This forex fraud article contains a LMT Forex Formula overview, questionable profitability claims and an objective LMT Forex Formula scam assessment.
LMT Forex Formula Overview
LMT Forex Formula is a manual forex trading system involving custom indicators that you run on MetaTrader 4 to monitor the markets, but which you can execute deals for using any trading platform. The LMT Forex Formula was developed by personal forex trader and mentor Dean Saunders.
Vendor Profitability Claims:
While it was unclear what his initial deposit was, the vendor claims to have had a good run, making $30,997.59 trading his L.M.T. Forex Formula system in between one and three lots on a variety of currency pairs during the period of 1/05/2009 to 2/27/2009.
Also, his results during this very limited time frame showed only two losses and four breakeven trades out of 23 trades taken, for a trade accuracy of 74% winning trades. This is below his claim elsewhere on his vendor site of 82% accuracy.
LMT Forex Formula Scam Assessment
Is a LMT Forex Formula scam going on here? Perhaps, since the percentage of winning trades in the vendor’s own profit example seems to be less than advertized elsewhere on the product’s sales website.
Basically, LMT Forex Formula’s performance was shown by its vendors over a very limited and probably carefully-chosen historical period to show good results that still underperformed Dean Saunders’ claims for his system. As a result, future results may not be as good as the claimed returns. Also, since this is a discretionary, manual trading system, individual results can vary considerably between users.
Usually, people who purchase such trading systems test them by trading them in a demo account during the guaranteed return period. If the results look disappointing, they then return them via Clickbank.
Overall, we do not recommend that traders use the LMT Forex Formula trading system or trust money to trading on its signals or those of any other forex trading signal systems.
Basically, trading in the forex market should not be looked at as a way of getting rich quick. Trading forex successfully and consistently requires that you devise and refine your own personal trading system. Trusting money to others should not be seen as a reliable way to succeed in forex trading or in any other situation in life.