Here is a nice counter you can use when you know that your opponent is going to attemp a leg lock on you while you are standing.
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Eddie is standing over Cole, Eddie can feel that Cole is going to throw his right leg around his exposed left leg. Before Cole gets his leg wraped around, Eddie...
Eddie puts his left arm on his own left thigh- so that Cole's leg goes over the top
Eddie steps back with his right foot and drops his weight for base. Eddie then grabs the side of Cole's foot with his right hand and leans forward, forcing more bend in Cole's leg as he bends the foot towards Cole's body.
Eddie places his left hand on top of his right, so that all 10 fingers are on top of Cole's foot.
Eddie bends forward, twisting Cole's foot downward and pulling up with his left forearm to complete the counter submission.