Cory Mitchell

Simple Trend Reversal Strategy – Downtrend to Uptrend

Jun. 10, 2014

While trading in the middle of a trend is fine, trading near the reversal provides a way to jump in on moves just as momentum is building. This often means a high probability trade because those who were betting on the old trend continuing are forced out of their positions, resulting in a surge in […]

“You May Make $5K, but not a $100K”

Jun. 09, 2014

“You May Make $5K, but not a $100K” A fellow professional trader recently made a comment to a group of novice traders that I found very interesting, and valid. While discussing what traders typically go through their first two or three years trading, he said something to the effect of:  “The method you use may […]

Find Precise Reversal Points at Ignored Areas

Jun. 06, 2014

Technical analysts seem to continue perpetuating a myth that areas where the price spends a lot of time are likely to be important in the future. As someone who trades every single day, on multiple time frames, this doesn’t seem to be the case. In fact, when price comes back to these well tested areas […]

Effective Range Trading Method

Most range trading methods I have read about or seen I am not a fan of. But assuming the range is quite large, there is one method I will use to trade ranges, and this is it. The first step is isolating a range. Contrary to most range trading methods, with this method we can […]

Why Your Trading May Not Be Improving

Maybe you have been trading for a while; you have some great stretches, but also bad ones, and overall you just aren’t making money or improving. In any endeavour, when we don’t do something well we seek out more information. There is lots of free information on the internet, so it seems like a logical […]

Scalping Round Numbers

Jun. 05, 2014

Here is a quick strategy to utilize near round numbers in the forex market (and likely other markets as well) to hopefully extract a profit. A round number occurs every 100 pips. 139.00 and 141.00 are examples of a round number in the EURJPY ; 1.3600 or 1.4100 are examples in the EURUSD. These levels often […]

Always Consider the Opportunity Cost in Trading

Jun. 04, 2014

Opportunity Cost is what you forgo by taking the course of action you chose. Opportunity cost affects traders in multiple ways. For example, if you are spending your days trading and constantly losing, or only making a very small amount, you are giving up the opportunity to make more money doing something else (a job). […]

3 Ways to Use Moving Averages in Your Trading

May. 30, 2014

3 Ways to Use Moving Averages in Your Trading A moving average (MA) is one of the simplest trading tools and can help new traders spot trends and potential reversals. Here’s an introduction to the moving average, as well as three ways to use it. Moving Averages The Simple Moving Average (SMA) is the most […]

Current and Upcoming Forex Trades – May 29

May. 29, 2014

Lots of trades on the radar right now –here is a sampling of a few I am already in, and some others I am waiting for. GBPNZD The GBPNZD is bucking up against a strong resistance level and providing potential short entry, especially with the false upside breakout earlier today. Watch the spread on this […]

Getting a Job as a Day Trader

Getting a Job as a Day Trader Day Trading from home and starting out with a small account isn’t the only option for those that want to day trade…as a career.  While it is a viable one, and I do it now, I didn’t start out that way. In 2005 I had just finished university, […]