LMT-Forex-Formula (Dean Saunders) Review Visit site Well, I hate to be about the only dissenting voice among all of these glowing 5 star reviews, but I requested a refund on this product. Let me first say that Dean Saunders seems like a nice guy, and in that sense I hate to leave a negative review, but I have to just tell it like it is (at least in my experience). I found this system to provide no real edge, meaning it lost as many (or more) trades as it won, and I dont need a system for that, I can just flip a coin. The cost was 149, and I lost in excess of that amount, but at least I can get the 149 refunded so its not a complete loss. I read the review of the guy talking about making hundreds of pips in his first day. Well good for him but that sure didnt happen with me. I read the manual, and took trades per the rules, but found it often did things like sold into support and bought into resistance. Not good. I traded on the 4 hour charts, and even though those are supposed to be a longer term trades, I found several trades going straight to stop loss in less than 90 minutes. I did have some winners too, but again, it definitely was not better than 5050, so like I said I can just flip a coin for free and get the same result rather than spend money on a system. Maybe I just didnt stick with it long enough, who knows. Although Im sure Dean is trying to provide a good system, I get the feeling that his new life on whatever island he lives on is financed as much by selling these ebooks as it is from trading. And I hate the website. Its filled with all those tired marketing ploys you see on almost every forex website thats selling something. Stuff like: I am not sure how many copies of LMT I can let go at this price, price increasing to 497 soon, If you see the sign SOLD OUT in place of the order button below you are too late. I really wish these guys wouldnt play that game. Anyway, I certainly dont begrudge the folks that like the system and are making money with it you may like it to. Im just sharing honest feedback from my experience, which unfortunately was not what I hoped it would be. Forex Powerband Dominator Review 8211 Dean Saunders Forex Powerband Dominator Review 8211 Dean Saunders To The Best Of Our Knowledge This Product Is No Longer Available Publisher: Clickbank Cost: 129 with a 60 Day money back guarantee Review Date: January 2010 What It Says On The Website Yes, hes back, and You are about to discover a deadly accurate market dominating Forex system. Its a system that has never been shared with anyone and its one that Dean has kept under lock and key for over 7 years simply because its that powerful. Although the system has never been shared with anyone, somehow the word got out and the number of calls and emails from people desperate to learn the Forex Powerband Dominator keeps growing and growing. The reasons, it works with pinpoint accuracy, like clockwork and on any timeframe. The system owes itself to one lucky discovery while experimenting with countless trading theorys. The website then continues to tell you a story about how I found what I believe to be one of the best Forex systems on the planet. We will not re-iterate the story here as we dont think we could put it any better, but it does have a great ending. The results floored me, I mean real knock me off my chair, leave me gasping for breath floored me. The system has delivered 12 winning trades in a row, not just once, huge winning streaks are a regular occurrence and soon they will be for you too. If you can count to 3 Recognise a simple pattern and push a button, you can make money from the Forex Powerband Dominator. As well as a manual, there is a selection of high quality videos of every aspect of the system that take you by the hand through the whole process, from setting up your charts to identifying a setup and cashing in on the trade. So easy in fact a 10 year old could use it to make money. The package comes with: Comprehensive Manual Video Module 1 Platform amp Charting Video Module 2 System Mechanics Part 1 Video Module 3 System Mechanics Part 2 Video Module 4 The System Video Module 5 Position Management Video Module 6 Live Trades Cheat Sheets The reasoning behind the pricing is explained as follows, using this unique system you will literally be in the top 5 of traders worldwide. It continues, Im not going to insult your intelligence like so many other guru marketers and start with a ridiculously high figure and keep putting a line through it as I want to help the little guy like you out. Most people would charge you in the high hundreds or even thousands of dollars for this information and sure Id make a ton of money, but Im already having great success and I want to give something back so the cost is just 129. The system is recommended for the Daily or 4 hour charts. Dean personally uses the 4 hour charts, although the system will work on any timeframe except the 1 minute chart. It has a 70 win rate though you can easily average 80 wins and the average win is much larger than a loss. Any charting package can be used, so no MT4 indicators or templates here. No testimonials this time for Deans product, the reason being, As I said earlier this system is something that I have kept quiet for the last 7 years, only my closest friends have ever seen it. The intention is that testimonials will come from real people that are starting from scratch, trading Forex and changing their lives. The Material The manual is 49 pages long and is, as expected from Dean, well written and comprehensive. The first dozen or so pages cover installation and charting basics so can be skipped by those with previous experience. There then follows a number of chapters on Support amp Resistance, Trend lines, Round Numbers, Key Moving Averages and Candle formations. Mostly well explained material that is both common sense and knowledge to those not new to trading. The system has two set-ups, A amp B. Both are quite similar and are primarily based on Bollinger bands, Stochastics and Price action. And, as mentioned above, Support amp Resistance, Trend lines and Moving averages are also utilised to support the trade identification process. Entries and Stops are clearly defined and Targets are based on Bollinger bands so they are also quite clear. 4 hour and Daily time-frames are recommended for trading this system. Though, it does state that those wishing for more action can drop down to the 1 hour or even 15 minute timeframes. The sections on Trade and Money management again, provide sound advice to those new to trading. Worthy of a mention are the two Cheat sheets, one for Buy set-ups and one for Sell set-ups. These are one pager overviews of the system and all you will really need to reference if trading this system. The System The system is really easy to set-up on any half decent charting package which supports Moving averages, Bollinger bands and the Stochastic indicator. Trade identification is quite mechanical, say 80, as ones interpretation of Support and Resistance, Trend lines and Candle formation come into play. As mentioned above, Entries and Stops are easy to determine with Targets being based largely on Bollinger band location. As many of you are aware, due to timing we cannot trade Daily candles so we went with the other recommended timeframe, 4 hours. No mention of which pairs the system is best suited to so we thought the same ones we traded LMT Forex Formula on, USDCAD, NZDUSD, EURJPY, GBPJPY, AUDJPY, EURCAD, GBPUSD, AUDUSD amp USDJPY, would be appropriate. One of the rare occasions that we didnt actually use a system in real-time, not due to lack of time or confidence, more a lack of willing. We (at Systems For Traders) all agreed that the indicators and basics of the system are technically sound. They are so technically sound in fact that all of us in some shape or form incorporate at least some of the aspects in our own trading already. Back-testing, a quick scan over recent months, varied between us, 3 of us performed the exercise. Largely due to the discretionary aspects of the system, we only had about a 75 cross-over of trades (where we would have taken the same ones). So, this is by no means a 100 mechanical system. However, based on the eye-balling we did across the 9 pairs on the 4 hour time-frame we all agreed that, generally speaking the system could be profitable. The other thing we were all in complete agreement with was that the results neither floored us or left us gasping for breath. Can It Work The system has sound concepts, its well presented and may well be of use and interest to those new to trading. For those with more experience, we would be quite surprised if they were not aware of already incorporate some, if not all, of the concepts, in some shape or form in their current trading. To summarise, a good footing for those new to trading. However, there is nothing new here that cannot be obtained free from the many Forex resources out there. The main difference being that the sound and common concepts have been consolidated and packaged as a complete system, and the jobs a good one to be honest. In the end though, we all reckoned that those new to trading would probably be better off with the 3 Ducks andor The 3 Little Pigs Trading system . As free resources, based largely on the Multiple Time-Frame (MTF) Trading concept, we just think they provide a sounder building block. We had no reason to contact support so cannot comment. PRO8217s Well written and presented material. Good ground for those new to trading wanting a sound base (and complete system) from which to build. CON8217s Its mainly common trading principles consolidated into a saleable product (but it is presented well). Similar material and theories are available elsewhere for free, as are alternative base strategies. Do remember, your comments are important 8211 If you have used or decide to use this system, please contribute to the community by reporting back your findings. Members can post and subscribe to threads like this one And also receive an email every time we post a new reviewLMT Forex Formula Review 8211 Dean Saunders LMT Forex Formula Review 8211 Dean Saunders To The Best Of Our Knowledge This Product Is No Longer Available Publisher: Clickbank Cost: 149 with a 60 Day money back guarantee Review Date: June 2009 What It Says On The Website LMT stands for Low Maintenance Trading. The website offers a 8220proven 82 accurate Forex formula that earns over 10,000 per month with less than 15 minutes work a day8221. There is a live example video on the website illustrating a 6,000 winning trade on a daily chart that took 8220less than 15 minutes at my computer8221. Following the 8220I spend more time making coffee in the morning than I do trading at my computer8221 the system is described as one 8220I devised after years and years of searching for systems to trade the Forex market8221. Dean then goes into a little bit of detail on his background, 8220just 258221, 8220trading on the Foreign Exchange since I was 168221, 8220started with only the birthday money from my Grandmother8221 based on 8220a magazine article about Forex8221. Has 8220made every mistake in the book8221 and 8220blew one account after the other8221, 8220convinced it would change if I just kept making trades8221. There follows an account statement showing a 30,000 profit during January and February 2009, for 8220less than 15 minutes a day8221. Then there is a quite lengthy story of how LMT came into being and it is summarised as 8220the secret is utilizing the convenience of automation but with complete human control8221. The software aspect of the system 8220checks current long term trends8221, 8220calculates an 82 accurate point of entry8221, 8220calculates the exact stop and take profit levels8221, 8220keeps you in the trend as long as possible8221 and 8220allows you trade with less than 15 minutes a day at your charts8221. This plan, 8220with automated indicators and full trader control8221, 8220made me more money than I had ever seen8221. The website continues with, this is the only system 8220proven to make money for everyone who tries it8221 that 8220has been my bread and butter for longer than I can remember8221. Six LMT 8220Beta testers8221 from around the world all provide their own positive feedback before a final list of 8220real reasons you need LMT right now8221 is re-presented. The deliverables are then detailed, a 8220simple language8221 60 page manual broken up into 8220easy steps a seven year old could follow8221. Also included is a Custom Indicator package (for Meta Trader 4) which is 8220100 mechanical8221 and 822082 accurate8221. There are also a range of video tutorials supplied 8220that walk you through everything8221. There is one final section on how much the system costs plus the explanation of the 8 week (no questions asked) money back guarantee. The Material As mentioned on the website we received the manual (which is actually 47 pages), the indicator set and access to the video tutorials. The manual is very well written and very easy to understand. The strategy originally developed for the Daily charts can also be traded on the 4 hour charts. On the Daily charts 10-12 pairs are traded generating 8-10 trades a month with potential profits ranging from 100 8211 2,000 pips. LMT uses Meta Trader 4 (for its custom indicators) and the set-up process is extremely well documented. There is a sensible Money management section (2 of account per trade max), a little on Trade sizing and then a little bit more on the different time-frames. As per the example on the website the Custom indicators show a number of things: Trend direction Stop loss First target An oscillator (which looks a bit like a traditional MACD indicator) These indicators and an additional set of 8220visual checks8221 make entry and trade management pretty much 95 mechanical. There are 3 different exit strategies that can be mixed and used as you wish, all make perfect sense based on ones own attitude to risk. The System Setting up this system (in Meta Trader 4) is as simple as advertised. And, although we didn8217t try it out on a 10 year old, its highly likely that many 10 year olds would be able to set this system up, even those that have never used Meta Trader 4 before (which should be all of them). The indicator is clear, as are Entry, Stop and Target levels. The Stop is usually about double the first Target, which is acceptable. Stop can be anything from around 30 pips to 120 depending on the pair being traded. Exit is dependent on the Exit strategy chosen. Trading the Daily charts was difficult for us (our candle close time is midnight (GMT)) so we chose to trade the 4 Hour time frame. We are quite sure this can be overcome by changing brokerchart time frames or something, we just didn8217t go so far to look into it. Money management, as mentioned above is sound at 2. Can It Work Not a system that can be back-tested as certain aspects of the indicators work in real time. But, we were able to run it in real-time for a number of weeks as it really is a system that requires little time and effort, even on the 4 hour time frame we chose. Once set up, it is a case of checking every 4 hours for an alert on the Meta Trader 4 platform. A series of visual checks (and some common sense ones too) then make the whole trading process almost 100 mechanical. Entries are clear, as are Stop and (First) Target levels. It8217s called first target because, as mentioned above there are a number of different (also sensible) exit strategies one can apply. We chose to apply the Aggressive strategy, this is the one that basically takes as best advantage as possible of the bigger moves. It involves, initially moving the Stop level to break-even once the First target is hit. One aspect we did have to overcome was what to do with overnight trades but we came up with our own half way house strategy that we were happy with. Over about a 3 week period we entered 10 trades on the 4 hour time frame across 10 currency pairs. Two trades lost, hit Stop loss before hitting Target 1, 3 trades were break even and 5 were winning trades. The most profitable winning trade was over 400 pips and the biggest loser was 85 pips. So, we ended up, not quite with the 82 accuracy but for sure, we made money. In our limited exposure to this system, it worked and we liked it. It8217s a relaxed way of trading and management takes little time or effort. We have added it to our Systems We Trade list and we will continue to trade it going forward. We will of course provide updates along the way. We never contacted support so cannot comment. PRO8217s Relaxed style of trading. 95 mechanical. CON8217s On the 4 Hour time-frame, the bit when you are asleep (what to do with open trades) 8211 but this can be overcome as we did. On the Daily time-frame (in the UK), candle closes at midnight GMT, but, we are sure this can be overcome somehow. Do remember, your comments are important 8211 If you have used or decide to use this system, please contribute to the community by reporting back your findings. Members can post and subscribe to threads like this one And also receive an email every time we post a new review
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