Some thoughts on the L2ST trading room:

Overall I learned a lot. I originally joined because I wanted to see how they used the ladder and I figured one month of the trading room ($300) would be cheaper than the OFA course. I underestimated their businessman skills and the complexity of trading off the ladder.

They not only sell the trading room but they sell their "Art of Adative Trading" video ($300) and also a 3 day intensive seminar ($2000). Quite a few times when a question is asked, the response is to buy one of these seminars. Despite this being really frustrating, I actually understand this approach. Kam has made a video several hours long explaining his approach and he can't interrupt the trading room every time someone asks a question that is covered in the video which is just about every day.

I spent a lot of time reading about market profile, studying Kam's trades, talking to ex-room members, etc. So I didn't get these programs. After 2 months I feel like I have a good understanding of his approach and I'm using a lot of his concepts in my trading.

If you're considering joining the room and do not have a good knowledge of market profile & the volume ladder, I'd say the art of adaptive trading is mandatory and if I had it to do over again I'd purchase it first so that the room was more productive.

He trades very fast. Sometimes scalping, sometimes going for bigger trades (depending on what phase he's in). I tried scalping with him. He lost money, I forgot how much but not a lot and I lost $1300, on sim of course! So don't think you can join the room and make enough money trading his calls to pay for the room. The room is educational.

That said he does show his DOM when he puts on a trade, sometimes it's offscreen when he enters just because he doesn't have room for charts & dom at all times. But once in a trade we see the dom and how he manages it. The first month he wasn't trading, he was just giving his analysis and advice "if you're long hold, if you're short tighten your stop" that sort of thing. He'd call out setups.

For the 2nd month he tried something new, trading live with real money showing his DOM. Not many rooms do this and I must give him credit, he has done it very well. I'm not sure he's had a losing day (even the losing day I saw he managed to come back later in the day). The past few days he's made around $500/day. And this is with 2 contracts. I'm sure he can make thousands trading by himself with 4 contracts and without distractions of the room. Kam is an excellent trader who can read the order flow. He trades on intuition. Often he trades things that are not in the trading plan. We probably couldn't get away with it but he can. One day I joined late and he had already made $450 in the first 30 minutes and was done trading for the day!

One negative point for me: He's always talking and that's very distracting. So if you plan to trade while in the room you will probably have trouble doing this. And if you trade something other than the market he's trading (currently crude) then it's almost impossible to trade & follow his trades. I tried to record it once and when saving it my camtasia crashed so it really comes down to listening to him and not trading or trading and not listening to him. Tough choice, especially when paying $300/month for the room.

So for this last reason I will not renew my membership after it expires end of next week. I am trading ES and his talk is distracting to me. This would probably be true of any trading room. I feel like I've learned the material and I just need more practice. I don't feel I need to pay $300/month to continue the room but a beginner would probably need many more months. I am using what I learned from L2ST and it has helped my trading.

One final note: There is another coach Brian who is there a few days a week in the afternoon. Since I don't trade the US afternoon I didn't get to hear Brian much. He is very passionnate (like Kam) and he teaches the basics of identifying value areas.

So there you have it. kam's an excellent trader who really is interested in teaching the members. He gives a lot. And I highly recommend the l2st trading room if you haven't been exposed to the ladder setups & market profile elsewhere. Just budget for at least one month of the room and the art of adaptive trading ($600 total plus more if you're new to trading and need to continue in the room for another month or two).

I was expecting the area around 56 to hold but when buyers came in they were aggressive enough to push it higher than 64. And I kept getting stopped out breakeven. But I'm really surprised that sellers were aggressive in the 50's. They could have easily waited and sold around 1180 or higher.

I would have loved to have heard Ben's commentary as it unfolded. Maybe someone made a recording of it somewhere.

I have checked out IOAMT recently and Bill does a good job of instuction without pushing seminars on volume ladder/MD. I watched Kam's videos and it did help, but I don't like they don't offer a trial. Without your feedback I would have never considered them since IOAMT and Alexander Trading offer a a trial to their room. I appreciate your thoughtful post.

Michael,

Would you mind selecting two very specific goals that you will focus on this week in your trading, and then measure yourself on these goals each day? If so, please share them with us.

Great idea Mike, here we go:

1 - Avoid trading against a big move, especially in an imbalanced market

2 - Be more strict with entry criteria to take only the best setups and not to take those early.