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Old 30-11-2004, 08:42   #19
TrendlineBreak
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As one of the thousands of "amateurs" who trade from home, I like most people have been through the wringer like you, the advice given by phil is sound, the more studying you do the better.

From my experience I have generally found keeping things simple to work for me.

I have one system I use that has "steadied the ship" as far as profit and loss is concerned, it may help you, at least it will give you something to play with while waiting for your books etc.

I use a 60 min chart GBPUSD

50 EMA to show general direction we are heading.

My one and only signal generator is a CCI 14 going through zero between 5am - 12 midday GMT

When this happens I put a trade on, if you are the wrong side of the 50 EMA obviously it needs watching more carefully.

I also look at the double CCI (i.e CCI 28), if this crosses zero on the same candle it tends to show the start of the bigger moves.

Anyway, I have attached an example of the past week or so, as you can see not all signals work, the ones out side of my timeframe are fairly consistent as well.

If you pull up some charts and scroll through the past few months you can see that you get all the big moves and not too many false ones.

Obviously you need to define your money and trade management depending on if you are happy leaving trades on overnight, or prefer to have everything settled the same day.

Try some charts and see what you think, even if you can pull 20 pips from each signal its a start in the right direction.
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