Za7 Blog

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.

I am actively learning and trading the Forex World Currency market. I started learning from mentors and instructional tools back in March of ‘06. I heard it takes an average of two years to learn enough to start trading profitably.

Why am I living in Japan? I quit my career as a Mechanical Engineer after studying at the UW for 4 years and working a job for 5 years. I needed to learn how to make money more flexibly than spending all my time making other people money. I quit my job in August ‘06 after cashing out my 401(k), and selling one of my two houses. My plan was to live off the savings while learning how to generate income with Forex trading. I decided to reduce my expenditures by moving to Tokyo, where my wife’s parents were more than willing to let us live with them since they wanted to spend time with our 2 young kids. So we moved to downtown Tokyo in Sept ‘06. That’s the living situation.

Now onto trading. Trading has been difficult to learn. One needs to refine their personal method of trading in order to make it work. I have found this to be true with all successful traders. They all found their own way of trading. I started out learning other people’s methods, but in the end, I had to take the time to learn my own. And I think I have. I want to use my blog here to show you my progress. I have learned a lot of the past couple years and I hope you can learn something from my results and explanations.

My goal is to make at least $5000 per month before I move back to the US in two years. I am planning on making at least a 10% ROI, (return on investment) monthly. This means I need at least $50,000. I actually think I need between 50-75k for my trading account. I started out with $2000. I will track my progress here and give insights on what went right or wrong. I trade small sizes of 1% of equity for each trade on the EUR/USD only. I look for places where price action reveals that price is exhausted and ready to reverse. Price action tells me where to take trades based on times its tested and failed to break a level or amount of pips its traveled in a single trading day.

Initial capital : $2000

Goal: $50,000

Monthly goal: 20% ROI from beginning of month

Daily goal: 1% ROI from beginning of month

March Results: -$270 Balance = $1730

April Results: +$1495 Balance = $3225

Daily goal = $20 Daily average = $75

March started out rough. I decided to take losses on trades that I thought were in the wrong direction in addition to having too many trades open, overleveraged.

April was much better with a huge 86% return with a much higher daily average than expected. I know these results will vary but the technique and situation was repeatable. I was on the right side of the trades more often and able to let trades go farther intraday to bag more profits.

Goal $50,000

Currently $3225

I am currently working to close some outstanding trades that were buys because I thought price would retest the 1.6000 level and then make a big downward move. I was off on my timing so far. It didn’t retest the top as in the prior new all-time highs. But I am not closing them for a loss because the EUR/USD usually always comes back and retests the area again so I will have a chance to exit those in profit. I have a bunch of sells after the NFP report that were hedges since price had a high chance to continue testing lows starting Monday. I will hold those and close in profit as well, but I will have to be patient.

I have to credit the Team and FXI for helping me trade profitably.  Check them out and learn how to for yourself.

More to come soon.