Murph's Trading Journal

[MagicMurph]

Thursday Oct 22nd 2015

Morning Session 7.30am – 10.00am (2.5 hours)

Trade #5: (Seed/Cherry)
Buy @10263
SL 12pips
TP 24pips
Result: BE (0R)
DS 1 (# of DS Scores To Date: 5/5)
Comment:
Running Total BE(3),TP(2),SL(0)

Afternoon Session 1.30pm – 4.00pm (2.0 hours)

Trade #6: (Seed)
Buy @10311
SL 24
TP 48pips
Result: 48 (2R)
DS 0 (# of DS Scores To Date: 5/6)
Comment: Should not of chased trade. I got lucky but we should not have a SL bigger than 13pips
Running Total BE(3),TP(3),SL(0)

Trade #7: (Cherry)
Buy @10374
SL 14
TP 28pips
Result: -14 (-1R)
DS 0 (# of DS Scores To Date: 5/7)
Comment: went in 3 minutes too late and also the SL was 1 pip above the max
Running Total BE(3),TP(3),SL(1)

Trade #8: (Cherry)
Buy @10472
SL 12
TP 24pips
Result: BE (0R)
DS 1 (# of DS Scores To Date: 6/8)
Comment: good trade
Running Total BE(4),TP(3),SL(1),

[immy]

Great trading today and good discipline in terms of keeping your journal as well. One question if you don't mind.

Could you please explain Trade number 6. You have to understand the probabilities and risk management. We DO NOT take trades with 24Points SL. PERIOD> As long as you don't understand this core principles trading will be a tough job. Its all above keep your losers small... you have heard that right? I know cliche'. But how do you achieve that? Yes, yes, by not taking trades that require more than 13 points SL.

cheers

[zlabis]

Excellent stuff, Kieran!!!
Keep going with patience and discipline and follow movement and structure ;-)

[MagicMurph]

Excellent stuff, Kieran!!!
Keep going with patience and discipline and follow movement and structure ;-)

thanks Michael and I am so learning a lot from your journal ... Master Mike !!!

[MagicMurph]

Great trading today and good discipline in terms of keeping your journal as well. One question if you don't mind.

Could you please explain Trade number 6. You have to understand the probabilities and risk management. We DO NOT take trades with 24Points SL. PERIOD> As long as you don't understand this core principles trading will be a tough job. Its all above keep your losers small... you have heard that right? I know cliche'. But how do you achieve that? Yes, yes, by not taking trades that require more than 13 points SL.

cheers

Hi Immy

Thank you for your comments. You are COMPLETELY CORRECT with Trade #6 .... The Seed candle had formed but I had taken my eyes off the screen. When I looked back at my screen, I saw the seed and we were onto the large green candle. I didn't measure the distance from the seed candle and just placed the trade (Buy-Bar) on the ATM. The distance of the SL turned out to be 24pips which I KNOW is not in my trading plan but the trade was hit immediately after placing the BUY-BAR. I know the max SL should be 13pips and hence the 2R return will be 26pips (not the 48pips). I do understand this principle ... very much .. which is why I asked the question before ref "why is it important that a seed bar is not greater than 10pips" and I am completely convinced of this. I will make mistakes but once I learn from them. I should NOT of jumped on this green candle if I missed the Seed trigger bar. I got excited and didnt want to miss it but I should NOT of taken it.

thanks for all your help on the journey

Kieran

[MagicMurph]

Friday Oct23rd 2015

Morning Session 7.30am – 10.00am (2.5 hours)

Trade #9: (Cherry)
Buy @10635
SL 9
TP 18pips
Result: -9 (-1R)
DS 1 (# of DS Scores To Date: 7/9)
Comment: good trade
Running Total BE(4),TP(3),SL(2) - running total is +4R profit

Trade #10: (Cherry)
Buy @10628
SL 7
TP 14pips
Result: BE (0R)
DS 1 (see below .. I was corrected as this was NOT a DS of 1 but a DS of 0 as the price was below the gator) (# of DS Scores To Date: 7/10)
Comment: not sure if this was a wise trade
Running Total BE(5),TP(3),SL(2) - running total is +4R profit

Afternoon Session 1.30pm – 4.00pm (2.0 hours)

Trade #11: (Cherry)
Buy @10808
SL 7
TP 14pips
Result: 0 pips (0R)
DS 1 (# of DS Scores To Date: 8/11)
Comment: good trade
Running Total BE(6),TP(3),SL(2) - running total is +4R profit

Trade #12: (Cherry)
Sell @10812
SL 9
TP 18pips
Result: -9 (-1R)
DS 1 (# of DS Scores To Date: 9/12)
Comment: good trade
Running Total BE(6),TP(3),SL(3) - running total is +2R profit

Trade #13: (Cherry)
Buy @10635
SL 20
TP 40pips
Result: 40pips (2R)
DS 0 (# of DS Scores To Date: 9/13)
Comment: SL was too big. It should be no more than 13pips and it was 20. hence I needed the trade to go for 40pips to get my 2R.
Running Total BE(6),TP(4),SL(3) - running total is +5R profit

[mirgi]

Hi Murph,

Trade 10 is good? Long Cherry belove red line is ok? Because I have in my TP that Cherry or Seed belove/above red line is not valid.

[MagicMurph]

Hi Murph,

Trade 10 is good? Long Cherry belove red line is ok? Because I have in my TP that Cherry or Seed belove/above red line is not valid.

you are 100% correct and Trade 10 is not correct ! Thanks a million

Murph

[MagicMurph]

Monday Oct 26th 2015

Morning Session 7.30am – 9.15am (1hr 45min hours)

Trade #14: (Cherry)
Sell @10773
SL 11
TP 22pips
Result: 0 pips (0R)
DS 0.5 (# of DS Scores To Date: 9.5/14)
Comment: My TZ1 was at 10764 and hence I maybe should not have taken the trade. But Michael pointed out to me that there was still a 1R to be had and hence it was high probability trade for a BE so I have adjusted my trading plan for such scenarios again.
Running Total BE(7),TP(4),SL(3) - running total is +5R profit

Afternoon Session 12.30pm – 2.00pm (1.50 hours)

Trade #15 & #16: (Cherry)
Buy @10834
SL 13
TP 27pips
Result: 27 pips (2R)
DS 1 (# of DS Scores To Date: 10.5/15)
Comment: good trade but had some problems with ATM as i had installed the new version. All fixed now.

Buy @10840
SL 7
TP 14pips
Result: 14 pips (2R)
DS 1 (# of DS Scores To Date: 11.5/16)
Comment: I added to the original trade
Running Total BE(7),TP(6),SL(3) - running total is +9R profit

[immy]

MAGIC