Comments on: Awesome LMT Trades 1583 pips in 2 days

By: Marc

Marc — Sat, 13 Jun 2009 00:30:34 +0000

Rakesh. The best way to get the results is to take 2 lots/mini lots on a trade (split your stake in half). Set the 1st part of the trade to CLOSE at the 1st profit target. Then move the stop on the 2nd lot to entry. Now allow this trade to run. I have earned a lot of pips this week (650+) with this method. I hate to take a trade and win nothing. Equally i hate to see a trade that i have exited run for 100′s of pips more. This way you get the best of both worlds. marc

By: Rakesh

Rakesh — Fri, 12 Jun 2009 19:56:25 +0000

Hello all-

I have the LMT system and I am seeing many people getting 500+ pips on certain trades. My question is how long is everyone holding these trades? I’ve had some trades that have hit their TP level. I then move the SL to break even only to have the currency pair take out my SL after a while. Sometimes I wish I would have taken TP at the initial target but then I think that if I do that then I cannot get the big pip gains everyone is getting. Any advice for a newbie?

By: alx

alx — Wed, 10 Jun 2009 07:51:20 +0000

Out of the three, trades triggered on GMT+1 are the most profitable. They fired off last and hit a pullback.
I have three terminals open with three different timezones. I’m checking if this could add to the system.
Anyway, it’s always good to have a confirmation you’re doing good. Isn’t it? Having the same pairs firing off timezone by timezone makes it more confident.
On the opposite, I didn’t have that confirmation on 4 hrs EURJPY short and it proved to be looser (anyway, it looked as a looser by the time it fired during consolidation).

By: alx

alx — Wed, 10 Jun 2009 05:57:02 +0000

Hi, I got three daily signals overnight: EURUSD, AUDUSD, GBPUSD (I don’t trade all pairs – maybe more on CHF?). On all three timezones: GMT+1, GMT+2, GMT+3.
Also short on EURJPY but this was a fake right from the beginning.
We’ll see, the market is still in vague position, the up move still cannot be confirmed as trend resume. Anyway, resume or pullback, still some pips to be done

By: Awesome LMT Trades 1583 pips in 2 days

Awesome LMT Trades 1583 pips in 2 days — Tue, 09 Jun 2009 10:43:22 +0000

[...] the original here: Awesome LMT Trades 1583 pips in 2 days Posted in Forex News | Tags: a-and-ibfx, about-the-lmt, bars, days-but, havent-received, [...]

By: alx

alx — Sat, 06 Jun 2009 13:33:40 +0000

A leveraging trick I successfully used with some other daily/4 hrs strategy (long runs):
once you’re on a gain side trailing Stop Loss AND the profit locked by the Stop Loss >= current Stop Loss size AND you have a room for more profits, you can add to your position. And repeat it when the second lot meets the same conditions.
Example:
your current profit is 100 pips, your current Stop Loss size is 50 pips. You locked 50 pips. You see the trend is strong and another 50 pips is very likely while the 50 pip Stop Loss size is wide enough to take a trade. Add another lot with the initial Stop Loss at the same level as the first one current SL. Then trail both in sync.

This way you can dramatically multiply gains.
On loss side, with two lots you’re NULL – the second lot consumes the first one’s profits. With three lots sequence you win on two and loose on one but the first lot profit is three times the loss (you win 4 and loose 1). So on…
Last but not least: if you want to do it, you must include all the positions in your Money Management calculation starting from the very first order or you may run out of your free margin. It also depends on how your broker manages your deposit. I have two brokers doing it completely different: one keeps only the Stop loss size and releases what I manage to lock, the other keeps 1% lot size till the end no matter if I lock anything or not.

By: Marc

Marc — Sat, 06 Jun 2009 07:00:04 +0000

Great advice alx

By: Marc

Marc — Sat, 06 Jun 2009 06:59:27 +0000

Hi simon. A lot of pairs look like they might be about to change direction. Best advice for now is to sit on your hands and do nothing ! Patience is important in forex. As we have seen in the last few weeks, once the trend settles the gains are awesome. See daily chart 19th may gbp/$ for a signal that went + 1200 pips over 10 + days. I will email everyone with an update this week end for which pairs to trade and which to avoid in the next few days, marc

By: simon peat

simon peat — Fri, 05 Jun 2009 18:28:02 +0000

just wondered if any one can tell me if the trend on lmt is up and the trend line is lookin like its goind down it triggers long is the chart wrong

By: alx

alx — Fri, 05 Jun 2009 18:17:52 +0000

Wasn’t that bad today.
I mean the LMT stayed mostly silent. However, I don’t trade all the pairs (I don’t like CAD and CHF – if I don’t like, I don’t trade).
I had four signals, on different timezones. Two for USDJPY and two on GBPUSD. Out of the four, the USDJPY was easy to reject at glance (I don’t like the pair either, but this is a different story). The GBPUSD proved to be profitable on GMT+1. It hit the first target. However, it was more luck than a method. I don’t trade luck, I trade methods. On GMT+3 it was too late (too close to the NFP madness).
In general I’m a bit more confident with the LMT – I expected more fake signals. And it’s easier to filter out bad setups than I expected.
As we have to wait a little, I still encourage all forex traders to try to trade different setups on demo accounts. Practice, practice and practice.
Let’s put it this way: we need to wait couple of days for BIG $. While we wait, we can try master some tricks to turn it into BIGGER $. Why wouldn’t do $2000 instead of $1000? You choose…
Besides, sitting and waiting is frustrating. Stupid ideas come into mind “I could make 100-200 pips today instead of just watch… if I took that trade…”
With every trade, no matter good or bad, experience builds up. One day you’ll look at the market and say “no, this is not the time, wait till the next time slot/newsbreak”, or “yes, this is the time, let’s look if I could find a trade here”.
Take EURUSD first. Open charts: 5 min, 15 min, 30 min, 1 hrs, 4 hrs. Set them to clearly visible candles. Try to put support and resistance lines and see how price acts around them. Just that, no any distracting indicators, pivots, etc. Set it up YOURSELF. You can easily transfer the lines between charts using templates (set lines on one chart, save as template, apply the template on another one). Display volumes. Volume is a key supplement to the price. Tip: look for “Market Profile” on the net…