LMT-FOREX-FORMULA-TRADE-RESULTS
69LMT Forex Formula
LMT Forex Formula By Dean Saunders
My son purchased LMT Forex Formula By Dean Saunders today June 8 2009 for me for my birthday. He told me I needed to throw out all my forex trading robots and learn Deans course.
So I installed it this morning. Studied it this afternoon. Made my first trade tonite.
On the first trade I went short on nzd/usd with two posistions. Closed out the first posistion with a 27 pip profit. As of now the second posistion is still open and in profit of 30 pips with a stop loss at break even.
I will keep a log of my daily trades on this site. So check back often for my updates.
Tim K.
LMT Forex Formula
Just opened my second trade. Went short on gbp/jpy. Target is 47 pips.
Will keep updated.
June 9 2009
 Todays trade Results For LMT Forex By Dean Saunders.
3 trades today all winners. Total 101 pips.
gbp/jpn 33 pips
usd/jpy 28 pips
usd/jpy 40 pips
June 10 2009
 eur/usd 27 pips
eur/usd 25 pips
eur/usd 22 pips
aud/usd 28 pips
June 11 2009
june 12 2009
two trades two winners
usd/jpy 60
nzd/usd 65
June 15 2009
3 trades today, 3 wins.
sell eur/gbp 18 pips
sell gbp/jpy 99 pips
sell gbp/jpy first lot closed for 35 pips. moved second lot stop loss up to entry. Free trade from now on.
Just moved stop loss up to lock in another 25 pips on gbp/jpy.
Just moved stop loss on second lot up 50 pips. So I locked in 50 pip profit on second lot.
Just closed aother lot of gbp/jpy for 193 pip porfit.
Just closed my final posistion for another 166 pips.
476 pip total for today.
June 16 2009
buy eur/cad, bought two lots. closed first lot for 25 pip gain. moved up stop loss to break even. second lot is now a free trade.
just moved up stop loss to lock in 15 pip profit on second lot.
stop loss just hit on second lot. total profit 65 pips.
june 17 2009
I decided to take yesterday afternoon off.
Back at it this morning.
Sell 2 lots of aud/jpy Lets see where this takes us.
27 pip profit. I closed out both lots. Not bad for 30 minutes.
June 18 2009
I took the day off. Had to get housing for my son that is in colledge.
June 19 2009
I seldom trade on friday's. I decided to take eur/cad trade that LMT triggered on 1600 hrs on the Alpari U.S. platform. Lets see what develops.
also took the eur/jpn wich triggerd on meta trader at 1600 hrs.
just locked in 32 pip profit on eur/jpn. closed half the lot. moved stop loss up to entry. free trade from now on.
just locked in 25 pip profit on eur/cad. sold half my lot. moved stoploss up to entry. free tade from now on.
second lot eur/cad stopped out.
decided to sell usd/jpy.
june 22 2009
sell aud/jpy 50 pip win
sold gbp/jpy. closed first lost for 59 pip gain.
gbp/jpy closed second lot for 39 pip gain.
gbp/jpy closed third lot for 109 pip gain.
usd/jpy trade opened on friday-closed first lot out at 39 pip profit.
usd/jpy closed second lot out for 109 pips profit.
june 24 2009
Ticket/Open Time/Type/Size/Item/Price/ S-L /T-P/Close/Time/Price/Commission/Taxes/Swap/Profit
72432913 2009.06.24 16:10 sell 0.50 eurusd 1.4069 1.4100 1.4040 2009.06.24 16:34 1.4040 0.00 0.00 0.00 145.00
72430850 2009.06.24 16:10 sell 0.50 eurusd 1.4069 1.4100 1.4040 2009.06.24 16:34 1.4044 0.00 0.00 0.00 125.00
Ticket/Open Time/Type/Size/Item/Price/ S-L /T-P/Close/Time/Price/Commission/Taxes/Swap/Profit
72534004 2009.06.25 17:44 buy 0.30 eurcad 1.6163 1.6111 1.6260 2009.06.25 20:54 1.6197 0.00 0.00 0.00 88.11
72547513 2009.06.25 17:44 buy 0.20 eurcad 1.6163 1.6163 1.6260 2009.06.25 22:34 1.6163 0.00 0.00 0.00 0.00
72516597 2009.06.25 14:18 sell 0.30 eurusd 1.3931 1.4000 1.3901 2009.06.25 15:58 1.3901 0.00 0.00 0.00 90.00
72480249 2009.06.25 04:53 buy 0.30 eurjpy 134.28 133.68 135.00 2009.06.25 11:51 134.62 0.00 0.00 0.00 105.80
72506354 2009.06.25 04:53 buy 0.20 eurjpy 134.28 134.28 135.00 2009.06.25 14:00 134.28 0.00 0.00 0.00 0.00
june 27 2009
Ticket/Open Time/Type/Size/Item/Price/ S-L /T-P/Close/Time/Price/Commission/Taxes/Swap/Profit
72552646 2009.06.26 00:01 buy 0.50 audusd 0.8029 0.7969 0.8099 2009.06.26 03:21 0.8059 0.00 0.00 0.00 150.00
72560617 2009.06.26 00:01 buy 0.50 audusd 0.8029 0.8038 0.8099 2009.06.26 08:06 0.8059 0.00 0.00 0.00 150.00
june 29 2009
Ticket/Open Time/Type/Size/Item/Price/ S-L /T-P/Close/Time/Price/Commission/Taxes/Swap/Profit
72635677 2009.06.29 04:05 buy 1.00 usdchf 1.0868 1.0800 1.0888 2009.06.29 09:06 1.0888 0.00 0.00 0.00 183.69
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Comments
Hi Mike,
I am using the 4hour and daily time frames.
Hey Tim,
I've been using LMT since the day it was released trading both 4h and 1d. in the begining on demo it worked well but hte past few days have been bad. Taking only legitimate trades (last night USD/NZ) and moving stops but lost most trades this week.
How did you win on these same trades ?
Thanks
Rahm
Hi Rahm,
Yes I agree the last few days have not been too good. First off I do not take every trade that LMT has a signal on. I have a check list of other variables that I go through before I take a trade.
Also when I take a trade and the initial target is reached I close out half of my stake. Also at that time is when I move up my stop loss to my entry point. That way your remaining stake is a free trade from there on out. You can not lose when your stop loss is hit. Lately the trades have been reversing shortly after the initial target is hit. But you can not lose as long as you move your stop loss up to your entry point on your remaing stake.
Tim
Tim,
I do the same 2 lot money management (conservative) but havnt reached TP level in latest trades.
Do you use other checklists than what Dean recommended ?
rahm,
here is a good article about what the fx market is doing now. http://www.aweber.com/b/11F8F
tim
which broker you use, I have alpar uk , gmt +2, and some diff signals
thx
I use two, Alpari U.S., and Forex Meta
ah I check this two brokers and now I can understand your signals, thx
one more question, I see the signal at friday for eur/jpy only trigger at forex meta, on alpari us this signal is 4 hours later. how you decise to take a signal was only show on one of your broker?
have a nice weekend
fx_red,
I have a check list of other variables that I go through before I take a trade. Everything looked good on my checklist.
Tim
Tim, do you use other checks than what deans manual states ?
rahm,
yes I do. I have been trading for some time now. I have learned that you need other indicators on other time frames to have a good chance of taking a profitable trade.
Tim
any checks that you can recommend other than general outlining of trend lines, Dean's checklist and general Forex caution ?
here are two things I like to do in order to confirm if it is a good trade.
I go onto the platform from Oanda. (not a mt4 platform) Pull up the one hour charts. add study EMA 35, and also EMA 75. This tells me if the trend is up or down according to their platform. add study Williams%, if the trend is up according to the ema's, and williams% is -80 or below I know it is a good time to buy (usually, nothing is a sure thing). If trend is down and williams% is -20 or higher, it is a good time to sell.
And remember it is not how many trades you do. but the quality of your trades. minimize your losses.
Have your recent trades been from LMT signals? I haven't has any signals on the 4hr for a day ot so.
...Neil
Why do you use a different platform to check the EMA's and Williams% when they could be applied to your MT4 chart?
Hi Neil,
I just prefer to keep my screen clean on the Alpari Us 4hr, and Forexmeta 4hr. These are the ones I get my LMT signals from, and trade from.
All the trades I took recently are from LMT signals. Most came from late last friday. I believe the gbp/jpy came earlier last week..
Tim.
Hi Tim,
thanks for your info regarding the LMT formula. One question: you say you use a 35 ema and 75 ema along with the Williams% indicator on the 1 hour chart to help in your decision making, yet you say you trade the 4 hour and daily LMT signals. According to the LMT instructions, the system looks up to higher timeframes to establish the longer term trend direction not down to lower timeframes. Am I misunderstanding your comments or are you using your knowledge of forex and applying this to "tweak" the LMT. I only ask because I am new to forex and got the impression from your initial comments that you were using the system as laid out in the basic LMT format. Thanks Andy
Hi Andy,
I am just using it as a tweak per say. Checking for a reversal. i have seen reversals happen so many times. just my way of watching out for them.
tim
Hello tim,i want to ask if the lmt forex signal is working very well without any losing..im asking the question is because im a new trader i just want to start trading and also what did i need to also know about the signal that im going to be using to BUY and SELL as well...
Hi Mike,
Let me first say no system is 100% perfect. The LMT system does not win 100% of the time. No system does.
The LMT system does come with a very good PDF file that explains in great detail how and what to do when it gives you a signal. Also gives you easy instructions on how to set it up. Along with a very good manual on risk and money management. For the money you put out for LMT these last two are worth the price in itself.
Tim
Mike says:
7 months ago
what time frame are you trading? ta, mike.