Comments on: LMT Forex Analysis July 5th 2009

By: alx

alx — Sat, 01 Aug 2009 22:53:31 +0000

Kevin,
for a week or so Marc and me post here or twitter to stay away from LMT trading.
This is a TRENDING system. Markets ARE NOT trending. They are in SIDEWAYS and CHOPPY action. They will remain like this till the end of August.
Once they find new trends, the LMT will get back to its marvelous 80+% winning ratio.
Stay away and you’ll be safe.
ALX

By: Kevin Joyce

Kevin Joyce — Sat, 01 Aug 2009 16:32:25 +0000

Hi Marc,

It’s been a tough week for LMT. 7 signals on the 4H yesterday all going the wrong way on top of a pretty bad signals week. Its a great pity as this type of week makes all the future signals suspect and therefore untradable. …and I had such great hopes!
Kevin

By: Gally

Gally — Wed, 22 Jul 2009 18:31:54 +0000

Your’re right, of course you can. Just take the signal and use it however. I Spread Bet for tax reasons, so use IGI, ODL (sometimes) and a couple of other providers. But run FM and Alpari, and get the signals form Alx.

By: sandra

sandra — Wed, 22 Jul 2009 14:48:27 +0000

Hi Marc, thank you for your answer. are you actually trading with forex meta or are you just taking the signals from them and placing them on a live account with Dukascopy ? I’m asking mainly because forex meta’s spreads seem quite big – about 20-30% larger than alpari’s or other brokers’ this side of the pond… A more general way to formulate the same question would be if one can place a trade based on a LMT signal received from a different platform?? If the answer is yes, then the whole matter becomes very interesting, because it doesn’t matter what broker one has a LIVE account with or even if LMT is attached to ANY chart on the platform associated with the live account; all that matters is to have several platforms with LMT attached and with different beginning hour for the candles… Am I wrong? sandra

By: Marc

Marc — Tue, 21 Jul 2009 15:03:01 +0000

Hi sandra, forex meta gives you the hour earlier than alpari. its deans recommended broker & we seem to get more trades from it, marc

By: sandra

sandra — Tue, 21 Jul 2009 09:16:07 +0000

Marc, which of your MT4 platforms give you signals at 1-5-9-13-17-21 GMT, please? I use Alpari UK on a demo and I know that their H4 candles begin an hour later than that. I also use another broker based in Cyprus (Tadawul) and they have the same candle hour as Alpari, altough I would have thought they would be earlier…
Thank you!

By: Jennifer

Jennifer — Tue, 21 Jul 2009 05:24:29 +0000

Hi Marc,

Just sign up w your subscription. Cool stuff you have here.

: )

By: Kevin Joyce

Kevin Joyce — Thu, 16 Jul 2009 18:00:13 +0000

That clears up a bunch for me. Hate to think I was missing out on something as a result of a tech problem.
Last week was so good during my first few days before the actual trades…and this week all is evaporating beford my eyes as I move into real trades…I’ll get the hang of this eventually.

By: Marc

Marc — Thu, 16 Jul 2009 14:56:35 +0000

Kevin. If you turn off or go off the lmt profile you have to click “expert advisers” button at the top of the metatrader page. Gold is NOT a recommended pair for the LMT. This system works brilliantly if you follow the rules. ie 4 hour & daily charts & ONLY the 10 recommended pairs. Gold is highly volatile at the best of times. Marc

By: Marc

Marc — Thu, 16 Jul 2009 14:45:06 +0000

Hi kevin. The problem is that so many pairs at the moment are moving sideways that they are only just trending one way or the other. At the moment it is very risky to stay in any daily trade long term as the trend keeps evapourating. I recommended in the latest update to only take trades when the trend is the same on the 4 hour chart and the daily at the same time.
I also said it was best to take smaller profits. The motto is “if in doubt stay out.” If I had a trade where I was in profit but the trend changed I would either get out or move the stop to entry to prevent a winning trade becoming a losing one.

Re the twitter thing. By looking at the trigger bar you can see in advance if we have had the 3 qualifying bars, followed by an opposite eg, 3 or more green followed by 1 red, we can predict from current candle position that if the next trigger is a red we will have a trade. I always look at least 30 minutes before a candle close to see what may develop.
The one you just referred to we had 6 signals all at once. So, you need to plan BEFORE they arrive, which to take and which to leave (again this is all in my advanced rules) The only charts we use are the 4 hour and the daily.
Do NOT use the LMT on a 1 hour chart. AS per my advanced rules if you trade on the 1 hour it is NOT an LMT trade.