Made my first trade entry using LMT with daily charts on 9th June - still open and about +300 pips :

Instrument EURAUD
Amount 8000
Sold
Open Date 06/09/2009
Open Rate 1.7538
Rate to Close 1.7237
MTM P/L $195.67

I must admit that's one pair that I do not follow. Good luck with your LMT trading.

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Today I added the following position using 4H chart - sort of a "toe-in-the-water" of the shorter time frame.

EURAUD
Sold @ 1.7386
Position size 4000
Current price 1.7306 (+80 pips)

Stop now @ breakeven


The previous EURAUD short position is still open and about +230 pips.

Sitting happily with 2 "free trades"

Will update

Are you trading with this system everytime it triggers a trade or are you being more cautionary like Dean says in only taking the trades around support & resistance and also adhering to the 3 candle patterns?

Well, both my EURAUD positions have been stopped out @ breakeven after a big retracement against the perceived trend.

jonjo - I'm entering trades every time it triggers without those other conditions. However I do have my own method to determine the trend direction, which I would prefer to use if the LMT-defined trend was in the opposite direction (this hasn't happened yet).

Anyway, I now have no LMT-type trades open and am waiting for the next setup. Next time I think I may take partial profits at the initial target price

i have made over 400 pips this week using lmt .

good job to Dean

Congrats! Keep us up-to-date on how your trading goes.

__________________
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http://alansmoneyblog.com