A Review of Dean Sanders’ LMT Forex Formula

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The originator of the 10 Minute Forex Wealth Builder system, Dean Saunders, has created an even more advanced version of his initially acclaimed forex strategy system. This new system is known as the LMT Forex Formula or the “Low Maintenance Trading Forex Formula.” The “low maintenance” in the title references the fact that the trader doesn’t need to stand over his computer all day long monitoring and analyzing the market shifts in order to find a good trading pair of currencies on which to open a trade.

Whether you’re a beginner or a forex trading veteran, the LMT Forex Formula software system should help you to condense your trading day into fifteen minutes during which you will check your charts and plot your course of action. Since this system is not a robot driven trading system, it mean that you do not need to leave your computer on all day or have a hosting service. All your trades will be manually accomplished, giving you complete control over which trades to make and which to forgo.

Dean’s new forex strategy suggests ten currency pairs to trade, as it trades on the daily charts. You can trade the system on shorter time frames if you wish, however Dean has calibrated this system to be able to draw down the maximum profit out of a trading position, which means that his trades usually last longer than the four or five hours of most day trading systems. He’s looking for the big wave in the trend, and his system tends to target those trades which hold the most promise for huge gains.

If you are looking for a drawback to this system, one drawback might be that it is suggested that for maximum effectiveness that you be available just after the daily bar closes each day in order to check your daily charts. Most brokers close the daily bar at midnight GMT, which is late afternoon or early evening for those in the U.S. and Canada (5PM Pacific to 8PM Eastern). While this may not always be convenient, it is the best suggested time to monitor your charts. It is best if you can check the charts within the first hour after the daily bar closes; but if you were only able to do so two hours or so after the closing, the hit you take in the potential for profit may be small enough (20-30 pips) for you to sustain, especially if the trade produces 300 to 400 pips of profit.

Dean’s forex trading system includes: a 47 page manual which lays out the trading system very well; a video explaining the steps to take when you’re getting setup; four trading indicators that you will need to download for the software to work; and four video tutorials that deal with “Setting up a demo account” (5 min.), “Installing indicators” (6 min.), “Introduction to chart indicators” (5 min.), and “Explanation of chart setups” (13 min.). So, in thirty minutes you can be ready to demo this system in real time to see how well it works. If you should need any assistance, Dean and his staff are available by email to answer any questions you may have.

It should be reemphasized that this system is designed to earn hundreds of pips per trade. This means that you could be in your trades for days — or even weeks — at a time. Which also means that it may take you a week or two to evaluate the system in demo mode and get used to the way it works. So, be patient and watch for the action indicator points when performing your due diligence on this system. LMT Forex Formula uses both software and the human element in recommending trades: the first to find the trades and the second, the human element, in that it has you look at four trading rules that Dean has devised to make sure the recommendation is a solid trade.

And remember, you only have to check your trade once a day for about 10-15 minutes to close out positions, set stops, or take profits. If you like the thought of making some big profits from just a 5-12 trades a month, then you will appreciate this system and the time and effort it saves you.

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Source by Thomas Eliot
#Review #Dean #Sanders #LMT #Forex #Formula

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