Imran Naqvi's Journal

[immy]

Imran

I said "Using Grants Trade Managemen". Following dots it was an exit. You have to decide, in your trading plan, what exit system you're going to follow. I suggest we trade the Grant Trade Management from now on. It is very powerful and specifically useful for newbies. Grants Journal is where you will find Grants TM!

cheers

Immy

[naqviimran]

Hi Immy/Grant/AIMS Masters,

I did a seed hunt trade today. Everything looked very good with monarch on M5 as well. Pls guide me as to where I had gone wrong.

Have attached M5,M15 and H1 charts for reference.

[naqviimran]

Another hunt trade that stopped me out.

Is there anything that is grossly missing here with me?. Any lacunae in my understanding of the system? Please guide me.

[immy]

Hi Immy/Grant/AIMS Masters,

I did a seed hunt trade today. Everything looked very good with monarch on M5 as well. Pls guide me as to where I had gone wrong.

Have attached M5,M15 and H1 charts for reference.

Just got back from Holidays saw your post. so i'm gonna be quick and sharp.

This First thing you've done wrong is that you've jumped from Trading The Setup to Trading The Hunt within a week.
That leads to another thing. You probably Don't have a written concrete trading plan which clearly states what is the way you enter and exit and what are your trading objectives.

my dear brother, You can't just suddenly decide to switch your trading methods. Even though you're still within the AIMS spectrum. You gotta stick to a simple strategy and see if it works FOR YOU, and when you know it fits YOU then its time to "boringly" milk it. .

hope it makes sense

ps: What did you do wrong? well, the price went the other way... you can't make the market do what you want all the time. Some of them will go the other way, you just gotta work with probabilities, and let it work in your favour by doing the same thing over and over. having said that , there were many ways to avoid this trade but its useless to comment further. I need to know WHAT is your Trading Plan. Is it Setup 1? is it Setup 1 and hunt, are you in Stage 3 already? where are you?

[naqviimran]

I tried with setup 1 with demo trade for a month. It was totally into profits with less losers and more winners. The day when I began real trading it seemed that the market was against me. I was being stopped out although I was following all the rules. I started losing confidence in myself. I started losing courage to take trades that were good setups and went like a winner in front of my eyes and looked at them in dismay, cursing my fear.

When I saw Hunt, I thought of saving my time (instead of wading through many charts to find setup 1) by seeing hunt signal and doing high probability setup 1 ONLY. If you see my trades, I was only doing setup 1 with cues from Hunt signals. Actually, I did this because I was not able to get a pop up alert when there was a setup 1, but Hunt does that. So I thought of following hunt signals on M5 and then trade the pullback with setup 1 on M1.

So, in a nutshell, I am only and only trading setup 1 and not Hunt. Hunt is only like a early warning signal (on M5) to me to ride the setup 1 (on M1).

Hope I make some sense to you, brother.

[immy]

Imran

Q1. Do you have a Trading Plan?
Q2. Do you have a mechanism to score your discipline? such as T20 principle?

If you want to follow the Hunt Strategy, you'll have to accept applying T20 for 3 Months, then move on to stage 2. If you need help with that consider joining skype room where we can chat for longer in live.

We know the strategy works, that is not the question. What we want to do is to Train ourselves to Trade the strategy correctly. For that we need to apply a mechanism to train ourselves for discipline. Correct trading requires discipline and patience. Discipline and patiences training is the first step.

There are No Short Cuts.

[immy]

The only way to find out if you're applying the strategy and whether the strategy is working is to keep a discipline score.

If your Discipline score is less than 70% you cannot blame your strategy. If you're discipline score is over 90% and your profitability is not satisfactory then we can discuss "tweaks" in your trading strategy.

hope it makes sense.

[naqviimran]

Yes, it does. Thanks. I will follow T20 principle.

[immy]

Yes Imran, do that please and you'll find that its very effective. I read your above reply again and I understand what you mean. So, i think you are on the right track in terms of your understanding. good very good.

now, what can we do about the fear and greed factor of live trading. The only way around that "pivotal" "prime" problem is .... simple boring but very effective.

Trade the same setup over and over and over again and gradually, "with experience and time" the effect of fear will dissipate. Its good to have some levels of fear/anxiety still left , which we can call "healthy levels of stress" because it is required for "peak performance". if you're not even a bit nervous about your performance, chances are you'll fall into complacency and start making silly mistakes.

hope this makes sense too...

[naqviimran]

Immy,

The fact that you have been able to understand what I meant is, to me, a tonic in itself, since your answer makes me feel that I m working in the right direction. Today (Sunday), I quietly sat in a corner of my house to read, read, read and just read (about 8 hours) your old journal, and, believe me, I have repaired not only my concepts but my confidence as well. In fact, it 12.11 a.m (Monday) here in India, and I m still reading, which started at 10 a.m (Sunday), and I am loving it.

Very soon, I will start posting my trades here (T20 trades), so that you can help me in case I m still wrong anywhere.