Forex Profit Monster Results - November 2010

Another good month of trading with Forex Profit Monster comes to a close in November as I ended the month with a profit of 901 pips. That keeps me near the all-time high of my account balance (and pip total) as you can see in the graph above.

It was a relatively active month with 37 trades and only a couple of long trends coming to an end. A lot of currency pairs were ranging on the 4 Hour chart in November, but luckily the ranges were large enough that many of those trades closed out as small wins instead of small losses (as is usually the norm with ranging months). This also accounts for the 54% win rate of trades for the month... more winning trades, but the wins were for fewer pips than usual.

Here are the details for November:

37 trades

20 winning trades - 2,296 pips
17 losing trades - 1,395 pips
Total: +901 pips

54% win rate

Avg win: 114 pips
Avg loss: 82 pips
Avg R/R: 1.4 to 1

Here are the results by currency pair for the 8 pairs I trade on the 4 Hour chart:

EUR/USD 2W, 2L +502
USD/CHF 2W, 1L +209
AUD/USD 2W, 1L +187
GBP/JPY 4W, 0L +179
GBP/USD 3W, 4L +110
USD/CAD 3W, 2L (-1)
USD/JPY 2W, 3L (-13)
EUR/JPY 2W, 4L (-272)

Here are the results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)
October +1,717
November +901

Total: +5,806 pips
Average: +527 pips per month

Next month's results will bring us to the end of another year... and my 4th profitable year in a row trading with FPM!

To contact me or for more information regarding the Forex Profit Monster trading system (and my day trading system Forex Day Monster) visit my website at www.forexprofitmonster.com, or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your trading was as profitable as mine in November and here's to adding to our pip total in December!

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

Forex Profit Monster Results - October 2010 - New Equity High!

The month of October's +1,717 pip profit was in the top 10 of monthly returns since I've started trading FPM live in the summer of 2007. It was a welcome month after the past few months where I've basically been treading water since May's 4,500+ pip win. While I'm still in a slight drawdown, I now have the chance to be at a new high in my account balance by the end of the year; because if you include 3 profitable trades from October that are still open as of this blog post, and 4 more profitable trades that I've opened in the first few days of November, I am at a new equity high!

Once again the lesson to be learned here is you must be persistent and disciplined in your trading. Even though my pip total for the year has always been positive, it wasn't easy to have a losing month 3 out of the last 4 months before the large winning month of October. If I had given up because of those losing months, I wouldn't have won the pips in October or opened the trades in early November that have me at a new equity high. Trading psychology is extremely important in your development as a trader! That's why information to help you learn about trading psychology is included in the material in the Forex Profit Monster trading system. The other thing to learn is to manage your money properly. Don't do stupid things like doubling down on your trades because you think you're due for a win. Stick to position sizes that are reasonable for your account size and learn to ride out your losing periods. You can't win at trading unless you learn to manage your money properly! Again, this is why I wrote an eBook on money management and include it with Forex Profit Monster (this information is also included with my day trading system Forex Day Monster).

Here are the results for October 2010:

31 trades taken

11 wins: 3,489 pips
20 losses: 1,772 pips

Total: +1,717 pips

35% win rate of trades
Avg win: 317
Avg loss: 88
Avg risk reward: 3.6 to 1

Details of results on the 8 pairs I trade on the 4 Hour chart:

USD/CHF 2 W, 0 L +514
EUR/USD 1 W, 4 L +470
EUR/JPY 1 W, 4 L +434
GBP/JPY 1 W, 1 L +212
USD/JPY 1 W, 2 L +158
AUD/USD 2 W, 4 L +116
USD/CAD 1 W, 2 L +17
GBP/USD 2 W, 3 L (-204)

Here are the results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)
October +1,717

Total: +4,905 pips
Average: +490 pips per month

That's it for this month... hope your October (and so far November) has been as profitable as mine!

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

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

Forex Profit Monster September 2010 Results

It was a "good news/bad news" month for trading with Forex Profit Monster. The bad news first... on paper there was a loss for the month of (-1,737) pips across the 8 pairs I trade on the 4 Hour chart. However, once again this loss isn't what it seems and is just a factor of the time frame I use to post the results (each calendar month).

The reason I say this is, the good news is that in the first week of October I've closed trades that were opened in September (and remained open at the end of September) for a total profit of +2,226 pips, and as of writing this blog post I still have several trades open with a total equity profit of about +1,200 pips... and some of these open trades are still from September as well. By adding the extra week into the results I would have a +489 pip profit and the +1,200 pips of open equity instead of the loss I'm posting. This is why it's not always easy to post the results like this... but the only other alternative would be to post them quarterly or yearly... and unfortunately that wouldn't suit the intentions of this blog, which was to provide up to date information regarding my performance trading Forex Profit Monster to those who are considering using it themselves.

I have been very busy this past month answering emails I've received not only about FPM, but about the other things going on in the Forex market the past few weeks... namely the Japanese intervention and the CFTC rule change that will be limiting our leverage use in a few days. I'll comment on those subjects after I post the details for September:

27 trades on the 4 Hour chart

3 wins: 432 pips
24 losses: 2,169 pips
Total: (-1,737 pips)

12.5% win rate
Avg win: 144 pips
Avg loss: 90 pips
Avg R/R: 1.6 to 1

Breakdown by currency pair:

AUD/USD 0 W, 0 L : 0 pips (1 trade initiated, carried into October)
GBP/JPY 1 W, 1 L : (-137 pips)
EUR/USD 0 W, 3 L : (-150 pips)
USD/CHF 1 W, 3 L : (-154 pips)
EUR/JPY 0 W, 2 L : (-159 pips)
USD/JPY 0 W, 3 L : (-196 pips)
USD/CAD 1 W, 6 L : (-295 pips)
GBP/USD 0 W, 6 L : (-646 pips)

Here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903
September (-1,737)

Total: +3,188 pips
Average: +354 pips per month

OK, with the results out of the way for September, I wanted to take a minute to comment on some things that happened during the month and are set to happen in a few days. First up, the Japanese intervention on September 15th.

I received a lot of emails from people asking how I handled the situation as it's not something that comes up often and obviously there is no set rule in the trading system on how to handle it. I was lucky enough to be at my computer on the 15th checking my trades when prices started going crazy on the Yen pairs (this is a benefit of trading the 4 Hour chart over the Daily chart)... and having heard rumors about the Japanese government considering a currency intervention I figured it must have happened. A quick check of Google news and sure enough the Japanese were extremely busy flooding the market with Yen and buying up U.S. Dollars in an attempt to slow the growth of their currency which was at a 15 year high. The reason the Japanese are concerned about the value of their currency is they are extremely dependent upon a weaker currency to support their export based economy. Once the Yen gets too strong it wreaks havoc on their economy and they look for any way to reduce its strength... an "intervention" is usually their final solution, but they may not just do it once... if it doesn't work the first time (which it hasn't as the USD/JPY pair is now lower then it was when they intervened) they can do it again... although sooner or later it becomes counterproductive and the Bank of Japan decides it has already "wasted" enough Yen and bought enough USD.

As far as how I handled the situation... I had trades open on all of my Yen pairs (all shorts of course) and I closed them out immediately upon learning of the intervention. The reason I did this was something I learned after studying Ed Seykota years ago. Ed had some simple rules for his trend following trading, two of which were "Follow your rules without question" and "Know when to break your rules". Now most people would say these two rules contradict each other (as Jack Schwager pointed out to Ed in his "Market Wizards" interview), but they don't if you understand what Seykota means. As a trader you should always have the discipline to follow your rules, but when the conditions change so drastically like they did with the Japanese intervention, it's time to throw the rules out the window and get out of the market (especially if you have a profit and know that the result of the intervention will probably wipe that profit out, even if it's only for a short period of time). You can always re-enter the market later on when things settle down if you want to. I actually did this myself... just a couple of days later I took new trades on the USD/JPY, and the EUR/JPY, but decided to stay away from the GBP/JPY for a little while longer due to it being a pair with a much higher volatility. As the Japanese didn't do much else after the push of the initial intervention I picked up trading the GBP/JPY again at the start of October. I'll still be watching the Bank of Japan closely though as they may decide to intervene again as the price of the Yen is hitting new highs once again.

Now for the other subject that has had traders chattering for the past couple of weeks... the U.S. government's new regulations about leverage in the Forex market. There has been debate for quite some time now (oh, at least since Obama entered office) of lowering the leverage available for retail Forex traders like you and me. It used to be brokerages offered as much as 400:1 leverage, that was reduced to 200:1, 100:1, and now as of next week the most leverage you'll be able to use with a U.S. broker is 50:1. Now some people are happy because everyone thought the reduction might go to 10:1, but I don't think that's really the issue. The issue here is that once again the "nanny state" run by the current administration is deciding what's best for the lowest common denominator in our society. I was able to use my 200:1 leverage quite successfully for a few years... and I wouldn't have been able to build my trading business as fast as I did without it. I'm sorry if Joe Blow from East Bumfuque opens a trading account with high leverage, doesn't manage his money properly and then ends up quickly losing it all... that's his fault, not mine, not the brokers' and certainly not the government's. If Joe Blow doesn't understand how leverage affects his ability to trade then he deserves to lose his money... and then maybe he will learn how to manage it or learn that he has no business trading!

While I'm mad at the government for once again overreacting and making up a bunch of rules and regulations after the fact to make it look like they are responding to the "financial crisis" (btw Mr. Obama, it wasn't the small retail trader who caused any of this mess), the leverage change doesn't really affect me personally very much. It just means I may have to add a little bit of cash to my brokerage account to cover the increase in margin I need to keep on open trades, or I'll just have to reduce my positions slightly to keep my risk in line and to rectify the change in leverage rule. Either way it's easily fixed and won't affect my business model very much. The same should go for you... don't let a stupid rule change by the government stop you from enjoying one of the last frontiers of the business world where a single person can take a small amount of money and build it up into a profitable business in a relatively short period of time!

That's it for this month... if you'd like to contact me for more information on purchasing the Forex Profit Monster system (or my day trading system Forex Day Monster)... visit my website at www.forexprofitmonster.com, or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

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

Forex Profit Monster Results - August 2010

I'm a little late posting the August results... I guess the Labor Day holiday snuck up on me! Well if the summer has to end, at least it ends on a good note... after 2 losing months in a row I finally saw some breakouts and nice trends from late July into August and ended up with a winning month of 903 pips.

Here are the details:

31 trades

11 wins: 2,514 pips
20 losses: 1,611 pips
Total: +903 pips

35% win rate
Avg win: 228 pips
Avg loss: 80 pips
Avg R/R: 2.85 to 1

Results by currency pair:

GBP/USD 2W, 1L +659
EUR/USD 2W, 0L +556
AUD/USD 2W, 2L +150
EUR/JPY 1W, 4L + 97
USD/CAD 2W, 2L + 83
USD/JPY 1W, 3L (- 89)
GBP/JPY 1W, 3L (- 94)
USD/CHF 0W, 5L (-459)

Here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)
August +903

Total: +4,925 pips
Average: 615 pips per month

For more information about Forex Profit Monster (or my day trading system Forex Day Monster) visit www.forexprofitmonster.com. To purchase either system, visit the "Purchase" tab in the menu at the top of www.forexprofitmonster.com, or visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/.

I hope your August was as profitable as mine... and here's to even more profit ahead as volume returns now that September is here!

Jim
www.forexprofitmonster.com

Forex Profit Monster Results - July 2010

Ah, the summer doldrums of trading. While I enjoy summertime and the warmer weather where I live, I don't enjoy the lack of volume in the markets. I feel like I'm wishing my life and favorite time of the year away, but as far as business is concerned I just can't wait for September to get here so that trading volumes can get back to "normal"!

I'm reminded of the summer trading doldrums by July's results. Not a bad month, but not a good month... just sort of a "month". Technically a losing month, but when those losses can almost be completely explained by the transaction costs of the trades, it really wasn't much of a loss. Plus, once again there were some significant moves on the 4 Hour chart toward the end of the month of July and I have over 2,000 pips of open equity profit across several trades while writing this post. Even with the volatility caused by the poor jobs numbers during the Non-Farm Payroll here in the U.S. today, most of those trades either remained largely unaffected or actually moved in my direction. Because of this I look forward to closing out these trades in the next couple of weeks to make August a profitable month.

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

31 trades

10 wins: 1,641 pips
21 losses: 1,826 pips

(-185 pips)

32% win rate
Avg win: 164 pips
Avg loss: 86 pips
Avg r/r: 1.9 to 1

Results by pair:

USD/CHF: 1 W, 3 L +812
USD/JPY: 2 W, 3 L +115
EUR/USD: 2 W, 0 L +69
USD/CAD: 2 W, 1 L +36
AUD/USD: 2 W, 1 L (-12)
EUR/JPY: 1 W, 3 L (-175)
GBP/USD: 0 W, 4 L (-351)
GBP/JPY: 0 W, 6 L (-679)

It seems that during the month of July I've reached another milestone in my trading career. If you look at the equity graph above, you'll notice that this is start of the 4th year of my results of trading with Forex Profit Monster. The funny thing is that during the past month since I've hit the mark of having an established and verifiable 3 year track record, I've been contacted by several entities regarding getting professionally involved with them. Some of these were brokers offering me the opportunity to become an "Introducing Broker" to other traders and handle transactions through them with a branded website, and others were small firms inquiring about my availability to trade other people's money.

While I can appreciate the opportunities that are now open to me after several years of trading, and I know that some traders would be excited to have the chance to expand their business with these opportunities, I really have no interest in getting involved with any of these scenarios. After reading the "horror" stories of other traders losing their freedom to trade as they see fit once they start to trade money for clients, I've decided not to follow this path, at least at this point in my life. I also have no interest in having to sell my current customers on using my services as a broker. I prefer to just keep trading my own account and offering my trading systems to those looking to learn how to trade a profitable method... these two things provide me with a nice living plus I get to keep total control of my business, which is important to me. I spent years looking for a business that I could run by myself without large overhead and having to deal with employees... I've achieved that in the past few years and am not really interested in changing it now. So I guess I'll chalk these experiences up to "it's flattering to be asked, but no thanks".

Speaking of "track records", here are the FPM results for 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)
July (-185)

Total: +4,022 pips
Average: 574 pips per month

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

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

Thanks for visiting the Forex Profit Monster results blog, and best of luck in your trading!

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

Forex Profit Monster Results - June 2010

As is expected after a large winning month like I had in May (+4,597 pips), there was a lot of ranging and many false breakouts across the 8 pairs I trade on the 4 Hour chart as price settled down in June. In the past I've considered taking a week or two off from trading after large winning months to avoid some of the losses that are almost guaranteed, but I don't... because part of being successful when trading a trend following method (like I do) is to take EVERY signal. While most times after large moves there is some ranging, sometimes the new trend is established very quickly on the very next signal. History shows this to be more true the higher the time frame you trade... you'll see it many times on the Daily chart (higher time frames = less noise). Missing these new trends because of adding a rule about NOT trading could end up making the system less profitable instead of more profitable! Once again there is a lesson here... to be a successful trader you must learn to accept your losses. As long as you know history shows you that your losses are smaller than your profits, there is no reason to get upset when you have a loss.

Even though the month of June was a losing month for me, there are still a few trades open from June that continued into July that show a profit in equity of almost as much as June's losing trades. As of this writing the USD/CHF is showing an open equity profit of over 1,000 pips alone! Continued moves in these trends means that I could see a new high in my account balance as early as the end of July.

Here are the results from June on the 4 Hour chart:

36 trades
10 wins: 1,087 pips
26 losses: 2,957 pips
Total: (-1,870 pips)

27% win rate
Avg win: 108 pips
Avg loss: 113 pips
Avg R/R: .95 to 1

And the details by currency pair:

EUR/JPY - 2W, 2L - (-4 pips)
USD/JPY - 1W, 2L - (-39 pips)
EUR/USD - 2W, 3L- (-81 pips)
GBP/USD - 1W, 2L - (-146 pips)
USD/CHF - 0W, 3L - (-213 pips)
USD/CAD - 1W, 3L - (-238 pips)
AUD/USD - 1W, 6L - (-563 pips)
GBP/JPY - 2W, 5L - (-586 pips)

Here are the results for the year 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597
June (-1,870)

Total: +4,207
Average: 701 pips per month

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

To purchase, visit the website or my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/

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

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

Forex Profit Monster Results - May 2010

As you can see from the sharp rise in the equity graph above, May provided an excellent increase to my account! After what's been a relatively "sleepy" year so far, one of the dramatic price movements that I've been expecting to happen this year happened during May. It's important to understand that when trading this system (or any trend following system) you will go through periods where you have small wins, small losses and break even times. It may test your discipline to stick to trading during these times, but if you can do it you can reap the rewards in months like May.

If you are familiar with the concept of black swans (if not, you should read a copy of Nicolas Taleb's book "The Black Swan - The Impact of the Highly Improbable") then you're already familiar with how FPM generates profits. It basically provides small returns until an unexpected major market move (black swan) occurs. Most traders and investors are caught off guard during black swan events and end up losing a lot of money. FPM is designed to capitalize on these events, and May 2010 was one of those months.

I don't usually make predictions about the market (well, OK, I sometimes do, I just don't allow those predictions to influence my trading) but my personal feeling is that May isn't the only month like this we're going to see in 2010. With all of the economic problems in Europe continuing to grow, and the economic problems we continue to see here in the U.S., I'm reasonably sure there will be more "black swans" not too far away.

The other nice thing about FPM is that it doesn't rely solely on "black swans" for profits... when the day comes that we do see a real recovery and a new "bull" market, I'll be in a position to profit from those sustained trends as well!

OK, let's get to the details of the May 2010 results (from the 8 pairs I trade on the 4 Hour chart):

17 total trades

8 wins: 5,485 pips
9 losses: 888 pips

Total: +4,597 pips

47% win rate

Avg win: 685 pips
Avg loss: 98 pips
Avg R/R: 6.98 to 1

Results by pair:

GBP/JPY - 1 W, 1 L +1001
EUR/JPY - 1 W, 2 L +754
AUD/USD - 1 W, 1 L +695
GBP/USD - 1 W, 1 L +676
USD/CHF - 1 W, 0 L +635
EUR/USD - 1 W, 2 L +390
USD/CAD - 1 W, 1 L +229
USD/JPY - 1 W, 1 L +217

Here are the results for the year 2010 so far:

January: +823
February: +669
March: +434
April: (-446)
May: +4,597

Total: 6,077 pips
Avg: 1,215 pips per month


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

To purchase FPM or FDM visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less/

That's it for May... hope your month was as profitable as mine and here's to more pips in 2010!

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

Forex Profit Monster Results - April 2010

April started off looking great with over 1,700 pips of profit in equity... but quickly turned into one of those ranging months that whipsaws your open profits away. The month's total loss was only (-446 pips), once again a blip on the radar screen according to the big picture (look at the chart above... can you even see the drawdown?) In fact as I write this results post the market has been moving fast and furious again and every pair I trade has an open trade that is well into profit... well over 3,000 total pips right now. While I obviously won't count these pips as profit yet (you only have to look at April to understand why you can't do that), I feel good knowing that these trades are there to help me reach a new high in my account balance before the end of May.

During months like April I inevitably get questions about why I don't close out the trades when they're "overextended" and take the profits before they can retrace. It's simple... you're looking at the trades with hindsight. You know now that they retraced and set up in ranges that cost the open equity... but you didn't know that when it was the present time and you had to make the decision. It's just as likely that the moves could have continued in the same direction and instead of losing 446 pips in April I could have profited 4,000 pips! But if you exited the trades early before getting an exit signal you would have missed out on these pips. A similar situation is setting itself up for May as we speak... if I close out the 3,000+ pips I have now will I be better off than waiting to see if the moves continue? Maybe, maybe not... but I don't have to make this decision... I let my trading plan/system make it for me. This removes my emotional attachment to the "paper" equity money that I don't really have yet and allows me to make intelligent decisions regarding my trend following. When you start second guessing your trading plan is when you invite disaster. FPM has proven itself to be extremely reliable and resilient (again, look at the graph above of my account value in pips since I started tracking my live trading). Have a good plan (including good money management) and stick to it... and forget about your small losses... they don't do any damage to your trading... only your emotions about them do!

Here's a breakdown of my April results trading the 8 pairs I trade on the 4 Hour chart:

42 total trades
14 wins - 1,932 pips
28 losses - 2,378 pips

(-446 pips)

33% win rate

Avg win - 138 pips
Avg loss - 84 pips
Avg risk/reward ratio - 1.64 to 1

Here are the details by currency pair (best to worst):

USD/JPY: 2 W, 2 L +252 pips
GBP/JPY: 2 W, 4 L + 88 pips
USD/CHF: 3 W, 1 L + 34 pips
EUR/USD: 1 W, 3 L (-28 pips)
EUR/JPY: 2 W, 4 L (-160 pips)
AUD/USD: 1 W, 5 L (-199 pips)
USD/CAD: 1 W, 4 L (-214 pips)
GBP/USD: 2 W, 5 L (-219 pips)

That's it for April... if we don't see a repeat of all of this open equity vanishing I'll once again be at a new account high by the end of May!

Here are the results for the year so far:

January: +823
February: +669
March: +434
April: (-446)

Total: 1,480 pips
Avg: 370 pips per month

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

To purchase either system visit my eBay page at http://myworld.ebay.com/jimsgr8stuff4less.

Thanks for reading this and best of luck in your trading!

Jim

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

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