L.M.T. Forex Formula Review

Overview

The L.M.T Forex Formula trading system is the product of self-taught personal forex trader and mentor Dean Saunders who has been trading forex for his own account for over ten years, since the tender young age of just 16. It seems that one of Dean’s primary and more admirable objectives in developing this Low Maintenance Trading or L.M.T. system was to allow personal forex traders like himself more time to enjoy life.

LMT Forex Formula is Dean’s first and perhaps best-known product for the personal forex trader, and its vendor’s website claims the trading system shows an impressive 82% success rate in generating winning trade signals. Furthermore, the product generally received quite positive reviews at the ForexPeaceArmy scam-busting website, averaging just less than four stars overall.

In addition to his L.M.T. product, Dean offers a well-rated and inexpensive mentoring service along with fellow forex guru Marc Walton called ForexMentorPro. He also promotes his 10-Minute Forex Wealth Builder Program online, as well as his relatively new personal forex product called Forex Powerband Dominator. All of these later products received five-star user reviews at ForexPeaceArmy, so it seems like Dean may have learned well from any mistakes made with LMT.

Unfortunately, the credibility of the vendor page for the LMT product at TheLMTForexFormula.com suffers considerably from the severely over-hyped writing style that seems far too prevalent among websites marketing personal forex products these days. Also, given that the site contains the requisite disclaimer that: “No representation is being made that any account will or is likely to achieve profit or losses similar to those shown,” this sort of sales-driven marketing drivel usually deserves to be taken with a very large grain of salt.

Furthermore, when an Internet search was performed about the product, it turned up a mixed bag of reviews and discussion forum postings, although some of the positive ones actually seemed to come from genuine users and not just from self-interested affiliate marketers. Since an attempt to obtain a review copy via e-mail met with no response after almost a week, what follows represents what we have been able to ascertain about L.M.T. Forex Formula from other Internet sources that might include the vendor’s website.

Facts About LMT Forex Formula

Product Type: A forex trading system.
Vendor Site: www.thelmtforexformula.com
Cost: $149
Guarantee: 8-week no-risk money-back guarantee.
Payments and Refunds: Made via Clickbank.

What You Get with LMT

• 47-page training manual in PDF format
• Quick-start video series.
• Bonus e-book on trading news.

LMT Forex Formula Trading System Characteristics:

• Uses the 4-hour and daily time frames in performing market analysis.
• Runs on MetaTrader 4 as a template.
• Involves a standard set of indicators including a 10-day Moving Average and MACD.

Pros and Cons of the LMT Forex Formula trading system

Pros:

• Trading system can be used with any currency pair.
• Includes a relatively clear and informative 47-page instruction manual describing the LMT trading methodology in detail.
• A trend-following, not a scalping, system so you spend less time trading.
• Good 24-hour customer support, often from Dean himself.
• MetaTrader 4 compatible.
• Uses standard indicators.
• Gives clear and objective trading signals to buy or sell.
• Allows for discretion on trades so you can decide whether or not to take them.
• Provides suggested stop-loss and take-profit levels.
• LMT package includes a free bonus e-book on trading market news.

Cons:

• System only recommends having one trade open at a time.
• Does not trade frequently in range-bound markets.
• Discretionary trading means results can vary significantly between users.
• More user time required to follow this system than using a trading robot.

Conclusion

On balance, the L.M.T. Forex Formula trading system may be just the thing that new forex traders have been looking for to teach them about what a real forex trading plan looks and feels like. It also takes a lot less time to use than most scalping systems, and although the $149 price tag might seem a little high relative to some other personal forex products, that sort of money can be made back with just one successful trade.

Also, the product can be run on the popular and free MetaTrader 4 trading platform which is a major plus for anyone already familiar with that software. In addition, since it is a manual system, it provides traders with some discretion as to whether or not they wish to take its signals.

Furthermore, the system encourages traders following it to get into good trading habits. It does this by getting them to look for trends, and once they think they find one, to position accordingly and then let their profits run. The system also involves entering protective stop losses for risk management purposes.

Nevertheless, those who already have a workable trading system might find this one rather basic, especially since it uses a combination of simple indicators that just about anyone into forex trading has probably already tried out. Some might also find this system trades too infrequently for their purposes when the market is not actively trending. Still others, especially those looking to take a step back from trading the market themselves, might prefer to use a forex trading robot, rather than a more time-consuming manual trading system like the L.M.T. Forex Formula.

Overall, newer traders seeking guidance about how to get started successfully trading forex manually will probably find this well-rated manual trading system product considerably more useful than more advanced traders who are already doing so. Also, the L.M.T. Forex Formula is aimed squarely at the retail forex market, so it pertains directly to anyone trading forex for their own account. We therefore consider it well worth a try for the newer personal forex trader.

Visit the official L.M.T. Forex Formula website for more info.