Murtaugh's Trading Journal - futures io
futures io



Murtaugh's Trading Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Murtaugh with 8 posts (8 thanks)
    2. looks_two bobwest with 3 posts (12 thanks)
    3. looks_3 josh with 1 posts (7 thanks)
    4. looks_4 Scalpingtrader with 1 posts (4 thanks)
      Best Posters
    1. looks_one josh with 7 thanks per post
    2. looks_two bobwest with 4 thanks per post
    3. looks_3 Scalpingtrader with 4 thanks per post
    4. looks_4 Murtaugh with 1 thanks per post
    1. trending_up 577 views
    2. thumb_up 33 thanks given
    3. group 2 followers
    1. forum 13 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Murtaugh's Trading Journal

(login for full post details)
  #11 (permalink)
Murtaugh
Newark, Delaware, United States of America
 
 
Posts: 10 since Oct 2021
Thanks: 7 given, 10 received

I made three trades on Thursday and did trade on Friday. Three losing trades. I broke my rules and micromanaged the trades, and lost as a result. Will be stepping away from positions opened on Monday.

Reply With Quote
The following user says Thank You to Murtaugh for this post:

Can you help answer these questions
from other members on futures io?
Google Keyword Search Alerts
Traders Hideout
VWAP - Do you trust it?
Sierra Chart
What are the main Eurobond futures and their respective …
Traders Hideout
Short ES Trade analysis on Bookmap
Emini and Emicro Index
New to Sierra, share your charts and Templates
Sierra Chart
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Why dont people trade 150 ES contracts?
36 thanks
Spoo-nalysis ES e-mini futures S&P 500
32 thanks
Vinny E-Mini & Algobox Review TRADE ROOM
27 thanks
Daytrading.Coach Review
21 thanks
How to avoid wiping out the accounts?
12 thanks
 
(login for full post details)
  #12 (permalink)
Murtaugh
Newark, Delaware, United States of America
 
 
Posts: 10 since Oct 2021
Thanks: 7 given, 10 received

I hope everyone enjoyed their weekend and had a productive time trading last week and yesterday.

I made two trades yesterday with MES, both positive. Times are in Eastern Standard Time.

1. Shorted 4690.50 at 3:30:07, stopped at 4686.50 at 3:31:06 for 16 ticks.
2. Shorted 4685 at 4:08:02, stopped early at 4682.50 at 4:10:05 for 10 ticks. Daily profit target hit.

I felt calm about them for the most part. I did think about breaking my rule to not interfere on, an the first trade, as I got a little anxious about taking profit, but ultimately didn't act on the impulse, and it was stopped a few seconds later. RSI was very low when entered, 23, I think, but it felt right.

I wasn't entirely confident about the second trade, I wrote in my journal yesterday that it was semi-accidental. I didn't feel or se anything that told me to exit immediately, but there was a bit more anxiety than the first trade. Nothing close enough to make me exit, though. RSI was around 50, and I thought the price might break down again, which it did. I just checked, and the rally failed at the 55 day EMA.

In terms of following my rules, this was my best day so far, in my opinion. I disabled the visibility of the daily profit and loss tracker on Tradovate over the weekend, taking the advice from one of the threads on trading psychology from here, I think.

Anyway, good luck and best wishes to those trading today, and through the rest of the week.

I've noticed I'm more positive after a positive day than a negative one, my salutations are an example of that. Greetings and farewells are something I should say consistently. I should also continue developing on discipline and emotional stability regarding trading, I can't let myself be caught in a trap and let feelings of failure to affect how I trade the next day. I've made progress, but I still have a long way to go. It's certainly achievable, and I know I'll be able to do it, but it will take time.

I should also start posting these journals on each trading day once I'm finished, rather than waiting a day or two. I need to catch up on logging my trades on the Excel spreadsheet I'm using, too.

Are there any observations, positive or negative, anyone has observed that they would be willing to share? I may be missing something, and I value the input of the folks here, who have ore experience than I do.

Reply With Quote
 
(login for full post details)
  #13 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 7,029 since Jan 2013
Thanks: 51,585 given, 23,372 received



Murtaugh View Post
I should also start posting these journals on each trading day once I'm finished, rather than waiting a day or two. I need to catch up on logging my trades on the Excel spreadsheet I'm using, too.

Are there any observations, positive or negative, anyone has observed that they would be willing to share? I may be missing something, and I value the input of the folks here, who have ore experience than I do.

Posting in a journal will not make you a success by itself, but it can help. Use it to see what you did that you shouldn't have, according to your own rules, or didn't do that you should have.

The question is always, what were you supposed to do, according to your rules/principles/methods/beliefs/whatever-you-use, and what did you actually do? You need to know that before you worry about whether the rules are the right ones.

If you have rules (you should) and if you follow them and they don't work, that's good information. Now figure out what needs to change in the rules.

If you have rules (you should) and if you don't follow them, you've found the first thing to change: start to follow them. You won't know if the rules are any good if you don't follow them.

If you don't have rules, then there you go: change that first and get some. They can be simple, and should be. Don't worry, they won't be perfect, and neither will your observance of them. But they will help by giving you something to measure things by, and that can be a good start. Having something definite to make decisions by can also help you to keep yourself on an even mental and emotional keel, and will give you something concrete to work on.

It's a slow process. I hope this will help you.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Reply With Quote
The following user says Thank You to bobwest for this post:
 
(login for full post details)
  #14 (permalink)
Murtaugh
Newark, Delaware, United States of America
 
 
Posts: 10 since Oct 2021
Thanks: 7 given, 10 received

Hello folks. I know it's been quite a while, I've had a lot of work to do, so I haven't traded the last few trading days to avoid being distracted after what happened last Wednesday.

I did make some trades last week. On Wednesday, the 17th, I made 4 trades. All of them were losers.

Went short at 4686 with one contract of MES. Did have a vibe. Walked to class, and the contract went as far as 14 ticks in profit before rebounding. I had a feeling about reversing my position when it was negative, but did not do so. Stop loss triggered at 4688.00. Went short at 4686.50. Exited at 4688.25 for a loss. Started making trades based on FOMO, and let anxiety get the best of me. Went long at 4686.50 at around 7:19, let emotions and uncertainly get the best of me, reversed at 4686.00 49 seconds later for a loss, then exited the short contract for a loss 1 minute and 6 seconds later at 4688.25 for a loss.

I was pretty distracted that day, and my heart wasn't really isn't, which is something to avoid in the future. I broke four of my rules, not trading distracted, avoiding FOMO, not letting anxiety dictate my actions, and trusting myself enough to listen to the impulses and vibes I can feel from the charts.

On Thursday, the 18th, I went short at 4671.25, but didnít listen to my feelings or chart indications to reverse. Out at 4673.25.

On Friday the 19th, I went long at 4697.25. Held for nearly 10 minutes. Just sat on my hands and let the position play out. Profit stopped at 4701.25.

Despite the losses during the middle of the week, last week was the first week I finished with both a positive expectancy and a profit. The gain of my average winning position during the week was slightly larger than double the loss of my average losing position. The profit wasn't much, but is does show that I'm making progress. I'm less concerned about profit and more about managing my emotions and obtaining a positive expectancy at the moment, and I'm slowing improving my expectancy on the year.

I'm looking forward to any input or feedback any of you may have. I appreciate all of the help and advice the community has given me over the past few weeks. My best wishes to you all.

Reply With Quote


futures io Trading Community Trading Journals > Murtaugh's Trading Journal


Last Updated on November 24, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts