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