Best Thread The 3 Duck's Trading System

[neil]

Without causing a **** storm.
By lining up the 3 ducks you have only identified a trend that occurred in the past. Whether it continues or not is a 50/50 bet.

That probably sums up trading
(not included managing trades)

 

[Captain Currency]

I was really pleased to see the thread was still running after so long.

That's down to the good auld fogies who come out to play here, answer a few questions and sprinkle their trading wisdom on the thread, I owe they all a drink or two!

Andy,
Captain Currency.

 

[Captain Currency]

Without causing a **** storm. By lining up the 3 ducks you have only identified a trend that occurred in the past. Whether it continues or not is a 50/50 bet

Naw you won’t cause a 4 star storm D70, but you might get a few opinions raining down and that can only be a good thing Buddy.

Maybe its current sentiment rather than past trends the Ducks are helping traders identify.

I'd agree with you to a point, I ain’t a friend of those daily, weekly or monthly trends. Reason is the weekly, monthly trend might have been down in the past but current sentiment could be bullish, fairly 50/50ish situation alright and I’d let someone else take that bet.

I’d much prefer to befriend and bet on the 4hr trend (1st Duck). I’d call the 4hr trend the current sentiment for that pair. As you know Gbp.Usd 4 hr trend is up, let’s call it what it is: sentiment is currently bullish for the Pound and/or bearish for the US Dollar.

Is that current bullish sentiment 50/50? I wouldn't say it is but no doubt what the current price is doing or not doing (2nd Duck) is influencing that sentiment. If the bulls are pushing the current price above levels of resistance for technical or fundamental reasons, I’d say its better than a 50/50 bet at that point (3rd Duck) with a 1:1 rvr.

If you disagree will all that I won't be offended, I still think you're a cool dude!

Andy,
Captain Currency.


PS A bit off topic I know but just for the other traders: Nothing wrong with having a 1:1 risk v reward ratio but I’d think you’ll be leaving some of your potential profits out there.

 

[nw24x]

For anyone reading this thread, never trade against the 3 ducks.
Every time I ignored them, I lost money. Just today, I was short AUDUSD @ 0.9599,
picking top and looking for retracement, but was traded against the 3 ducks. Price went higher and hit my stop @ .9640. Learn from my mistake.

Happy pips hunting!

 

[Babyblush]

Thanks for sharing this strategy would have been good if you would explain in your words out of your experience anyways will check it right away.

 

[NVP]

hey all - just popped in

to newbies who visit this thread ..........the 3 ducks is a very very effective and simple approachto trading forex and the Cap has kindly placed plenty of free information in the trading cosmos for those that look hard enough......

N

 

[Captain Currency]

hey all - just popped in

to newbies who visit this thread ..........the 3 ducks is a very very effective and simple approachto trading forex and the Cap has kindly placed plenty of free information in the trading cosmos for those that look hard enough......

N

Thanks Neil, I'm humbled but next time you pop in can you bring some Fig Rolls and a cuppa Rosie Lee ...

Andy,
Captain Currency.

 

[bansir]

Hi Folks,
Had a bit o' success today with aud/usd.
I had set the thing up using pending orders but closed manually in the end ; I was wary of what effect " US:Housing Starts" and " US:Consumer Price Index" news may have.
Made just about the same return as planned, took 39.3 pips instead of 40.

 

[mike.]

Was that just a re tracement bansir ? Did the price move down to your exit point later or rise ? ( I have no access to my charts at the mo )

 

[bansir]

Was that just a re tracement bansir ? Did the price move down to your exit point later or rise ? ( I have no access to my charts at the mo )

Hi Mike,
Thanks for your reply.
I'm not sure I understand your question correctly.

On the 5min chart:
I got into the trade at the intersection of the left hand vertical dotted line and the entry level. I actually entered manually, not using a pending order but just waited for a nice retest of the s/r (blue line). Similarly I got out at the intersection of the right hand vertical line and the exit level less a fraction of a pip. The whole move was from "A" to "B" (see attachment).

Hope this clarifies things:?:
Bansir

 

[Captain Currency]

Had a bit o' success today with aud/usd.

Made just about the same return as planned, took 39.3 pips instead of 40.

Couldn't grumble with 39.4 pip winner on a midweek trade .... Good effort Bansir.

Andy,
Captain Currency.

 

[bansir]

Couldn't grumble with 39.4 pip winner on a midweek trade .... Good effort Bansir.

Andy,
Captain Currency.

Thanks CC,
I've settled down a bit now; last week I was jumping into some trades with less than ideal set-up conditions.
As a result to date, I've logged more losing trades than winning trades.
However I have kept the losses under control by using a fixed 20 pip stop loss.
My average profit trade is over 3x my average loss trade.

Just looking now to develop the record keeping; it's a little ad-hoc at the moment.

Best Regards,
Neil

 

[Captain Currency]

I've settled down a bit now; last week I was jumping into some trades with
less than ideal set-up conditions.

Like a good Duck Hunter, settling down before you take aim is always a good idea.

If you're Trigger Happy, shooting at everything that moves ... you'll waste a lot of ammo!

Good Hunting to you for the week ahead,

Andy,
Captain Currency.

 

[rendesr]

Wow finally finished reading this entire thread! All 2533 of these posts certainly made for some very interesting reading.

Big thankyou to Andy and the threads usual contributers for posting many many charts, labelled with your thinking and strategy - it certainly helped to see real life examples of the 3D's in action!

Looks like EURUSD have all the ducks lined up, waiting for the break of the lows (I've got 1.3056 scribbled down here).. Gonna paper trade this system for a week or so more to get a good feel for the way it works.

One thing I'm slightly hesitant on this one, it's still early doors in London - might wait for a couple more hours until 0730 to see how we open.

 

[rendesr]

Also seeing bearish signals on the EURGBP chart, I looked closely at this one yesterday.

I understand the Three Ducks must be aligned before putting on a trade.

Do people then take off the trade (i.e. it failed) if say the price crosses through the 5 min SMA line?

Here are my 3 charts for EURGBP, looks like a sell if we break through 0.8469 level.

(note the 0.84905 on the previous chart was where I thought the sell would have been yesterday)

Kindest Regards,
Steve

 

[Merchster]

Hi there. I am very interested in your trading system. Hopefully this isn't a stupid question - does the same principal apply to short trades? If the ducks are lined up BELOW the line is the entry signal to go short?

Thank you, Simon.

 

[NVP]

Hi there. I am very interested in your trading system. Hopefully this isn't a stupid question - does the same principal apply to short trades? If the ducks are lined up BELOW the line is the entry signal to go short?

Thank you, Simon.

yep ...........the 3 ducks do it going up and down !

 

[be-positive]

yep ...........the 3 ducks do it going up and down !

SEX ??? :cheesy:

 

[NVP]

SEX ??? :cheesy:

nope i'm ok thanks B........thanks for the offer though..... .

 

[bansir]

Hi Folks,
Looks like I'm finishing up with a small net loss for June (Demo).
Pulled some back today with a positive result on usd/cad.

Although I have missed my 4% target, I'm quite pleased to have contained my losses. I didn't do myself any favours by overtrading in the first couple of weeks.
Looking to improve in July with better quality set-ups.

Here's today's trade.

Best Regards,
Neil