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hi, Thankfully last weeks turmoil & silliness of the Non Farm Payrolls is behind us and the markets seem to have settled down in to more reliable trends.As I explained last week the NFP friday is often preceeded by side ways trending markets which signify indecison. That is followed by the day itself. The silliness around news time, followed by indecision for the rest of the day.
Hopefully you all took my advice and awarded yourself a day off. If not, you should have realised why I never trade it. In my opinion it is just gambling. You might win a few times but eventually you will get caught. Some of the spikes (take a look at the 170 pip up and down movement on the aud 15 minute chart) were horrendous, but I did warn you. I will post an article, with examples before next months NFP comes rolling round again.
This weeks trades
I started trading properly again late tuesday night. I received lots of LMT daily and 4 hour signals on my 2 platforms (forex meta & alpari uk) but some of you are only receiving a few.
I think I know what may be the problem. I will explain in the LMT update below.
So far this week, of the LMT trades that I have taken I have had 11 wins/no losses and this morning gbp/yen is still going - a couple gave me 1st target profits and took me out at entry on the 2nd lot.
This IS the secret to boosting your win ratio with the LMT.
Overall I am 80%+ success since I started with the lmt system, including 2 losses that were silly mistakes. See the $250 phone call !
The $1.000.000 Challenge WILL start next week
As I mentioned last week, my 15 year old daughter ( I said 14 last week - oops) Charlotte is going to manage the Challenge. We have been trading a micro account for the last few weeks, using mainly LMT trades. We started with gbp 1000./ $1600. The account is currently + 40% gbp 1400+/$2200. When she finishes school for the summer, next week, she will update you with trade results etc.
Surefire Challenge/Traders Secret Library
Its been like waiting for a bus the last few weeks. You wait for ages and then 2 come at once !
I have only recommended 2 forex products in the 5 years I have been trading. Unfortunately they both turned up in the last few weeks. I know I got carried away and banged the drum, but I get so many people asking me for advice & the combination of the LMT, which works almost straight out of the box & the systems and educational material on the surefire challenge extra site (traders secret library) is so great that you really dont need anything else for now.
It will take you months just to go through all the training material on the site.
Anyone who has been not sure whether to join The Sure Fire Challenge make your mind up today ! The price goes up 40% tomorrow, thursday evening EST. Its not a sales gimic: Heres the Link to My Review
The owner Mark McRae has been threatening it all year. I have been a member since february and he has emailed me to say that it definately goes up tomorrow for anyone who joins after that date. Do yourself a favour, if you don't buy anything else this year, you really should try this out.
LMT (low maintenance trading formula)
This is the best semi automated forex trading system i have used in 5 years. If I had this when I started trading i wouldn't have spent the 1st three years running round in circles (like a lot of you are doing right now). And I would be sat on my yacht somewhere !! Feet up. Retired.
I Made 312 pips yesterday from a whole load of signals. I received 25 alerts off 2 platforms. Including 5 off forex meta daily charts and 3 off alpari uk daily charts.
I took 7 and they all won at least 1st target. The more I get to use this the more I love its simplicity.
You can make a serious amount of money with this IF YOU FOLLOW THE RULES.
Lots of you are still breaking every rule in the forex dictionary: trading non recommended pairs, fiddling with the stop loss and targets, entering on wrong candles, getting in too late.
You may just have stumbled upon the holy grail of forex systems and you are going to waste a golden opportunity. The rules of this system are so simple, that if you can't stick to these then you might as well stop trading forex.
Lack of discipline is what kills off most forex traders.
Check Out Why I Love The LMT !
Some of you are having difficulties in not getting anything like the number of signals that i am. i think i have the solution:
My $250 phone call
I bought a pair last week when I should have sold, I was on the phone (i normally turn the phones off when I am trading, but someone skyped me (now turned off too). I wasn't concentrating. I went to put the stop in and the system wouldn't let me. Three minutes $250 down before I realised the mistake. I was NOT a happy bunny !
Have a great week, keep posting questions and answers on the blog,
regards
marc
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