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Mike asked us to separate comments into a new thread so.... Please share your experiences about L2ST. I am thinking of joining but trying to decide between L2ST and 2 other market profile rooms.
Can you help answer these questions from other members on NexusFi?
Longboat, my experience with L2ST has been remarkable in the fact that in the first month with L2ST I have learned more about trading than the last 3 years. In my opinion, they are the best educators with regard to market profile and reading order flow. Make no mistake, they are not a trade calling room, they are educators.
The two guys that run the show are Brian and Kam and they make a pretty good team. They take turns running the room which starts around 0830 EST and goes until 1130 EST. The first hour is devoted to premarket analysis of usually the ES or the Russell. Identifying possible levels or turning points, high volume and low volume areas, and market structure all taken in context of the bigger picture. After the market opens, price action is observed and once it reaches a possible turning point then order flow is stalked for evidence that buying or selling exhaustion has occurred.
I've studied Market Profile for a long time now and I've always felt that something important was missing from the bigger picture. Combining MP with order flow is brilliant. To take it one step further, they also are very big on the importance of the "mental" side of trading which most traders overlook yet it remains far and above the most important piece of the trading puzzle.
To make a long story short, they're good good guys, the real deal, and I'm very happy I found the room.
There are a lot of guys who have used their service from other forum's. Hundreds that I have seen, so out of all of them, Next to the James16 group, they honestly seem the most legit or largest but I thought they were mostly doing just currencies? Maybe that has changed.
That you do! Makes me focus all that much harder lol..
Currently the focus is on the ES, Russell, Dax, and in the past they've traded oil & gold. There is discussion of a currency trading room that is going to be starting very shortly in the next few weeks headed up by Brian so that should be good stuff.
You can go to L2ST - www.inthetradingzone.com - L2ST - www.inthetradingzone.com to see their free videos of their methodology, and recent trades. They are market profile traders though... Luke, welcome to the dark side! . They seem to have a comprehensive approach to market profile, combined with bid/ask volume analysis. If I used volume in my trading, I would definitely be checking them out further. The videos seem to portrait them as trend riders, averaging 100's of ticks per trade. Although I saw one video with the moderator scalping for a few ticks using just the bid/ask footprint chart.