Hi Marc here. The LMT is the 1st forex "system" that I ever endorsed. Most forex "wonder products" that I ran across were either a scam or vastly over-priced and most a combination of both.
However, I started to use the LMT (low maintenance Trading) forex formula to trade currencies since mid May, at first on a demo account. My gains were so huge that I soon started to trade with real money, but with a smaller stake than normal.
The 1st week I had the system, had I taken every trade the result was 3800 pips!!
The next week I traded on a demonstration account for 1000+ pips.
I have never seen anything like this in 5+ years of forex trading.
From mid May to July it worked incredibly well (80+% winning trades).
The software is attached to your free metatrader trading platform & gives an alarm/signal when a potential trade arrives (either every 4 hours or daily charts - so you are not sat at your computer all day).
In my 1st 2 days of trading the LMT on a live account my results (as posted on the blog 2nd June were as follows;
"I made 1017 pips closing fridays trades and 566 today. I earned more money in 2 days than I used to earn in a month and I was still mainly on reduced stakes of $3.30 a pip. My normal stake is well over $10 but caution is best when using a new system.
My trades were; 363 on gbp/yen ( i was up 460 at its highest point), +110 aud/yen (180 high) and +93 euro/yen (160 high) for a total of 566.
I also closed fridays trades for gains of 435 gbp/$ ( was up 212 friday night), 247 Nzd/$ ( 180 friday night) and finally cad +335. Fridays total therefore was 1017 pips !!
In the same post Jaime in his first few days with the system reported winning 600+ pips: “Marc let me tell you so far 600 pips on GBPJPY, EURJPY . You hit a HOME RUN w/ this LMT advice.. thank you.”
There were times with the system when you could simply take every signal that came along (alx here on the forum had 29 winners out of 29 in one day)! and in more difficult times it helped If you use discretion and a copy of my advanced rules.
Summer Markets
Most experienced traders (including stock, commodities & bonds) walk away from the markets during the summer "lull". From mid July until the end of August I told my 500+ LMT registered followers to leave the LMT alone until the end of the summer vacation/thin markets.
The reason for that advice is that the system relies on following market trends. In summer markets the trends disappear and more often than not, price starts to range (move sideways). Result? The LMT didn't work anywhere near as well. This was to be expected. No system in my experience works in all markets whatever the forex marketeers will try to have you believe.
I am writing this 29th august 2009. I fully expect the markets to resume trending in the next 7/10 days as the BIG traders (banks & hedge funds) return to the markets. Usually the markets trend best from January to late June & September to Christmas. If you look back on the daily charts for numerous currency pairs from February to late June you can see that we would have made phenomenal pip gains. The gbp/$ alone would have made you 3000+ pips!!
I have no reason to doubt that the LMT will soon return to being 80%+ successful & we shall have the opportunity to make a lot of money.
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.
I bought the LMT not expecting it to be anywhere near as good as Dean Saunders claimed, however I have bought some of hs other products & having met the guy he urged me to give it a try. It has a 60 day guarantee so I had nothing to lose. The software is extremely easy to download & install.
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.
The LMT Forex 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. Update to this I have today bought Forexexecutor pro which is a neat little addition to metatrader. It has loads of benefits for USA followers who are being handcuffed with the new NFA rules. But especially For LMT followers who can only trade the daily charts it has an awesome trick for moving stops to break even at a point of your choosing.
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 to join the LMT Forex Formula. Email me with your confirmation details 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
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