Best Thread The 3 Duck's Trading System

[Nigel-P]

Good blog post for anyone thinking of taking their trading a bit more seriously - The Greatest Myth About Trading. | bclund

 

[Captain Currency]

Good Trading To You For The Week Ahead.

News/Pairs that Duck Hunters should be mindful of this week are;
Rate statements out for these pairs this week.

AUD pairs on Tue
EUR pairs on Wed
GBP pairs on Thur

Also mind yourself with all pairs this Friday because the Non-Farm Payrolls will be released.

This short video will help you.

3 Ducks - When Not to Take a Trade - YouTube


Andy

 

[rsh01]

Good Trading To You For The Week Ahead.
Andy

hi CC,

I have recently received your 3 ducks free pdf, many thanks. I do have a query - i hope you do not mind me asking.

Does the longer term trend need to be fairly well established before jumping in? e.g. for H4 if your looking for a short on a downtrend wld you want the H4 sma to be sloping downwards or does it not matter? Obviously if its only just crossed below price on the H4 after a long uptrend then you may be entering in at the start of a trend reversal to the downside, & thus cld look to have a greater TP. On the flipside as its not a well established down trend & may just be a rather large pull back on an uptrend, meaning you may need to get out early.

Is this a consideration when looking for setups? Would you classify this as not a great setup & adjust target profits accordingly?
Many thanks,
r

 

[Captain Currency]

hi CC,

Does the longer term trend need to be fairly well established before jumping in? r

I'd say follow the 3 steps in the 3 Ducks e-book and you won't be going too far wrong Buddy

Andy

 

[bhindaas]

Entered a long USDCAD.
4H crossing upwards 60SMA
1H is above 60SMA
5M is above 60 SMA.

 

[bhindaas]

Entered a long USDCAD.
4H crossing upwards 60SMA
1H is above 60SMA
5M is above 60 SMA.

Closed for a 20pip profit.

 

[Nigel-P]

Hi Everyone, just posting my views on the pair I'm watching this week, the Eur.Usd.

It had a very strong move downward last week which has pulled the 4 hr moving average over to the bear side again and it is sloping nicely downwards now. The 1 hour chart is consolidating before what is hopefully another move down. I actually wouldn't mind if the price moved a little higher before moving down again but we can only trade what the market gives us :smart:

I've posted a 4 hr and a 1 hr chart with some notes on them. I've also posted a zoomed out 4 hr chart that might be of use to those of us who like to trade the 3 Ducks on a slightly longer timeframe rather than just intraday.

Good trading

Nigel

 

[Captain Currency]

Hello Duck Hunters,

Thought for Today
“Anybody can look at yesterdays chart and say why a currency pair moved; but to make money the currency pair has to be traded today” Captain Currency

Profitable Pairs (11th - 13th April 2012)
4 strong currency pairs that I think could offer us some profitable 3 Ducks trades in the coming days are;

Aud.Usd – current spot price is 1.0310, the Aussie Dollar has been under selling pressure over the last 5 weeks and I would be looking for selling opportunities when my 3 Ducks line up. A break back below the 1.0270 area is needed first.

Eur.Gbp – current spot price is 0.8260, the Pound has been stronger than the Euro since last week and I would be looking for selling opportunities when my 3 Ducks line up.

Eur.Usd – current spot price is 1.3140, and I would be looking for selling opportunities when my 3 Ducks line up. All bets would be off the table on a move back above the 1.3240 area in the coming days.

Usd.Jpy – watch short video and I'le show you why!

http://www.youtube.com/watch?v=A8GLY4K_GjA

Hope this help you,

Andy




These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

 

[Nigel-P]

Just a quick update on the Eur.Usd chart.

If price gets down to the lower blue line and the buyers around there start to get scared, they might bail out, which would mean we could see price drop quite quickly. If the sellers lose their bottle around that area price could move back up quickly too. Because of the First Duck, the 4 hr trend, is bearish, we are trading from the perspective that that the bears are more likely to win the battle. Let's see what happens.

Good trading

Nigel

 

[Nigel-P]

Hi, Anyone who might be following the the Eur.Usd analysis - patience is the name of the game now. The first 4hr duck is still bearish so we are still in the hunt for a short trade. The longer price stays confined bouncing around a small area, like it has been this morning, the bigger the movement usually is when it comes. It's like shaking a bottle of coke before opening it. Longer you shake it the bigger the explosion.

Having said that, with the movement to the upside again this morning we are quite close now to the 4 hr moving average itself. We must make sure that the 4 hr sma stays pointing to the downside or else the set up can go stale and we lose our edge. Therefore I think we need to see a down move either this afternoon or Friday morning (GMT) or we might have to take a step back and re-evaluate. Friday afternoons can often be virtually impossible to trade due to zero liquidity nowadays so time may indeed get the better of us this week. We'll just have to remain patient and see what happens.

The level I'm watching now if price gets there is the 1.3100 area, most recent low on the 1 hr chart.

Good trading

Nigel

 

[Nigel-P]

Seems as though there is a lot more talk today about long term low interest rates and QE which seems to be keeping Eur.Usd well bid. It doesn't show much sign of getting to our entry point anytime soon.

I was flicking around the charts and I came across Eur.Cad which looks very interesting, coincidentally at the exact same level as Eur.Usd, i.e. 1.3100.

Chart below - looks like good risk v reward potential. Trade Asia at your own risk though!

Good trading

Nigel

 

[Nigel-P]

Hi Everyone

An update on the Eur.Cad/Eur.Usd -

I mentioned 1.3100 last night and Eur.Cad was testing it when I got up this morning. I had a sloppy initial entry, losing 7 pips. I have posted somewhere here in this thread how I manage my entries. My second entry has moved nicely into profit, around 45 pips now. I am tightening my stop to nearly breakeven just above 1.3100.

Eur.Usd which has been teasing me all week is moving down today but I'm not tempted. Trading on a Friday afternoon rarely turns out well for me so I usually just leave it. I'm turning off the screen for the weekend, fresh week starts on Monday.

Have a good break

Nigel

 

[GrayTrader]

Hi, Shot in the dark here. I trade CFD's and would love a 'stocks' version of three ducks.
a) Is there one?
b) I'm willing to pay for one.

Anything/one out there?!

 

[Captain Currency]

Hello Duck Hunters,

Thought for Today
How well you execute your system is important because;
1. Good System + Bad Execution = Negative Results.
2. Bad System + Good Execution = Negative Results.
3. Good System + Good Execution = Positive Results.

3 Ducks Trade In Coming Days
A strong currency pair that I think could offer us some profitable 3 Ducks trades in the coming days is;
Eur.Gbp

Forex | 3 Ducks Trading System | +44 Pips - YouTube


Hope this help you,
Andy



These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

 

[Captain Currency]

Hi, Shot in the dark here. I trade CFD's and would love a 'stocks' version of three ducks.

A question I get a lot:
"Andy do your 3 ducks work in other markets other than fx?”

Answer
Yes of course. The principal is the same no matter what market you’re looking at. You would need to know how that market behaves i.e. potential movements etc.

Hope that helps you Buddy,

Andy

 

[NVP]

hey all

i'm a big fan of the 3 ducks and just wanted to emphasise again (especially to newbies) why this is a great system to follow and learn as its got it all

I am a big follower of forex strengthmeters and just wanted to show just how powerful andys approach is when you are watching the bigger picture like I chose to do.....

heres a strengthmeter strapped on to this weeks action using Andy's 60ma 4Hr TF
the X's are individual currencies

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1079.html#post1835134

you all know how the 3 ducks works based on a currency being stronger or weaker than another on 3 TF's.... so you can see how dominant the (Red) GBP was this week and how andy was calling buys on that when the 3 ducks lined up

thats why I am a big fan

Respect
N

 

[Nigel-P]

That looks very interesting NVP, will be taking a gander at it this week

Good trading

Nigel

 

[dexters]

Received eBook today. Many thanks Andy. Will read with interest

Si

 

[Captain Currency]

Received eBook today. Many thanks Andy. Will read with interest

Si

You are welcome dude.

Andy

 

[Captain Currency]

Greetings New 'n' Old Duck Hunters,

A Quack Question
In what year did you first download The 3 Ducks e-Book?

The 3 Ducks e-Book was published in 2007.

3 Ducks e-Book | Why I Wrote It | Captain Currency - YouTube


Andy