LMT - which candle do you enter on?

[julianj]

Hi all,

I haven't been trading with the LMT because it's on its summer break! (wish I got one too!) although I have been using it as an indicator of the trend direction, such as it is.

But I have now completely got confused about where you enter using the LMT. Is it on the 4 hour candle start after the close of the Trigger Signal candle?

I want to put this in my notes so I am ready to use it when it comes back from the costa brava with a swagger and a tan.

Thanks

Julian

[raa]

Hi Julian, the normal way is to wait when candle is completed and arrow is produced, however ofter price will retrace some, so you can wait a bit and enter with a smaller stop and larger 1st target, but sometimes you may lose an entry if price rockets away.

[julianj]

Thanks Raa

J

[raa]

just remember, once the level of 1st target according to LMT is hit, the trade has worked out and even if it pulls back you should not re-enter

[Thomas]

Raa, what timeframe do You find most successfull with the LMT - 4H or daily?

[raa]

I think Marc is the best person to answer that. I don't trade LMT pretty much since April, when all this craziness started and I don't really trust LMT anymore. Maybe makes sense to start following closely in September..