Cory Mitchell

Are You Giving Yourself Enough Running Room on Trades?

May. 14, 2014

Based on discussions and from seeing the strategies many novice traders are operating off of, there is one thing that stands out. Successful traders are getting out of their trades just as novice traders are getting in. Successful trades look for open spaces where the price can run, and when the price looks like it […]

The Vortex Indicator – A Simple Trend Tool

May. 13, 2014

The Vortex Indicator helps isolate trends, which can aid new traders in determining when a new trend is likely underway. The Indictors is based on a two lines–an uptrend line and a downtrend line. When one crosses above the other it indicates that trend (up or down) has taken over. It is also used to […]

Piling On Evidence Won’t Change Your Trading Odds

May. 09, 2014

Which has a greater chance of happening? A stock going up? A stock going up because hedge funds are buying it in the belief that earnings are going to be much higher than expected? In trading we deal with probabilities, yet humans, even many statisticians who (are supposed to) know this stuff inside and out, […]

2 Types of Risk: Pros Use One, Novices the Other

May. 08, 2014

We typically view risk as how much capital we stand to lose if we lose on a trade. This is our trade risk. I don’t risk more than 1.5% on a trade, typically less than 1%. If you are trading with a $5000 account, and risk 1% that means you can lose $50 on that […]

Recent and Upcoming Trades – May 7

May. 07, 2014

A little more activity in the forex market lately as a number of pairs have broken out of ┬áconsolidations and provided trend trading opportunities. First let’s look at a ┬árecent trade, since it is the same set-up I am watching for in a couple upcoming trades. GBPAUD Last night I took a short in the […]

Patience and Persistence: Trading Allies, or Worst Enemies

May. 06, 2014

Becoming a successful trader will require both patience and persistence. In unsuccessful traders these traits are exhibited, but are focused in the wrong direction. When these traits, which can be learned, are applied in the right way, your odds of becoming a better trader dramatically improve. How Unsuccessful Traders Use Patience and Persistence If struggling, […]

The Anatomy of a Trading Decision

May. 05, 2014

If your desire is to become a consistently profitable trader, trades can’t be made on random impulse, guesses or hunches. Trading is methodical and calculated; part of a process which is repeated again and again. Not a single trade takes place outside this of this process. Below is my process for taking swing trades, which […]

Williams %R Indicator: Overbought and Oversold Trade Signals

May. 02, 2014

Williams %R is an indicator similar to the Stochastic Oscillator, but calculated a bit differently. Developed by Larry Williams the indicator reflects the difference between the high, low and the current price over a look back period. Generally that look back period is 14, which could based on any time frame, such as 1-minute, 5-minute, […]

USDCAD Outlook Based on Recent Trades

The last few days have produced some bigger movements, and whether swing trading or day trading I always prefer to trade in an environment where the price is moving strongly. When price can sustain its direction, it is much easier to make money than when the price is barely moving and grinding back and forth. […]

Using Andrews’ Pitchfork For Market Analysis

May. 01, 2014

For most traders Andrews Pitchfork is a technical analysis tool you may have applied to your chart once or twice, fooled around with it, but couldn’t really understand what it was supposed to do. Well, basically it provides support and resistance levels, and can therefore be used to confirm trends and spot reversals. Andrews’ Pitchfork […]