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What Training courses you have please give me your review

  #40 (permalink)

San Francisco Bay Area
Trading Experience: Intermediate
Platform: NT,TOS,IB
Favorite Futures: ES,CL,TF
Posts: 278 since Jun 2010
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Sasha View Post
Hey, I've understood that we are sort of comrades here so felt a duty to warn you about another little thief out to get us. It is up to you to listen to my warning or ignore it. I am sure that you'll come to the same conclusion at the end thou since all that I heard from the poor fellow was pretentious mumbling and million times repeated self-compliments -- the guy is not shy at all.
But again if it works for you -- great! The only suggestion is: before advertising here another NLP black belt professional, why don't you show us your results first? Can you post your profits for us to see?

(1) In the week or two I have spent in the room, the guy has been nailing it. Part of the reason is that we have been a range bound market where market profile based responsive actions make great trades. He did recognize the trend day breakout which occurred after the BOJ decision (Oct 5) and warned people not to fade the move.

Here are some videos which summarizes the day's action for the past few weeks. Judge for yourself. You may have to register at the blog to view them.
The List of Videos: L2ST - www.inthetradingzone.com
October 5 The Trend Day Video: L2ST - www.inthetradingzone.com
October 4 Summary: L2ST - www.inthetradingzone.com
September 28 Summary: L2ST - www.inthetradingzone.com

(2) If you read Dr. Brett's Daily Trading Coach book, the first few chapters themselves focus on your on psyche and what is needed to bring about the change. Those changes are not easy to make. They require time and effort.

At least to me, having a plan which makes sense, and then sticking to it, is perhaps the most important part of being a successful trader. The money eventually follows, as long as you have done your home-work. The biggest challenge of course is sticking to the plan and that requires a lot of work on your own self-being.

In the words of the active trading-room guy I referred to in the previous post "..Trading is about confidence ...". If you do not have confidence in your system, and your ability to execute on your system it becomes a losing game.

I swear that would be very impressive, to the point that most of us, right after thanking, you will be joining L2ST room next day. Including myself.
How about it? Take another week or 2 trading with that guru and show us what you have achieved.

(3) I think there lies the problem. You are looking for the holy grail and believe that you can train for two weeks and nail it. The process of becoming a consistently profitable trader requires a lot of time/effort. Above all it requires work on yourself.

On a technical basis, Kam's approach is fairly straightforward. He first marks the zones where responsive sellers/buyers are likely to appear and then looks at order flow for confirmation of that hypothesis. There is no magic in that and it a fairly well understood system.

However, making money not only requires a good technical understanding of the system, but the ability to adapt to what the market is telling you. That is where the psychological part comes in. Are you willing to cut your losses when the order flow is showing more initiative action? Are you willing to hold on to your runners and maximizing your profits?

FWIW, in the L2ST mentor-ship program, Kam strongly recommends that new traders do NOT trade live for AT LEAST six months. He first wants you to have confidence in the technical system you are trading and master its nuances, and then have confidence in your psychological ability to execute that system.

I personally agree with him, even though I am not a part of the program and do not plan to not trading for the next 6 months.

(4) It would really be helpful if you can specify what exactly you disliked about the L2ST folks. Perhaps they themselves have grown as educators and are doing a better job communicating now than they did a few months ago when you joined them.

I do not know how long you have been trading and how many ups and downs you have been through. I personally have had a front row experience (as a front desk quant) at a group which first made 10 digits USD profits, and then lost 11 digits USD. It was OPM but still it was real money. I have seen the Lords of the Universe lose it psychologically, up close and personal. Those trades happened over a period of many months, but the psychological component was not dramatically different from what a day-trader experiences. That is perhaps why I can relate to many things which Kam talks about.

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