What Training courses you have please give me your review | Trading Reviews and Vendors

futures.io - futures trading strategies, market news, trading charts and platforms

Trading Reviews and Vendors

Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons


What Training courses you have please give me your review

  #38 (permalink)

San Francisco Bay Area
Trading Experience: Intermediate
Platform: NT,TOS,IB
Favorite Futures: ES,CL,TF
Posts: 278 since Jun 2010
Thanks: 154 given, 269 received

Sasha View Post
2. There are fake guru's and a lot of them who are exploiting "strong emphasis on psychology and money management coupled with a strong de-empahsis of the importance of methodology" demand. Not to insult anyones feelings, but I can name a few that were highly regarded in this thread. To illustrate I'll mention only one such fake guru - L2ST Kam: he would not offer you an easy road to riches but an easy road to learning and conquering the psychological aspects of the trade for example. I couldn't complete his expensive 3 day course, had to quit after 3 hours, exhausted from his constant bragging and thousands of "OK's". Like Van Tharp himself Kam is a proud "NLP (and all other new wave discipline's) certified practitioner" and will try to hypnotize you and cure all of your problems in a very funny and naive sounding way. There are many others as well that will take your money promising what they have no clue how to do.

P.S.fiki mentioned a truly good teacher that is not absolutely free anymore, but he is still good though.
P.P.S. Where it come to trading methodology, I will concur on MarketDelta free video's and pdf's. These a truly good. The psychological aspects of the business are best covered by Brett N. Steenbarger in my opinion. He is a no BS professional and doesn't do voodoo magic. If you'd like to turn to hypnosis still, do not expect to fall in trance after listening to Van Tharp L2ST etc. It will save you time and money to use a professional here as well, thou on the surface it seems more expensive. But at least you'll get what you are looking for.

I am spending time in Kam's room for the past week. Currently they only do the US AM session, no live Euro session. During the week, they primarily traded ES though he also talked about his DAX trades he took in the Europe session.

In the beginning of the session he talks about the Market Profile and where he feels the market is likely to do business. He then comments on the market price action as he sees it on Market Delta and recommends entry points depending on the price action. While observing the price action, he comments on what he says, and how to manage the trades as they unfold. I find his technical reading of the market quite helpful.

I personally like the Market and Volume Profile based approaches, which I was introduced to via FuturesTrader71. The Discovery Trading Room videos hosted at MarketDelta are also very helpful. However, neither FT71 or the Discovery guys explain the actual setups live for you. That is where the L2ST live webinar based approach is really useful. I have seen a lot of people talking about trading the order flow/price action but very few people describing what exactly they are looking for, and how to validate their hypothesis.

I personally felt, that Kam captures the emotions and fears of what a trader is likely to feel very well. He specifically instructs people on what different emotions you are likely to go through prior to entering the trade, the first few minutes when you have risk on, after reaching your initial profit target and then with the runners. Each phase of the trade requires a different attitude and he continuously adapts his commentary as the trade progresses.

Though I am a big fan of Dr. Brett, I find Kam's demonstration of those ideas live very helpful. Kam understands both the technical aspects of trading and the psychological aspects of trading, and combines both of them live, in the heat of the market. You are unlikely to get the same experience with an outside psychologist.

Perhaps if you are an already profitable trader working in a professional environment, and want to take your game to the next level, an expert psychologist might help. However for most individual traders working in isolation, those expert options are not easily accessible or affordable.

On a technical level, I feel that his style works best for ES/DAX/YM type of products but not that well on CL. I think I can use elements of what he teaches in CL too, but not that well as ES.

On a psychological level, I can relate to many of the issues and problems he is trying to address. Perhaps you already have a very strong trader psychology and do not need help there.

Like cunparis, I also feel that spending at least a month or two in his trading room is going to be truly worth the money spent. He has also opened a blog www.inthetradingzone.com which has tons of free videos etc, which are definitely worth checking out.


On a different note, some other people have questioned why these vendor are selling their services if they are very good traders themselves. Here are some comments based on my personal interaction with the vendors.

-> One person runs an active trading room, also markets a variety of technical indicators and products. He has a fairly successful business selling those products. In his own words, he trades MUCH better, knowing that he DOES not have to make a living from his trading profits but can rely on his secure revenue stream of products.

-> The trading room is also a marketing mechanism for up-selling. A low-cost trading room helps them sell higher value add products. The person I mentioned above has a variety of different products and a lot of people are very happy subscribing to them and profiting from trading those.

->For many traders, being able to communicate and share their thoughts is like a journaling process in itself. It helps enforce discipline and sticking to a trading plan better. They might be gurus, but they are still human and experience the same ups and downs in life as any one else.

Visit my futures io Trade Journal
The following 3 users say Thank You to aviat72 for this post: