If you can learn to combine my methods and the LMT together you can rapidly learn to make a serious income from forex.
The LMT is still inconsistant on the 4 hour charts and you need to be careful. The problem is that we have lots of pairs near strong support & resistance levels which is proving difficult with some lmt trades. You need to use discretion when taking these trades. When the markets resume full trends it will be much easier, as it was May through to mid July when the LMT was winning 80+% of the time and in many cases you just needed to take the trades that the software gave you.
For now, look carefully at potential trades before they arrive. Look for the ones that have the most potential. Follow Deans advice re candle stick formations, shape of the trigger bar etc. Then have a look at my advanced rules (I am updating these at the moment). Finally look for areas where trades may get stopped in their tracks, ie support & resistance, psychological levels etc. It is probably a very good idea to re-read Deans manual & my advanced rules again. Those of us whom were lucky enough to be trading the LMT earlier in the year had to be “match fit.”
There were so many profitable signals, often all arriving at once, that if you hadn’t planned ahead you would have missed a golden opportunity to profit. As I have explained before. The LMT is a trend following system. Normally the markets trend September through to Christmas & then late January to June. We have to maximise our profits at this time and then do as I told you in the summer holiday period, walk away & leave it. Amateurs continued to trade through this 6 week period and then wondered why it didn’t work. Follow my advice. Re learn the rules & you WILL have a profitable run in up to Christmas.
Those of you who do not currently have the LMT check it out here:
This weeks video is below (Please ignore the intro- I do a guest video for a subscription site)
Hey Marc,
Thanks for this weeks analysis…I really enjoy your videos. They are informative and pretty accurate. Thanks a million $$$
Jake
Good video, thanks again Marc, the new video software (for embedding it in the page I mean) is making the page a bit weird though, can't click on the buttons (to enlarge to fullscreen etc)
i've been following you from the beginning and your system always adapts to the market. This is necessary to being a successful trader. We can not use the same system everyday, we have to look at the market for what it is and adjust our charts, trendlines, fib levels, sl and everything else to make some pips. thanks for sharing your analysis.
Does anyone know what hours are used to define the range of the asian breakout strategy?
Thanks!
INteresting analysis as always. I differ slightly on the 'nothing happening'. THere seems a fairly good daily trend line from March last year up to the recent highs on EURUSD. Its bounced a couple of times (and the candles are getting shorter), so there's a fairly good bet downwards. However, trendlines AREN'T as strong as resistance IMHO, so might be better to see what happens as you suggest. Another failed attempt to breach 14600 would be a strong indicator that we're having a retrace.
(btw, can't seem to register using Disqus as it says my username is already taken, and I don't have a password on it…so not sure how to be Gally!)
i use 10pm gmt to 6am gmt. sometimes you have to use a bit of discretion, but thats the basic idea, marc
i use 10pm gmt to 6am gmt. sometimes you have to use a bit of discretion, but thats the basic idea, marc