LMT Forex - watch my account from the start

Hi guys!,


New thread about another trading strategy, that i got informed about by the guys from fapturbo. You know me allready from the "Watch it from the start.." thread about Fapturbo.

It is not a robot, but a strategy that follows longterm trends on whatever currency pair, with a set of some very simple rules to follow. It is called LMT forex, whree LMT stands for Low Maintenace Trading, which means you can use this system by watching the charts and follow the triggers and indicaters about 15 minutes a day to set up and maintain your trades.. so this is NOT a robot, but requires manual opnening and maintaining trades.

This does not mean it does not use software, because there are two indicators to load and an expert advisor, these are used to indicate a trend and provide you with trade setup values for stop loss and a target that must bes set and a trigger indicator. All is explaned and demonstrated very clearly by the maker himself without any hype or fluff once inside the members website. Especially the video about the expanation of the trading setup with examples is very good, also the manual is very extensive and explains everything with some examples and even some minor variations on how to use the system.

As said it is long term, so trades may be open for several days, if not weeks, but when running a long term trend this can be very profittable, of sometimes 1000 or more pips profit per trade. But at the other hand LMT advises about 15 pairs you can use with this system simultaneously, so it will provide plenty of trading opportunities.

After reading the website, watching a video and a PDF document, I am convinced this may be a very very good method indeed, and after just one week the producer is allready announcing an update, which will make it even easier to use.

What I like is that it does only require a few minutes per day, it is not a scalping method, it uses the daily charts, which you really have to check once a day. Trends formed on daily charts can run for days, sometimes weeks on end whith huge profits, drawdown is kept to a very minimum, only at the start of a trade there is a small risk of being stopped out (advised stop losses are sometimes 200), but once a trend sets in, the stop can be set to break even, or, what I can do by running it from VPS, add a trailing stop.

I have setup the system a few days ago, on a tadawul demo account, because I still have to learn the system, if after a month it still works OK for me, I wil start using it on my live account as well. It runs of my VPS, so this makes it possible to use trailing stops, you see it allready has made its first profittable trade and the floating trades are in profit as well.

I will keep this thread up to date, so you can see how i am doing, I will also keep you updated about the support of LMT and everything about it..

First week so far so good!

LMT FOREX on TDFX DEMO
http://www.mt4stats.com/pic.php?user=jlTDFXLMT=white

Click on the stats for more details.

Sales page (not mine! I got it from fapturbo): LOW MAINTENANCE TRADING FORMULA

Have fun!

Lots

stats DO work now..

Quote:

---

Originally Posted by justlooking

Hi guys!,


New thread about another trading strategy, that i got informed about by the guys from fapturbo. You know me allready from the "Watch it from the start.." thread about Fapturbo.

It is not a robot, but a strategy that follows longterm trends on whatever currency pair, with a set of some very simple rules to follow. It is called LMT forex, whree LMT stands for Low Maintenace Trading, which means you can use this system by watching the charts and follow the triggers and indicaters about 15 minutes a day to set up and maintain your trades.. so this is NOT a robot, but requires manual opnening and maintaining trades.

This does not mean it does not use software, because there are two indicators to load and an expert advisor, these are used to indicate a trend and provide you with trade setup values for stop loss and a target that must bes set and a trigger indicator. All is explaned and demonstrated very clearly by the maker himself without any hype or fluff once inside the members website. Especially the video about the expanation of the trading setup with examples is very good, also the manual is very extensive and explains everything with some examples and even some minor variations on how to use the system.

As said it is long term, so trades may be open for several days, if not weeks, but when running a long term trend this can be very profittable, of sometimes 1000 or more pips profit per trade. But at the other hand LMT advises about 15 pairs you can use with this system simultaneously, so it will provide plenty of trading opportunities.

After reading the website, watching a video and a PDF document, I am convinced this may be a very very good method indeed, and after just one week the producer is allready announcing an update, which will make it even easier to use.

What I like is that it does only require a few minutes per day, it is not a scalping method, it uses the daily charts, which you really have to check once a day. Trends formed on daily charts can run for days, sometimes weeks on end whith huge profits, drawdown is kept to a very minimum, only at the start of a trade there is a small risk of being stopped out (advised stop losses are sometimes 200), but once a trend sets in, the stop can be set to break even, or, what I can do by running it from VPS, add a trailing stop.

I have setup the system a few days ago, on a tadawul demo account, because I still have to learn the system, if after a month it still works OK for me, I wil start using it on my live account as well. It runs of my VPS, so this makes it possible to use trailing stops, you see it allready has made its first profittable trade and the floating trades are in profit as well.

I will keep this thread up to date, so you can see how i am doing, I will also keep you updated about the support of LMT and everything about it..

First week so far so good!

LMT FOREX on TDFX DEMO
http://www.mt4stats.com/pic.php?user=jltdfxlmt&bg=white

Click on the stats for more details.

Sales page (not mine! I got it from fapturbo): LOW MAINTENANCE TRADING FORMULA

Have fun!

Lots

---

I noticed the price has gone up to $149.. a few days ago I got it for $97

Lots

LMT Forex is a great new trading system, I just hope the price stays low :)

Hi guys!,

So far so good. Dean saunders has updated the system already, it now also can send email alerts, which comes in handy when running from VPS like I do, further it now shows the time when a candle closes and a few other minor improvements. Also some bugs have been ironned out.

I used the first target as a traling stop with some trades, some of these have stopped out.. in profit, but probably to early.. the open trades did not reach their first target yet. I am also a bit unsure if this first target must be reached or exceeded at the time a candle closes or somewhere inside a candle. I will just wait when these trades pass initial the first target and then set the SL to break even.

Still learning though, reread the manual a few times, to make sure i understand everything correctly.. One rule I missed is the One At A Time rule.. which says that another trade should not be opened before a previous trade stop loss has been moved to break even. This way you do not endanger your account to be adding up losses on losses.. If one trade SL is break even, it cant make a loss anymore so it is safe to open another trade.

I hope it keeps going so well as it has started... up 10% after just three trades.. not bad!

LMT FOREX on TDFX DEMO
http://www.mt4stats.com/pic.php?user=jltdfxlmt&bg=white

Click on the stats for more details.


Have fun!

Lots

Justlooking, do you trade H4 timeframe or just daily in your stats?

Quote:

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Originally Posted by britney

Justlooking, do you trade H4 timeframe or just daily in your stats?

---

I am only using the daily charts.

One trade (GBPJPY) hit the stop loss tonight, note this was a bad decision of me to enter the trade in the frst place.. signal had past long ago when I opened the trade. Trades should be set up close to the signal, otherwise chances are big you get stopped out, because the stop is not correctly set.

Lots

All trades that were still open have stopped out.

Note that these stops are my own fault, I have entered the market at the wrong time with these trades, resulting the stop loss were at the wrong levels. Trade signals for these trades had passed more then 24 hours before I entered the market. The USDJPY trade that stopped out yesterday never has been in a profit situation.

So now waiting for the next signals :-)

Lots

Hi guys,

I had two signals begin of this week and entered two trades. The eurusd ended with a nice 100+ pips profit when it hit the traling stop, the usdchf trade is still floating around its opening, so the trend has not really set in yet.

The improved LMT software is very handy, it now shows exactly when the signal was triggered, I just check every night just after closing of the daily candle to see if there are new signals.. This really seems to work for me, but stll figuring out how to exactly use the Initial Target value.

With the eurusd I did set the SL to break even, when it had passed the Initial target at the close of the candle and later added the stop loss when is was at a value way above Initial target. A pitty it fell back so much it hit the trailing stop, otherwise I could have made a little more profit.

Lots.

Hi Guys,

The last open short order on USDCHF closed at the stop loss, the huge swings of today with the USD were not good for this trade.. So still at a loss, due to the mistakes at the start.

Lots

Hi guys,

Not many signals lately, I have opened a long trade a few hours ago on eurusd, stop loss at the signal value, no trailing stop yet and no take profit yet.

Dean Saunders has send another update, I will install tonight, only bug fixes and an updated manual.

Lots

Hi guys,

Installed the new LMT update a few days ago, not many differences on the outside.

That eurusd trade hit the stop loss, it went down in a bullish way, which was too much for the stop loss.

But I think I am still entering the orders at the wrong moment, I did it in the morning when I noticed the signals, but I think the trades must be entered right after the signal is given, do a quick check of the 4 parameters to be checked and enter the order when everything seems OK... Right now I have not the posibility to that, because I am on vacation, but I will start doing it this way right after I get home.

Right now I had orders opened at the time a huge candle allready had formed.. and retraced quite a few times, causing the trades to hit the stop loss..

Maybe I should use the two candle stop loss procedure, in stead of teh stop loss value in the signal... Will try this as well and see how that works.

Ok, that is it for now, will be back in a few days,

BTW, any comments or advise is appreciated, so make it more like a discussion, then only me floating the forum with my experiences :-)


Take care

Lots