Best Thread The 3 Duck's Trading System
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bansir
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Thanks, Neil.Keep up the good work Bansir
Think I'm gradually getting back in the groove with 3D.
Best Regards,
Bansir
Hey Mate, a quick question for you. Are you targeting 4% per month?
Isn't that a really low figure?
Looking back at this whole thread, and reading Andy's posts and eBook, one way of managing money is the 2% rule, i.e. each trade your max stop-loss would be 2 percent (not saying you're doing that, but just to quantify it with some rules people are actually working with). Assuming you're targeting 2:1 risk reward, then that's your 4 percent made on just a single right trade?
Hello all, I am very glad to be back at the 3 ducks post. I love the 3 ducks trend following strategy,
I would like to make a profit on FOREX of 4% (of bank) each month...that would be 48 % per year ( even without consolidating)...among the best in the world...!!!
If you made 1 % per month you would be doing better than most..3 ducks is a most meritable option for your trading lessons and experience.
Thanks, S....
Captain Currency
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Re: The 3 Ducks Trading System
How long did that take you Rendesr?
Fair Play to you Bansir, you got the attitudes and actions of a good trader.
Personal Performance v Numerical Performance
I think you’re getting this but at the end of each month focus more on your personal progress than your numerical performance as the second is the result of the first.
Most newbies fall in to the trap and focus on profits. If your focus is solely on profits or short term results you’ll get frustrated in this biz.
Progress is more important than performance at the start of any new venture.
Andy,
Captain Currency.
How long did that take you Rendesr?
Fair Play to you Bansir, you got the attitudes and actions of a good trader.
Personal Performance v Numerical Performance
I think you’re getting this but at the end of each month focus more on your personal progress than your numerical performance as the second is the result of the first.
Most newbies fall in to the trap and focus on profits. If your focus is solely on profits or short term results you’ll get frustrated in this biz.
Progress is more important than performance at the start of any new venture.
Andy,
Captain Currency.
Re: The 3 Ducks Trading System
Basically 4 solid days, although I was looking at charts while going through it!
One thing that stood out was your consistent approach to the 3 ducks system. Never changing it, tweaking it - nor adding indicators etc - very refreshing.
Also interesting to see members actively posting for a 6 month period, then stopping and new contributors posting for 6 months etc!
Basically 4 solid days, although I was looking at charts while going through it!
One thing that stood out was your consistent approach to the 3 ducks system. Never changing it, tweaking it - nor adding indicators etc - very refreshing.
Also interesting to see members actively posting for a 6 month period, then stopping and new contributors posting for 6 months etc!
Ingot54
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Re: The 3 Ducks Trading System
Retired, got bored, moved on to other strategies etc.
Take ShadowNinja, posted pretty much every 3 or 4 posts, usually rubbish and he wanted to change the 3 ducks to the 4 ducks - he lasted about a year before he stopped posting.
Andy any views you have would be appreciated, not seen one of your mkt updates for a long while
Retired, got bored, moved on to other strategies etc.
Take ShadowNinja, posted pretty much every 3 or 4 posts, usually rubbish and he wanted to change the 3 ducks to the 4 ducks - he lasted about a year before he stopped posting.
Andy any views you have would be appreciated, not seen one of your mkt updates for a long while
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mike.
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just entered a trade on the eur/yen, I missed the entry point at about 10.10 am where 5 min duck broke it's last high, So decided to enter on the pullback to its temporary support at 129.21 which it hit about 11.10am, Im hoping it will break through its temporary Res at 129.40 , S/L placed -35 pips on a 1:1 R/R.
jungles
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neil
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Re: The 3 Ducks Trading System
You left out the people who became proficient at trading this approach and simply stopped posting because there was nothing further to add.And it is in the nature of trading that people look at other approaches albeit sticking to the one currently in use. The fact that others jump from approach to approach looking for a magic system, rather like flies whizzing from one pile of **** to another, does not mean the Three Ducks is not profitable for those who stay, study and practice Andy's approach.
Retired, got bored, moved on to other strategies etc.
Take ShadowNinja, posted pretty much every 3 or 4 posts, usually rubbish and he wanted to change the 3 ducks to the 4 ducks - he lasted about a year before he stopped posting.
Andy any views you have would be appreciated, not seen one of your mkt updates for a long while
You left out the people who became proficient at trading this approach and simply stopped posting because there was nothing further to add.And it is in the nature of trading that people look at other approaches albeit sticking to the one currently in use. The fact that others jump from approach to approach looking for a magic system, rather like flies whizzing from one pile of **** to another, does not mean the Three Ducks is not profitable for those who stay, study and practice Andy's approach.
mike.
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Just hit my limit order, +35 pips in the game bag, nice relaxing bit of hunting today captain.
Captain Currency
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Just hit my limit order, +35 pips in the game bag, nice relaxing bit of hunting today captain.
Sounds like that trade had arms 'n' legs! Always good psychologically to close out the trading week with a profit, let your weekend start now ...
Andy
Captain Currency.
Captain Currency
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3 Ducks, Weekend of 29th - 30th June '13
For Duck Hunters Next Week, Aud.Usd is still trending down and Eur.Usd and Gbp.Usd pairs are heading south also.
Usd.Jpy looks steady enough going north (see chart) with a decent up trend on the 4hr chart. Duck Hunters will favor longs (buys) on Usd.Jpy and shorts (sells) on Aud.Usd, Eur.Usd and Gbp.Usd.
But stall the ball … a shed load of news is due to be released next week like;
1. Aussie Interest Rate Statement is due to be released on Tue, July 2nd.
2. British Interest Rate Statement is due to be released on Thur, July 4th.
3. Eurozone Interest Rate Statement is due to be released on Thur, July 4th.
4. Non Farm Payrolls is due to be released on Fri, July 5th.
And a Double Don't Forget, 4th of July is a Holiday in the USA so the market could be thin.
A Little Side Tip
If you fish or golf, next week could be your week to shine away from the markets.
Andy,
Captain Currency.
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 or reliance on such information.
For Duck Hunters Next Week, Aud.Usd is still trending down and Eur.Usd and Gbp.Usd pairs are heading south also.
Usd.Jpy looks steady enough going north (see chart) with a decent up trend on the 4hr chart. Duck Hunters will favor longs (buys) on Usd.Jpy and shorts (sells) on Aud.Usd, Eur.Usd and Gbp.Usd.
But stall the ball … a shed load of news is due to be released next week like;
1. Aussie Interest Rate Statement is due to be released on Tue, July 2nd.
2. British Interest Rate Statement is due to be released on Thur, July 4th.
3. Eurozone Interest Rate Statement is due to be released on Thur, July 4th.
4. Non Farm Payrolls is due to be released on Fri, July 5th.
And a Double Don't Forget, 4th of July is a Holiday in the USA so the market could be thin.
A Little Side Tip
If you fish or golf, next week could be your week to shine away from the markets.
Andy,
Captain Currency.
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 or reliance on such information.
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bansir
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Re: The 3 Ducks Trading System
Thanks for the guidance CC.
Much appreciated.
Bansir
Thanks for the guidance CC.
Much appreciated.
Bansir
Captain Currency
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Did page 7 of the eBook not make it clear for ya? Let me show you Simon, hold me hand … (softly)
Third Duck | Entry - YouTube
Quick Tip: When you’re trying to identify a high, always start from the right hand side of your chart and work inwards.
Hope that helps ya Buddy!
Andy,
Captain Currency.
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Re: The 3 Ducks Trading System
Hi Bansir, are you still using the 3:1 reward risk ratio? How is it working for you? Im noticing that stops are getting hit a lot at the 5 min swing low/high. happy trading.
Hi Bansir, are you still using the 3:1 reward risk ratio? How is it working for you? Im noticing that stops are getting hit a lot at the 5 min swing low/high. happy trading.
bansir
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Re: The 3 Ducks Trading System
Hi since77,
It's early days yet. Thought I would stick with 20pip stop loss and 40 pip take profit levels whilst I get used to applying the ducks correctly.
Having said that i did let one of my trades run over the 40pip TP last month.
For me, I'm more concerned about keeping my losses under control. I would never move the stop out further than 20pips.
I'm also working on other issues such as sitting on my hands waiting for the good set up and improving record keeping.
There's so much to learn!
Cheers,
Neil
Hi since77,
It's early days yet. Thought I would stick with 20pip stop loss and 40 pip take profit levels whilst I get used to applying the ducks correctly.
Having said that i did let one of my trades run over the 40pip TP last month.
For me, I'm more concerned about keeping my losses under control. I would never move the stop out further than 20pips.
I'm also working on other issues such as sitting on my hands waiting for the good set up and improving record keeping.
There's so much to learn!
Cheers,
Neil
