Best Thread The 3 Duck's Trading System

[Captain Currency]

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...

Looks like the drinks are on you this weekend CB :drunk::drunk:

Andy
Captain Currency

 

[kaya75]

Hey D,
Thanks for the reply
Yep CC's original set up, with orders 4hr/1hr 5mins, my biggest obstacles is the stop losses, I generally place these on the 1hr support/resistance lines.

I'll look at 1d and weekly if not following that particular pair and a quick look at news events on FF calender - imo my brokers calender is poor.. I don't follow news just watch out at forthcoming events.

Happy pips
Happy Friday

 

[neil]

charts - wot charts

Hey D,
Thanks for the reply
Yep CC's original set up, with orders 4hr/1hr 5mins, my biggest obstacles is the stop losses, I generally place these on the 1hr support/resistance lines.

I'll look at 1d and weekly if not following that particular pair and a quick look at news events on FF calender - imo my brokers calender is poor.. I don't follow news just watch out at forthcoming events.

Happy pips
Happy Friday

I cannot see the charts !!

 

[darktone]

I cannot see the charts !!

Voila!

Hey D,
Thanks for the reply
Yep CC's original set up, with orders 4hr/1hr 5mins, my biggest obstacles is the stop losses, I generally place these on the 1hr support/resistance lines.

I'll look at 1d and weekly if not following that particular pair and a quick look at news events on FF calender - imo my brokers calender is poor.. I don't follow news just watch out at forthcoming events.

Happy pips
Happy Friday

cheers for that, will post up my 2cents over the weekend smtime.

 

[kaya75]

Cheers for sorting out the charts there, it's being an hectic few days so I'm doing this on the hop, but you see what I was talking about with my psychology of managing trades, I should have moved to break even and I'd have stayed in, Andy talks about adding to winners so my next order wads legit but has I was chasing pips I moved my first stop loss to tight, but then I think well basically if I closed it'd have been the same, but psychology tells me I need the 35pips to pull my weekly profits back and to give me that winning feeling, I struggle with that, big time it isn't the place for feelings!! I'm consigned to thinking as I be ture as a trader I'll leave these, build confidence and consent management, like say my account is just over 18months old and just over 9% down but 8% was lost in the first 3 months, now I'm recovering but that's me now as a 18month old live trader, is done 16 months on demo before hand, I give about 8% of account loses over to psycological effects of real money.

Case in point the cable is at a yearly high at the mo, so I'll log on to my demo on Sunday and slap 30k sell no stops 20:1 levage and I reckon by June I'll be banking a tidy profit, can I slap do that with my real account - no way cuz I cant risk a margin call on my live account... Why cuz iz chicken? - I don't know, should I? yes Cycles say the GBP will fall into to June and all I'll have to do is check in once in a while, do I want to? No cuz with really real money riding I'll be psychological impacted so I'll give my money to my broker over many trades through stop loses which are supposed to conserve my account... I knows me and I knows my errors but so far CC sma's are giving me a solid foundation, and a enjoyable ride, it's a good game and for me enjoyment is the key tostudied game

I studied and ive traded, pullbacks, market opens and closes, ive boxed but through out it all the ducks have kept me a float and being consistant of em all big thanks toAndy for sharing

All two pennies welcome btw
Happy daze

 

[Splitlink]

I studied and ive traded, pullbacks, market opens and closes, ive boxed but through out it all the ducks have kept me a float and being consistant of em all big thanks toAndy for sharing

All two pennies welcome btw
Happy daze

Good for you, mate! ! follow you guys, on this thread, regularly, and it makes me happy to see folk pleased with their trades.

 

[darktone]

will post up my 2cents over the weekend smtime.

Hope you find something useful in these screenies.

Cheers
D

 

[darktone]

And out of respect for the original method. Heres 'the' 5min entry for the current H4 trend. Coulda bin a flyer!

 

[darktone]

Cheers for sorting out the charts there, it's being an hectic few days so I'm doing this on the hop, but you see what I was talking about with my psychology of managing trades, I should have moved to break even and I'd have stayed in, Andy talks about adding to winners so my next order wads legit but has I was chasing pips I moved my first stop loss to tight, but then I think well basically if I closed it'd have been the same, but psychology tells me I need the 35pips to pull my weekly profits back and to give me that winning feeling, I struggle with that, big time it isn't the place for feelings!! I'm consigned to thinking as I be ture as a trader I'll leave these, build confidence and consent management, like say my account is just over 18months old and just over 9% down but 8% was lost in the first 3 months, now I'm recovering but that's me now as a 18month old live trader, is done 16 months on demo before hand, I give about 8% of account loses over to psycological effects of real money.

Case in point the cable is at a yearly high at the mo, so I'll log on to my demo on Sunday and slap 30k sell no stops 20:1 levage and I reckon by June I'll be banking a tidy profit, can I slap do that with my real account - no way cuz I cant risk a margin call on my live account... Why cuz iz chicken? - I don't know, should I? yes Cycles say the GBP will fall into to June and all I'll have to do is check in once in a while, do I want to? No cuz with really real money riding I'll be psychological impacted so I'll give my money to my broker over many trades through stop loses which are supposed to conserve my account... I knows me and I knows my errors but so far CC sma's are giving me a solid foundation, and a enjoyable ride, it's a good game and for me enjoyment is the key tostudied game

I studied and ive traded, pullbacks, market opens and closes, ive boxed but through out it all the ducks have kept me a float and being consistant of em all big thanks toAndy for sharing

All two pennies welcome btw
Happy daze

Im a big fan of simple. Can only speak from personal experience but things became far easier (technically and psychologically) when i finally accepted that 'I dont know!'.
wheres it gona bounce? = I dont know!
where do i put my stop? = I dont know!
how far will it run? = I dont know!
etc
etc
etc

All i know is that atm, according to my setup, the trend is X. I hope enter with minimal loss and hope the situation continues to my target.
The other 90% is taking care of yourself mentally, doesnt really matter how you achieve that as long it works for you.

All in my humble opinion.

Cheers
D

 

[kaya75]

Hey D,
Thanks for the time, you make a lot of sense, I need to sit down on the laptop (on my phone at the mo...) And study these, but really appreciate the time, I'll have a study when I can have a proper look - hopefully before monday!

Happy Saturday

 

[Captain Currency]

3 Ducks, Weekend of 30th Nov - 1st Dec '13

Greetings Duck Hunters,

Hopefully we're all giving thanks to the currency market this week.

Yen pairs probably made it onto the shortlist for trend traders to trade this week and bulls continued to push north in the direction of the 4hr up trend, just what the Ducks love.

See the Usd.Jpy chart below, current price is circled and is above the 4hr 60 period sma (blue line) and this means our Ducks are only interested in the buying set-ups on this pair.

Next Week ... News, News, News

Next week (2 - 6 Dec) I'm going to be super cautious, it that time of the month again where we get overdosed on fundamental news. I wouldn't be surprised to see currencies doing a bit of a sideways dance until all the news is out of the way.

On Tuesday the 3rd we get a rate decision out of Australian. On Wednesday the 4th we get a rate decision out of Canada. Thursday the 4th we get hit twice with rate decisions out of Britain and Europe. Then to end the week off we have the US Non Farm Payrolls out on Friday the 6th!!!

If you play golf or do a bit of fishing, next week could be a super opportunity to have some time out from the market. Instead head down to the golf course or lake, avoid all the news and recharge your trading batteries.

Safe trading to you for the week ahead if you're not a golfer or a fisherman ...

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.

 

[neil]

Greetings Duck Hunters,

Hopefully we're all giving thanks to the currency market this week.

Yen pairs probably made it onto the shortlist for trend traders to trade this week and bulls continued to push north in the direction of the 4hr up trend, just what the Ducks love.

See the Usd.Jpy chart below, current price is circled and is above the 4hr 60 period sma (blue line) and this means our Ducks are only interested in the buying set-ups on this pair.

Next Week ... News, News, News

Next week (2 - 6 Dec) I'm going to be super cautious, it that time of the month again where we get overdosed on fundamental news. I wouldn't be surprised to see currencies doing a bit of a sideways dance until all the news is out of the way.

On Tuesday the 3rd we get a rate decision out of Australian. On Wednesday the 4th we get a rate decision out of Canada. Thursday the 4th we get hit twice with rate decisions out of Britain and Europe. Then to end the week off we have the US Non Farm Payrolls out on Friday the 6th!!!

If you play golf or do a bit of fishing, next week could be a super opportunity to have some time out from the market. Instead head down to the golf course or lake, avoid all the news and recharge your trading batteries.

Safe trading to you for the week ahead if you're not a golfer or a fisherman ...

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.

Will try out me new driver at golf course me thinks

 

[NVP]

hey all

heres Andy's 3rd Duck flying on a 60ma 4hour TF courtesy of my FXCorrelator

The RED Line is the GBP..........boy what a great recent run by the Brits !

the Yellow Yen is the dog sell still .....and it took big hits later in the week

the GBPJPY buy has taken 1000 pips this month ...and the 3 ducks had those guys on alert since 13th November (GBP crossover of the JPY on 60ma 4hr) so dont say you wernt warned !

USD pairs have all been nice depending on which side the 4hr TF duck told you to follow

all the best and keeps those ducks fed and warm in the winter .....
N

 

[PipCycle]

Hi All
Thank you for everyones input in this thread. Your comments are much appreciated.
Just a quick note of thanks to Kaya for the R:R reasoning earlier.
Managed only one trade so far this week[carryover from 28/11/13] on the UJ.
Entry was @102.214 with a 50pip S/L. Left the T/P open.
It managed a high of +84 [ish]. I then shifted the S/L to 30pips.
Started to bounce around the 103.100 R1 level on the hourly. After four bounces it still couldnt punch through. So opted to close out at +63.
It may not seem much to some traders but that was the most stress free/comfortable 63 pips ive ever taken just by following the Ducks, a bit of S/R and of course not to mention that its one heck of a news week this week. [The market will be there next week].Until then my Ducks are going fishing.
PipCycle

 

[chiara1st]

test time

 

[kaya75]

test time

confirmed!

 

[kaya75]

Hope you find something useful in these screenies.

Cheers
D

D,

I Finally got on the big screen, being a mad week for me outside the charts, apologies for not getting back sooner.

Anyhow, back to it - your screen shots make a compellingly gooood argument - I'll try to address some stuff.

My stop was well under the MA you are right, I'm generally setting below the SR's on the one hour charts, but as you rightly say - and i like this bit a lot "stops mean traders exit at the worst possible place" - totally agree - i should've seen this before - i was / have been conditioned!

Also multiply attempts to entry taking small loses makes more sense then leaving wide stops of 50 - 100pips - thanks for the insight.

one thing I'm unsure of is the "costs" on 5 minute entries.. but i believe if you are looking at multi-attempts then the 5min charts offer too much noise, and too many loses even just on the spread?

I like your method of entry and really appreciate the time you took to do this, my main problem is that I've not always got the time to check on the hour - but I'll try to work it in to my day basically if i change my habits of checking and moving my stops i should be able to implement these methods.

you asked for fun target... my target was 103.9 i re-entered the UJ a couple of times - left one over the weekend and took the profit on Monday afternoon (2/12/13) but i see using the method of entry you outlined the trade would have scooped many more pips.

Once again many thanks, you asked to try to convince me

Based on these, i stand convinced.

Peace and Happy Trading

Kaya

 

[Captain Currency]

Will try out me new driver at golf course me thinks

Sounds like a triffic idea, should I call you Big Bertha from now on?

FORE ....

Andy
Captain Currency

 

[darktone]

Anyhow, back to it - your screen shots make a compellingly gooood argument.

Peace and Happy Trading

Kaya

Its great to hear ive helped you think about things a little.
We can all learn bits n bobs from each other eh.

Cheers
D

 

[Splitlink]

Sounds like a triffic idea, should I call you Big Bertha from now on?

FORE ....

Andy
Captain Currency

I think that he is talking about the driver for the golfmobile he runs around in. Its his way of saying that 3 ducks work for him.