I'm just sharing honest feedback from my experience, which unfortunately was not what I hoped it would be. I almost lost my life savings. Trading forex successfully and consistently requires that you devise and refine your own personal trading system. Overall, we do not recommend that traders use the LMT Forex Formula trading system or trust money to trading on its signals or those of any other forex trading signal systems. On a chart each candle represents a period of price action, for example on a 4 hour chart each candle represents 4 hours of price action. Well good for him but that sure didn't happen with me.
TheLMT Formula is a trend following system, that is based on trigger indicator.
The entry signal must be in the direction of the current trend as indicated by. For example if the trend is down, there must be three. If the trend is. If there are only two bars or less before the entry bar, then the signal. Below is an example of entries with an up trend.
On a chart each candle represents a period of price action, for example on a 4. Every 4 hours one. Before a signal can be generated the. As a guide, if the candle is more than twice the size of the current. These large candles will often retrace a long way. This step is essential, if. There are hundreds of. An engulfing pattern is a strong change in momentum in the market.
For a sell confirmation, the. This formation indicates good volume and momentum in the market. The pin bar formation is one of my favorites, it shows huge emotion of the. In this case the bulls pushed the. The pin always points away from where price may. The Doji pattern is generally a small candle indicating indecision with not much.
Initial Stop Loss on the previous swing. Management position to see the previous examples. Share your opinion, can help everyone to understand the forex strategy. Price action retracemen t. T Trigger is constantly oscillating like a wave and changing colour depending on its direction.
The indicator gives possible signals as it changes from red to green, but there are several things that must be checked before it can even be considered a trade setup. The manual says about conservative trading meaning taking First Profit only. I run forward test for about 7 months on four different brokers. All of them are far bellow opening.
And the equity curve goes down and down. I collected about trade signals per broker on H4 and daily signals. But still you have to manage every trade.
And most of the trades did not make much more than the first profit. If you were not there to close a trade, it could hit the target and go back bellow the opening.
And the last but not least - these are signals collected round the clock. You could get the rates if you traded 24 hours a day.
If not, you could colled most of bad bets! LMT is a trending system 4 moths of the year it says in the manual don't take trades into support or resistance, descretion is required always, look at what the charts are showing you and also understand some of the basic candle patterns, with this system you can win. Guys if you want to be successful take a look at the site Forexmentorpro. I have nothing to do with this site, I am a trader who has studied for 3 years traded most days, wiped out some live accounts overcooked the demos you name it I screwed it up at some point.
These guys can put you on the road to success. Although Dean seems like a really nice guy, and actually answers emails, I have to be honest with this review.
Part of the problem with my unsuccessful results may be that I just didn't give it enough of a chance, but after 5 or 6 weeks I gave up with this system. The main problem I see with it is it seems to completely ignore support and resistance levels, which are crucial. It would often signal a buy at or near a major resistance level, or a sell near a major support level, than get stopped out a day or two later.
I have to give this one a pass unfortunately. Just last week i made a killing 4, dollars trading just 0. Dean is coming out with an update soon Already made a whopping pips in the 1st week: I requested and got my money back via ClickBank. Perhaps I didn't set something up right but the thing hardly ever triggered over a four week period.
I need something a bit more active. I have since purchased two other software packages and they are filling my needs better. I'm surprised with the reviews so far as I share the same sentiments and similar experience as Bob, USA. Well, I hate to be about the only dissenting voice among all of these glowing 5 star reviews, but I requested a refund on this product.
Let me first say that Dean Saunders seems like a nice guy, and in that sense I hate to leave a negative review, but I have to just tell it like it is at least in my experience. I found this system to provide no real edge, meaning it lost as many or more trades as it won, and I don't need a system for that, I can just flip a coin.
LMT Forex Formula Trades Examples
LMT Forex System By lmtforex on Friday, January 28th, | Comments Off on LMT Forex System Did you know that Foreign Exchange trading is a lucrative business opportunity with great potential for . Part of system problem with my unsuccessful lmt may be that I forex didn't give it enough of a chance, but after 5 or 6 weeks I system up with this system. The main problem I see with it is lmt seems to system ignore support and resistance levels, which are crucial. LMT Forex Formula. V lmt forex review. It stands for Low Maintenance haxspace.cf’s a method devised after years and years of searching for systems to trade the Forex market.