Learn to cut loss while you can => -$30
5 Minute Candlestick Chart
Hi,
The market opened today with a 6 point gap down. It hit my longest Moving average ( blue) and bounce up slightly, stochastics and MACD were also showing a slight upturn. I decided to enter 1 contract to test the market. However, I am not really confident of this trade, but I decided to make a bet anyway, since the my risk is minimal as I placed my stop loss at 1681.5. If you look at the 15 minutes chart, Nasdaq 100 is not really trending upwards, the market is almost flat. This is the main reason why I am abit uneasy about this trade.
Well, price moved slowly and the market was ranging, my hunch proved to be right and I shifted my stop loss up to 1684 and cut loss at $30. Well, you have to be able to roughly feel the market, feel how it moves and observe the price action.
15 Minutes Candlestick Chart
