +176 pips
AUD/USD- 1 win, 3 losses - + 2 pips
EUR/JPY- 2 wins, 2 losses- (-1 pip)
EUR/USD- 1 win, 4 losses- (-180 pips)
USD/CHF- 2 wins, 4 losses- (-218 pips)
GBP/USD- 3 wins, 4 losses- (-290 pips)
GBP/JPY- 0 wins, 4 losses- (-442 pips)
USD/CAD- 2 wins, 4 losses- (-449 pips)

So there goes November... and I can't say I'm sorry to see it go :-)

For those of you having a hard time dealing with your whipsaw losses for November and doubting the effectiveness of this system (or any trend following method), here's a video that sums everything up you need to know and should put a smile on your face. It's by one of the most successful trend followers of all time (and a pretty good banjo player too); Ed Seykota and "The Whipsaw Song":


Here's the overall monthly totals for the year so far:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)
September - 1,530 pips
October - 1,047 pips
November - (-1,402 pips)

That's a total of 10,082 pips so far for 2009, an average of 916 pips per month.

For more information about the Forex Profit Monster system (or my day trading system Forex Day Monster), visit www.forexprofitmonster.com

To purchase either Forex Profit Monster or Forex Day Monster visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less


Best of luck in your trading!

Jim

www.forexprofitmonster.com

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Results for October

First things first before we get to posting the October results. Last month I added an equity graph to the homepage of http://www.forexprofitmonster.com/ to show my progress with the Forex Profit Monster trading system since I stopped testing it and started trading the system in 2007. The updated graph with the October results is below. I'll be posting it here on the blog each month to give a visual aid to show the total pips gained over time. That total as of the end of October 2009 now stands at 42,877 pips.

While I'm introducing the equity graph I'd like to take a minute to address a question I get every once in awhile. Some people ask me why I post the FPM results in pips instead of dollars. Well, that's easy. Pips is the only way to give an accurate representation of how any Forex trading system performs. You can adjust how much risk you're willing to take (and therefore how much money you'll make) and draw your own conclusions.

Forex scammers will try to appeal to your greed by telling you how much money you'll make when you trade their system. They'll cherry pick a good trade that gained a couple of hundred pips and tell you that you "could've made $2,000!!!". What they don't tell you is that you'd have to trade a standard contract and that this is crazy (not to mention pretty much impossible) for a new retail trader to do. If I wanted to operate this way I'd be posting dollar results based on some unrealistic value for most people. Instead of posting a 1,047 pip gain for October I'd tout "FPM generates over $52,000 in profits for the month of October!!!". Now that would be true if you were trading 5 standard contracts and had an account large enough to withstand the small losses until the profits were made. However most people who are attempting to become retail traders are starting with very small accounts and will be trading mini, micro or nano lots... and trying to prey on their hopes of making a lot of money by trading is disgusting and I won't be a party to it.

You also have to learn that different currency pairs have different volatility and you can't trade the same lot size on every pair. This is a key principle in proper money management and until you implement it you will never be consistently profitable if trading pairs with different volatilities. For instance, a single loss on a volatile pair like GBP/JPY can wipe out more than one win on a pair like EUR/USD if you're trading the same lot size on both pairs. This is why learning to manage the money in your account properly is so important and why I wrote an eBook that I include in the Forex Profit Monster (and Forex Day Monster) system to help people learn proper money management.

OK... let's get to the results. Trading is over for October and it was another great month for Forex Profit Monster! I was able to generate 1,047 pips of profit across the 8 currency pairs that I trade on the 4 Hour charts. Here are the details:

26 trades taken

12 wins - 2,717 pips

14 losses - 1,670 pips

Total pips won: 1,047

46% win rate

Avg win - 226 pips
Avg loss - 119 pips

Avg risk/reward ratio - 1.9 to 1

Here are how the 8 pairs performed individually (from best to worst):

EUR/JPY - 1 win, 1 loss: +431 pips
USD/CAD - 2 wins, 1 loss: +416 pips

AUD/USD - 2 wins, 1 loss: +363 pips

USD/CHF - 3 wins, 1 loss: + 52 pips

EUR/USD - 2 wins, 0 losses: + 48 pips

GBP/USD - 1 win, 4 losses: 0 pips

GBP/JPY - 1 win, 3 losses: (-50 pips)

USD/JPY - 0 wins, 3 losses: (-213 pips)

This was a great month, but it was almost better! I was up over 1,600 pips at one point before the Pound decided to become so volatile over the past week of the month. I ended up losing my profits that I was sure I would book on the GBP/JPY and GBP/USD for October in the last few days of the month. That's why you can't count on any money until you exit the trade!

This is an important detail to cover. I've mentioned it before but it's extremely important to reiterate. You have to make trading psychology a high priority if you're going to be a successful trader. You can't get upset when you lose. Sure, it would have been great to close out October with an extra 500 or 600 pips, but if I didn't have the grasp of my emotions like I do I never would have been in the position to make even the 1,047 pips this month! That's why I include this information with Forex Profit Monster (and Forex Day Monster), so new traders and unsuccessful traders can get a handle on how important it is to their success. While I'm only human and wasn't happy about losing those pips, I'm also in control enough to not let it affect my trading.

That's it for October. Let's take a look at how FPM has performed so far this year:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)
September - 1,530 pips
October - 1,047 pips

That's a total of 11,484 pips so far for 2009, an average of 1,148 pips per month.

For more information about Forex Profit Monster (or my day trading system Forex Day Monster), visit my website at http://www.forexprofitmonster.com/. To purchase either system visit my page at eBay at http://myworld.ebay.com/jimsgr8stuff4less/.

Thanks, and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less/

Forex Profit Monster Results September 2009

Here are the results for Forex Profit Monster for September. As expected with the summer vacation season over we saw more trends finally break out. There were a lot of nice trends on the 8 pairs that I trade, and the small drawdown that I entered into earlier in the summer has now been eliminated... and the total pips for the year is at a new high again as this month ended with a profit of 1,530 pips.

Here's the breakdown of September:

32 total trades taken on the 4 Hour chart across 8 currency pairs

18 Wins for a total of 2,546 pips
14 Losses for a total of 1,016 pips

For a total win of 1,530 pips

56% win rate

Average win: 141 pips
Average loss: 72 pips

Average Risk/Reward ratio: 1.95 to 1

Here's how the individual pairs performed (in order of best to worst):

GBP/USD 3 wins, 0 losses: +564
GBP/JPY 3 wins, 1 loss: +542
EUR/USD 2 wins, 0 losses: +401
USD/JPY 3 wins, 1 loss: +167
USD/CHF 1 win, 2 losses: +167
EUR/JPY 3 wins, 2 losses: + 58
AUD/USD 1 win, 4 losses: (-127)
USD/CAD 2 wins, 4 losses: (-242)

Here's where we stand for the year to date at the end of the 3rd quarter:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)
September - 1,530 pips

That brings our grand total for the year to 10,437 pips, which is an average of 1,160 pips per month.

For more information about the Forex Profit Monster trading system (or the Forex Day Monster day trading system) visit my website at http://www.forexprofitmonster.com/. To purchase either system please visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your September was as profitable as mine, and here's to many pips flowing into your account!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less/

Forex Profit Monster Results for August

It's one of my least favorite times of the year... the Labor Day Weekend holiday here in the U.S. Around my house the Labor Day parties are over, friends and family have gone home, and I finally have a few minutes to sit down and post the August results.

The Labor Day Weekend holiday means the unofficial end of summer. I'm a big fan of summer... I especially enjoy the warmer weather and my vacation time at the beach. There is one thing I won't miss about this summer... the doldrums in trading that added to the ranging of almost every currency pair that I trade. The past couple of summers saw some financial crises that caused huge moves in August, but not this year. This has probably been the slowest I've seen the 8 pairs I trade move in the 3 years I've been trading FPM. Is this the calm before the storm? I sure hope so! Not that I'm wishing for more financial problems that helped the slow times the past couple of summers, but I am glad to see us getting back to a "normal" schedule so that there will be less ranging due to vacation time.

Being a trend trader I don't take any time away from trading the 4 Hour charts, so even when I'm away on vacation I'm very diligent about getting to my charts on time to check for my entry and exit signals. I've been very disciplined about my trading in a time when it's been especially hard. During the past 3 months there's only been a couple of weeks where all of the profits have been made... and one of those weeks I was on vacation. I resisted the urge to take a break from my trading during my vacation and boy am I glad! If I had missed that week in July I would've really kicked myself... it was one of only a couple of weeks during a 3 month period where I made decent profits.

This is an important lesson for those of you who are learning to trade or who are struggling and trying to become successful. You can't pick and choose when you're going to trade when you trade a trend following method. You must trade a time frame where you can take every signal. Missing even a single trade can severely diminish your profitability (as evidenced this summer).

I know there have been some nice trends recently on the 1 Hour charts, and we're starting to see those trends move up to the 4 Hour time frame. While I closed the month of August out as a small losing month (-230 pips), in the first few days of September I've closed out a couple of trades that were opened in August on the GBP/JPY and USD/JPY for almost 500 pips combined to start out September.

Here are the results for August:

41 trades taken on the 4 Hour chart
14 wins - 1,838 pips won
27 losses - 2,068 pips lost

(-230 pips) total for the month

34% win rate
Avg win - 131 pips
Avg loss - 76 pips
Avg Risk/Reward - 1.72 to 1

Here's how the 8 pairs that I trade break down for August (in order of best performing pair to worst):

GBP/USD 3 wins, 1 loss - +478 pips
GBP/JPY 1 win, 1 loss - +175 pips
USD/JPY 2 wins, 1 loss - +103 pips
EUR/JPY 2 wins, 3 losses - +44 pips
USD/CAD 2 wins, 3 losses - (-115 pips)
USD/CHF 2 wins, 5 losses - (-238 pips)
AUD/USD 1 win, 6 losses - (-321 pips)
EUR/USD 1 win, 7 losses - (-356 pips)

This is only the second losing month I've personally had with Forex Profit Monster, the last one being September 2007 when I lost 173 pips; and at that time I wasn't being as consistent as I'm being now. I was also trading a lower time frame (1 Hour charts) and not trading all 8 pairs that I'm trading now to help spread my risk (for those wondering I made that switch in the beginning of 2008). So, will it be another 2 years before I see another losing month? Probably not... but let's hope so!

I'm off to a good start in September closing out the winning GBP/JPY trade for 335 pips and a winning USD/JPY trade for 142 pips. Bring on those trends!

Here's how FPM has been performing so far in 2009:

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips
July - 775 pips
August - (-230 pips)

Total pips so far in 2009: +8,907 pips (an average of 1,113 pips per month).

For more information about the Forex Profit Monster trading system visit my website at http://www.forexprofitmonster.com/ or to purchase visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less

Thanks for stopping by the blog and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Results for July

The month of July was a breath of fresh air after all of the ranging in June. It may not have been the most profitable month for Forex Profit Monster, but there were some nice trends on the 4 Hour chart and most of the pairs I trade generated at least small profits.

Below is a screen shot of the best performing pair of the month, the USD/CAD. The Loonie has been in a sustained downtrend again for quite some time (except for a brief period where the price of crude was dropping), and the U.S. GDP figures that were just released the other day gave the Canadian Dollar another boost as crude starting climbing again in reaction to the bad U.S. numbers. This USD/CAD short generated over 640 pips of profit for the month:


Here are the overall results for FPM for July on the 8 pairs I trade on the 4 Hour charts:

Total trades taken: 28
Winning trades: 9
Losing trades: 19
Win rate: 32%

Pips won: 2,394
Pips lost: 1,619
Total pips won: 775

Avg win: 266
Avg loss: 85

Avg Risk/Reward ratio 3.12 to 1

Here are how the 8 individual pairs I trade performed (in order of best to worst):

USD/CAD 1 win, 1 loss: +605 pips
GBP/JPY 1 win, 2 losses: +224 pips
EUR/JPY 1 win, 2 losses: +219 pips
AUD/USD 1 win, 1 loss: +149 pips
EUR/USD 2 wins, 2 losses: +136 pips
USD/JPY 1 win, 3 losses: +36 pips
GBP/USD 1 win, 4 losses: (-262) pips
USD/CHF 1 win, 4 losses: (-332) pips

For more information about Forex Profit Monster (and my day trading system Forex Day Monster) visit the website at http://www.forexprofitmonster.com/. To purchase either system visit my eBay page at: http://myworld.ebay.com/jimsgr8stuff4less.

There you go... another profitable month of trading with Forex Profit Monster. I hope you had a good month as well, and here's hoping for some great breakouts in August!

Jim
http://www.forexprofitmonster.com/

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Trading Results for June 2009

Here they are, the results for June. They can be summed up on the blog this way: "The month that was a small winner but on paper was a big loser". The reason for that was me including several large wins that closed out in the beginning of June with the May results.

As I mentioned in the May results post, I was late closing out my May trading logs and decided to include several trades that were opened in May but closed out with over 2,000 pips of profit in the first few days of June to the May results instead of the June results. Usually I include the pips won or lost in the month the trade is closed since the pips/money isn't "real" until the trade is closed, but for the May results I included those trades that closed in June and boy does it make a difference for the results this month. Instead of a month that would have been about a 250 pip winner, I ended up with a 2,022 pip loss on paper. The only decent size wins all happened at the beginning of the month, which left me with a few small wins and a bunch of losing trades the rest of the month as the pairs I trade on the 4 Hour time frame did nothing but range the rest of the month.

Here's how the rest of June fared:

Total trades: 43
Total wins: 8
Total losses: 35

Pips won: 1,083
Pips lost: 3,105
Total pips: (-2,022)

Win rate: 19%

Avg win- 135
Avg loss- 89

And here are the results by each pair that I trade:

GBP/JPY 2 wins, 2 losses - +216 pips
USD/CAD 1 win, 2 losses - +33 pips
USD/JPY 1 win, 3 losses - (-5 pips)
EUR/JPY 1 win, 2 losses - (-74 pips)
AUD/USD 1 win, 5 losses - (-277 pips)
EUR/USD 1 win, 5 losses - (-444 pips)
GBP/USD 1 win, 7 losses - (-595 pips)
USD/CHF 0 wins, 9 losses - (-876 pips)

Well, June brings us to the end of the first half of the year and here are the results so far (monthly results adjusted for the trades that closed in June that were originally included in the May results):

January - 3,795 pips
February - 890 pips
March - 779 pips
April - 151 pips
May - 2,494 pips
June - 253 pips

Total for first half of 2009: 8,362 pips

That's an average of 1,393 pips per month so far in 2009.

The other good news is that it looks like the ranging experienced for the past three weeks of June into the beginning of July is finally coming to an end as I currently have several trades open that are moving well into profit, so it looks like I won't be experiencing a repeat performance of most of June!

At the risk of being repetitive I'd like to take a minute to address some issues that I experienced this month as there are new traders coming to this blog all the time and I'm sure most don't take the time to read the posts from beginning to end.

I had a couple of traders who purchased FPM around the beginning of June who contacted me asking about the losses that they were experiencing due to the ranging and what they should do. The answer to this question is simple... nothing other than what you normally do. There are drawdowns in trading. You can't escape them, and if you're trying then you're just chasing that "Holy Grail" again! How large the drawdown is depends upon how much risk you're taking. If you manage your money correctly then your drawdowns with this system should never be overly painful. Even with the amount of losses sustained during the last 3 weeks of June my drawdown never passed the 20% mark, and this was the largest drawdown I've experienced since I've been trading FPM. I've said it before in these posts and I'll say it again... you have to become disciplined as far as trading psychology and money management are concerned. If you choose to ignore these subjects you're going to lose more than necessary during months like June and you won't be around to experience the trends that WILL occur not long after. Trade like a pro, not like a schmo! Wow... I think I may have found a new catch phrase for this blog...

If you'd like more information about the Forex Profit Monster trading system, please visit my website at http://www.forexprofitmonster.com/. To purchase FPM (or my day trading system Forex Day Monster) visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting the FPM blog, and best of luck in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster May 2009 Results

While these results are for the month of May, there were several trades for over 2,000 pips of profit that were opened during May but closed out during the first few days of June. I include these trades here because I am including them in my trading logs for May and so I'm posting them here. Before you ask, this has nothing to do with making sure May was a profitable month, as you'll see below. Before these trades were added to the closed log, May still showed a profit of over 2,000 pips :-) With these trades that total is now well over 4,000 pips. Here are the details of the results that I achieved on the 4 Hour chart:

Total trades taken: 34
Total wins: 22
Total losses: 12
Win rate: 65%

Total pips won: 5,764
Total pips lost: 995
Total pips profit: 4,769

Average win in pips: 262
Average loss in pips: 83

Risk/Reward ratio: 3.15 to 1

Here are the results for the pairs I traded by currency pair, in order of best to worst:

GBP/USD - 2 wins, 2 losses - + 1,041 pips
GBP/JPY - 2 wins, 1 loss - + 958 pips
USD/CAD - 2 wins, 1 loss - + 930 pips
EUR/USD - 4 wins, 1 loss - + 644 pips
EUR/JPY - 3 wins, 2 losses - + 465 pips
USD/CHF - 4 wins, 1 loss - + 424 pips
AUD/USD - 3 wins, 2 losses - + 303 pips
USD/JPY - 2 wins, 2 losses - + 4 pips

This is a fantastic month for Forex Profit Monster! With the May results that brings the total pips won for the year to 10,384... or 2,077 pips per month on average.

For more information about Forex Profit Monster, or my day trading system Forex Day Monster, visit the website at http://www.forexprofitmonster.com/. To purchase Forex Profit Monster or Forex Day Monster, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting my blog and best of luck to you in your trading!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

April 2009 Results for Forex Profit Monster

April was a tough month for trading the 4 Hour charts for me, but still a profitable one. The pairs I trade were almost all stuck in a range for most of April and there were only a couple of good solid trends across the 8 pairs, but it was still enough for me to profit a total of 151 pips for the month. While not the best month, a profit is a profit and I'm not going to complain!

Meanwhile I heard from some traders that were trading FPM on the 1 Hour chart and "cleaning up" with some spectacular moves... I hope to see some of those trends in May as they possibly move up to the 4 Hour chart.

Here's my overall FPM results for April:

Total trades: 34
Winning trades: 12
Losing trades: 22
Win rate: 35%

Pips won: 2,520
Pips lost: 2, 369
Total pips: +151

Avg win: 210 pips
Avg loss: 107 pips
R/R: 1.96 - 1

Here's how the individual pairs I trade performed:

GBP/JPY: +347 pips - 2 wins, 3 losses
USD/JPY: +167 pips - 1 win, 1 loss
EUR/JPY: +148 pips - 2 wins, 3 losses
GBP/USD: +119 pips - 2 wins, 2 losses
USD/CHF: (-24 pips) - 1 win, 3 losses
USD/CAD: (-123 pips) - 1 win, 3 losses
AUD/USD: (-150 pips) - 2 wins, 3 losses
EUR/USD: (-333 pips) - 1 win, 4 losses

Those are the results for April... if you'd like more information about Forex Profit Monster and how it works (or Forex Day Monster my day trading system designed for lower time frames), visit my website at http://www.forexprofitmonster.com/.

For purchase information for Forex Profit Monster or Forex Day Monster visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for visiting my blog and best of luck in your trading!

Jim

http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster March 2009 Results

Time to wrap up another week of trading on the afternoon before NFP is released tomorrow... and instead of knocking off early for the weekend I'm here to post on the blog the FPM results for the month of March.

It was another profitable month for FPM across the 8 currency pairs that I trade on the 4 Hour charts (listed below). I banked +779 pips this month... here are the overall results:

Trades taken: 33
Trades won: 11
Trades lost : 22
Winning percentage: 33%

Before I break down the information for you, now is a good time to stop and point something out to the traders who contact me wanting to know more about the win ratio of the Forex Profit Monster system. If you're going to trade this system as it's designed (as a trend following system) the win ratio of trades is NOT important. The winning percentage has varied anywhere from 25-80% per month... yet almost every month I've traded this system since the spring of 2007 has been profitable for me. That's almost two years! Sure some months I barely eek out a profit and some months are large windfalls (October 2008)... but the point is the win ratio is NOT important. If you continue to focus on the win ratio of a trading system you are focusing on the wrong aspect of the system. There are a lot of trading systems being hawked on the internet with "80-90% win rates". People flock to them thinking they've found an automated cash machine... only to find out that these systems contain ridiculous Risk/Reward ratios like a 10 pip take profit with a 250 pip stop loss. It's not too hard to see what happens here... if this trading system wins 9 out of 10 trades you will quickly lose your shirt. Your profit potential will be 90 pips over 9 wins and your 1 loss may be up to 250 pips! Do you see how ludicrous that is?

The important thing in trading is to keep your losers as small as possible (exit when you get an exit signal) and let your winners run (again... don't exit until you get an exit signal). That is how Forex Profit Monster works... and why it delivers profits as well as it does. Are there losing trades? Sure... in fact this month there were twice as many losers as winners but I still profited 779 pips.

OK... with that out of the way, here are the rest of the results...

Pips won: 3,469
Pips lost: 2,690
Total pips: +779

Average win: 315
Average loss: 122

Average R/R ratio: 2.58 to 1

Here's how each of the 8 currency pairs I trade performed in March (from best to worst):

EUR/USD - 2 wins, 0 losses - +910 pips
GBP/USD - 2 wins, 2 losses - +380 pips
USD/CAD - 2 wins, 1 loss - +381 pips
AUD/USD - 1 win, 3 losses - +211 pips
EUR/JPY - 2 wins, 3 losses - (-37) pips
USD/JPY - 0 wins, 5 losses - (-293) pips
USD/CHF - 0 wins, 4 losses - (-363) pips
GBP/JPY - 2 wins, 4 losses - (-410) pips

That's it for March... here's how FPM has performed so far in 2009 now that we've finished the first quarter:

January - +3,795 pips
February - + 890 pips
March - + 779 pips

Total so far for 2009: +5,464 pips

For more information about the Forex Profit Monster trading system (and the Forex Day Monster day trading system) visit my website at http://www.forexprofitmonster.com/. To purchase either FPM or FDM just click on this link to visit my eBay page http://myworld.ebay.com/jimsgr8stuff4less

I hope your March was profitable and here's to continued success in April!

Jim
http://www.forexprofitmonster.com/
http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster Trading Results for February 2009

Sorry it's taken so long for me to publish these results, but there never seems to be enough time to sit down and post. I usually take the opportunity on NFP day to update the blog, but needed some down time last Friday so I'm forcing myself to take a little time towards the end of the trading day today to do it. I know it's important for those of you stopping by to get more information before purchasing FPM, so you'll find the results for February below.

Before we get to that though, I do want to take a few minutes to remind anyone who is considering purchasing that this system is NOT the holy grail. Every once in a while I have to bring this subject up again as new crops of unsuccessful and novice traders discover FPM. There's a lot of great feedback and testimonials about this system because when used properly it does work, but one of the problems with the great testimonials is that it gives people new to Forex trading the idea that it doesn't lose. I got an email just today from someone who purchased FPM over the weekend and was a little upset that his first trade was a loser and that he was "lucky" it was a demo trade and not a real trade. After looking at the trade he referenced the first thing I noticed was that it was still an active trade. No exit signal had been generated yet... although the trade was about 160 pips in the negative on a 4 Hour chart. First thing to grasp here if you're new to trading... if you're not willing to take a 160 pip loss on a 4 Hour chart then you're not ready to trade with real money. 160 pips is not a large loss on this time frame, no matter which pair you're trading. Oh, and I should mention this too... according to the system rules the trade hadn't generated an exit signal yet, so that means this trader bailed out of fear. Even if the trader ends up losing less on this trade by exiting early (if it does end up being a loser) he can still consider this trade a BIG loser because he didn't stick to the plan and follow the rules. I can't emphasize enough how important this is. This is still an active trade according to the system rules and there is a chance that it could be a winner (or at least a smaller loser).

Here's an example of why you don't want to do this from Febuary's results. The EUR/JPY pair had 3 losing trades and only 1 winning trade on the 4 Hour chart in February. Thats a 25% win rate. Pretty bad, right? How can you make money that way? Easy... as mentioned before this is a trend following system. Most of your winning trades will be much bigger than your losing trades... usually enough to cover your losses and still show a profit; and that's what happened in this example. The 3 losing trades came first, all in a row (this is important). The winning trade came last. The losing trades lost 18 pips, 186 pips, and 136 pips. The winning trade won 629 pips. If you had bailed out of trading this pair because of fear after the first loss (or first two losses, or first three losses...) do you see how you lose? By following the plan and accepting your losses you would have gained 289 pips on these trades instead of losing 18, 204, or 337 pips depending on where you bailed out of fear.

As a new trader you MUST understand the effects of trading psychology before you can be successful. If you insist on making discretionary decisions based on your fear of losing you will NEVER win. That's why I include information in my trading systems about this. It's also why I continue to post my monthly FPM results on this blog. You can see that there are losing trades and you can see that most months there are some currency pairs that lose... but by trading several pairs and following the system rules I've been able to generate a profit almost every single month with FPM since the spring of 2007. It's not a fluke... if you take the time to be realistic and learn to trade properly you can take profit from the Forex! Please do yourself a favor and (if you haven't done so already) and stop chasing the "holy grail" of Forex... take the time to learn to trade FPM properly (with the trading psychology and proper money management as taught) and you can be a success in the long run!

Now on to February's results for FPM... here's how the 8 pairs I traded fared:

41 trades taken total on the 4 Hour charts

16 winners for 3,523 pips
25 losers for 2,633 pips

Total pips won - +890

39% win rate

Avg win - 220
Avg loss - 105

Avg risk/reward ratio 2.1 to 1


Here's how the individual pairs fared in order of best to worst:

GBP/JPY - 2 wins, 1 loss - +885
USD/JPY - 3 wins, 2 losses - +423
GBP/USD - 2 wins, 2 losses - +366
EUR/JPY - 1 win, 3 losses - +289
AUD/USD - 1 win, 4 losses - (-186)
EUR/USD - 2 wins, 3 losses - (-163)
USD/CHF - 3 wins, 4 losses - (-237)
USD/CAD - 2 wins, 6 losses - (-487)

Total pips won - +890


So there you go... another profitable month for Forex Profit Monster.

For more information about FPM visit my website... http://www.forexprofitmonster.com/

To go directly to my eBay page for purchase, click here:

http://myworld.ebay.com/jimsgr8stuff4less

Best of luck in your trading!

Jim
http://www.forexprofitmonster.com/

http://myworld.ebay.com/jimsgr8stuff4less

Forex Profit Monster January 2009 Results

Time to take a few minutes and post the results for Forex Profit Monster for the month of January. It was another great month with a total win of 3,795 pips and all of the pairs I'm trading generating a profit. Here's the breakdown from trading the 4 Hour time frame:

36 trades... 24 wins and 12 losses for a winning percentage of 66%

5,393 pips won and 1,598 pips lost for a profit of 3,795 pips

Average win - 225 pips... average loss - 133 pips for a Risk/Reward ratio of 1.7 to 1

Here's the profit generated by each of the pairs:

EUR/JPY 2 wins, 3 losses - +670 pips
GBP/USD 2 wins, 2 losses - +578 pips
GBP/JPY 3 wins, 2 losses - +561 pips
USD/CAD 3 wins, 0 losses - +550 pips
AUD/USD 4 wins, 1 loss - +550 pips
EUR/USD 4 wins, 1 loss - +469 pips
USD/CHF 3 wins, 1 loss - +217 pips
USD/JPY 3 wins, 2 losses - +200 pips

For more information about the Forex Profit Monster trading system, please visit my website at www.forexprofitmonster.com. To purchase Forex Profit Monster go to www.ebay.com and do a search for "Forex Profit Monster".

Best of luck in your trading...

Jim
www.forexprofitmonster.com

Forex Profit Monster December Results; Year End Results

Today it's time to sit down to post my results for Forex Profit Monster for December and the year 2008! The results are great on both counts, so let's get right to it...

For the month of December I took 19 trades across 8 currency pairs on the 4 Hour charts. Here's how they broke down:

EUR/USD - 2 trades... 1 win, 1 loss - +1012

USD/CHF - 3 trades... 1 win, 2 losses - +650

USD/JPY - 2 trades... 2 wins, 0 losses - +493

GBP/USD - 3 trades... 2 wins, 1 loss - +152

USD/CAD - 2 trades... 2 wins, 0 losses - +366

AUD/USD - 2 trades... 1 win, 1 loss - +172

EUR/JPY - 2 trades... 2 wins, 0 losses - +727

GBP/JPY - 3 trades... 2 wins, 1 loss - +62

Totals:

19 trades... 13 wins, 6 losses - 68.4% winning percentage

Total pips won - 4541

Total pips lost - 907

Average win - 349 pips

Average loss - 151 pips

RR ratio - 2.3 to 1

Grand total for December: + 3,634 pips


A great December to end a great trading year for 2008. Here's the monthly totals for 2008:

January + 1462
Februaray +694
March +2122
April +570
May +879
June +617
July +1956
August +4825
September +615
October +11,546
November +95
December +3634

That's a total of 29,015 pips across 8 pairs in the year 2008; an average of 2,417 pips per month!

Without going into great detail about my personal information, I will tell you that this translates into over a 300% account increase for the year 2008.

I hope your trading fared as well for December and all of 2008... here's to many pips flowing into your account!

For more information about the Forex Profit Monster system (and Forex Day Monster day trading system), visit my website at http://www.forexprofitmonster.com/.

Jim
http://www.forexprofitmonster.com/