December 2012 Results & 2012 Year End Results for Forex Profit Monster

It's the start of a new year, that means it's time for my end of the year results post for Forex Profit Monster.  As you can see from the equity graph above it was another profitable year!  But before I break down the results for the year, I need to post the results for the month of December.  And before I do that, I'd like to take some time to reflect back on my trading in 2012.

This past year was the 6th year in a row that I've seen a profitable year trading with Forex Profit Monster.  The system that I designed and coded back in 2006-2007 has performed very well heading into its 7th year by showing me about 65,000 pips of profit overall. It's been grinding out nice profits during most months/years and also capitalized on the chaos that was 2008, netting me about a 300% profit for that year while most people were losing.  While I've enjoyed the success I've had with Forex Profit Monster, I've also continued to grow as a trader.  If you've followed this blog at all (or at least read some of the early posts) you've seen some of that growth... from the time frames I've traded to my metamorphosis to being a trend follower exclusively (I only trend follow now, I don't trade ranges or other mean reversion strategies anymore).

In the past few years I've watched my account grow in value to the point where it's almost time for me to take trading to the next level... by diversifying and trading more than just the Forex market.  The next logical step for me as a trend follower is to move into the Futures markets... trading commodities and other futures contracts.  To prepare for this I entered into a mentoring program in 2012 with one of the top commodity traders in the United States.  I won't mention his name as I haven't cleared doing so with him, but if you've been trading for any amount of time you would probably recognize him from his market related media appearances and his book written in 2011.  I've learned a lot from this trader, and continue to do so.  In fact, things have gone so well I will be working as an assistant to him in 2013 which will allow me to learn even more about trading futures as well as the trading business in general.  I have a lot to be grateful and thankful for as I look back at 2012, and am even more excited about 2013 and beyond!

On to results... here's what happened with my trading with Forex Profit Monster in December...

December was a great follow-up to November as I saw not only some nice winning trades during the month, but also some gains from trades that opened in November that closed out during December.  Once again the trends were nice and smooth on many pairs which kept the number of trades down and the profits up.  It was a rare month in that I had a 68% win rate... you don't see many months like that in a trend following system where the average win rate is usually more in the 30-35% range.  However the average risk/reward ratio was also lower... 1.74 to 1 instead of the 3 to 1  or 4 to 1 ratio where it usually is during winning months.  I had a profit of 657 pips in December, and here's how the rest of the monthly results played out:

19 trades total
13 wins:  892 pips
 6 losses: 235 pips

Total: +657 pips

68% win rate
Avg win:  68 pips
Avg loss:  39 pips
Avg risk/reward ratio:  1.74 to 1

Here are the results by currency pair:

EUR/USD  2W, 0L  +352
GBP/USD  3W, 1L  +166
USD/CHF  2W, 1L  +158
USD/CAD  2W, 1L   +38
AUD/USD  1W, 1L   +19
GBP/JPY    1W, 0L   +15
EUR/JPY    1W, 1L  (-41)
USD/JPY   1W, 1L  (-50)

Since it's the end of the year, that means it's the end of the 4th Quarter.  With October's 220 pip loss and the gain of 657 pips in both November and December, I showed a profit of 1,094 pips in the 4th quarter.  Here's the updated equity graph:

And here are the final results for 2012:


January: +891
February: +206
March: +1,667
April: (-293)
May:  +1,640
June:  +2,209
July:  (-343)
August: (-699)
September +1,103
October (-220)
November +657
December +657

That's a total of 7,475 pips, or an average of 622 pips per month.

There were 8 winning months in 2012 with 9,030 pips gained, and 4 losing months with 1,555 pips lost.  That gives me a monthly win rate of 66.6%, an average win of 1,128 pips, and an average loss of 388 pips, which calculates to an average risk/reward ratio of  2.9 to 1.

For more information regarding purchasing Forex Profit Monster (or my day trading system Forex Day Monster), please visit the website at www.forexprofitmonster.com or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less where I list one or two items per week at a discount.

Best of luck in your trading...

Jim
www.forexprofitmonster.com

September Results

Finally found the time to drop by the blog to update the results for the month of September. After such a huge August (4800+ pips) September was bound to be more of a ranging month as price settled down from those massive moves on almost every pair. We did see a lot of ranging in September, but there were some decent moves too. In fact, if it wasn't for the USD/JPY being in such a tight range and giving us several false breakouts on the 4 Hour chart, I would have had a pretty good month again... but with the losses sustained across this pair it brought my FPM profits for the month to a still very respectable 615 pips.

The end of September saw some good moves setting up again across most pairs as many worldwide are fleeing back to the U.S. Dollar from the Euro and other currencies. Even with all of the credit and banking turmoil in the U.S., it seems the dollar is still the currency everyone runs to when times are unstable worldwide. FPM has caught some incredible trends again... here's a couple charts of trades that were taken to end September and will be helping me to achieve some stellar profits again for October:



The above chart of the EUR/USD on the 4 Hour chart shows a trade that has already been closed and the profits booked. The total win on this trade was 648 pips!

Next is a 4 Hour chart of the GBP/JPY:

This trade is still open and currently over 17oo pips in profit!

Here's the GBP/USD:

This trade on the cable is also still open and over 700 pips in profit.

The USD/CHF:

This trade was also closed out for a 371 pip profit!

And here's a chart of the USD/JPY... the pair that gave us the most ranging in September. It finally had a breakout and is currently over 450 pips in profit!

That gives me two trades already closed and booked for October (on the EUR/USD and USD/CHF) for a profit of 1,019 pips... plus over another 2,870 pips of profit not booked in the above charts! I also have open trades on the USD/CAD and a couple of other pairs that are also in profit. It looks like October will be another HUGE month for FPM!

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

To purchase Forex Profit Monster go to http://www.ebay.com/ and do a search for "Forex Profit Monster". Or to see both the FPM system and the daytrading Forex Day Monster system just search "Forex Monster".

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

Jim

http://www.forexprofitmonster.com/

The August Results

Hi... back again to post the results for FPM for the month of August. As mentioned in the previous post I had managed to open some very profitable trades in late July and early August on the 4 Hour charts on several pairs, including EUR/USD, GBP/USD, USD/CHF, USD/JPY, EUR/JPY, USD/CAD and AUD/USD. The month of August was the best month ever for FPM as it was one of the best trending months for the past year. I was able to book over 4800 pips of profit across these trades!

While on the subject of what a great month August was I'd like to address an email I received recently (among some other issues). It seems as the success of my trading systems continue I am getting more and more people MAD AT ME for being successful!!! I actually had a person email me and tell me that the only reason my systems have been successful is because the past couple of months have been good trending months. DUH... really? Do you think so? Do you think a trend following system is performing well because the trends have been good??? I'm sorry... excuse the sarcasm, but I get tired of the "naysayers" who like to contact me to tell me why my systems won't continue to work over the long run. First of all, it's been more than two months... FPM has proven itself to me for well over a year now. Almost two years if you count the time I spent developing, building and testing the system. Most of the traders throwing these accusations around haven't even been trading for that much time! FDM also continues to work well... I've been bringing in anywhere from 100-300 pips per week day trading the major pairs. Those of you who keep sitting around waiting for my systems to crash and burn can do it all you want, but please stop contacting me... I'm not looking to fight with you and I will delete your email without answering it. I will continue to use FPM to book good averaged profits almost each and every month. At last tally that average is growing steadily and is now over 1,000 pips per month after factoring in the incredible August that just passed.

Again, I have been upfront about what to expect from my trading systems... they are not the holy grail. They will have losses. But they are designed to accumulate more pips than they lose over time using simple trend following theories that have been proven to work. They are the "real deal"... the types of systems REAL traders use to bring in profits trading the Forex.

I would also like to take the time to address those who insist on asking me for detailed trade results over extended periods of time before they purchase my systems. I understand you being cautious... you want an iron clad guarantee that the system will make you money. But you must understand that first of all, I've already been posting on this blog for almost a year now providing you with information on over a year's worth of my personal results. Second of all, I can not and will not compile my personal information because you are hesitant to spend $50 or $80 (I am not asking you to spend thousands of dollars here and I am providing you with lifetime support!!!). I also can't guarantee even with my profitable systems that you will follow the rules and end up with the same results as me! That's another email I get every once in awhile... someone writing me back telling me how to change the system to make it better. If you want to make changes to the trading plan, that's up to you... but I suggest you follow the rules as they are laid out for you. Most of the people who want to tweak the system are unknowingly taking on too much risk with the changes they are making. Everything in my systems, from the entry and exit signals to the money management and trading psychology has been laid out for you and has proven to be successful for me, so why change it? If you insist on "tweaking" the systems then I would suggest studying and learning how to build your own trading system that performs better than FPM or FDM over time and then come back and show it to me. Maybe I'd like to buy it for $50 or $80! (Although unlike me I doubt you'd sell it for that much... you'd probably want to charge me hundreds or thousands of dollars LOL).

Finally, one more thing that may help those of you who are looking for some way to judge me and my trading systems. As you know I sell my systems on eBay. Since I've been selling them on eBay (almost a year now) I see system sellers come and system sellers go. Most of them grab some money from people with their wild claims of 100% weekly or monthly returns, and then in a month or two when their systems are found out to be frauds, they stop selling and delete their eBay account... having in effect "stolen" a lot of money from a lot of wide eyed gullible people. I, on the other hand, am one of only two or three sellers on all of eBay who has managed to attain Power Seller status and keep it by selling ONLY my 2 Forex systems. The feedback I've received from my buyers has also been great. Almost every single one is thrilled with the value of what they purchased... and many who purchase one of my systems come back and purchase the other one too. I will also tell you that a lot of the people who purchase my trading systems contact me to tell me that they make their money back on their very first trade or series of trades. If that's not enough for you to trust me enough to spend $50 or $80, then I don't know what else to tell you! You're looking for that iron clad guarantee that I can't give you. (Please remember this before asking me to spend a lot of time compiling months and months worth of my detailed personal trading information!)

I'm sorry for the "rant" that this post turned into. I almost deleted the last few paragraphs I wrote before posting this blog entry because I don't want to offend anyone, but hopefully it will help some people understand how frustrating their demands can be. I don't mind answering questions about the trading systems if you have them before you decide if you want to buy, but there's a difference between asking some questions and demanding certain information before you decide to even think about purchasing! (For those who are unsure of the difference, I can answer questions in the reasonable amount of time it takes me to type the answers to you and possibly attach a chart or other picture to the email. If I have to start breaking out a calculator and my last "X" months of trading logs then you're being unreasonable!) People can be very unreasonable... and since I'm not making my living by selling my systems I sometimes contemplate NOT selling them anymore. But I will admit I do like the small extra income (pocket money if you will) and even more so I like helping traders who are just starting out (or who have been around for a little while but have always struggled) by offering systems that can and will teach them to be profitable traders.

Anyway... now that all of that is off my chest, I hope your August was as profitable as mine and here's to a profitable September too!

Jim
http://www.forexprofitmonster.com

This Week's (and Month's) Results... Best Month Yet for Forex Profit Monster!

Here's a look at what happened to the USD/CAD trade that I opened on the 4 Hour chart this week. Usually I don't worry about news affecting trades on 4 Hour and Daily time frames, but this time around I decided to close this trade out before the US interest rate statement. There was so much conjecture about what was going to happen after the "emergency" .75 point cut last time that I felt no matter what the Fed did there was going to be HUGE volatility, so I closed the trade out before the news as shown in the chart below:

As you can see, there was a lot of volatility before price finally did settle down and head back in the direction it was before. I also closed out the trade I had open on the GBP/USD on the 4 Hour chart for the same reason. I exited that position at 1.9890. That means the results were 173 pips of profit on the USD/CAD and 149 pips on the GBP/USD. That gives Forex Profit Monster a total gain of 1,462 pips for the month of January, the best month yet! After the volatility settled down, I decided to re-enter the USD/CAD short at .9973. Right now the trade is in profit 32 pips... we'll see if this re-entry turns out to be a good move or not :-)

I decided to limit my trading today due to the U.S. Non-Farm Payroll coming out as I don't like trading around major news, so no trades have been taken so far for the month of February.

On another subject, I've been getting some email lately from people considering buying Forex Profit Monster. I've decided to post some of the answers I've given them here on the blog because I figure if one person asks it, many others may be thinking it too. One question I've received has asked me if I can post my trade entries in "almost" real time instead of showing the charts after the fact. To be honest, I really have no interest in doing this because I need to concentrate on my trading and other business activities and can't rush to the blog every time I open a trade to post the chart. I try my best to show the open and close when a trade lasts more than a day or two and is convenient for me to post, otherwise my priority is my trading first. I'm not trying to hide anything... I've been upfront that this system is not a holy grail and that there will be losses. I've even shared some of the losing trades right here on the blog. This system is very robust, but there will be losing weeks and maybe even losing months. For those who've asked, here's a breakdown of my monthly results so far with FPM since I've been keeping track:

August 07 + 579 pips
September 07 - 173 pips
October 07 + 385 pips
November 07 + 999 pips
December 07 + 585 pips
January 08 + 1,462 pips

Total - + 3,837 pips in 6 months or + 639 pips per month on average. (I've been trading this system for almost a year, but the first few months were "beta testing" and I made some adjustments to it during this period so I won't post those results).

Now you must realize that I took fewer trades the first three months (Aug, Sep & Oct) than I did the past three months (Nov, Dec, and Jan) and this had an effect on the results. I think as I became more confident in it I did even better. Again... I'm posting my personal results because people are asking. If you decide to use FPM on your own your results can vary depending on the currency pairs you choose to trade, the time frames you choose to trade and your ability to follow the rules of the system. I WILL NOT GUARANTEE YOU WILL HAVE THE SAME RESULTS AS ME. I can't emphasize this enough. I'm being as honest and forthright as I can about what to expect from my system... I would rather be honest and have you NOT buy from me than to take your money and have you feel you didn't get what you paid for.

Anyway... with that being said, I hope the month of January was as profitable for you as it was for me, and here's to an even better February!!!

For more information about Forex Profit Monster and how it works, visit my website at http://www.forexprofitmonster.com/.

Jim
http://www.forexprofitmonster.com/

Good Entries On USD/CAD and GBP/USD on 4 Hour Charts

Here are a couple of trades I've taken recently on the 4 Hour charts. I've been paying more attention to the 4 Hour charts lately (instead of the 1 Hour charts) as it takes less of my time to monitor this time frame while I'm working on some other things. The first chart is of a short on the USD/CAD:

As you can see this trade is still open and is currently 140 pips in profit. Here's another entry on the 4 Hour charts on the GBP/USD:

This trade is also still open and currently 145 pips in profit. I'm also keeping a very close eye on the EUR/USD and USD/JPY as they are both consolidating into very tight ranges for the 4 Hour charts and I expect a breakout and move on both of these pairs soon.

I haven't added to the monthly pip total since the last posting because both of the trades I've taken are still open and the profits haven't been "booked" and realized yet. That means the total for January still stands at 1,140 pips profit. I'm hoping to add a little more to that in the next couple of days before we start February!

If you have any questions or would like to learn more about the Forex Profit Monster trading system, please visit my website at http://www.forexprofitmonster.com/.

Thanks, and here's to good trading!

Jim
http://www.forexprofitmonster.com/

AUD/USD provides more pips this week

It's been a few days since I've posted... it's been a busy week. I'm still trading 1 Hour charts but am now starting to watch the 4 Hour charts more closely. Here's a big mover this week that Forex Profit Monster caught:

It's been a good week with several "small wins" of less than 100 pips on a few pair (GBP/USD, USD/CAD, USD/CHF) that all closed at support/resistance. I also continue to pull pips out of the EUR/JPY and GBP/JPY. So far this week FPM has generated 313 pips with a 7-2 record. That brings the monthly total to 1140 pips! This has been the best month so far since FPM was first put into use as a live trading system last spring. The continued downward trend of the EUR/JPY (and USD/JPY, GBP/JPY) has a lot to do with that as it's accounted for a large amount of pips.

I continue to work on the new "day trading" system. I've received some email from people wondering whether this new system will replace the current Forex Profit Monster. The answer is NO!!!!!! Why would I replace a system that has consistently generated 400+ pips per month? No, this new system is designed to be more of a daytrading system that gets you into and out of moves faster so that most of your trades will close out within a single trading session. It's meant to be used alongside Forex Profit Monster... with FPM as a longer term system and the new "Forex Day Trading Monster" (I guess that's the name now LOL) as a short term system. Both stand on their own as systems and are not dependent upon each other, but my personal plan is to use both to give me the power to diversify and spread my risk and pull even more consistent pips out of the Forex!

I've actually begun forward testing the new system myself this week as I check the new indicators for any bugs. So far so good. Once everything is OK the next step is to have a couple of people "beta test" the system along with me.

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

Thanks, and here's to many pips flowing into your account!

Jim
http://www.forexprofitmonster.com/

My Trade of the Week - EUR/JPY

It was a good week again this week thanks to the EUR/JPY which actually is making my month this month. This pair has been generating lots of pips while most of the other pairs are ranging back and forth. This trade was actually a "Re-Entry" trade (as described in the Forex Profit Monster Trading Plan in the User Guide) as I missed the original trade that gave a short signal a little over a day before.

This was a great trade for 273 pips that increased my pip total for the week, along with a 55 pip win on the GBP/USD and a 20 pip win on the USD/CAD. These offset a couple of small losses of 63 pips on the AUS/USD and 51 pips on the USD/JPY. This brought my weekly pip total to 234 pips. But the amazing news is that the EUR/JPY trade wasn't the best trade signal of the week. I got an email from one of my customers who told me that he caught one of the great moves on the Euro Yen's cousin the GBP/JPY this week. Check out the move below...

Amazing! 646 pips in just a few days. I was happy with my gains this week, but it didn't compare with that one! Even better, he's a new user of Forex Profit Monster and this was one of his first trades!

Speaking of new customers, I'd like to thank everyone who has purchased the system over the past couple of weeks. Forex Profit Monster is now being traded worldwide, with new customers not only in the United States, but also Singapore, Canada, England, Germany and Italy just to name a few.

Well, it's Friday... and don't forget, Monday is Martin Luther King Jr. Day, a bank holiday in the U.S., so expect trading volume to be down for the NY session on Monday (if your broker is open).

With this week's 234 pips that brings the monthly total for January to 827 pips. If you'd like more information about Forex Profit Monster and how it works, visit the website at http://www.forexprofitmonster.com/.

I'll be spending part of my weekend finishing the coding of a new indicator and starting to backtest a new short term system to compliment Forex Profit Monster. More news on that soon after it's ready...

Have a great weekend and here's to many pips...

Jim
http://www.forexprofitmonster.com/

Well, It Was A Good Mistake

For once luck was on my side and the "mistake" that was made stopping me out for 34 pip profit on the GBP/USD trade turned out to be good. I actually came away with a small profit instead of a 10 pip loss, and the trend didn't immediately continue in the same direction.

It's been a few days since I've been able to post on the blog... between trading and taking care of some of my new customers for Forex Profit Monster I've been extremely busy! Toss in having to take care of some personal business this week that's cut into my trading time, and it's hard to believe it's Thursday already! As this seems to be happening more and more I'm seriously considering personally trading Forex Profit Monster only on the 4 Hour charts and above. I've been tinkering with a new indicator and a system to complement Forex Profit Monster. It's more of a "day trading" forex system in which the trades will just about always close out during a single trading session. This removes the stress of having to manage trades overnight and missing entry signals that may not be generated again for days because of not being able to trade on a certain day. This would give me the best of both worlds... Forex Profit Monster, a system where I can capture longer term moves of 150 to 1,000 pips; and a day trading system that will let me capture many smaller moves of 10 to 150 pips and close the orders out in a single day. I guess you could call this system the trend follower's version of "scalping" LOL. Anyway, more news on that soon as I've just about finished coding the indicators and will start backtesting the system this weekend.

I've had a couple of small losing trades this week and one winner... I'll update the information on the monthly total as well as share some good news from some of my customers in the next post... but it's time to check those 1 Hour charts...

Good luck and good trading!!!

Jim
http://www.forexprofitmonster.com/

The Times, They Are A Rangin'...

Sorry for the Bob Dylan reference, but it seems to sum up the Forex market today. Not much happened... no signals were generated by the Forex Profit Monster trading system on the 1 Hour chart. Actually there was a signal that could've been taken on the USD/JPY pair, but because the Fast Trend indicator had already changed to red before the Slow Trend indicator crossed up, I didn't take the trade as this is a sign of a ranging pair and a riskier trade. Some 4 Hour trades that would've been taken a few days ago closed out for healthy profits (300+ pips), but because I didn't trade any of them on my live account, I won't be posting the results here.

Big news tomorrow on the Pound and the U.S. Dollar is probably causing the ranging to continue. Both economic reports have to do with housing, and as we all know the housing and mortgage crises are causing some real volatility in the markets and will probably continue to do so for some time. After the U.S. news is released at 10:00 am we may see some heavy trading into Wednesday as Wednesday is a relatively slow news day. Thursday brings the Pound interest rate decision, and both the European Central Bank's Trichet and the U.S. Federal Reserve Chairman Ben Bernanke are scheduled to speak, so look for another risky day on Thursday. I expect some ranging on the major pairs until the Pound interest statement, followed by some possible wild volatility depending on what is said by Trichet and Bernanke. Thursday is a day I will probably be taking off.

This is one of those times that it takes some real trading discipline to not go looking for trades just so you can be in a trade. It took me a long time to learn this, but it's still tempting to try and jump in when you see so many pairs in a tight range just waiting to break out!!!

That's it for today... if you'd like more information about the Forex Profit Monster trading system, you'll find it on my website at http://www.forexprofitmonster.com/.

Best of luck and may many pips flow into your brokerage account!

Jim
http://www.forexprofitmonster.com/

Big News Day Means Day Off For Me

I don't trade daily news being a technical analysis trader and trend follower, so I usually avoid trading around Non-Farm Payroll and other big news. I keep up with fundamentals, but only as to how they may affect the overall picture. That means today was a "day off" for me... translate "day off" to mean I actually got more than a few hours of sleep :-)

No trades currently open after closing out the EUR/JPY short, but it looks like plenty of opportunity on the horizon. Because of a combination of trading volume being down as people return from the holidays this week and the Unemployment and Non-Farm Payroll news being released today, many of the currency pairs have been trading in a range over the past couple of days. This is excellent news if you are a short term trend follower on the 1 Hour chart like I am... it means we should see some nice breakouts early next week on Monday or Tuesday.

With the employment news on the USD coming out weak today and the unemployment rate trending higher, it looks like the small amount of strength we've seen from the U.S. Dollar recently will be fading in the near term. The Great Britian Pound got some good news today on the Services PMI and mortgage news (!). I'll probably be watching for a breakout signal back to the upside on the GBP/USD after today's news... but with the interest rate decision due out on the Pound next Thursday any moves during the early part of the week will probably be quickly muted. Of course any of this is just speculation and as always I will let the market (and Forex Profit Monster) tell me what price is doing.

That's it for today... have a great weekend and as always, good trading!

Jim
http://www.forexprofitmonster.com/

Welcome to the new Forex Profit Monster blog!

Welcome to the new Forex Profit Monster blog! This is where you can keep up with what's going on with the Forex Profit Monster trading system at http://www.forexprofitmonster.com/.

I'll soon begin detailing trades that the system has generated along with posted charts. These trades will be trades I've actually taken... NOT HYPOTHETICAL. These posts will be made as frequently as my trading schedule will allow. Personally I've been able to consistently generate over 400 pips per month for the past several months trading 8 different pairs on the 1 Hour, 4 Hour and Daily time frames (although most of my trading is done on the 1 Hour chart). The best month came this past November which was a profit of 999 pips! There were a lot of great trends going on in November and I was very focused and able to catch a lot of them. Sure, it would have been nice to have had ONE MORE PIP so that I could have had a 1,000 pip month, but remember... don't get greedy. :-)

December was also a profitable month with a gain of 585 pips... although I should have made more. I got a little sidetracked with some other things and missed some great trades that happened the week before Christmas on the 1 Hour charts. Being curious I did have to sit down and add them up... over 700 pips missed on a few beautiful week long trends. Not that I would have necessarily caught all of them, but I'm sure I would've gotten most. That would have made December another great month like November... not that I'm complaining about a 585 pip month.

Here's to 2008 and many more opportunities to profit!

Jim
http://www.forexprofitmonster.com/