True or hype?

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True or hype?

Postby Rom » Tue Oct 05, 2010 7:29 pm

Dean Saunders in an introducion to L-M-T

As I mentioned earlier it is my firm belief that using the L.M.T methods anyone can learn to trade forex profitably, recently I decided to put my theory to the test. I decided to create a small group of struggling forex traders and set about teaching them exactly how I trade the forex markets. I showed them every aspect of my forex trading system and went into great detail on every subject covered in this report and much more. After just 1 month the results were astounding every single student in the group was trading successfully. 2 month later some students were at a point where they would be confident in trading full time for a living.


I must have read this half a year ago but did not pay notice. More (negative) experiences have taught me something that puts his claim in a new light. I no longer consider Dean Saunders being a sleak marketerer. I believe he is telling the truth about his easy to learn system.

Anyone who think otherwise?

regards kjell
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Re: True or hype?

Postby spotfx » Wed Oct 06, 2010 1:53 am

It will be difficult to judge or assess whether his material or claims are completely genuine until you've fully investigated his course work rom.
It mentions in the sales pitch that he only has 300 copies of the course available & when they all get snapped up the site would be closed.

If you saw this advert over 6 months ago, & it's as good as he claims, then I'm quite surprised the site & material is still available considering the aggressive marketing tactics these types of products usually attract.

Unless you know someone personally who has or is trading this system, then I guess the only way you're really going to know if the material is right for you personally is to take the plunge & part with your $$'s.
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Re: True or hype?

Postby Rom » Wed Oct 06, 2010 4:29 pm

I found a forward test of LMT here
http://0.tqn.com/d/forextrading/1/0/Y/-/-/-/TradingResults.jpg
http://forextrading.about.com/od/forexsoftware/fr/LMT_Forex_Test.htm

The result is presented as "2.22%" per month by the reviewer.

Here is a rude summation of his trades. Amazing result.

Code: Select all
                             DATA
                     StartDate: 20090604
                       EndDate: 20090629
                  ProfitTrades: 10
                    LossTrades: 4
                 SumProfitPips: 1223
                   SumLossPips: 440

                      LMT
              Trades per month: 17
            Multiple contracts: False
                Average profit: 122,30 pips
                  Average loss: 110,00 pips
             Profitable trades: 71,43%
              Profit per trade: 55,93 pips/trade
                  Profitfactor: 2,78

              Sustainable risk: 4,62%
              Return per month: 31,84%
       Average annual drawdown: -7,28%

regards kjell
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Re: True or hype?

Postby Rom » Wed Oct 06, 2010 5:11 pm

If you saw this advert over 6 months ago, & it's as good as he claims, then I'm quite surprised the site & material is still available considering the aggressive marketing tactics these types of products usually attract.

Yes, the salesletter is disgusting. This is not the way Dean Saunders writes. He hired a copywriter and this is what he got. Probably difficult to get the contract voided. The copywriters want a share of sales too.
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Re: True or hype?

Postby Rom » Fri Oct 08, 2010 3:43 pm

Graig Harris ($5000 price tag) claims 3 hours screen time each day is necessary to learn forex trading (he claims 40 pips per day with his daytrading system - The data shown above demonstrates (775/17) pips with Dean Saunders' system, after one month of learning and practically no screen time).

The biggest myth in Forex is that daytrading is more profitable than end-of-day-trading.
The myth has been communicated a mllion times - 95% of the traders believe the myth.

Example of this myth

http://www.trading-strategies.info/testimonials
About the FurQuad strategy
Furquad suits my personality and lifestyle, I know that I could get more out of it by scalping but that is not for me. By sticking to the plan has made me some good profits and reduced the losses when they happen. And guess what I am now looking at four pairs, that's progress for you! Thank You again Gail C


The myth is communicated at a sublimal level, like of course 2+2=4. Phil Newton himself believe in it ... every day. His students think the same.

Dean Saunders mindblowing claim is: The average trader will lose money when trading more.
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Re: True or hype?

Postby Rom » Sat Oct 09, 2010 9:16 am

Rom
 
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Re: True or hype?

Postby Rom » Sat Oct 09, 2010 9:30 am

When it comes to money you cannot trust most of those who "wants to help"

Here is the lastest "informative" email from FOREX.com

Ready to trade forex, but not sure how to get started? Join us for a free 'Getting Started in Forex' webinar and gain an understanding of how to place orders, interpret quotes and manage your positions.

On top of this, at this webinar you'll learn:
Key differences between forex and other markets
The optimal times to trade certain currencies
• How to read charts and perform basic technical analysis

There is also a live Q&A session at the end of the webinar, where you can pick the brain of our forex experts. Register now.

Start trading risk-free

Your £50,000 practice account is active. Start trading today to get a feel for the Forex market. You will be trading with real market data, making it the perfect way to try out the FOREX.com trading platform, test your trading strategy, or to just see if forex trading is right for you. Login to your account.


I have not joined any of these "webinars" yet (the new trend in salesletters). Sure the webinars will tell us that intraday trading has "more potensial" for those who has the "right stuff" for fast pace "profitmaking", and in now way one trade a week (minimal commisions to pay) is better than one+ trade a day.
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Re: True or hype?

Postby david100 » Mon Jul 20, 2015 8:34 pm

Yes trading is a matter of patience and if we loose patience then it will be very difficult to maintain trade. so always try to control your emotions and be pationed during trade trade.
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Re: True or hype?

Postby eko_ddie » Tue Sep 01, 2015 7:43 am

david100 wrote:Yes trading is a matter of patience and if we loose patience then it will be very difficult to maintain trade. so always try to control your emotions and be pationed during trade trade.


Totally right sir, forex is risky and could bring your heart down and blow up.
So, don't use primary money for trade.
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Re: True or hype?

Postby prapforex » Tue Sep 15, 2015 10:43 am

Using primary money for trade will make your daily life more worsen. Forex is never being our friends, never.
But we must improve and improve our skill in any situation market.
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