Name: Ludwigia ovalis
This is a great plant, but seems to be a slower growing version of the larger thin leafed version. I have both in my 1100 liter tank. It's a subtle change when next to a bunch of the same plant with different leaf shape, but same color.
I put this in my tank, just being told that it was red ludwigia. When I put it in I was not using any CO2 injection. All of the pretty bright leaves shown in the picture fell off and the plant regrew smaller, less red leaves. It was still a very nice looking plant, so I kept it and it continued to grow. I started injecting CO2 and the thing took off. All stalks were competing for light, they eventually reached the surface of the water and grew sideways. Pruning is easy, just chop off the bottom and replant. A great plant that never quits. I highly recommend it, although I'm not sure how it will do under low light. I have about 2.5 WPG.
I bought this a few days ago and all signs so far point to this being a very hardy plant that will do well. Usually within a few days I can tell that a plant's not going to do well in my tank. I specifically asked the store attendant for a robust plant. The leaves feel thick and tough for their size - usually a sign of a robust plant. I like the way the red colors of some plants bring together other reddish colors, such as that of my shale. I found another common red plant, Alternanthera reineckii, very hard to keep from looking ragged in my tank, so I swapped it for this much prettier, robust plant. Even though the picture on my little plastic information card looks like the plant I have, they had it labeled as Ludwigia mullertii, but I'm sure that what I actually have is this Ludwigia ovalis. It is also said to do well in a range of medium lighting to bright lighting. I have about 0.35 Watts per liter, and it's not complaining.
This is surprisingly a tough plant that can thrive in a number of different light setups. I have some in my 80 L and 280 L tanks. As long as you give them sufficient space for light and keep it above 0.7 W/L you can get some really nice red coloring in the leaves the lower the wattage the less red I seem to get. In my 280 L setup I have it under 0.4 W/L with a good growth rate and I end up splitting the plant up every 2-3 weeks. One nice thing about the plant is that CO2 is not necessary at all. So overall it's a very appealing and easy plant to keep.
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