TradeProfits

Review of LMT Forex Formula from Dean Saunders

Posted on 25. May, 2009 by admin in Review

This took me a bit longer than expected, but as I am having three exams in the upcoming weeks, I am rather busy. Anyway, let’s have a look at what you get when you buy the LMT Forex Formula from Dean Saunders. It is sold for a price of $149 which is rather typical for products in this category. One thing to note, is that this product is sold through clickbank, so you have a guarantee to get your money back if you don’t like what you get. Right after payment, you are taken to the membership site, where you will have access to the files and videos. You will get four indicator files, which is to be used in metatrader (which can be downloaded for free here). One of the files is a template file, so when you have done the uploading, you simply have to launch the template file in metatrader, and you are up and running. This is all very easy, and well explained in the pdf file.

Okay, so we got the files; what about the ebook. Well, basically it is just an explanation of how to use the indicators. One thing which is always covered in these ebooks, it the basics of the forex market. The same goes for the LMT Forex Formula, where he starts off with an explanation about the currency market, what it is, who is trading it, etc. I guess it is a good idea, since a lot of novice forex traders are buying this, but I am a bit tired of reading about it. After this short introduction, Dean goes into details about the different currency pairs, and the aspects of bid and ask. The LMT system is best suited for the major pairs, but can also be used for other ones. Then there is a short section about news reports, and how to manage these. This is not really a problem, since the LMT Forex Formula system, is traded on the basis of daily candle sticks, hence after daily news reports have been released. Next section is about brokers and software. As mentioned above, Dean suggests Metatrader, and this is followed by an explanation of how to download it, and set it up, so you are ready to trade, using the LMT system. The next part is about money management, where Dean suggests risking no more than 2% at any trade. A sound advice which you should follow! Next section is about time frames. As mentioned above, this LMT Forex Formula is to be traded on the daily charts, but can also be used on the 4 hour charts. When trading 10 pairs, you can expect to have about 2 – 3 trades a week, using the daily charts. The next part is about when to enter, and how to spot this signals. This is a rather easy task, as it simply involves looking at the indicators. Dean also points to some candlestick formations, which should be taking into consideration when entering a trade. This is a great aspect to bring along, which is often left out in other systems. The best thing about this system is that it is a trend following system. Already here, you odds are way better than if you were using some system trying to pick bottoms and tops. Stop losses is calculated automatically, and will be posted in the top of your metatrader software.

The next and last section is used to show some examples, and how trailing stops can be applied to the system. All of the system rules are set up in numeric order, with a short sentence on what to be aware in each step, and the ebook is finished with a conclusion. All is all it seems good. It is easy to understand, and using the system should be no problem at all. LMT is a shortening for Low Maintenance Trading, and this sure is a right phrase for this system. Checking for a trade and setting it up will take you no more than a few minutes every day. Another positive aspect of the LMT is that it removes a lot of the psychological difficulties which is related to trading, as this is almost a set-and-forget system. I have not been using the system as of yet, but I will begin to do so, within a couple of days. Is the product worth the price? I can’t tell, as I have not tried it yet. But if the system is 82% accurate, as Dean states, then yes! This also seems more reliable than EA’s stating to have 99.9% accurate trades. Furthermore, I know from Deans last product, that his products are way better than the majority of other products out there. So I think this one should pay off. I will let you all know when I have been trading with it for some time. One last thing which I find a bit lame, is that when you go to the sales page, you will see that the product is “sould out”, but if you scroll down a bit, you can click “order now” and you are taken directly to clickbank. A marketing stunt or simply a mistake? I don’t know, but it sure seems like there still is a chance to grab a copy.

If you have bought the LMT Forex Formula from Dean Saunders, please share your thoughts, and let us know what you think of it, and how you have been performing.

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Tags: Dean Saunders, LMT Forex Formula