The LMT Forex Formula Review
from LMT Forex Formula.com
The LMT Forex Formula Review - Product Description
The LMT Forex Formula by Dean Saunders is a manual forex trading system that uses an expert advisor to alert you to very profitable trading opportunities. Essentially, it is a swing trading system that trades with the dominant trend for winning trades that range from 100 to 1,000+ pips.
With the LMT Forex Formula, you don't have to spend hours a day in front of your computer to bank in tremendous profits. In fact, you only need 10 - 15 minutes a day to identify very profitable trading opportunities. The great thing is identifying a trading opportunity is simplified even further by the use of the custom indicators that come as part of the package.
When you have set up your charts, all you do next is to wait for the custom indicators to alert you to a potential trading opportunity. Once you get a potential trading opportunity, the next thing you do is to confirm that it is a viable one based on the 4 trading rules that are included inside the LMT Forex Formula manual.
If it's a good opportunity, you then enter your orders, place your stop losses and take profits, and shut down your trading platform until tomorrow.
The LMT Forex Formula system does the following:
- Check current long term trends - Ensures you are trading with the trend and not against it for larger profits
- Calculates an 82% accurate point of entry
- Calculates the exact stop and take profit levels based on the current market conditions. This takes the current market volality into account for the right amount of breathing room for your stop losses and high probability profit targets.
- Keeps you with the trend for as long as possible by using dynamic trailing stops.
- Trade with less than 15 minutes a day at your charts when you use the LMT Formula
What You Get With Your LMT Forex Formula Purchase
When you buy the LMT Forex Formula system, you get the convenience of automation combined with the power of human control. You get:
- The LMT Forex Formula Manual
- The Custom Indicator Package
- The LMT Forex Formula Video Tutorials
- And other complementary bonuses
You get access immediately after your purchase is confirmed as all the materials are downloadable from the internet.
If you have been looking for a good trend trading system that requires very little time to manage, then the LMT Forex Formula might just be what you are looking for.
Visit the official LMT Forex Formula Website >>
Product Research on the LMT Forex Formula
Dean Saunders doesn't pack a lot of fluff in his LMT Forex Formula Manual, so it makes it a quick read to get to the essential information.
When you first start reading the manual, he takes you through the basics on what forex trading is and how to set up your trading platform with the indicators. The initial part of the manual is catered towards novices who need clear step-by-step instructions on how to set up their trading charts.
It's also good for the more experienced to at least skim through this section to make sure you are setting up the custom indicators and charts right.
Dean Saunders also takes you through a short and sweet explanation of the trading rules that trigger a trade. Although the custom indicators take care of this, he makes sure that you have a better understanding of how the signals come about. This way, you can double check the signal with the indicators for double confirmation.
Time Frames for the LMT Forex FormulaThe LMT Forex Formula can be traded on the daily and 4H charts, but when you attempt to go into the lower time frames the indicators will inform you that they are designed to trade the daily and 4H charts only. In its own way, it's a good thing because it prevents over eager traders from trying to trade the system on every timeframe from the 1 minute all the way to the daily.
Included are also the different trailing stop methodologies that you can employ with your trade. You can use the trailing stop methodology that reflects what you want to accomplish depending on whether you are a conservative or aggressive forex currency trader.
Personal Comments on the LMT Forex Formula
The LMT Forex Formula formula provides you what you need to know in order to trade the LMT system. However, it doesn't provide you with lessons on Support and Resistance (which you can get on Smart Trading for Profits anyway).
One of the key things that I find would make the LMT Forex Formula successful is the calculated Stop Losses and Take Profit (TP) targets. Once the TP is hit, it is good to move the stops to breakeven so that it becomes a risk free trade. But unless you are using the automated trailing stop within the MT4 platform, this can become an issue if the TP is hit during the day while you are not around.
To solve this issue, you can break your trade into two and exit 1/2 at the first TP. This locks some profits straightaway, and when you next check up on your trade you can always move the stop loss to breakeven.Of course, this means that you don't get the full portion of your trade making profits if the currency goes on to make a huge trend. But this is a give and take situation that comes up with any forex trading system, so you'll have to decide what you want to do and then follow through with it.
The LMT Forex Formula is a powerful trend trading system that identifies the trend for you, and then alerts you when there is a return to the main trend after prices have retraced. This alone saves you a lot of hassle in a trend trading system, but it doesn't mean that you blindly take every trade that is signalled.
Here's an example of what a classic LMT trade would look like:
As with all trend trading systems, you tend to get some whipsaws during trading ranges. However, the stop losses and calculated take profit targets are based on volatility which help to increase the probability of a successful trade.
The LMT Forex Formula is a powerful trend trading system that has the potential to deliver a lot of profits when consistently followed and traded well.
I've also started a category section on the Smart Trading for Profits blog, where I share my thoughts and analysis based on the LMT Forex Formula system on current market conditions.
Read my blog posts on the LMT Forex Formula System >>
OR
Visit the official LMT Forex Formula Website >>
Customer Feedback and Comments on the LMT Forex Formula
These are some of the comments and feedback that we found on the LMT Forex Formula:
I have been trading for approximately 18 months and have tried numerous strategies, systems and robots. Many are not worth the money. LMT has worked for me, not only as a 'stand alone' system, but as a useful trigger for other trade setups. I recently purchased another system from Dean but felt that, despite the fact it was excellent information, it was information I already had. I emailed Dean explaining this and received my refund the same day. You can't ask for more than that. I highly recommend LMT, but more importantly, I highly recommend Dean Saunders.
JR, Australia ~ http://www.forexpeacearmy.com/public/review/www.lmt-forex-formula.com
I traded on the 4 hour charts, and even though those are supposed to be a longer term trades, I found several trades going straight to stop loss in less than 90 minutes. I did have some winners too, but again, it definitely was not better than 50/50, so like I said I can just flip a coin for free and get the same result rather than spend money on a system. Maybe I just didn't stick with it long enough, who knows.
And I hate the website. It's filled with all those tired marketing ploys you see on almost every forex website that's selling something. Stuff like: "I am not sure how many copies of LMT I can let go at this price!", "price increasing to $497 soon!", "If you see the sign 'SOLD OUT' in place of the order button below you are too late."
Bob, USA ~ http://www.forexpeacearmy.com/public/review/www.lmt-forex-formula.com
Although Dean seems like a really nice guy, and actually answers emails, I have to be honest with this review. Part of the problem with my unsuccessful results may be that I just didn't give it enough of a chance, but after 5 or 6 weeks I gave up with this system.
The main problem I see with it is it seems to completely ignore support and resistance levels, which are crucial. It would often signal a buy at or near a major resistance level, or a sell near a major support level, than get stopped out a day or two later.
Serge, Canada ~ http://www.forexpeacearmy.com/public/review/www.lmt-forex-formula.com
Have purchased all the LMT products as this makes a complete package for trading in all conditions, I have read many books, articals and puchased countless methods / systems including EA's and absolutely nothing comes close to what these guys are offering. Dean & Marc are the complete package, maybe the LMT system is close to other systems but what you do get that is never offered with other systems is complete advice, that in my opinion is priceless. those people who say that that they might as well flip a coin have not read the manual properly or absorbed the contents of the videos that come with the package. LMT is a trending system ( 4 months of the year) it says in the manual don't take trades into support or resistance, descretion is required always, look at what the charts are showing you and also understand some of the basic candle patterns, with this system you can win. The site also offers a mentoring group ( at a small cost) it comes with tutorials videos and a blog that is updated daily all PRICELESS!!! when the markets are not trending other trading methods are offered.
Mike Reed, Sussex, UK ~ http://www.forexpeacearmy.com/public/review/www.lmt-forex-formula.com
Visit the official LMT Forex Formula Website >>
Have you used this product?
If so, please leave a comment below.