Murph's Trading Journal

[MagicMurph]

Monday Oct 12th 2015

A perfect Monarch Pattern formed at 09:20 (7.20am) and Grant wrote about it in the room. Immy mentioned later that everytime he sees a monarch pattern away from purple, he trades. I didnt trade as it was not LO but it is nice to show a good example if it presents itself for learning.

[MagicMurph]

Monday Oct 12th 2015

Here is an example of a trade I would of taken but Grant said No. The reason being is that we had a 20 upbars in eWave and the price had moved too far from the purple. Hence a lower probability trade.

[MagicMurph]

Monday Oct 12th 2015

Here is another trade I would of taken but I would of been wrong. Grant asked me had the eWave retraced and the answer was NO. If the eWave has not retraced then there is no trade setup.

[MagicMurph]

Monday Oct 12th 2015

Now here is an example of the NO VOLATILITY and staying out of the trades

[MagicMurph]

Monday Oct 12th 2015

Now here is a trade that I would of taken but some members said they wouldnt. It turns out they should of. It is important to understand that a setup .. is a setup .. is a setup

[MagicMurph]

Monday Oct 12th 2015

here is an example of not having a setup and a good example of divergence

[immy]

Monday Oct 12th 2015

Now here is a trade that I would of taken but some members said they wouldnt. It turns out they should of. It is important to understand that a setup .. is a setup .. is a setup

GREAT POST BUDDY! Mrs. Brown's having a nice cup of tea! ~o) and made one for you too! :-B

[MagicMurph]

Start of the 20 Trade Journal

Now that I have started to get some idea of the Seed Cherry Strategy and following the Skype chat room diligently for the 2 sessions everyday, I feel it is time now to try and execute 20 trades with hopefully a DS score of 1 on all trades. I am unconcerned about the results for now as I want to instill a patience and discipline and lose the impulse nature of my trading.

Here is the Setup and Filtration for the Seed Cherry Strategy
Market: DAX M1
Strategy: Seeds & Cherry
Trading Times: 8.00am to 10.00am and 2.00pm to 4.00pm

Setup Rules (M1 chart)
1. Has eWave made a new High or Low Peak ?
2. Has eWave retraced (darker line drawn on eWave) ?
3. Is price above purple (to take a long trade) or below purple (short trade)
4. Is the purple of the current time frame inside the AIMS box? If yes then it is a No Trade.
5. IS the Seed under 10pips (M1 timeframe)
6. Is Seed or Cherry above the Gator (for long) or below the Gator (for short)
7. Check Filtration Rules before placing

Filtration Rules
1. Do not take signal if the price is already at (or very close) to TZ1.
2. Do not take signal if eWaves is diverging.
3. Do not take signal if there is NOT a new peak on price.
(sometimes there is a peak on eWave but no peak on price… ALWAYS filter these)
Note: If it diverges but does create a new peak on price it’s still higher probability compared to when it does not create a new high or low on price.
4. Do not trade a Seed if either of the Gators (M5 and M1) are closed and NOT in the same direction of the trade.


Tuesday Oct 20th 2015
Trade #1: (Cherry)

Sell @10120
SL 8pips
TP 16pips
Result: BE (0R)
DS Score 1
Running Total BE(1),TP(0R),SL(0R)

[MagicMurph]

Wednesday Oct 21st 2015

Morning Session 7.30am – 10.00am (2.5 hours)

Trade #2: (Seed)
Sell @10168
SL 9pips
TP 18pips
Result: 18pips (2R)
DS 1
Running Total BE(1),TP(1),SL(0)

Trade #3: (Cherry)
Sell @10146
SL 11pips
TP 22pips
Result: BE (0R)
DS Score 1
Running Total BE(2),TP(1),SL(0)

External Discipline:
Stopped trading at 10.00am and went for 30min run
Started Trading Journal after I reviewed MZ's journals.
Read a chapter of Trading in the Zone

Afternoon Session 1.30pm – 4.00pm (2.5 hours)

Trade #4: (Seed)
Sell @10232
SL 10pips
TP 20pips
Result: 2R
DS 1
Running Total BE(2),TP(2),SL(0)

[immy]

Murph would you please drag and drop the trades from History on to your chart so we could see the trade arrows.!

cheers

Great start and lets keep it neat and tidy like so. Keep in mind , not every day will be moving clean day like today. So most days we will exercise patience and its within those days, great traders and average traders are distinguished! The great traders know how to protect their capital and the average trader does not give a shit. He/She is driven by greed and fear and loses objectivity... You are trading objectively... Pips or 2R's is not your target. You know that your target is to come out with a score of 20/20 at the end of T20, batch 1

chow chow