I was invited to beta test the new LMT Forex Formula system by Dean Saunders, the creator of the immensly popular 10 Minute Forex Wealth Builder. I am a great fan of the 10 Minute Forex system, so I was very excited to see what this new product was all about. Is this system worth buying? I believe it is..see my full review below.
The LMT Forex Formula promises to be the perfect solution for the part time Forex trader - a trading system that is 100% mechanical, 82% accurate and only requires 15 minutes of work every day. What exactly is the LMT Forex Formula? Let’s start by looking at what this system is NOT. The LMT Forex Formula is not a Forex Robot that trades automatically. This system comes with special indicators that alert you when trading opportunities occur, but you still place and manage the trades yourself. This means that you are not tied to a specific broker and always remain 100% in control of your own trading.The second thing that the LMT Forex Formula is not is a scalping or intraday trading system that requires you to place many small trades every day. This system is all about large movements in the currencies and is designed to earn hundreds of pips per trade. You will get around 2-3 trades per week and sometimes stay in these trades for days before taking large profits.
Click Here to Visit the LMT Forex Formula Homepage
What Does the LMT Forex Formula Consist Of?
The LMT Forex Formula consists of the following core components:
The LMT Forex Formula Manual
The manual is the core of the LMT Forex Formula system. It consists of a 60 page downloadable pdf document that contains absolutely no fluff of unnecessary information. The manual contains all the details and secrets of how the system works. Once you have finished reading the manual you will be ready to start trading with the LMT Forex Formula techniques immediately.
The Custom Indicator Package
The LMT Forex Formula comes with a special indicator that searches for trading opportunities and alerts you when a possible trade presents itself. This indicator makes the LMT Forex Formula almost 100% mechanical. Once the indicater has identified a trading opportunity, all you need to do is follow and perform 3 basic checks to determine if the trade should be taken or abandoned.
The Video Tutorials
The video tutorials included in the LMT Forex Formula package are already worth the price tag of this product. Inside Dean teaches you how to put the techniques that you learned in the manual into practice. Dean walks you through everything from setting up the indicators to entering the trades and managing your open positions. The videos also include many live examples of trades that you can follow.
Customer Support
I have bought more than one of Dean’s products before and the one thing I have been very impressed with is his excellent customer support. He is always available via email and usually responds to questions within 24 hours.
What I like about the LMT Forex Formula
I have only tested the LMT Forex Formula for a short while, but the testing results I have seen so far has been very impressive. Those who trade actively with this system frequently report large winning trades of more than 300 pips and conservative results show that it is possible to easily make around 500 pips per month by only trading the one or two best setups every week.
Another great thing about this system is that you can use it with ANY broker, you are not forced to use a Metatrader broker like you are with all the Forex robots. The custom indicator requires Metatrader, but you can easily use a free Metatrader demo account for your trade signals and charting while doing your actual trading at a different broker.
The launch price of $97 is very affordable. Just the money management techniques that Dean teaches in this system alone is worth this price and if you consider that the product comes with a 60 day money back guarantee, then this is really a low-risk purchase. Dean did say that the price will increase to $149 after the launch, so if you still want to get it for less that $100 then time is running out.
Click Here to Visit the LMT Forex Formula Homepage
What I Don’t Like About LMT Forex Formula
There aren’t many negative things to say about this system, but there are 2 things that I think should be mentioned.
Firstly - the LMT Forex Formula uses the daily charts and you have to be in front of the pc just after the daily bar closes each day to look for trading opportunities. Most brokers close their daily bars at or around midnight GMT time, which could be at an uncomfortable time for you, depending on the country you live in. However, the good news is that you will know ahead of time if there is any possibility of a good setup or not..on most days you will see that there is no chance of a trade (the indicators will tell you that), so you don’t even have to wait for the daily bar to close. On the days that a possible setup occurs, you really only need to spend 15 minutes in front of your pc to setup your trades.
Secondly - even though the LMT Forex Formula is 90% automated and mechanical, there is still a small component of human discretion and judgement, because you have to place and manage the trades yourself. This means that you will need some practice and it might take a few weeks to perfect the technique before you can start with live trading. However, even Forex robots have a learning curve for new users and it is always a good idea to test a new system on a demo account for at least a few months anyway, so this should not be a problem. If you read through the manual and watch all the training videos it should not take you more than 3 trades to get comfortable with this system, so the learning curve is not very steep at all.
My Conclusions and Recommendations
Any Forex product by Dean Saunders is always worth investigating and the LMT Forex Formula is definitely one of the the easiest, most accurate Forex trading systems I have ever come across. If you are looking for a system that is almost 100% mechanical, but still under your full control, then I definitely recommend that you check this one out. Once you feel what it is like to take 500 pips profit in one trade off the daily charts you will never be interested in short term scalping methods again.
Click Here to Visit the LMT Forex Formula Homepage
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