Best Thread The 3 Duck's Trading System

[Nigel-P]

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.

Those are phenomenal results mate, keep it up. All you have to do now is to be sure to keep a cool head when you go through your bad patch (they always come, sooner or later). If you can do that you will be well on your way.

Great to hear of someone seeing good results with the 3 Ducks!

Nigel

 

[NVP]

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.

if you are pretty new to the game ST they are great results.....you probably dont realise how good they are 😉

N

 

[Stolentortoise]

Thanks both of you.

Having read this entire thread a couple of times I know you talk sense.

 

[Stolentortoise]

I will try to show how I used the 3 ducks for my trade on Friday. I wanted a quick trade that would hopefully have been done before the NFP came out.

The EUR/JPY was in a clear downtrend so I was looking for places to sell.

It had dropped to 9674 on the 8.15am 5 minute candle and then retraced. An hour later it was coming back down so I set a pending order for 9670. By doing that it takes me out of the decision to trade, it either got triggered or it didn't.

20 pip s/l and a 40 pip target. An hour later trade was finished.

I took into account that we were already below the lows from mid January 2012, you have to go back as far as late 2000 to find any further price resistance, the institutional resistance and psychological resistance points will still be there of course.

I have no idea where price on this one is going next, next week may be a funny week's trading due to the bank holiday here. Personally I would quite like to see a retracement back up to the 9500 level on this one. That may mean the 3 ducks aren't lined up for a while, fair enough. (just to be clear, if it does retrace up to there, this is not advice to then stick in a sell order).

This is not a normal pair to trade for me but given that I was avoiding the USD on Friday it seemed like a good choice. What got me looking at this pair in particular at that time was that it was above my brokers daily opening price, 3 Ducks is a trend following method, the price didn't want to be up there, it wanted to follow the trend.

Please be aware, I have been trading live since mid April 2012 and I know enough about Forex trading to know that I don't know enough.

I am not looking particulalry at how many pips I make per week, as Andy himself says, a pip is a pip, a dollar is a dollar, my first few weeks I made plenty of pips but lost money overall, that is why I have given the % equity increase from the start of the each week.

 

[kingich]

there are some loosing trades though 🙂

 

[Nigel-P]

there are some loosing trades though 🙂

There are loads of losing trades mate, the figures account for that 🙂

Good trading

Nigel

 

[Stolentortoise]

Yes there are, I started off the second week poorly and was 4% down at one point in time.

 

[Nigel-P]

The losers come along and you just have to work through them. If you are trading with the 4 hour trend at your back it is inevitable that a winner is coming. You just have to make sure that you keep enough of your ammo dry to take advantage of it.

 

[Stolentortoise]

No trades for me so far this week, keeping an eye on what is going on this morning, just waiting to see what the NY open brings.

I am waiting for Cable to retrace to around the 15380/15390, then look at setting a sell order around the 15370 area, depending on where the 60sma is at the time.

 

[tony1979]

Ok, ok....so who here is on Captain Currency's payroll??

 

[NickRosie1]

Hi all,

I'm an independent prop trader who primarily trades equity and after reading this thread, have become very interested in trying to test the 3 ducks method in the equity markets. One thing that I have noticed (with stocks) is that the better 3 ducks setups tend to happen in the afternoon trading session, which I assume has something to do with stocks breaking out of more established intra-day ranges as well as larger (mainly institutional) players pushing prices up/down aggressively in trying to finish their before market close.

One thing that has bugged me, however, is that there tends to be more market "noise" in stocks and thus one gets stopped out of more duck trades than I'd imagine happens in the currency markets. Also, those profits that are able to run end up getting cut short (i.e. not reaching 1.5:1 or 2:1 profit targets) as the market closes before they are able to reach targets!

Has anyone traded the 3 ducks system on equity markets with success? If so, what "refinements" do you make without changing this incredibly robust system?

P.s. Big thanks to Captain Currency and all who have contributed to what I'd safely call one of the most informative threads I've seen.

 

[Captain Currency]

P.s. Big thanks to Captain Currency and all who have contributed to what I'd safely call one of the most informative threads I've seen.

I'm humbled by your comment and by those who contribute too 👍

Andy

 

[Captain Currency]

P.s. Big thanks to Captain Currency and all who have contributed to what I'd safely call one of the most informative threads I've seen.

I'm humbled by your comment and by those who freely contribute too 👍

Andy

 

[Stolentortoise]

My quick grab at Cable earlier was fraught with danger and thus I will end this week -1.5%.

I will excuse myself that trade, first week back at work for 6 weeks so not really had a good look at the charts this week.

Over the weekend I will sort out my potential trades and target areas for next week. This inculdes checking what the daily trend is and then seeing if I can line up 3 ducks trades with that.

I take no credit for this, full credit to ICT over at babypips, one good pointer is that the high or low of the week is very likely (just go back through the charts and look) to be formed by the end of trading on a Tuesday.

 

[kingich]

Hi mates,

potential duck trades I've been looking

 

[kingich]

Trades I've been taken last week.

wish you lots of pips

 

[kingich]

Last week trades I've exited this week with +200 on NZD/USD and +120 on NZD/CAD.

Entered EUR/GBP short, was +50 pips and exit on -30 as it reversed.

Gold would be a good trade but I haven't catched it manually and haven't put in the order.

Currently having AUD/CAD with floating P/L of + 30 pips, GBP/JPY with -85, and GBP/CAD with currently at break even.

Good luck with trading!

P.S. Explanation, if my charts don't look like having anything to do with 3 ducks. I'd like to see everything on 1 chart and not switch over so on 1h chart I'm holding 60SMA and 240SMA (equivalent of 60SMA of 4h chart). Monthly pivots are just for exploration purposes, not really giving much emphasis on them).

 

[Captain Currency]

Good trading to you all for the week ahead.

Ducks Hunt
Your Ducks favor buying the Eur.Usd when they line up but do you think the Euro is out of jail yet?

Don’t forget this Wednesday there is an Interest Rate Statement out of the USA - Federal Open Market Committee (FOMC).

Andy

 

[kingich]

Hi traders,

not much productive week from my side. I've had one trade went + 50 and ended up on BE (short USD/CHF in the beginning of the week). Have been busy at work and haven't traded much, but now when market settled down a bit after FOMC and Greek elections I've entered, EUR/USD short, GBP/AUD long and USD/CAD long. Hope you had a better week.

 

[Brodwyn]

Hello there. This is my first post here.

I've very recently received the ebook and was blown away with it's simplicity yet POTENTial effectiveness to trade the market. I believe the Irish have given the world the best whiskies and now this! 🙂 Thank you Captain Currency.

I've attempted to incorporate it with my current fib techniques for targets, having hit a bit of a rut recently (I'm a relatively new trader, so still exploring methods that give me the rhythm I seek), and besides having a favourable hit rate "off the bat", I felt a confidence seeping back into my trading that has not been there for a while (not entirely biased by the wins since there has been some losses as well).

Anyways, I want to explore becoming a purist WRT the technique because of it's simplicity -- it's just the SMAs and interpreting what story the recent price movement on the 3 TFs are telling. If one can become as good as they get just with those tools, why not!

I've completed reading this thread from the start and the quality of some of the contributors here is the best I've read from all the sites this technique has a following. I'm hoping to engage on my trade ideas here and get feedback towards my journey of mastery. I will be considering the 1-on-1 course as well at some stage that has been recommended by so many.

Without further ado, let's trade.