3 Days Intensive Online Traders Coaching Programme Day 3
DISCLAIMER L2ST does not have any knowledge of the trading needs or objectives of individual viewers of this presentation. This presentation represents suggestions, training and information for viewers to use when evaluating and making trading decisions in light of their own individual trading goals and does not constitute specific advice. L2ST does not take into account the trading Objectives, financial situation and particular needs of any particular person, and before making an trading decision on the basis of an L2ST Method of Trading, the prospective trader needs to consider, with or without the assistance of an Advisor, whether the advice is appropriate in light of their own particular trading needs, objectives and financial circumstances. Trading the Futures Markets involves Risk Money can be both LOST and Made
Day 3 - AGENDA The L2ST Philosophy The L2ST EDGE L2ST Game Plan STEP 4: Confirming Trade Setups with Real-Time Order Flow: Understanding Pre\Post Trade Supply & Demand Reading Pre-Trade Supply and Demand - Reading & Understanding di the Order Book - Using the Book to Confirm\Ignore Trades Reading Post Trade Supply and Demand - - Time & Sales - Market Delta Footprints Revolution - Reading the MD Footprint info
Day 3 - AGENDA The Different Footprint styles -Bid\Ask -Delta - Footprint Profile - Trading\Executing off the Footprint - Footprint\Order Flow Patterns & Setups L2ST Game Plan STEP 5: The Importance of Outstanding t Trade Management What to do after entry? The Most Effective ways to Minimise Risk The Most Effective ways to Maximise Profits The L2ST Build Process - Building a Solid Foundation and Structure - Furnishing your Understanding - Letting it Flow through Application - Improving through Experience - Mastery
The L2ST Philosophy A Discretionary Approach to Day Trading. Unique and different to the usual tactical rule based system traders out there that you will commonly find. Our client base is limited to those select few traders who want to understand how the markets function, and understand why the market moves the way they do each and every day. We teach you how to understand the Market Participants expected behaviours, so that you can be prepared for the next move BEFORE it happens! We appreciate dealing with traders that accept that learning to trade is a skill and a process that develops over time, and that success is the result of an accumulation of trading EXPERIENCE.
The L2ST EDGE How do you get an EDGE in the trading game? 1.User Better Information 2.Then UNDERSTAND it better than your competition! We use real-time order flow information as presented by the MarketDelta software in what we know as Footprints. We also read the DOM and Time & Sales.
The L2ST EDGE Order Flow Tools help us identify: When Buying or Selling in a directional move is being cut off. When Buyers have got too long OR Seller have got too short. When New Buying and Selling interest is re- entering the market, and at which prices. How Strong\Aggressive the Buying or Selling conviction is at any given time. We can see where stops should be triggered and when they get triggered!
The L2ST Psychological EDGE The Key is to gain Mastery through Unconscious Competence To Gain Unconscious Competence you need to learn to Trust the Power of your Unconscious\Sub- Conscious Mind. Tap into this power by learning to LET GO of thoughts & emotions that may cloud the screen of the Unconscious Mind. The Mind needs to be STILL, SILENT & CLEAN for the POWER & FLOW of Infinite Intelligence to come through.
Tap into the power of Unconscious Trading The Unconscious dimension of YOU flows effortlessly and without friction! It arises when you can step into the Realm of Uncertainty t BEYOND what you know and commit to the fullest expression of your HIDDEN POTENTIAL by acknowledging your own vulnerability and being willing to surrender to the UNKNOWN so that the EXTRAORDINARY MAY HAPPEN!
Wake Up Call! Each and every day in in the markets should be treated as if you are going g in for Battle against some of toughest competition you may ever face! You cannot just turn up ready for battle with a chart, a few indicators and a traffic light system. You HAVE To UNDERSTAND your competition and their likely next move VERY WELL. Learning to trade a system and not understanding WHY it works when it does and failing to understand d why it fails when it does, can be financial suicide! You have to learn to get behind the mindset of your competition, understand what their likely next move is to be!
L2ST Game Plan STEP 4 Confirming Trades For Execution
STEP 2: THE IMPORTANCE OF CONFIRMING TRADES WITH ORDER FLOW Once you have a good UNDERSTANDING of structure and the Setups you will trade, the next step is to master Execution and Trade Management This is our Focus Today. A lot of traders lack the understanding of the importance of TIMING and EXECUTION skills when trading. By the time they realise its usually too late! Better Trade Execution is gained by focusing on the reading of ORDER FLOW. A few good tools are available that enable you to do this successfully, yet you have to KNOW how to use them, otherwise they can work against you!
THE IMPORTANCE OF CONFIRMING TRADES WITH ORDER FLOW "Too many traders are looking for setups, when in fact they're the ones being set up!" Every Trade Setup is only THAT a Trade SETUP! Setups alone are not reasons for entry, some trade setups are best left alone, and some must be taken without hesitation and precise timing! Since making Trade Execution and Trade Management my FOCUS my profits have increased MASSIVELY! And more importantly Drawdown's become a thing of the past! Reading the Order Flow behind a trade setups gives you one great thing EVIDENCE! When you have EVIDENCE that there is CONVICTION behind the Opportunity that you have just defined you also GAIN CONFIDENCE. Confidence is a Positive State!
RESTING PRE-TRADE SUPPLY & DEMAND Pre-Trade Supply - The volume of Resting Offers that are available at each price at the current offer and above (Not yet filled) These exist either to Supply to the current buyers willing to Lift the Offer or Cut off their demand. Pre-Trade Demand - The volume of Resting Bids that are available at each price at the current Bid and below (Not yet filled) These exist as Demand to the current sellers willing to Hit the Bid or Cut off their Supply.
RESTING PRE-TRADE SUPPLY & DEMAND Post-Trade Supply The volume of contracts actually sold on the current Bid. In order to fulfil resting demand or behaviourally in order to enforce or initiate a Downward move in price. Post-Trade Demand The volume of contracts actually bought on the current offer. In order to fulfil resting offers or behaviourally in order to enforce or initiate a Upward move in price.
WHO WINS THE TICK BY TICK BATTLE? REMEMBER: Trading is a ZERO sum game For Every Buyer their is a Seller for every Seller there is a Buyer. WHO WINS overall at each price and at every tick! Is determined by their BEHAVIOUR. Behaviour is displayed within the amount of willingness to trade at the offer or bid, in terms of Volume. If Buyers are aggressive\willing enough to Lift the Current Offers this will be displayed by higher volume Traded d on the Offer. If Sellers are aggressive\willing enough to Hit the Current Bids this will be displayed d by higher h volume Traded on the Bid.
What is the purpose of Reading Order Flow? To understand when market is actually finding support or resistance in terms of order flow is buying being cut off? Is selling being cut off? To enhance the probability of running a trade into profit right after or soon after execution. You should practice execution with evidence of order flow on a trading platform if you find that when you enter trades,,you just watch the market chop around against your entry for several minutes. There is no real reward in that! How many time have you got out of a market only to see the market race in your direction several ticks? Reading order flow will not eliminate this completely, but you will be in a much better position with understanding of it than without it! Many traders have the right IDEA about a trade but often have poor timing to accompany this. As Day Traders Timing is Critical!
Reading Pre-Trade Supply and Demand The Tool you need to use to read resting orders on the Bid and Offer (Ask) is the Price Ladder often named the DOM (Depth Of Market). A Typical trading platform can display a Depth of 10 prices, 5 at bid and below and another 5 at offer and above. The numbers on the right column displays the resting offers, and the number on the left the resting bids. They are just RESTING ORDERS! The Price column in the middle. The market works the resting orders, depending on where market orders wish to trade. Sellers hit the Bid with more volume we go Bid, buyer lift the offer with more volume we go offer. The jobs of the market is to facilitate trade it goes where the order flow is! SIMPLE! The market will always be working either the Bid or Offer- Last Trade shows you which. Bids Price Offers 1027.00 879 1026.75 1049 1026.50 877 1026.25 987 1026.00 387 404 1025.75 899 1025.50 1300 1025.25 1179 1025.00 988 1024.75
Reading Pre-Trade Supply and Demand Reading order flow is not an exact science. It is important to just get a guestimate of each column overall, Bids and Offers. Ask your self which is heavier? Which is lighter? By how much? A lot or a little? Watch the hypothetical Order book on the right. At the moment there are less offers on the table above the Asking price, and not much more at the current Bid and below either. There is a demand at 1025.25 and 1025.00 (Even) however we do not know how real this is, and also the offer at 1026.75. Some of these orders can easily be pulled when the market reaches there (Often called Spoofing the market!) Bids Price Offers 1027.00 879 1026.75 1249 1026.50 877 1026.25 987 1026.00 387 404 1025.75 899 1025.50 1700 1025.25 1179 1025.00 988 1024.75
Reading Pre-Trade Supply and Demand Lets assume that this market is becoming more bullish what would we may be see that may have changed on the book? Notice now that the Bids have started to fill up. Pay special attention to the current bid and just below the current bid (1025.75 and.50) notice how the current bid is much heavier than the offer. This is much likely to hold as support as the sellers wishing to hit the bid have more work to do than the buyers that are willing to lift the offer. You can lean on the support of these bids for a better long entry. The market has been bidded up, all that remains to be seen is if the initiating buyers or market orders will start to lift the offers? Bids Price Offers 1027.00 879 1026.75 949 1026.50 877 1026.25 987 1026.00 207 1205 1025.75 1356 1025.50 1700 1025.25 1179 1025.00 1677 1024.75
Reading Pre-Trade Supply and Demand Watch as now the market has proven that those 207 resting on offer were lifted and the market now goes offer 1026.25 and Bid 1026. The offers are getting lighter as we up tick, but the bids are getting g heavier. Which means less resistance and more support... All good for more upside The only real resistance we can see is at 1027. So we can expect this market to lean on the bids for support, and have a high chance of getting to test 1027 s. Bids Price Offers 1027.25 1207 1027.00 1306 1026.75 877 1026.50 787 1026.25 455 1450 1026.00 1345 1025.75 1433 1025.50 1567 1025.25 1233 1025.00
The problem with this approach? Quite simply its not as effective as a standalone method for trading anymore, however still Excellent purely for execution of trades and to confirm timing of entries! The order book can often be spoofed with non-genuine orders as they do not have to get filled and may be pulled very quickly. So its not a True reflection of Real Supply and Demand, Just POTENTIAL Supply and Demand! There are 2 types of orders: Genuine and Non-Genuine. The trick is to identify what is real. With experience it becomes quite easy to define what is real and what is not, but takes focus and attention, as the order book can move REAL quick! Most spoofed orders are about 3-4 ticks away from current bid. SO the trick I use is focus on Current Bid and tick below, and Current Offer and tick above. Also use other evidence from Post Trade Supply and Demand using Market Delta Footprints.. Discussed next.
Identifying i Spoofing Traders usually posting much higher quantity than they are actually willing to buy or sell. This quantity is usually so high, that it stands out on the ladder! Its usually easy to see as it does not fit in with other orders that t surround it. For example 3500 sitting in between order of 800 and 900! Definitely something you watch to see if it gets pulled! The spoof is to create a false impression in other traders mind as to what the supply and demand is around a certain price level. They spoof to scare people away or sometimes they do the same for the opposite reason. They want to attract the market to their order. People are curious and they bid the price up, or offer it down to the spoof so that they can see and test whether this order is genuine or just spoof and removed immediately. There are also lots of algorithms with black box systems that are programmed to spoof, but it becomes easy to figure out, who is doing it and with what intention. Quite Simply Genuine orders are quite consistent and Most spoofs are not close to current bid and offer.
Some example Emini i S&P Screen shots Heavier Bids Heavier Offers
Some example Emini i S&P Screen shots Current Offer Light Current Bid Light
Reading Post Trade Supply & Demand The two tools that exist to read Post Trade Supply and Demand are: Time & Sales Market Delta Footprints t Time & Sales Shows you each individual trade actually filled on the current bid and offer as they trade. Market Delta Footprints Accumulates this information so that it is more easily readable and digestible. You may then display this information in many ways to easily display Execution Patterns that highlight aggressive trading as it is initiated.
Time & Sales With Time and Sales you simply look for S lli FLOODS of Selling or Buying to drive the market off a trade setup. Also watch for larger individual sizes for clues of bigger trade direction. Be aware of Icebergs! Large Trades worked in as smaller chunks. Selling Flood Even\Balanced Buying Flood
Market Delta Footprints Reading Bid\Ask Information Example of Demand Exceeding Supply = Buyers Aggressively Lifting the Offers Price Bid Ask 1003 0 300 1002 140 1100 1001 60 2500 1000 550 1900 999 900 1600 998 110 2500 997 210 0
Market Delta Footprints Reading Bid\Ask Information Example of Supply exceeding Demand = Sellers Aggressively hitting the Bids Price Bid Ask 1003 0 300 1002 1100 140 1001 2500 60 1000 1900 550 999 1600 900 998 2500 110 997 1100 0
Reading Delta Delta = Net Difference between the Bid\Ask Volume (Can Be displayed d at Price or at Bar) Positive Price Delta Negative Price Delta Price Delta Price Delta 1003 300 1003 300 1002 1100 1002-1100 1001 2500 1001-2500 1000 1900 1000-1900 999 1600 999-1600 998 2500 998-2500 997-1100 997-1100
Reading Footprint Profiles The Market Delta Footprint Profile is unique in that it not only shows you a visual representation of Volume at Price (Similar to a Market\Volume Profile) it provides information who was responsible for most of the Volume at that price, the Buyer or the Seller. It does this by shading the Volume profile at each price based upon the Delta (Net Buying\Selling) for each price in that footprint. With enough Time and Practice the Footprint Profile can display some key Execution Setups, that are more visual and easier to identify than reading just numbers. Through Experience at L2ST we have defined some of the setups into a learnable format that you can now follow
Reading Footprint Profiles At each price you will See a histogram building The wider the bar the Higher the volume. The Shading at Each bar Represents the Delta. If The Shading is red that Identifies a Negative Delta, If the shading is Green that is positive i Delta. The Darker the shading the more significant the Delta.
Using the Footprints t for Better Execution Understanding what the Market Delta Footprints are showing you is KEY before applying the tool for Execution. Understand and learn the patterns that are to be shown by repetition of recognition The more you see them and trade off the patterns the more automatic your responses will be once you see them. Understand that Execution is all about Timing based upon Evidence of Order Flow! Learn to recognise what patterns of volume are significant for the market that you will trade. We will focus on examples for the E-mini S&P within upcoming slides and charts...
Market Delta Footprint t Execution Setups Firstly its good,to keep thing simple to get started as you gain more experience with reading and trading with the footprints you will consciously and more so unconsciously begin to recognise more and more patterns for execution as you trade. You then begin to develop an automatic response to these because you begin to see them all the time! Lets look at some more examples of some patterns and significant volume levels that I have recognised for the Emini S&P
High Negative Delta Confirmed Negative Delta Offer to Sell OR Confirmed Follow Through Hit the Bid Delta Divergence
The L2ST-Prints (AKA FacePrints ) By combining and overlaying the Footprint Profile with Delta or Bid\Ask information we have defined some key High probability ways to obtain better execution off some simple, easy to recognise Trade Execution Setups.
L2ST Order Flow Patterns for Execution Understand that Trading with Order Flow is an ART form not an exact science! Patterns will not always appear EXACTLY the same, however they will have similarities, and that is what you look for Similar Behaviours in Order Flow that lead to prior reversals and good trading opportunities. Focus on the High Volume Node, and where it is trading. Focus on where Buyers and Sellers are doing business within the Footprint as it unfolds.
L2ST Order Flow Patterns for Execution To Sell look for a Top or for Buying to be cut off we need the High Volume Node close to the High (2-3 Ticks off the High)of the Footprint with sellers beginning g to Hit The Bids just below with conviction. To Buy look for a Bottom or for Selling to be cut off we need the High Volume Node close to the Low (2-3 Ticks off the Low) of the Footprint with Buyers beginning to Lift the Offers just above with conviction. When you have either of the above conditions its time to look for a trigger by watching the Time & Sales for timing the trade.
L2ST-Prints Pi Buy Setup Example NOTE: Following a Buy or Sell Setup from Step 2 of the game plan, and once Risk and Reward has been defined in Step 3, simply look for the following setups. The L2ST Setups are: To Buy Find that selling has been cut off and we are stalling a down move (you may check Order book fro resting support to lean on and less offers as resistance) the setup for actual entry can be confirmed by Looking for a New Low bar, which is showing positive Delta within 2-3 ticks of the last Low with the High Volume Node Shifting 2-3 tick off the lows. The higher the Delta reading and Volume towards the low end of the bar the higher probability that the trade will play off. This can be further confirmed with the Time & Sales info for timing looking for decent Buy size on the Offer\Ask and a Flood of buying(lots of Green!)
L2ST-Prints Pi Sell llsetup Example NOTE: Following a Buy or Sell Setup from Step 2 of the game plan, and once Risk and Reward has been defined in Step 3, simply look for the following setups. The L2ST Setups are: To Sell Find that Buying has been cut off and we are stalling an up move (you may check Order book for resting offers to lean on and less bids as support) the setup for actually entry can be confirmed by Looking for a New High Bar, which is showing Negative Delta within 2-3 ticks of the last High with the High Volume Node Shifting to 2-3 tick off the Highs. The higher the Delta reading and Volume towards the High end of the bar the higher probability that the trade will play off. This can be further confirmed with the Time & Sales info for timing looking for decent sell size on the Bid and a Flood of selling (Lots of Red!)
L2ST Order Flow Patterns for Execution To Sell look for a Top or for Buying to be cut off we need the High Volume Node close to the High (2-3 Ticks off the High)of the Footprint with sellers beginning g to Hit The Bids just below with conviction. To Buy look for a Bottom or for Selling to be cut off we need the High Volume Node close to the Low (2-3 Ticks off the Low) of the Footprint with Buyers beginning to Lift the Offers just above with conviction. When you have either of the above conditions its time to look for a trigger by watching the Time & Sales for timing the trade.
MD Footprint Buy Setups Typical Buy Setups for Lower Volume Markets Typical Buy Setups for Lower Volume Markets Like: MiniDow, Crude Oil, Gold, Dax & Russell
MD Footprint Buy Setups Typical Buy Setups for Lower Volume Markets Typical Buy Setups for Lower Volume Markets Like: MiniDow, Crude Oil, Gold, Dax & Russell
MD Footprint Buy Setups Typical Buy Setups for Higher Volume Markets Typical Buy Setups for Higher Volume Markets Like: Emini S&P, DJ EuroStoxx
MD Footprint Sell Setups Typical Sell Setups for Lower Volume Markets Typical Sell Setups for Lower Volume Markets Like: MiniDow, Crude Oil, Gold, Dax & Russell
MD Footprint Sell Setups Typical Sell Setups for Lower Volume Markets Typical Sell Setups for Lower Volume Markets Like: MiniDow, Crude Oil, Gold, Dax & Russell
MD Footprint Sell Setups Typical Sell Setups for Higher Volume Markets Typical Sell Setups for Higher Volume Markets Like: Emini S&P, DJ EuroStoxx
L2ST Order Flow Patterns for Execution Lets Look At Volume Breakdown es oo ou e ea do Delta Divergences...
L2ST Game Plan STEP 5 Outstanding Trade Management
The Importance of Outstanding t Trade Management Trade Management is probably the most important step of the game plan! WHY? Because this is the step that defines the OUTCOME of any trade! How well you manage the trade will define the amount of loss possible in that trade, and also just as importantly the amount of PROFIT! No trading plan is complete without OUTSTANDING Trade Management & the L2ST trading is definitely not complete without it!
Step 5 - FOCUS POINT: Risk Elimination! i The Most important think to Focus on as soon as you are in a trade is... HOW CAN I REDUCE OR ELIMINATE RISK AS SOON AS POSSIBLE! Not How much Profit can I make! Profit making becomes the objective only after you have No Risk in the trade!
Effective ways to Minimise Risk In Order of Efficiency: 1. Disciplined Exits base upon Order Flow 2. Time Based Exit 3. Scaling Out 4. Counter Trade Divergence 5. Hard Price Stop
Effective ways to Maximise i Profits Pre Defined Trading Platform - # of Ticks/Points based Profit Targets Using Price, Market Profile, VWAP and Fibonacci Support/Resistance Profit Targets Using Trailing Stops - Volatility/ATR Stops - Price Swing Stops
Outlook on Risk\Trade Management Make the move towards a different Outlook on Risk, in essence like jumping out of an airplane. Having jumped, the situation itself and the experience of free-falling through the air becomes the new context that defines your experience. Once you are in the air you must MANAGE the fall, the opening of your parachute and your landing. Once within this experience your focus and attention automatically shifts to a very powerful sense of BEING in the NOW and in the Present. Having made the commitment to jump, you have no alternative but to manage your flight through the air. Your thoughts, opinions, your feelings and past history have very little do with handling your experience. How your respond to the event itself, after jumping is the critical issue!
Outlook on Risk\Trade Management The same principles apply to Trading. You have to go BEYOND the planning\analysis stages and TAKE ACTION. You have to move BEYOND the reasons why it won t work. Your Task is to act consistently with your declaration and commitment, and... Learning to trade IN THE gap between where you are and where you wish to be!
L2ST Order Flow Patterns for Trade Management & Exits Risk ELIMINATION is the Goal! Focus on eliminating Risk and THEN Maximising Profits. Get to Break-Even and No Risk ASAP! Use Profit Target Exits and try to hold the VISION of where you expect the market to go to and also how you expect it to trade. Use order flow to highlight hli ht if the market may turn against you soon after entry, and if so you need to know how to react! At times - without Fear you need to observe for a good enough reason to exit or take profits before Profits Targets\Stops may get hit.
Exit Example for Emini i S&P
Trade Management Example Crude Oil
Trade Management Example Crude Oil
Trade Management Example Crude Oil
Trade Management Example Crude Oil
The L2ST Technique for Unbeatable bl Discipline i & Commitment 1. Silence the Mind of Inner Thoughts, Voices & Emotions (Regular Meditation helps if you find this difficult!) 2. Hold the Vision of What you need to see in order to react and Execute the trade (Or Exit the trade if already in the trade!) 3. Repeat, the following Mantra, with your inner voice I KNOW what I need to see. I KNOW what I need to see. I KNOW what I need to see. I KNOW what I need to see. 4. As you repeat keep you focus & attention on the screen of your minds sub-conscious. Keep KNOWING that you will respond automatically and pull the trigger. Again trust the unconscious mind!
The L2ST Visualisation Technique Metaphor
The L2ST Enhanced Learning Process Learn to Trust your Sub\Unconscious Mind Believe in Your Ability to learn rapidly and unconsciously as well as consciously Do not TRY to learn, just let it happen naturally. Your Unconscious Mind Learns more effectively & more quickly without effort! Open your Mind, Learn to let go and you will tap into the infinite Intelligence that will expand on your leanings over the next 3 days to all future experiences. Let Go & Let the Infinite Intelligence Flow! You Already KNOW all You Need To Know, However you will be guided so that you can find what is already within YOU
The L2ST Enhanced Learning Process A Process for Successful Learning Learn Knowledge- Unconsciously & Rapidly RELAX - See, Hear and Feel & TRUST! It takes Time to Understand & Process the Knowledge consciously Review, Review & Review Practice Application from Understanding to grow Experience & Consciousness Performance and Feedback is essential! Continue to Grow Understanding & Unconscious Competence through EXPERIENCE This is the L2ST Learning Loop Repetition & Unconscious Learning is the key to SUCCESS Trading Success is an accumulation of Trading Experience
The L2ST Enhanced Learning Process Learn Knowledge Unconsciously Grow towards Unconscious Competence & MASTERY Process the Knowledge Consciously Performance and Feedback Rapidly Apply, Take Action & Build Experience
The L2ST Build Process STEP 1: Building a Solid Foundation and Structure By Further Learning 1. Review Training Material Slides and Presentation Videos. 2. Take Time to Learn each step of the Game Plan one by one. 3. Continue to Learn and further your understanding within the L2ST live Trading Room. Begin to observe the L2ST Game Plan in real-time application. Watch, Listen and Learn. 4. Start with Step 1 and learn the to understand market participants behaviours around Value. 5. Understanding the Price and Value Relationships Fully, by identifying in real-time.
The L2ST Build Process STEP 2: Furnishing your Understanding 1. Identify the Trade Setups including Divergences very well. Learn to identify the opportunities with ease in real-time. 2. Understand How to Identify the Risk Reward in each trade with ease, learn to do it very quickly. 3. Understand the importance of reading the order flow for trade execution and better timing to reduce risk and probability in a trade. 4. Practice Trade Execution based upon this new understanding with a Live Simulator Trading Platform. 5. Begin to Focus on Trade Management to eliminate Risk firstly, cutting trades very quickly when wrong. 6. Practice Maximising Profits and Running Trades 7. Record Performance Daily and keep a written trading journal.
The L2ST Build Process STEP 3: Improving Understanding through REAL Experience 1. Know that FULL Understanding will come through Experience and Application. 2. From this state of knowing begin to apply the knowledge from the structure t that t you have Build in Step 1 and Understanding di in Step2 through to Real-Time Live Trading with minimal trade size. 2-3 contracts should be sufficient enough. 3. Continue to record performance and provide yourself feedback, with a written journal. 4. Continue to Practice with Conscious Competence, looking to move to unconscious competence. 5. If you need help with further understanding or have questions about trades entries and exits. Take Screen shots of trades mark comments and send to Brian or myself for review.
The L2ST Build Process STEP 4: MASTERY 1. The Goal is to Gain Unconscious Competence meaning that you now UNDESTAND the methodology so well that the application of the knowledge becomes almost Automatic. 2. You no longer think yourself into trades. 3. You just respond to trades based upon a Solid Foundation of Understanding of the Methodology its setups and Reading Order Flow. 4. You automatically minimise Risk quickly and cut trades that have no further evidence to support your decision. 5. You trade effortlessly each and every day KNOWING that each day WILL be profitable. No more belief in drawdowns. 6. You are one of the BEST traders in the world and now not only do you believe it YOU KNOW IT
More Information & Education 1. Review the Video Seminars you already have form L2ST and this 3 day seminar once produced. 2. Join in to the L2ST Live Trading Room DAILY! 3. Become a student of the MARKETS! And let them teach you!