FUBO Trade on Feb 8, 2021 09:52 from tjmiller2001: Tradervue User Stock Trades.

Really interesting chart on the 1m.

Stock opened lower than yesterdays close. Began making higher lows and lower highs on the 1m, forming a perfect symmetrical triangle.

I got in long with a 3:1 RR, expecting a pop over VWAP would squeeze out shorts. I felt confident about this. If this was a long setup, my entry was great, right at the trendline.

My level broke and it dropped fast. I struggled with my exit. I thought my thesis had been proved wrong, but I had been faked out recently. So instead of exiting as soon as price hit my stop, I decided to wait for a 1m close under that level. Price kept falling, and I eventually got out.

I remember being so tense about wanting to exit but convincing myself to stay. I struggle with my exits on losses, do I wait for a 1m candle to close under my level? Or exit as soon as price is under? I've been burned both ways.

I'm very long-biased. This was a short setup. It was down since yesterday, so ideally I'd look for follow-through of that trend today. Betting with the trend is easier than timing reversals at this point in my career.

Lesson Learned: Don't be so long-biased that you forget to see the short thesis. Before entering long, think, "Why would I enter short here? Would a short make any sense and why?"