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What Training courses you have please give me your review

  #49 (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

Shasha:


(1) I have not spent any significant time on the NLP/Meditation stuff which Kam markets. I will keep your thoughts in mind when I do.

(2) OTOH, almost all good traders I know, swear on coming into the zone; almost all including Dr. Brett recommend some form of meditation to come into focus.

FuturesTrader71 one of the most popular free coaches out there is a big proponent of Transcendental Meditation. He swears by it, and has explicitly recommended it multiple times. And you bet there is a huge amount of controversy related to TM.

Within my circle of friends and family, I know multiple people who have benefited significantly from spending at least a few minutes a day meditating. I for one reason have never have had the discipline to do it in a structured manner, but whenever I have attempted, it did make me feel better.


(3) It seems your beef with L2ST is focussed on there NLP/Meditation/Hypnosis stuff which (I agree) can be dangerous to the uninitiated.

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Stepping back, I would view any coach along the following metrics:

1. Does have a solid technical system to trade in place? Are the setups easy to understand? Are they based on market generated information or hunches, predictions etc?

2. Does he provide a psychological framework to help you become comfortable with the risk and reward associated with trades; e.g. when to focus on risk, when to focus on maximizing profits, what technical information to look for to help you keep you in a trade, or force you to accept the losses and move on to the next setup?


3. Does he provide help in guidance to a person just starting out or an experienced trader facing discipline/focus issues, by providing an overall structure to open, run and expand a trading business? Does he realize and understand that there are multiple dimensions to running a trading business and addresses each of them?


I have found L2ST to address all the three issues quite well. Further their synthesis of all the aspects real-time as you trade live is quite unique.

cunparis said that he talks a lot; I agree. But I am in his room to hear him talk; not see the same chart as every one else is seeing. If I need to pay attention to a trade; I can mute it. But I would rather have him talking and having the choice to decide when to listen and when not to, instead of hoping that he will speak when I am ready to listen.
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I noticed that you disagree with Dr. Brett about how negative emotions, can be used to drive change. I personally tend to agree with him, that fear is the most primal of all human instincts and CAN be best in forcing you to initiate and SUSTAIN the act of driving change.

When it comes to psychology each person is different, and will respond differently. I think you are very fortunate to have found out what works for you and what does not. That is great.

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With regards to L2ST, I think that your view is strong influenced by his talk about NLP etc. I will keep that in mind.

During my two weeks with them, they have not talked at all about scalping etc (which you found of no value at all), but have been focussed on market profile and order flow based trading on ES/DAX/YM. So far he has been right on and hitting almost 1.0.

Today he expected a range day but has warned about a possible extension back in the value area from Friday or an upward extension, especially later in the day. He warned that the rewards are going to be low with expected profits limited to 3-4 points. He also said that the foot-prints are not going to be very useful since by the time they confirm, you have already lost 20-30% of the expected move. People were able to milk the 1164-1160 range twice. Before signing off he said that after 2-3 tests, there is a much greater chance of the range breaking so be careful and focus on the order flow. He also said that on days like today markets like CL/YM/GC are perhaps better because the ranges are bigger. He talked about the correlation between GC/CL which is emerging...

I do not claim to be an MP expert but I have had very little to fault him on his technical reading of the market. He is posting his daily summary quite often on Youtube so you can get a chance to view it.


Last edited by aviat72; October 11th, 2010 at 12:17 PM.
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