Murph's Trading Journal

[immy]

The T20 exercise is a way to Create New Habits and break old patterns of behaviours.

The important rule is

"Don’t wait for it to “feel right.”"
Improving your self discipline means changing up your normal routine, which can be uncomfortable and awkward.

Charles Duhigg, author of The Power of Habit, explains that habit behaviors are traced to a part of the brain called
the basal ganglia – a portion of the brain associated with emotions, patterns, and memories.

Decisions, on the other hand, are made in the prefrontal cortex, a completely different area. When a behavior
becomes habit, we stop using our decision-making skills and instead function on auto-pilot.

Therefore, breaking a bad habit and building a new habit not only requires us to make active decisions, it will feel wrong.

Your brain will resist the change in favor of what it has been programmed to do.

The solution?

Embrace the wrong.

Acknowledge that it will take a while for your new regime to feel right or good or natural. Keep chugging along. It will happen.

Keep Hitting those setups, keep adding your DS1's

[MagicMurph]

I love ya man ... thank you 1million per cent ... just what I needed to hear today .. have a great weekend

[MagicMurph]

Trade #7 (Seed)
Buy: 10725
SL 10717 (8pips)
TP 10741
Result -8pips (-1R)
DS Score 1
Comment: I asked if this was valid or not Spiros said that it looked good to him also BUT ... he didnt like the price as it had bounced off the purple and e-wave was indicating a possible 4 leading to a 5 down .. so he passed.

[MagicMurph]

Change of DS Score for above trade

I have now reviewed Immy's comments (for previous trades) and I can see that my filter for momentum was not correct. Here we have a W4 and I should not be trading in a W4 - great lesson for me. DS now changed to 0 for Trade 7. I need to keep an eye on the volatility and momentum filters .. they are catching me out ...

[MagicMurph]

Trade #8 (Cherry)
SL 11pips)
TP 22
Result -11pips (-1R)
DS Score 1
Comment: Good trade IMHO. Setup was there and Volaitility was there. Asked the group and they didnt get the cherry signal .. so that explains that.

[MagicMurph]

Trade #8 (Cherry)
SL 11pips)
TP 22
Result -11pips (-1R)
DS Score 1
Comment: Good trade IMHO. Setup was there and Volatility was there. Asked the group and they didn't get the cherry signal .. so that explains that.

I am feeling a little disheartened by my trading as I know it is not about profit but I havent had a winning trade in this batch of 8 trades so far. What this has done is instill fear on taking a trade even when the setup is met and the filters applied. Hence why I haven't traded in a few days ... I will stick with it and go for the highest DS score possible. I knwo I need to forget about winning trades .. it is just hard.

[MagicMurph]

Monday 23rd Nov

Trade #9 (Seed)
SL 10 pips
TP 20pips
Result +20pips (2R)
DS Score 1
Comment: Text book trade according to Grant's Seed Flow Chart but Immy mentioned something interesting and said that if it is not a Monarch then we should wait maybe for a few dark bars ... will write that into my trading plan.

[immy]

Trade 7 and 8 are similar kind of pattern on eWave. Try to trade within the start of the wave. When eWave bars are bigger the probability of success is lower.

[MagicMurph]

Tuesday Nov 24th 2015

Trade #10 (Seed)
SL 10 pips
TP 20pips
Result -10pips (-1R)
DS Score 1
Comment: Nothing wrong with this trade .. perfect Seed.

[MagicMurph]

Aside Note; How MZ takes only creme de la creme (might help someone else also)