Coaching Programme
Coaching Programme
Coaching Programme
L2ST does not have any knowledge of the trading needs or objectives of
individual viewers of this presentation
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 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
d i iis appropriate
i t iin lilight
ht off th
their
i own particular
ti l ttrading
di needs,
d objectives
bj ti
and financial circumstances.
Pre-Trade
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.
Supply
RESTING PRE
PRE-TRADE
TRADE SUPPLY & DEMAND
Post-Trade
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.
price
WHO WINS THE TICK BY TICK BATTLE?
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
t see as it does
to d nott fit in
i with
ith other
th orders
d th
thatt surround
d it.
it For
F example l 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.
S
Some example
l Emini
E i i S&P Screen
S shots
h t
The two tools that exist to read Post Trade Supply and
D
Demand d are:
Time & Sales
Market
M k t Delta
D lt Footprints
F t i t
Time & Sales Shows you each individual trade actually
filled on the current bid and offer as they trade.
trade
Market Delta Footprints Accumulates this information
so that it is more easily
y readable and digestible.
g You mayy
then display this information in many ways to easily display
Execution Patterns that highlight aggressive trading as it is
initiated.
initiated
Ti
Time & Sales
S l
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.
d You then
h begin
b i to d develop
l an automatici response
to these because you begin to see them all the time!
Delta Divergence
Th L2ST-Prints
The P i t )
L2ST P i t (AKA FacePrints
F
Lets
e s Look
oo At Volume
o u e Breakdown
ea do
Delta Divergences....
L2ST Game Plan STEP 5
Outstanding
g Trade
Management
Th Importance
The I t off Outstanding
O t t di Trade
T d Management
M t
In Order of Efficiency:
1.
1 Disciplined Exits base upon Order Flow
2. Time Based Exit
3. Scaling
l Out
4. Counter Trade Divergence
5. Hard Price Stop
Eff ti ways tto M
Effective Maximise
i i P Profits
fit
Learn
Knowledge
Unconsciously
Grow towards
Process the
Unconscious
Knowledge
Competence &
Consciously
MASTERY
S
Rapidly Apply,
Apply
Performance Take Action &
and Feedback Build
Experience
Th L2ST B
The Build
ild Process
P
STEP 4: MASTERY