LMT Forex Trading System Journal
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This topic contains 1 reply, has 1 voice, and was last updated by ReviewTeam 5 years, 9 months ago.
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May 16, 2013 at 5:26 pm #1795
LMT Forex Trading System Journal
To The Best Of Our Knowledge This Product Is No Longer Available
About This Journal
Systems For Traders had to be rebuilt in 2013
This system was on our Systems We Use list from Jun-2009 – Dec-2009
This is a reconstruction of our journal including
Key posts and comments from the original forumReviewTeam - www.systemsfortraders.com
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Click HERE to register for FREEMay 16, 2013 at 5:47 pm #1800ReviewTeam
03-Jul-2009
June 2009 Results
In June we had 13 trades and made a net profit of +41 points.
Not great but it took little effort so we will continue into July.
ReviewTeam
10-Jul-2009
We didn’t trade this system for the last week or so due to holidays, other commitments, etc.
Secondly, after reviewing June’s results we realised that most trades were break-even, meaning the Initial target was hit, Stop was moved to Break-even and then taken out. This month we will trade 2 lots and take the 1st lot off when the Initial target is hit, move the Stop to Break-even for the 2nd lot and let the it run as usual. This way we hope to come out with a little more profit as more often than not, the Initial target is hit.
ReviewTeam
06-Aug-2009
July 2009 Results
In July we had 6 trades and made a net loss of -91 points thus giving back all of June’s profits.
We will continue through August and report all trades, as usual.
ReviewTeam
31-Aug-2009
August 2009 Results
In August we had 8 trades and made a net profit of +61 points.
Not great but it took little effort, we are now back in the Black and will continue into September.
ReviewTeam
01-Oct-2009
September 2009 Results
A rather fruitless September – We had 11 trades and made a net loss of -6 pips.
SUMMARY
June – 13 trades = +41 pips
July – 6 trades = -91 pips
August – 8 trades = +61 pips
September – 11 trades = -6 pipsIt is becoming clear (after 4 months) that if one doesn’t catch just one great run each month, 1 loss sets the account back somewhat. However, as we are not losing money (net -4 pips), the system takes little time & effort and we actually like trading it, we will continue with this system for now.
As usual we will report all trades in October.
ReviewTeam
30-Oct-2009
October 2009 Results
A rather boring but profitable October, see previous post for reason. 3 trades, all (small) winners and a (small) net profit of +38 pips.
SUMMARY
June – 13 trades = +41 pips
July – 6 trades = -91 pips
August – 8 trades = +61 pips
September – 11 trades = -6 pips
October – 3 trades = +38 pipsAgain, not only was it a quiet month but we had none of the type of trades that really make the results matter for this system, a runner to 2nd target. The system is still taking up little time & effort, we still like trading it, so we will continue with it for now. Although we have to admit to being a little frustrated with the “standing still” performance at present.
As usual we will report all trades in November and December.
ReviewTeam
05-Dec-2009
November 2009 Results
LMT continues to frustrate slightly. It’s now back in the Red again for the second time and also means that after 6 months of trading we are showing a net loss of 125 pips. With an average Stop loss of 60 pips this means we are down around 4% on our account in 6 months of trading.
SUMMARY
June – 13 trades = +41 pips
July – 6 trades = -91 pips
August – 8 trades = +61 pips
September – 11 trades = -6 pips
October – 3 trades = +38 pips
November – 5 trades = -168As mentioned above, LMT is continuing to frustrate slightly and has been, it seems, since version 2.0 of the indicator was released. Again, we had none of the type of trades that really make the results matter for this system, a runner to 2nd target. The system is still taking up little time & effort, we like trading it, so we will continue with it through December. However, we are seriously considering whether to continue with this system in 2010.
ReviewTeam
22-Dec-2009
December 2009 Results
Just one trade to report for LMT in December, a winner for +30 PIPs.
A vast improvement on the previous month where we suffered a rather large loss. Again, though trades are few and far between even considering it is December.
We are still showing a new loss for the year (after 7 months trading) of around -100 pips. With an average Stop loss of 60 pips this means we are down around 3% on our account for the period.
SUMMARY
June – 13 trades = + 41 pips
July – 6 trades = – 91 pips
August – 8 trades = + 61 pips
September – 11 trades = – 6 pips
October – 3 trades = + 38 pips
November – 5 trades = – 168 pips
December – 1 trade1 = + 30 pipsReviewTeam
31-Dec-2009
We have become more frustrated with this system in the last few months. We were not able to trade the recommended Daily timeframe (as we are sleeping when the Daily candle closes (decision time)) but we did trade the alternate 4 hour time-frame for a period of 7 months. We liked the relaxed approach to this system and also, in the beginning, the returns. A few minutes every 4 hours, place a trade and walk away, or, just walk away (if there are no trades).
Although not spectacular, in the beginning, the returns were respectable for the effort we were putting in. However, in Q4 2009 (coinciding with a new release of the indicators) the system started to disappoint, not only opportunity (frequency) wise but also performance wise. As mentioned, we liked trading this system, it really was “Low Maintenance Trading (LMT)” but, after reviewing our position at the end of 2009 we have decided that we would not continue with it into 2010 and will remove it from our Systems We Use list.
ReviewTeam - www.systemsfortraders.com
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