Cut loss when you are losing! lost $20
E-min NASDAQ 100 opened and started to move down towards the Moving averages, normally we would expect a rebound when price hits the moving averages since we are still in an uptrend environment, albeit a gentle one. Indeed price did bounce up as shown in the circle ( refer to figure). This was my entry point. The trade lasted for around half an hour, with my maximum paper profit being $30 and maximum paper loss of $40. At 10:21, I decided that price is not going anyway judging from the movements of the 5 minute candlestick charts. It is most probably going to be a ranging market today and I exited my position with a loss of $20.