Best Thread The 3 Duck's Trading System

[Stolentortoise]

Where is it on the 5 min chart? On mine it is above and the 1hr chart it looke like it is heading towards the 60sma.

The 3 ducks aren't lined up but worth keeping an eye on to see if they do.

 

[Alanovic]

Thanks for the reply. Isn price testing that support?
And dont we look for a cross of the 60sma on the 5 mins tf?

 

[Stolentortoise]

Thanks for the reply. Isn price testing that support?
And dont we look for a cross of the 60sma on the 5 mins tf?

I don't know the AUD/USD so all I looked at at the time was the 1 hour duck. It was above the SMA so no going to the 3rd duck.

I am waiting for it to drop below the 9860 level as the 60sma is around that point at the moment, it may have risen a "if" it gets down there. If not then I am off to hunt ducks in other places.

Edit: if I had taken a look at the right pair it might have helped!

 

[kingich]

trades in USDCHF, AUDCAD, EURUSD and a potential short trade for Gold. Long trade haven't been triggered.

 

[kingich]

trades in USDCHF, AUDCAD, EURUSD and a potential short trade for Gold. Long trade haven't been triggered.

woohoo 🙂 counting pips 😀

 

[deebee1]

woohoo 🙂 counting pips 😀

thumbs up

 

[Captain Currency]

Greetings Trend Traders,

A “Yes-Yes” - Keep the wind at your back
Keep your eye on these pairs over the next few days because your 3 Ducks still favor selling

1. Aud.Usd
2. Eur.Usd
3. Eur.Jpy

A “No-No” – Hot air
Usd.Jpy is a “no-no” for me at the moment. Reason is; US Dollar is currently strong and the Japanese Yen is currently strong too. When you put two bullish currencies together you don’t really get a trend because neither currency has a real advantage over the other. What you see a lot of the time if you put two bullish currencies (or even two bearish currencies) together is volatile intraday and daily up-down-up-down movements or no movement at all – flat as a pancake.


Best wishes with your 3 Ducks trading,

Andy

 

[kingich]

The ducks played out nicely for me this time.

 

[kingich]

One duck is flapping with wings! 🙂 we'll see if it will fly

 

[Captain Currency]

Good Morning Earlier Rising Duck Hunters,

Good trading to you for the week ahead.

Gbp.Usd
Your Ducks still favor selling Gbp.Usd when they line up. Price would need to get back below the 1.5670 area first for your 2nd Duck (price confirmation) to line up.

Andy

 

[Lissannde]

I requested the ebook 3 days ago. Any idea how long it takes to get it sent out?
The system seems to have potential and I'm looking forward to testing it.

 

[Captain Currency]

I requested the ebook 3 days ago. Any idea how long it takes to get it sent out?
The system seems to have potential and I'm looking forward to testing it.

You should have it already Buddy.

Just make sure it is not in one of your email folders Buddy.

OR

Just make sure the request was sent to captaincurrency@eircom
and make sure you put e-Book in the subject line.

Hope you enjoy the read when you get it 🙂

Andy

 

[Lissannde]

You should have it already Buddy.

Just make sure it is not in one of your email folders Buddy.

OR

Just make sure the request was sent to captaincurrency@eircom
and make sure you put e-Book in the subject line.

Hope you enjoy the read when you get it 🙂

Andy

Received this morning, thank you. Quick read shows that it was worth the wait. I like the simplicity and common sense approach.
Now on to setting up a few charts before the day job. Then it's monitor and see if I get signals during my normal trading time and do my forward testing for a few weeks.

 

[Captain Currency]

Hello Brilliant Ducks,

Adding To Your Winning Positions
There are potentially a few entry levels or highs on the chart attached and you could be adding a second position to your first winning position. Maybe move your stop-loss to break even on your first (previous) position before adding additional positions. If you can add to some of your winning positions you are reaching the level of “Brilliant Trader”.

Profitable Months
Some of your most profitable months will be when you added to your winners. On your next 3 Ducks trade have a think about where you might be able to add to a winning position.

Gbp.Usd
Over the next few days keep an eye on Gbp.Usd because your Ducks still favor selling this pair when they line up. This pair has had some decent downward movements over the past 4 weeks and there could be some great opportunities for you to add to your winning positions.

Best wishes with your 3 Ducks trading,
Andy

Adding To A Winning Position | 3 Ducks - YouTube




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]

Funny Andy should post about adding to winners, I've been playing around with MT4 for the last few months, exploring precisely this topic. As I've mentioned before, when I am waiting for 3 ducks setups to come along I tend to get bored and sometimes experiment with demo accounts to while away the hours in front of the screen.

I think adding to winners is a great way to improve your profit statistics. There is a golden rule though and that is that you should never open a new trade unless the previous one is in profit. If you succumb to the temptation of adding positions when previous trades are negative you are doing nothing more than averaging down losers and we all know how that eventually turns out. Play with the brokers money, not your own.

There is a screenshot of the product of my boredom below. It's an EA designed simply to add to winners, according to a number of criteria including our trusty 4hr 60 sma. Obviously this is taking things to an extreme (and it's on a demo account) but I hope it shows you the principle. Each red line is a sell order with its stop at breakeven. Green lines are sells with no stops set yet. 86% profit, and counting, with 2.3% max drawdown.

As I have said loads of times in this thread, when the market is paying out you have to take advantage and be aggressive. When the market is not paying out you should play defensive. Adding to winners is doing precisely that. You can turn a 100 pip move into 300 - 400 pips profit, using the same 20 pip stop, if you know what you are doing and are disciplined. The average 3 ducks trend often has a number of places which are valid entries to jump in. Keep the risk the same and stretch out the reward. Maths buffs tell me this isn't possible according to the laws of mathematics but I don't believe them :smart:

There were a lot of tricky market conditions for the first few months of the year and the pips weren't easy to come by. Since the beginning of May the market has been rewarding those of us that stuck around during the tricky periods by paying out handsomely. Take advantage of it while it lasts.

Good trading

Nigel

 

[Stolentortoise]

Nigel, when would you get out of this trade, just move the stop down and let it stop out in profit at some time or just do it manually?

Would you just leave this running or close it before a weekend or just let it see where is gets to?

 

[Nigel-P]

Nigel, when would you get out of this trade, just move the stop down and let it stop out in profit at some time or just do it manually?

Would you just leave this running or close it before a weekend or just let it see where is gets to?

Hi Stolentortoise, I'd probably just wait until it crosses back above the moving average.

I don't trade with this EA on my live account (yet); I am just showing the principle that when a good trend arises, you should milk it as much as you can, subject obviously to your trading rules. We suffer enough during ranging markets, when there's a relentless trend like the recent one, we should make hay while the sun shines.


All the best,

Nigel


P.S. GBPUSD dropped another 180 pips since that screenshot, so there was an extra 5,000 pips approx in the account when I checked this morning, believe it or not. Mental what the principle can do when the snowball gets running down the hill. I would point out too that we have waited all year for a trend like the one we currently are seeing though, the market doesn't always behave like this!

I would add too that adding to winners is not a substitute for good trade entries. If you aren't already profitable and comfortable with normal 3 ducks entries, I would put off adding to winners until you are. It can be a tricky skill to master, and unless you are already comfortable in your trading it could possibly do you more harm than good.

 

[Stolentortoise]

Thanks for that. I managed to grab some of the cable action earlier in the week and went for a quick 20/40 on EUR/JPY at 9670 this morning and that is me done for the week.

I have avoided any USD pairings today due to NFP.

 

[Nigel-P]

Thanks for that. I managed to grab some of the cable action earlier in the week and went for a quick 20/40 on EUR/JPY at 9670 this morning and that is me done for the week.

I have avoided any USD pairings today due to NFP.

Good stuff! The EUR.JPY has been on fire since the end of April - lots of great short opportunities to make pips.

Start of a new month again today everyone, May is over now so let's concentrate on having a positive balance in our accounts come the end of June.

Good trading

Nigel

 

[Stolentortoise]

I have been working per week as I took the 1-1 course with Andy 3 weeks ago.

So far +10%, +4% and +7%.

No doubt I could have done better but I have been trading live since mid April and I have been stuck at home for several weeks and really had too long to look at the charts in the day.