Best Thread The 3 Duck's Trading System

[Captain Currency]

took this bullish cable trade this afternoon. No idea how it's going to work out, but my SL is tighter than a duck's a** (pun intended!)

Howdy Mike,

Hope you managed to pull a bit of profit outta Cable on Tue.

Wed now and 2nd Duck is currently not confirming; on the wrong side of the sma on the 1hr chart.

Good trading to you for the rest of the week Buddy.

Andy
Captain Currency

 

[mikeeg]

Howdy Mike,

Hope you managed to pull a bit of profit outta Cable on Tue.

Wed now and 2nd Duck is currently not confirming; on the wrong side of the sma on the 1hr chart.

Good trading to you for the rest of the week Buddy.

Andy
Captain Currency

Cheers CC. Yes, it went into profit by around 10pips but was hoping for a longer run and ended up getting stopped out, hence the importance of having a tight SL when using this system!

 

[nitrader]

Hi Guys

New to trading (I am spread betting stocks) but very keen to try this "method" for my first attempts
into Forex.

Andy

 

[kaya75]

Back on it this week, solely 3 ducks, took a nice profit of GU on Wednesday and then the EU took it back onthe ccollapse at around 15:30, but took it back and some today on the AU and GU it's a nice system so long as you identify your support and resistance lines and keep your r:r in check goodluck.

 

[Captain Currency]

Hi Guys

New to trading (I am spread betting stocks) but very keen to try this "method" for my first attempts
into Forex.

Andy

Howdy Nitrader, take your time with Forex and nowt wrong with been a virgin ...

Back on it this week, solely 3 ducks, took a nice profit of GU on Wednesday and then the EU took it back onthe ccollapse at around 15:30, but took it back and some today on the AU and GU it's a nice system so long as you identify your support and resistance lines and keep your r:r in check goodluck.

Yep some decent midweek moves this weeks which is just what the Ducks love. Glad to hear you took some nice profits out of the market Kaya.

Have a great weekend,

Andy
Captain Currency

 

[Captain Currency]

3 Ducks, Weekend of 23rd - 24th Nov '13

A quiet market this week .... I joke !!

Actually a very interesting week in the market on most of the pairs and its always reassuring to see price put it's head down and pump lower like we seen on Aud.Usd or even pump higher like we just seen this week on the Yen pairs.

After a slow start to the week Gbp.Usd did manage to get itself up to that 1.6200 area we spoke about in last weeks post (see chart below).

Aud.Usd got the teacher pet award this week after Wed, Thur and Fri all seen price dive lower back in the direction of the main 4 hour down trend, just what us 3 Ducks Trend Traders love to see.

Next week (25 – 29 Nov) I’d still fancy having the Aud.Usd on my shortlist to trade and would favor the selling set-ups if our Ducks line up.

Good trading to you for the week ahead Duck Hunters,

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.

 

[PipCycle]

Hi All
This is my first post on this forum but have been following the 3D's for a little while now.
Just a recap on this weeks trades using the ducks.
EU looked the goods with all the charts lining up. Held a +20 or so but found it a bit hard to keep momentum above the 1.3540. unfortunatly S/L was hit
GU on the other hand triggered on Thursday and currently up +21 [market closed]
Im still struggeling with the TP & SL for this type of trading. Im using a 2:1 risk to reward ratio but have noticed over the last few weeks a lot of shorter,flatter runs which makes it difficult to reach target.[except for this weeks AU run].
Time to read the rules again...lol
Hope everybody got their share this week
Cheers
PipCycle

 

[kaya75]

Im still struggeling with the TP & SL for this type of trading. Im using a 2:1 risk to reward ratio
Hope everybody got their share this week
Cheers
PipCycle

I found the TP and SL's tough - still do, mainly I forget about R:R - I look at the 1 hour R/S lines for the stops and pop in my stops about 10pips outside these and the 4hr R/S lines for the TP and pop in about 5-10 under - although i'll adjust depending on daily / yearly Resistance and Support lines too - I'm careful that I'm not putting my TP's beyond a yearly high / low for instance... Also if a 4hr line is close by I'll start looking at the 1D's and weighing up risk. News also plays a factor not massive but it's there.

I adjust volume to cope with the R+R regarding stops - I used to get hung up on R/R but now I'll decide my risk and the S/R lines deal with the TP's I can always add to winners...

Just my way - everybody does it slightly different - to me the 3Ducks allow for movement and adaptation - FX is one of the most volatile markets - for me a system must allow for that

Happy Sunday - Good luck next week - Cheers for the week ahead review Captain

Kaya

 

[Balucapt]

Hello for everybody!
I am New on this forum, but the trading already more of his years I experiment with it. too I am on painting the chart, i like it this clear plain system, I would like to observe this henceforth, here on the forum!

Balucapt!

 

[Griffo_]

Just like to add thanks to this thread for the method - since using it with a demo account before live trading, i haven't lost a trade when sticking to it Hope i have the same findings when i trade it live shortly.

 

[kaya75]

Live trading is psychologically though, over the last 18 months in my demo account - starting at 20K i'm >50% up - i don't use stops... i've seen trades go 16k down and recover.. in my live account there is no way i could cope with a trade going 75% down, this is my biggest killer on my live account i'm 9% down - due to stops. I'm coming to the conclusion that i need to fund an account with money I can lose - this is fundamental to me coping with the psychology of trading and why it is "easier" to trade someone else’s money....

Good luck

 

[Captain Currency]

Hello for everybody!
I am New on this forum,
Balucapt!

Welcome Balucapt!

Just like to add thanks to this thread for the methody.

Thanking you Griffo ...

Live trading is psychologically though.

Amen Brother Kaya, tis more mental than fundamental and we're all playing in the Premiership.

Take your time with Forex,

Andy
Captain Currency

 

[darktone]

Live trading is psychologically though, over the last 18 months in my demo account - starting at 20K i'm >50% up - i don't use stops... i've seen trades go 16k down and recover.. in my live account there is no way i could cope with a trade going 75% down, this is my biggest killer on my live account i'm 9% down - due to stops. I'm coming to the conclusion that i need to fund an account with money I can lose - this is fundamental to me coping with the psychology of trading and why it is "easier" to trade someone else’s money....

Good luck

Have you thought of managing your trade instead of using a hard stop? Ie:-
1) You are long at 10 (with a soft stop at 5).
2) The price hits 5 so you want to get out.
3) You place a limit to exit at say 7.
In this way you are aiming to minimise your losses by attempting to take them at a more favorable level.

cheers
D

 

[darktone]

Fab thread Captain! Very simple and usable base for a method, it also leaves enough room for the trader to put their mark on it re entries / exits etc.

+1 for the trend followers!

cheers
D

 

[kaya75]

Have you thought of managing your trade instead of using a hard stop? Ie:-
1) You are long at 10 (with a soft stop at 5).
2) The price hits 5 so you want to get out.
3) You place a limit to exit at say 7.
In this way you are aiming to minimise your losses by attempting to take them at a more favorable level.

cheers
D

Good advice darktone, I manage them up, I'm on the usd/jpy at the mo, it got filled on Monday @12noon and dropped down to the hourly resistance, I was just below this it missed my stop (@101.133) by about 10pips today it recovered and I've locked in about 35pips and my stop is sitting just below the hour mark - now the psyco is playing, if I lock in 35 pips I'm even for the week (got stung on Monday) but my stop on the uj would be better placed a breakeven, but I'm wanting those 35 min, plus the uj is close to a sixonth high.. so I guess the 12am news outta Japan will see it one way or the other, either way I'm happy, but again if the psyco wasn't playing it's game I could probably absorbs the news and carry on - the joys. As for getting out of trades on soft stops, not anymore, I've learnt hard lessons on soft stops, but as the saying goes stop the losers and let the profits run.... Just don'tvwork for me I never know which side of the fence to stick my commitment! So I enter a trade with my max risk I'm prepared to loose on that trade based on SR, ADR for 5days and softly on forthcoming news...

Happy swinging all

 

[cb275]

Hi Andy

I have been testing your system, on a demo, to some success. Thought I would share the last 2 days with you, currently in profit between 500-600 points...


EUR/AUD - Buy @ 1.48932 and 1.47592, Current P/L = +148 points

EUR/NZD - Buy @ 1.65, Current P/L = +190 points

GBP/JPY - Buy @ 164.956, Current P/L = +165 points

USD/CAD - Buy @ 1.05584, Current P/L = +22 points

These are currently my most successful trades in testing the system which has been done over the past 2-3 weeks.

Thanks

 

[darktone]

Good advice darktone, I manage them up, I'm on the usd/jpy at the mo, it got filled on Monday @12noon and dropped down to the hourly resistance, I was just below this it missed my stop (@101.133) by about 10pips today it recovered and I've locked in about 35pips and my stop is sitting just below the hour mark - now the psyco is playing, if I lock in 35 pips I'm even for the week (got stung on Monday) but my stop on the uj would be better placed a breakeven, but I'm wanting those 35 min, plus the uj is close to a sixonth high.. so I guess the 12am news outta Japan will see it one way or the other, either way I'm happy, but again if the psyco wasn't playing it's game I could probably absorbs the news and carry on - the joys. As for getting out of trades on soft stops, not anymore, I've learnt hard lessons on soft stops, but as the saying goes stop the losers and let the profits run.... Just don'tvwork for me I never know which side of the fence to stick my commitment! So I enter a trade with my max risk I'm prepared to loose on that trade based on SR, ADR for 5days and softly on forthcoming news...

Happy swinging all

Can you post up a screenie of your setup and entry? Go on, let me try and convince you otherwise

 

[kaya75]

Okay, Put i'll have to do it when i'm home - it may not be until later tonight or even tomorrow it's going to be a late one for me tonight... i'm interested - The UJ trade Closed during the Asian session for +35...

 

[kaya75]

Okay, Put i'll have to do it when i'm home - it may not be until later tonight or even tomorrow it's going to be a late one for me tonight... i'm interested - The UJ trade Closed during the Asian session for +35...

Hiya,

Here is the screenshot of the trade (below) - You'll see the green lines are the order / filled and the red line is the S/L

The blue box to the right of the S/L is the next order to fill that is still running - and the grey cross hairs are just my cursor pos when i shot the screen...

(Yellow = 60 SMA - btw has anyone noticed that oanda SMA are different to Trade interceptors??)

Happy Friday
Kaya

 

[darktone]

Hiya,

Here is the screenshot of the trade (below) - You'll see the green lines are the order / filled and the red line is the S/L

The blue box to the right of the S/L is the next order to fill that is still running - and the grey cross hairs are just my cursor pos when i shot the screen...

(Yellow = 60 SMA - btw has anyone noticed that oanda SMA are different to Trade interceptors??)

Happy Friday
Kaya

Cool, cheers for that. Couple of questions.
1) Youre using stop orders to enter yes? ie when a price goes up through the order you go long.
2) What else are using to gauge the direction? Captains original setup iirc is 4hr for direction / 1hr for direction / 5min for entry confirmation. What time frames are you looking at?

Cheers
D