Forex Profit Monster - Results March 2010

March 2010 is officially in the "books", and was another winning month for Forex Profit Monster. As you can see from the total pip equity above, I'm once again at an all-time equity high... with a total of 43,803 pips won since I started tracking the live results in the summer of 2007.

Here are the results for March for the 8 pairs I trade on the 4 Hour chart:

38 total trades
11 wins - 2,485 pips
27 losses - 2,051 pips

Total pips: +434

29% win rate
Avg win: 225 pips
Avg loss: 75 pips
Avg Risk/Reward ratio: 3 to 1

Results by currency pair:

GBP/USD 2 W, 3 L +682
USD/CAD 2 W, 0 L +279
GBP/JPY 1 W, 5 L +210
AUD/USD 1 W, 2 L (-11)
USD/JPY 1 W, 4 L (-51)
EUR/JPY 1 W, 2 L (-76)
EUR/USD 2 W, 4 L (-262)
USD/CHF 1 W, 7 L (-337)

FPM was able to show a profit for the month even though the win/loss ratio for the trades was only 29%! Once again, having the discipline to stick to the trading system is just as important as the trading system itself.

It's also important to note that as I post this entry I'm sitting on about 1,700 pips of open profit on 5 trades. These trades were all opened toward the end of March and are providing a nice head start for April's profits :-)

Here are the results for the year so far as we've reached the end of the first quarter of 2010:

January: +823
February: +669
March: +434

Total: 1,926 pips
Avg: 642 pips per month

While I trade the 4 Hour chart, I want to take a moment to discuss trading the Daily chart with FPM. I get a lot of questions from traders wanting to know if FPM is only profitable on the 4 Hour time frame, and if that is why I concentrate on 4 Hour charts. The answer to this is... NO! FPM can be used on any currency pair and any time frame (although I do recommend using 1 Hour charts and above)... it's not "curve-fitted" for any particular currency pair or any time frame (again, look at the graph of the results above that spans across the past 3 years). I trade the 4 Hour chart because it suits my trading personality. If you need to trade a Daily chart because you work a full-time job and can't commit to trading a lower time frame or because you'd rather only spend a few minutes a day trading, FPM works just as well on a Daily chart. Of course you'll have to be more patient in waiting for trends to develop (you'll get fewer signals) and you'll also have to have the discipline to stay in a profitable trade longer, but the system works just as well on a Daily chart. Here's a Daily chart of the EUR/USD since January 2009:


The ability to profit from the Forex is there... with the proper trading system and the ability to stick to the rules you can be successful even if you only have a few minutes a day to devote to trading.

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

To purchase either of my trading systems please visit my eBay page: http://myworld.ebay.com/jimsgr8stuff4less/

Thanks, and best of luck in your trading!

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

Forex Profit Monster Results - February 2010

It's official... I'm back to a new total equity high as of the close of business for the month of February (as you can see from the graph above)!

Not only was February a profitable month with a total win of 669 pips, but I also carried 4 profitable trades forward into the month of March. These trades had a current equity value of over 1,500 pips total at the beginning of the month, which means the month of March looks like it will be another profitable month for me with Forex Profit Monster.

Here are the FPM results for the month of February:

26 trades
10 wins: 1,959 pips
16 losses: 1,290 pips

669 pips total profit
38% win rate

Avg win: 196 pips
Avg loss: 80 pips
Avg R/R: 2.45 to 1

Here are the details of the 8 pairs I trade on the 4 hour chart in order of performance (best to worst):

GBP/JPY- 2 wins, 0 losses: 326 pips
GBP/USD- 1 win, 1 loss: 312 pips
AUD/USD- 2 wins, 2 losses: 251 pips
USD/CHF- 2 wins, 3 losses: 148 pips
EUR/JPY- 1 win, 2 losses: 140 pips
USD/CAD-1 win, 3 losses: (-25 pips)
USD/JPY- 1 win, 2 losses: (-43 pips)
EUR/USD- 0 wins, 3 losses: (-340 pips)

I usually try to take some time when I post my monthly results to add some insight about my trading system or trading in general. It's important to understand that trading is much more than the trading system itself... and once again I'd like to cover this topic.

Each month when I post my results I inevitably get at least several emails from people also trading the system asking why their results differ from mine. These questions range from having a different number of wins and losses on a pair to a "discrepancy" in the number of pips won or lost. Sometimes the person contacting me has fared worse than I have, sometimes the person has actually fared better than I have... but they still want to know why their results don't match mine. Either way, the answer for the difference(s) is simple... you're trading your account, not me, so of course your results are going to be different than mine!

I know that may sound like a sarcastic thing to say, but there's no other way to put it. There are many reasons why no two traders will have the same results from trade to trade (or even from month to month or year to year) even though they are using the same trading system on the same time frame. Some of these include your broker's price feed, the time your broker closes the candle/day (therefore changing your entry/exit time and price), and a broker's spread and slippage. However the most important difference isn't found because brokers are different, but that each TRADER is different. While FPM is a mechanical system, there can be some discretion involved... especially regarding exits. There are three types of exit methods for the trader to choose from; which one a trader chooses is going to cause results to be different... and not every trader is going to exit at the exact same time even using the same strategy.

For instance, I personally trade FPM as a trend following system. I never use support/resistance as an exit strategy anymore, although I did early on in my development of the system. Now I mainly use the Fast Trend cross as my exit signal, but even then I don't always exit right away on the cross (this doesn't happen on every trade, most times the exit signal is clear and mechanical). However occasionally depending upon the current state of the trend (how established it is) and my analysis of the current price action (by reading candlesticks and monitoring price divergence from the indicators) I may tighten my stop (to avoid larger than necessary losses if I'm incorrect) and stay in the trade for a little bit longer before exiting. I especially do this to try and maximize my wins on an established trend. Sometimes this strategy keeps me in a trend for a longer period of time for more profit... sometimes it causes me to accept a slightly smaller win on a single trade then I would have had by exiting right away at the Fast Trend cross, but overall I find it has a positive effect on my profitability.

This is just one example of why my results may differ from yours. Another question that I'm asked about often that can have an effect on results is whether or not I take re-entry trades as defined in the User Guide. The answer to that once again involves discretion. If I can justify a reason for re-entering a trade I recently exited (again, reading candlesticks and using price divergence) I will enter the trade. If not, I wait for another large Entry Arrow (and for the Slow and Fast Trends to agree) before I enter another trade. I don't take re-entry trades often as many times the white arrows used as part of the signal for a re-entry trade can also signal that a currency pair has entered into a range. One rule I do have regarding re-entry trades is that if the first one I enter ends up in a loss I don't enter a second one (again because the pair could be entering a tight range). My advice to most beginning traders is to avoid re-entry trades until you have enough experience to use some of your own discretion... it's better to miss a move or two than to experience more losses than necessary due to extra whipsaws.

The last important item to cover regarding this topic is this... Forex Profit Monster CAN be traded as a completely mechanical system as explained in the User Guide and still show a profit over time. However, as you become more adept at using FPM and develop or increase your knowledge and experience as a trader you can occasionally add some of your own discretion to an exit strategy to increase your profits in the long run. But it doesn't matter if you're trading the system as a "black and white" mechanical system, or sometimes using a "shade of gray" exit strategy, you must understand that your results are YOUR results. Comparing your results to my results (or anyone else's results) on a pip by pip or even trade by trade basis has no real value. To become a successful trader for the long run you must focus on your own trading plan and become disciplined and consistent so that you may become consistently profitable... that is the real key to long term success in the trading profession!

That's it for February... here are the yearly results for 2010 so far:

January: +823 pips
February: +669 pips

Total for 2010: + 1,492 pips

For more information about Forex Profit Monster (and 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 January '10

It's another winning month for FPM in January with a total win of 823 pips. The great news is that with the pips won this month (along with almost 900 more pips of profit across 4 trades still open as we've moved into February), I've erased the drawdown entered in November and am once again at a new equity high!

Here are the results for January on the 4 Hour chart across the 8 pairs I trade:

30 trades total

11 wins - 2,395 pips
19 losses - 1,572 pips

Total: +823 pips

37% win rate

Avg win: 217
Avg loss: 82
Avg R/R: 2.64 to 1

Here are the results for January by each currency pair:

EUR/JPY 2 wins, 2 losses: +654 pips
USD/CAD 2 wins, 1 loss: +339 pips
AUD/USD 1 win, 0 losses: +237 pips
EUR/USD 2 wins, 3 losses: +182 pips
USD/JPY 1 win, 4 losses: +128 pips
USD/CHF 1 win, 1 loss: (-50 pips)
GBP/USD 1 win, 4 losses: (-241 pips)
GBP/JPY 1 win, 4 losses: (-426 pips)

That's it for January... and with the winning trades still open it looks like a good start for the month of February.

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

Best of luck in your trading!

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

FPM Results - December 2009 & Year 2009

Hard to believe it's time to post the FPM December results and the year end results for 2009!

First things first... yes, December was a "winning" month. I'll get to more details on that, but first I'd like to talk about what's been happening since I posted the November results.

Many people have been contacting me over the past couple of weeks asking how FPM is doing after having the "worst monthly results ever" in November. Most of these emails are from people who are genuinely interested in the system performance and how I'm personally doing in my trading because they are considering purchasing FPM, but some of them are from the "detractors" who like to come out of the woodwork every time I have a losing month (which by the way, isn't often). It's amazing to me that there are actually people in this world who get satisfaction out of what they perceive as the downfall of someone who is experiencing success. I guess it's due to their inability to achieve success in the first place and it makes them feel better to think that someone else isn't successful anymore either.

What these "detractors" don't realize is they're missing the point. One month's results doesn't make or break a good trading system. No one wins every month, and if this is what you think is necessary to be a successful trader you'll NEVER be a success. Winning more pips over time than you lose is what makes a successful Forex trader (and system), and a quick look at the equity graph at the top of this post and on the homepage of www.forexprofitmonster.com shows how successful FPM has been over the past two and a half years (actually more than 3 years since I started testing it).

The other point that everyone who refers to November as the "worst month ever" for FPM is missing is that the system has had losses of over 1400 pips in a month before. These types of draw downs are typical in a trend following system... it's just that this time the calendar month ended during one of these draw downs before the trends that supply the winning pips began.

This is evident if you change the time frame that you use in posting the results. By adding a week before and after the month of November into the results, we can reduce the loss by almost 50% to well under 1,000 pips. If we combine the months of September, October and November the results become positive... + 1,175 pips, or +391 pips per month on average. Do you see how the results can be manipulated by changing the time frame used? The only important thing is the end result... is the system profitable over the long haul? Again, look at the historical equity curve posted at the top of this post and the answer is clear.

This lesson also shows how important trading psychology and money management are to a trader. If you're unwilling to continue trading after suffering losses like I did in November, you will miss out on the profits that will negate the losses. And if you're not using proper money management you definitely won't be around to enjoy those profits because the money in your account will be gone by the time the trends start again. That's why it's so important that you read and understand the material supplied with Forex Profit Monster regarding those subjects.

Now on to the December results on the 4 Hour chart across the 8 currency pairs I trade, followed by the year end results for 2009:

December 2009

32 total trades
10 wins: 1,938 pips
22 losses: 1,536 pips
Total: +402 pips

Win rate: 31%

Avg win: 193 pips
Avg loss: 69 pips
Avg Risk/Reward: 2.79 to 1

Results by pair:

EUR/USD - 2 wins, 1 loss +461 pips
GBP/JPY - 2 wins, 4 losses +304 pips
GBP/USD - 2 wins, 2 losses +173 pips
AUD/USD- 1 win, 3 losses + 74 pips
USD/CHF- 1 win, 2 losses + 37 pips
USD/JPY - 0 wins, 2 losses (-197 pips)
USD/CAD - 2 wins, 5 losses (-222 pips)
EUR/JPY - 0 wins, 3 losses (-228 pips)

That's it for December... officially a 402 pip profit for the month, but since January has started I have closed out a couple of winning trades and have opened a few more that have moved well into profit... these trades show a current profit in equity of over 900 pips which is a good sign that January will end up as a profitable month as well.

Now for the final results for the year 2009 by month:

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)
September: 1,530 pips
October: 1,047 pips
November: (-1,402 pips)
December: 402 pips

10 winning months: 12,116 pips
2 losing months: 1,632 pips
Total profit: 10,484 pips

Win rate: 83%
Avg pips per month: 873 pips

These results translated into a 62% account increase for the year. While it's not the 300% achieved in 2008, it's certainly still an excellent year.

So there are the results... a good December and a good 2009. What will happen in 2010? As those of you who follow this blog know I don't allow any market predictions to influence my trading, but it's only human nature to wonder what will happen and to have an opinion. If I had to make one, I'd say that the U.S. Dollar is in a precarious position. The Fed will not be able to keep interest rates at or near zero through all of 2010... and this alone will cause some longer term trends to break out in the Forex this year as the monetary policy in the U.S. turns from focusing on boosting the economy to controlling inflation. Also, if the U.S. employment doesn't experience some real growth (as opposed to the "fake" growth being propped up and falsely reported by the Obama administration) the U.S. Dollar could be in for even more large moves. Hang onto your hats... it's going to be an interesting year in the U.S. financial markets.

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

To purchase either (or both) systems, visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less

Whatever happens in 2010 I wish you and your family a healthy, happy and profitable New Year!

Jim

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

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/

November Results

After such an incredible October with Forex Profit Monster generating over 11,500 pips, I wasn't exactly sure what to expect for November, although if I had to make an educated guess I would have had to say expect some ranging as price settled down from the large moves in October on the 4 Hour charts. It turns out that in general that's what happened, but not across every pair. The system managed to generate a small profit of 95 pips for the month of November across the 8 pairs traded. While that sounds like a bad month, remember... any profit is a good profit... and the fact that the system didn't go into a drawdown after the huge profits from last month is an excellent indicator of the resiliency of the Forex Profit Monster trading system.

Here's a breakdown of how the 8 pairs I traded fared in November:

GBP/JPY +871
GBP/USD +627
USD/CHF +246
AUD/USD +151
USD/CAD +134
USD/JPY -372
EUR/USD -642
EUR/JPY -920

Total for November - +95 pips

While this doesn't seem like the best month, there are a couple of things to consider. Besides the fact that I was able to generate a small profit instead of take a loss for the month, there are also a couple of trades still open that are well into profit and will add to the December profits... one on the USD/JPY for over 200 pips and one on the EUR/JPY that is over 400 pips in profit. I didn't factor these trades taken in November into the results as they are still open and the profits haven't been realized yet.

Also, I was able to reduce my risk and offset some of the FPM losses in November by day trading with Forex Day Monster. Many times I've mentioned how I can "spread my risk" by trading a long term system (FPM) and a short term system (FDM)... and this is what I mean; while the EUR/USD lost 642 pips in November with Forex Profit Monster, I was able to GAIN 1,219 pips day trading the same pair. How does that happen? Easy... by day trading the EUR/USD on the 15 minute chart, I was able to catch the trends on that time frame that were the "tight range" on the 4 Hour time frame. So while FPM got whipsawed on the EUR/USD 4 Hour chart while it ranged after the huge October move, FDM caught the "mini-trends" on the 15 minute chart. Here's the breakdown of how FDM performed on the EUR/USD in November:

Total trades: 31
Winning trades: 15 - 1,667 pips
Losing trades: 16 - 448 pips
Total pips won: 1,219
Winning percentage: 48%
Average win: 111 pips
Average loss: 28 pips
Risk/Reward: 3.96 to 1

So you can see that by trading both systems I was able to turn a 642 pip loss on the EUR/USD into a 577 pip profit by spreading my risk trading both systems on different time frames.

So there are the November results... a small overall gain for FPM that was increased by also trading FDM... plus over 600 pips of profit still open toward December on the 4 Hour charts.

Next month after the December results are in I will post the year end results for Forex Profit Monster.

If you'd like more information about Forex Profit Monster or Forex Day Monster, visit my website at http://www.forexprofitmonster.com/.

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

Jim
http://www.forexprofitmonster.com/

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/

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

July Results for FPM and update on FDM

Time for the "monthly" update on FPM and also on the new FDM system. As I've mentioned before for those of you who ask why I don't update this blog more often... it's become a monthly post because I don't have enough time to devote to trading and taking care of my FPM and FDM customers plus do daily or even weekly updates here. But I try to keep some fresh posts and information for those of you who are considering buying and using my systems.

For the month of July FPM posted some more above average gains. I traded mainly 4 Hour charts and ended up with 1,956 pips of profit for July. This includes about 1,000 pips that were closed out this month from trades that were opened in June. This doesn't count a couple of trades that I just opened recently including this one from last week on the GBP/USD on the 4 Hour time frame that is still open:

As you can see, this trade is still open and currently 231 pips in profit. I will close out this trade when I get a signal and book the profits for the month of August.

For those of you who haven't heard... my new day trading system "Forex Day Monster" which was designed using the same theory and principles that I used to design Forex Profit Monster is now available. (A big thank you to all of the current FPM users who have already purchased FDM to use as a short term system to compliment FPM.) It's in response to all of the short term traders who asked me to design a system similar to FPM but in which they could close out trades in a single trading session most of the time.

FDM has been performing VERY well so far. In fact I'd have to say that I find it just as profitable as FPM on short time frames (I prefer to trade 15 min charts). In fact today was a great day as I caught moves of 80-100 pips on the USD/CHF, EUR/USD, USD/JPY and GBP/USD. Here's a chart of the GBP/USD trade:

Now you won't catch moves like this every day... more like once a week. But even the "smaller" wins on the major pairs will range between 20-80 pips while your losers will usually be 10-30 pips. I personally have been averaging 200-300 pips per week so far using FDM on 4 or 5 pairs during the European and NY session. (However I can't guarantee you'll be able to duplicate my results exactly due to the effect of trading psychology).

For those of you who email me to ask what the difference is between FPM and FDM... it's simple. FPM is designed for higher time frames like 1 Hour, 4 Hour, Daily and Weekly charts. FDM is designed for day trading small time frames like 5 min, 15 min, and 30 min charts. I choose to use both to spread my risk and at the same time pull even more pips out of the market!

If you want more information on Forex Profit Monster or Forex Day Monster just go to my website at http://www.forexprofitmonster.com/.

To purchase FPM or FDM (or both) just go to eBay and do a search for "Forex Profit Monster" or "Forex Day Monster". Or to see both in the same search just search for "Forex Monster".

Best of luck in your trading!

Jim

http://www.forexprofitmonster.com/