Comment by jeeceebees

LSTM stands for Long Short Term Memory. It's a recurrent network that learns what and how long things should be kept in its internal state buffer. It doesn't have a fixed state size because it's just learning a nonlinear function that takes an input and a state to an output and a new state. Obviously it can't model all possible, infinite length recurrences, but it can definitely do a pretty good job of approximating long term recurrence relations in complex signals.