QQQ Trade on May 19, 2021 13:05 from tjmiller2001: Tradervue User Stock Trades.

QQQ had been consolidating in a range for roughly 1 hour. I wanted to get short at the top of the range because /NQ had supply above. Since I could have such a tight stop, I entered with a 5:1 RR. I like that I was careful to set my TP level at the closest support instead of just placing it in an area that would give me a 3:1 RR.

I set my stop loss order instead of trying to get filled once a 1m close occurred. I used to get burned on my exits because I would get out at a level far from my actual SL. Now, I set the orders and they take care of keeping my losses small.

Price broke above the consolidation range and stopped me out quickly. I was relieved to be out of the position. I was more emotional than I thought I'd be with such a small position. I think this was a good trade bc I had a small defined RR and there was reasoning behind my entry.

Lesson Learned: Don't confuse a loss with a bad trade. I made a smart trade here and it didn't work out. When I notice my emotions making me frantic while in a position, I should remind myself that I had reasons to enter. That should help me be less afraid of a small loss while in a position.