Best Thread The 3 Duck's Trading System

The 3 Drunks Trading System

15th%20March%202013.png
 
stefitch said:
If the price was below all 60ma on all 3 times frames then it looks like a good trade to me. What were your reservations?

Steve
Click to expand...

It was below the 60ma and the price broke below the low on m5....but I am new to this so not sure if it was a valid entry
 
msetai said:
It was below the 60ma and the price broke below the low on m5....but I am new to this so not sure if it was a valid entry
Click to expand...

Its a short break, you need to consider the strength of the resistance, how many times was the resistance tested, and I'd want to see a solid break then look for the next resistanceand work out the pip difference. Then look at the stop placement, work out your r:r and take decide if the trade fits you trade plan (you do have a trade plan right? If not plan one, demo trade, adjust till you have enough data to crunch your avg w:l /p/l see if your happy and then expect to take about a third of the profit in your pocket... Unforeseen costs 1/3, tax (hey this is gonna be a lucrative ft business right? And a 1/3 gross..) but yeah it was a good "entry" if it fits your trade management style, plan and above all risk... To me the 3D system is easy. All ma's down, sell all ma's up buy, the issue is trade management, you study this in demo and then learn it in a live account (imho). A bit like boxing train in the gym ans then get your a**se wiped in the ring, but if you sort your stamina, defence and discipline in the gym your are going to last longer and migh land some sloppy jabs but keep in there learn faster and stay longer you'll soon be dancing to the rocky tune hugging Apollo!

Peace and pips
 
Last edited:
The 3 Ducks Trading System

TheBramble

Sad News
Got an email earlier today from Tony aka TheBramble account saying "I’m sorry to bring you sad news but Tony is is no longer with us."

I know his status on here is banned but I always liked Tony and am saddened to hear this news.


Andy
Captain Currency :(
 
Re: The 3 Ducks Trading System

Haha, the ducks quacked today mate for sure, I got in on the break with a fib retracement and added to those ducks as they flew through the psycho zeros :) moving to break even then taking the tp's of on three positions has the last one breached 2pips I took 50+ pips in to nyopen by which time I just had a 12 pip trailing stop (not a massive fan of trailing stops but once a trade has breached my profit target ill sometimes trail instead of locking in profits with a stop loss, I got back on with a split trade one the nyopen started trending back on the 5min, and I trailed one and moved my sl to BE on the other half of the trade, picked up about 20pips on the first half and the secound hit my BE stop about 10pm ish. Good ducks today :) (much needed too! After yesterday's messy entries I did, mind nothing like a a** kicking and a sheepish wound licking session to focus to mind! Good hunting + peace and pips :)
 
Found this great line back on age 203 by member Fayalac:

- it does not matter what i think might happen, what matters is what is happening.

(y)

Dan
 
Captain,

thanks for the excellent thread.
I've recently started using a variant of your system for positional trades.
I use weekly charts, supported by daily and monthly charts.

thanks again.
 
Guys is it possible to turn this 3 ducks trading system to an automated trading software or do you think manual is the only way to trade it?
 
jeremiahkn said:
Guys is it possible to turn this 3 ducks trading system to an automated trading software or do you think manual is the only way to trade it?
Click to expand...

I use a similar system to the 3 Ducks and automate through a Metatrader EA. Although I only use the automation for opening, initial stop loss and moving to break-even. I exit manually.

Since automating I have found it really good for working back to analyse strategy performance but I would say that automation isn't for everyone and will really depend on what your entry parameters are.

Cheers.
 
jeremiahkn said:
Guys is it possible to turn this 3 ducks trading system to an automated trading software or do you think manual is the only way to trade it?
Click to expand...

If you got the FREE E-Book you will see that the author does not recommend auto trading. He recommends you use a hands on intelligent thinking approach

Good luck with your studies:)

"Great Approach But Not To Be Automated
The 3 Ducks Trading System is a discretionary approach and not a mechanical
system; it is a bit like the SatNav in a car.
The SatNav in my car tells me which direction to drive in, it does not control or drive
the car for me, I do that bit.
The 3 Ducks Trading System is a sound logical approach to help you trade in the
direction of trends, observe price action and buy and sell at levels that confirm
strength.
The trader always needs to us their discretion and judgment, you should never
attempt to automate this approach and just the same way as you would never let
your SatNav drive your car for you."
 
neil said:
If you got the FREE E-Book you will see that the author does not recommend auto trading. He recommends you use a hands on intelligent thinking approach

Good luck with your studies:)

"Great Approach But Not To Be Automated
The 3 Ducks Trading System is a discretionary approach and not a mechanical
system; it is a bit like the SatNav in a car.
The SatNav in my car tells me which direction to drive in, it does not control or drive
the car for me, I do that bit.
The 3 Ducks Trading System is a sound logical approach to help you trade in the
direction of trends, observe price action and buy and sell at levels that confirm
strength.
The trader always needs to us their discretion and judgment, you should never
attempt to automate this approach and just the same way as you would never let
your SatNav drive your car for you."
Click to expand...

Slightly off topic but if the system was to be automated would you be able to sell it?...could you sell it via the MQL4 community and do you know what Metaquotes/ broker takes out of the pot?
 
The Pear said:
Slightly off topic but if the system was to be automated would you be able to sell it?...could you sell it via the MQL4 community and do you know what Metaquotes/ broker takes out of the pot?
Click to expand...

Well off topic.
If you want to discuss automation could you start your own thread so that those of us remaining can keep on track with the Captains original system.
 
You must log in or register to reply here.

Similar threads

P
Anyone still trading the 3 Ducks system?
Replies
1
Views
2K
timsk
timsk
M
Metatrader EA live trading for 3 duck system?
2
Replies
28
Views
15K
NVP
NVP
R
3 Duck's system confusion (yeah, I know...)
Replies
11
Views
3K
RealSavoy
R
Y
Other fx systems
21 22 23
Replies
447
Views
59K
Denman
Denman
CavaliereVerde
[DARWIN] TTD by Captain Currency
9 10 11
Replies
210
Views
34K
Captain Currency
Captain Currency
Top