L M T Forex Formula Review
Greetings ! My name is Marc Walton. I trade forex from my home here in the Canary Islands. For the 1st three years I struggled like 90%+ of new forex traders and I lost money, I lost a lot of money, over $20.000! The last two and a half years I have become steadily more successful. So far this year I have gained 6000+ pips (most trades posted live on twitter).
I now have 1000′s of followers for whom I offer free forex trading tuition, support and advice. My attempt to give something back to the forex community.
Until now I have never endorsed a forex product, in all honesty because most of them I ran across were either a scam or vastly over-priced….. Costing people thousands of dollars, and doing hardly anything that they claimed. Its no wonder I’ve never endorsed anything. For the most part you can find better information on my site right here!
However, I started to use the LMT forex formula to trade currencies since mid May. It was recommended to me by the creator, Dean Saunders himself, and so far its worked wonders! So read on to learn more about it;
Dean Saunders LMT Forex formula.
The LMT formula (low maintenance Forex trading formula) was hyped as a “set and forget, make a fortune in only 15 minutes a day” forex trading system. They always make it sound too good to be true, and it typically is, however there is some truth to these claims!
It can be traded straight out of the box even if you have very little forex currency experience, however the more forex trading knowledge you have the better. I would strongly recommend that anyone trying any new forex product use a free demo account at first.
The formula is described fully & simply in a downloadable e book and comes with a file that you attach to your metatrader trading platform (if you don’t have metatrader at the moment, its free and there are instructions how to download that too).
You can read Mr Saunders e book and have the whole lot up and working in just a few short hours.
Formula
The forex trading formula is very conservative. You only buy a currency pair if the long term trend is going up and only sell if the trend is down. I’m sure many of you have heard the expression “The Trend Is Your Friend.” Currency Trading in the direction of the current trend has shown to increase your chances of a profitable forex trade by up to 30%.
When Do I get in to a trade?
When a trade opportunity presents itself an alarm will sound to tell you which pairs have possible trades.
When do I get out?
Finally, when to get out of the trade. The hardest part of forex that I find is knowing when to close the trade, ie getting out too soon. Again Dean Saunders has a simple solution. When a candle crosses a specific ema (line) and closes through it. Get out.
Concerns
The only thing that concerned me initially was that for those of you who can only trade the daily forex charts, I didn’t think you could just set it and forget it as they claim in their marketing. I thought that you would need to sit around to wait for the 1st profit target to be hit and then move the stop loss to break even on the second lot. However there is a trick with metatrader that solves that potential problem.
The LMT Forex trading formula. Does it work ?
Week 1 forex trading the lmt forex formula on a demo account (I wish i’d done it on my live account)! I made over a 1000 pips with the lmt formula.
Update: I went live using the LMT friday 29th May 2009. By tuesday morning, 2nd June I had made 1500+ pips !! At $10 a pip that would have made you $15.000 in 3 days! This was simply astounding. Some of my followers who are relatively new to forex gained 400/500/600 pips in their 1st week (see comments bottom of this page)
Had I started last week, trading on the daily charts I would be currently 3800 pips up and still going strong !!
The only problem if you are new to forex trading is that you need to use some discretion before deciding to take some of the trades. Sometimes the LMT will signal 7 or 8 trades all at the same time !! You need to learn which trades have the greatest potential and which ones to leave. You also need to use strict money management rules.
Therefore for those of you who join the system from my link I will do an “lmt advisory service.” I have written a number of articles for “LMT advanced forex trading rules.” I will email you details and reasons why I did (and, just as important, why i didn’t take the trades). Also, if you have any questions feel free to contact me.
The product comes with a 60 day money back guarantee, so you have nothing to lose and plenty to gain. However Dean Saunders has said that he will limit the number of members he will allow so that he and I can provide the level of support to our respective followers.
Check to see if its still available:
Conclusion
As i said at the beginning I hardly ever recommend a forex training product as most of them are scams or at best not worth the paper that they are written on. This is the 1st new forex product that has got me excited in a long time. At the end of the day if you are serious about trading currencies and risking $1000′s then you have to spend some money on improving your forex education.
I told you at the beginning of this review that I lost approx $20.000 in my first 3 years forex trading because I was trying to do the “quick” trades. The 4 hour and daily charts are a lot less stressful as well as more predictable in my experience. The sooner you can get away from these small time frames the better.
Use the banner link above or below to join the LMT Forex Formula. Email me with your confirmation details (marc@forex-fxtrader.com) and I will include you in my lmt advice service. I will email details of trades I made and answer questions that you may have,
good trading, regards marc