FAQ's
Thank you for visiting the FAQ page, this page is constantly updates as I receive new questions. If you don't find the answer to your question here then please feel free to email me and I will help you out as quickly as I can.
Installation questions
When I install LMT I get the message 'windows cannot find the terminal.exe file' what do I do?
When I Load the template mt4 crashes, what should I do?
The stops and take profits indicated on my chart are too high at over 1000 pips why is this?
The L.M.T indicators are not showing on my charts what should I do?
I am getting a sad face instead of a smiley face what should I do?
The indicator text on my chart is not the correct color and I have difficulty seeing it.
I am not seeing the trend indicator just a 'Label' text.
I can see the trend indicator but not the text underneath.
Can I change the background color and chart properties without it affecting the system?
Trading questions
How do I calculate my stop loss from the figure on the chart?
If the trend is different on the 4H chart to the Daily chart which one do I follow?
Is spread included in the stops and take profits or do I have to add it on afterwards?
Do I need to have mt4 running in order to receive trade setup alerts?
Do I need to open a chart for each currency in order to get signals from it.
What happens when there is an alert? What will it look like?
Does L.M.T work on other time frames apart from the daily and 4 hour?
Does L.M.T work on other markets apart from forex?
I am having difficulty working out how many lots to risk on each trade can you help?
The stops and first targets hasn't changed for a some time is something wrong?
If I get stopped out from a trade should I enter into the same trade again?
Installation questions
When I install LMT I get the message 'windows cannot find the terminal.exe file' what do I do?
When you select your brokers mt4 folder to install the LMT files it will install the files and when its finished attempt to open your MT4 platform.
If you get the message 'windows cannot find the terminal.exe file' it means the installer installed the files but then couldn't find the terminal.exe to open your mt4 platform.
In this case you have either not selected the correct folder for your MT4 platform in which case you need to go back install it again and double check its the correct folder.
or.
You did select the correct folder but the installer simply couldn't find the terminal.exe file to open MT4 after installation. If you think this is the case simply open up your MT4 platform and see if the LMT Template is loaded.
email alerts have to be setup in MT4 with your existing email provider, this can be a little complicated.
Here is a helpful video i found that explains this further.
http://www.youtube.com/watch?v=PLxfGloE6E8
Use ForexMeta as your broker, that is who I use for the LMT Forex Formula. Also you are more likely to have less problem with this broker as I know it works well on their platform.
When I load the template mt4 crashes, what should I do?
You must make sure you have the latest version of mt4, your mt4 should be version 4 build 223 or higher. You can check this by going to 'help' and selecting 'about' on your mt4 platform.
The stops and take profits indicated on my chart are too high at over 1000 pips why is this?
This is usually due to your broker offering an extra decimal place, for example instead of the EURUSD quoting at 1.3669 with an extra decimal place you get 1.36693. This means the indicator will also have an extra decimal place which you will have to account for. If the indicator shows a stop of 1650 then the actual stop is 165 pips.
The L.M.T indicators are not showing on my charts what should I do?
If you are seeing the L.M.T template under your chart templates but when you click on it the chart is missing some indicators first check the markets are open and it is not a weekend or a bank holiday. Then check your charts are live and price is moving. It usually takes a couple of ticks market movement before the details show on the chart.
If you checked all these and you still are missing some indicators be sure you have this button pressed and green not red.
I am getting a sad face instead of a smiley face what should I do?
Click on the sad face and a options box will appear for the Indicator. Under the common tab make sure you have allow live trading ticked, if you don't tick it and then click ok.
Also make sure click on the button on the top of your menu called "Expert Advisers" this should have a green arrow in it like the one below, if this was red this should now change your cross into a smiley face.
The indicator text on my chart is not the correct color and I have difficulty seeing it.
The Indicator text in the top left hand corner of the chart can be changed between two colors depending on if you use a light or dark background on your charts. To change the color simply click on the face in the top right hand corner of your chart then in the options of the indicator change chart_background_black to true if you are using a dark background or to false if you are using a light background.
I have lost the files I downloaded from the members area and I cant find the download link, what should I do?
Simply send me an email to contact@lmt-forex-formula.com with your Clickbank receipt. If you cant find your Clickbank receipt then just give me your full name and approximate date of purchase. Once I have confirmed your purchase I will send you a new download link to the members area.
I am not seeing the trend indicator just a 'Label' text.
First click on the smiley face in the top right hand corner of your chart, a box will appear. Click ok on the box and the indicators will reset.
If you are still having the same problem change the chart to the time frame above the one you are trading. For example if you are currently trading the daily chart change to the weekly chart and wait for the indicators to appear, this may take several seconds.
Once they have appeared change back to the daily time frame and once again wait for them to load. They should now load correctly.
I can see the trend indicator but not the text underneath.
This sometimes happens when using a black background on your charts. Click on the smiley face in the top right hand corner of your chart. In the inputs tab change the chart_background_black to true and click ok. Once the indicator refreshes you should see the text clearly on the chart. If you are using a white chart background you will want the set chart_background_black to false.
Can I change the background color and chart properties without it affecting the system?
Yes. By right clicking on the chart and selecting properties you can customise the look of your charts and it will not affect the performance of the system at all. Once you have your charts looking the way you want simply right click on the chart and select template > save template and name your chart template. This will allow you to load this customised chart to all other charts with a single click by right clicking on the chart and selecting template > load template > your template.
You can use a different broker with mt4 and a different time zone for the daily candle close. This will not affect the system, it evens out over many trades. But I recommend that you use the same broker as me which is ForexMeta.
Trading questions
Yes this is no problem at all.
How do I calculate my stop loss from the figure on the chart?
You simply add or subtract the amount of pips from your entry price.
Here is an example.
Stop = 150
First target = 50
If our entry was a buy signal and we entered at 1.5000 our stop loss would be set at 1.4850 which is 150 pips below our entry and our first target would be 1.5050 which is 50 pips above our entry.
If our entry was a sell signal and we entered at 1.5000 our stop loss would be set at 1.5150 which is 150 pips above our entry and our first target would be a 1.4950 which is 50 pips below our entry.
Yes, just make sure you use a separate chart.
If the trend is different on the 4H chart to the Daily chart which one do I follow?
If you are trading the 4H chart you must only take trades when the trend is in the same direction as the Daily chart. If the 4h trend does not match the Daily trend then dont take the trade.
If you are trading the daily chart there is no need to check any other time frames.
Is spread included in the stops and take profits or do I have to add it on afterwards?
It is included so you don't have to add it on.
Do I need to have mt4 running in order to receive trade setup alerts?
Yes in order to receive trade signals the mt4 charting platform must be running. If you close down the platform and open it after the signal has already occurred then it will not alert you. If you just open the platform prior to the candle close you will get alerts as normal.
Do I need to open a chart for each currency in order to get signals from it.
Yes you do.
What happens when there is an alert? What will it look like?
It will make a noise and a popup will appear with the most recent pair the signal was on. You will also have a vertical line on you chart indicating the last setup, green line for buy setup and a red line for sell setup.
The pop up looks similar to the image below.
Does L.M.T work on other time frames apart from the daily and 4 hour?
From my experience it does not work well on lower time frames.
Does L.M.T work on other markets apart from Forex?
I have never tried the L.M.T Forex Formula on any other markets as Forex provides me with plenty of trades, however I see no reason who it wouldn't work if your MT4 broker allows you to trade other markets such as oil and gold.
I am having difficulty working out how many lots to risk on each trade can you help?
Yes, here is a simple little web site that will work out your exact lot size for a trade, all you have to do is insert a few details of your trade.
The stops and first targets hasn't changed for a some time is something wrong?
No not at all. The stops and targets are calculated depending on the volatility in the market. If you are trading the daily charts this will be recalculated on the close of each daily candle so often the value will not change for some time.
If I get stopped out from a trade should I enter into the same trade again?
No not unless you are a clear signal from the system to enter. if you are stopped out at break even just wait for the next signal.
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