Za7 Blog

May was another great month with returns more than expected. I learned a lot this month and refined my trading style more as well. For the past few months, I had a lingering problem with chasing trades and getting into a bad entries like buying at a top or selling at a low. It was really frustrating and tied up my margin. But after learning and watching Cisco, I could see that if I just planned ahead where I would enter and where I would not enter, I could keep myself out of trouble. This simple step has increased my winnings towards the end of the month.

I also cut trades for a $1100 loss during the second week. This was a decision based on the market price action showing little interest to return up to the level where I had longs positioned for another run at 1.6000. I decided to take the loss and gain back the margin so I could make profitable trades again. It worked, I was free of these bothersome trades and gained quite a lot of profit and focus again. I plan on being much more careful taking longs, buying only at a low of the day and putting a +1 to protect it reversing on me.

I found that the E/U is following commodity prices closely, thanks to Moderator at FX Insights, and this helped my take profit on trades before they turned around, also staying in profitable trades for more money since an extended move was more than likely. I also picked trades based on 5-7 higher 30m closes, and 5-7 lower 3om closes. These gave great turning points for the E/U and I was able to spot them and profit accordingly.

Profits:

week 1: 2 days - $552 (17% ROI)

week 2: $580 (18% ROI)

week 3: -$670 (-11% ROI)

week 4: $825 (13% ROI)

week 5: $1879 (30% ROI)

These numbers are way above my expectations. I am very pleased. Even with a week three loss, the other profit helped buffer it down to a $670 loss for the week, not so bad. Week 5 was amazing, I closed out a bunch of trades I had taken the week prior plus some big wins on intraday trades. My best day so far is $737. I remember making $220 a day at my former career as a Mechanical Engineer, this is so much more fun too.

I added some additional funds to the account, $2000 on the 12th and $4000 more on the 29th. I averaged the balance for the monthly ROI at $5000.

Total profit for May: $2968

May balance: $12,253

Funds I added total $8000, so total profit so far is $4253.

Goals: $50,000 ; current balance $12,253

Monthly Goal: 20% ROI

Weekly: 5%

Daily: 1%

So far I am on track to meet my $50,000 goal in about 6 months. I don’t think I will make it that fast, but who knows. I have a bunch of negative trades which I am working on getting out of when they turn a small profit. I am taking much less trades this week and next to try and bring my open trades balance back to 0. The ROI of the account is great, but I need to reduce these negative trades if I am going to continue. I am taking only a couple trades a day, so this means that ROI might be less for the first couple weeks of June. We will see.

If you are reading this and are trading Forex too, please leave a comment on how you are doing. I would love to hear it. I am always in the FXI chat under Ackn1099 and in the ProFXI chat too. I know a lot of other members are doing excellent too, people are reporting 1%, 2%, and even 4 % ROI Daily! Great work you guys, keep it up !

I have to share something that is currently making me some good profit and will most likely make me some tremendous returns over the next months/ years. I am talking about a new service from the traders and FX Insights, its called ProFXI. It is a site designed for full-time traders and anyone dedicated to making primary of supplementary income. It is run by Francisco Arias, or just Cisco in the chat and Yeno. Cisco is the head trader giving us live calls and telling us exactly what the EUR/USD currency pair will do before it does it. Yeno runs the site behind the scenes and gives exceptional support to us traders in the chat.

ProFXI is currently in Beta testing as of 5/22/08, but is rumored to be fully operational before the end of May. Cisco gives us live trade calls now, but later we will also have a shared screen of his tradestation viewing his proprietary signal plus his open and closed trades. This gives us incredible profit making opportunity but allows us to trade our own account as we wish. Yeno will also be offering some GBP/JPY calls and so far his calls have been very profitable as well. 95% of the calls and signals are for EUR/USD only. The team is amazingly supportive and thoughtful of our needs as traders. Cisco offers a question and answer session daily and Yeno is always in chat unless he is sleeping. They go way above the expectations of most traders, including mine.

There is a cost for ProFXI, unlike FXInsights which is totally free and updated daily plus an active chatroom where you talk with the traders. ProFXI is offered at $200 a month, which in my opinion is dirt cheap, I made up that cost the first 2 days I used it, and that was with $1 per pip trades! The cost was labeled as site development and maintenance, but it wouldn’t matter since the value is immense if you know anything about trading.

First off, let me show you my trades. I have edited which were from Cisco’s calls. I only show the open trades from Cisco’s call as well since I have a bunch of negative ones that I took from my own trading. All of Cisco’s calls that I have taken have been profitable:

Now, here are some snapshots of what the beta service has provided. These are Cisco’s closed trades for the day. He has been making about $10,000 a day and recently over $20,000 per day. This is REAL MONEY and I did not edit these, he actually has very few losses so that is why he trading is so incredible:

This is the real deal.

I am signed on with the service to help me generate profits per day, but I am still doing my best on my own trade calls because I want to be able to trade without needing the help in the future. I am determined to be a successful trader on my own as well, but since there are profits to reap, why not take them. Check out FXInsights forum for more info on the ProFXI trading service until the ProFXI.com site is up and going.