Best Thread The 3 Duck's Trading System

[Adecco]

USD/CAD did the business today with a 20.30 SL/TP.
It's still in free call as I type in fact.

I see USD/CAD giving it all back again today - although teh ducks kept us out of the trade of continuing to short :clap:

 

[Captain Currency]

I see USD/CAD giving it all back again today - although teh ducks kept us out of the trade of continuing to short :clap:

Indeedy, really nice breakout and clean follow through on Thursday for Usd.Cad sellers, glad you bagged a few pips when your Ducks lined up!

Ducks never really lined up for a sell on Friday on Usd.Cad but into next week or over the next few weeks I'd really loves to see more downward pressure on Usd.Cad, c'mon the bears :clap:

Have a great weekend Duck Hunters,

Andy
Captain Currency

 

[Gela]

I just read this article on Bloomberg and it talks about how even the big banks are struggling to stay profitable in the low volatility currency environment.


" The euro traded in its narrowest range against the dollar since its 1999 debut in the last week of April, moving just 0.7 U.S. cent between $1.3785 and $1.3855. It was at $1.3756 at 1:54 p.m. in New York. Three-month implied volatility on the currency pair dropped to 5.5475 percent on May 2, the lowest since 2007."

So I am thinking maybe April has been the worst month to learn and be profitable in the Forex....Or is it just a weak excuse to explain my losses and frustrations and inability to see and trade a clear trend? ;-)

 

[NVP]

hey all

heres the week on the 60ma 4Hr TF (biggest duck)

ive indicated where the movers are in the week .........

Cap was sure right on the CAD buy....and the Euro sell was worth the wait on the USD ...... !!

later
N

 

[NVP]

I just read this article on Bloomberg and it talks about how even the big banks are struggling to stay profitable in the low volatility currency environment.


" The euro traded in its narrowest range against the dollar since its 1999 debut in the last week of April, moving just 0.7 U.S. cent between $1.3785 and $1.3855. It was at $1.3756 at 1:54 p.m. in New York. Three-month implied volatility on the currency pair dropped to 5.5475 percent on May 2, the lowest since 2007."

So I am thinking maybe April has been the worst month to learn and be profitable in the Forex....Or is it just a weak excuse to explain my losses and frustrations and inability to see and trade a clear trend? ;-)

hey Gela

from the chart below you see that :-

April was pretty good in first week as the Green usd took hits ......then in truth after a big buy on the RED GBP the market did converge (tighten) and therefore we did not see the big trending that makes us money ...

still pips around if you follow Caps rules though

N

 

[Adecco]

Anyone watching EURGBP?

Seems to be at its lowest level for the previous 15 months !

All ducks lined up ! Surely a very high probability trade.

 

[Adecco]

Did anyone see any trades today?
I saw none due to asian opening criteria not met.

 

[csc2009]

I had short on eurgbp and closed right before 9.30.

 

[Gela]

I have a long trade in on CAD/CHF since yesterday. That pair has been ranging for a while but I am waiting for a breakout to the upside, as the CAD seems much stronger than CHF at the moment. 3Ds are lined up currently. If it does not break out in the next days I will just close. Maybe on Friday.

PS: What is the Asian criteria? Sorry to ask but I studied the 3Ds on a different site and don't have time at the moment to read ~2800 posts. But whatever it is, I am not "using" it.

 

[NVP]

hey all

heres the big duck 4hr on a 60ma as shown on my free FXCorrelator .........

3 currencies shown where recent trades were possible I suspect with all 3 ducks lining up

remember you can only trade currencies if the pattern is the same on the 2 other ducks as the positions here on the 4hr TF

so you couldnt have sold the red GBP into the blue Euro as its not below it on this 4hr chart...you could only trade buys

i'm not selling anything here - the indicator is just a fast way of seeing whats moving on the ducks

N

 

[Gela]

Strength works

Hi NVP,

I would use your FX Correlator but I don't use Metatrader. :-(

When I first started using the 3Ds I did not consider correlations between currencies at all. Whenever I saw all 3 Ds lined up I would just enter, on any pair. That worked sometimes but a lot of times it did not. Deep down I knew that the 3 Ducks are a very logical system. There had to be a way to make this work. Now I use my own version of a "strength meter", it is actually just a chart analysis of 28 pair at a point in time. Then I pair strong currencies with weak ones and wait for a 3 D set up. I also use MACD, ATR and the fundamentals of course.
Now there is other ways to find "strength" like futures contracts, USD index etc.


I used my strength analysis on a trade I currently have open in a long position on CAD/CHF and I am currently + 17 pips.

I believe the 3Ds could be supplemented well with trend analysis, support/resistance, Fib lines, some candle analysis, some (not too many) indicators, volume etc. I am still new so I am still learning about all that. To me the 3Ds are logical and simple and a great foundation that I can hopefully built my own system on.

Angela

Relax, it's just trading!

hey all

heres the big duck 4hr on a 60ma as shown on my free FXCorrelator .........

3 currencies shown where recent trades were possible I suspect with all 3 ducks lining up

remember you can only trade currencies if the pattern is the same on the 2 other ducks as the positions here on the 4hr TF

so you couldnt have sold the red GBP into the blue Euro as its not below it on this 4hr chart...you could only trade buys

i'm not selling anything here - the indicator is just a fast way of seeing whats moving on the ducks

N

 

[peeterwoolf]

I had short on eurgbp and closed right before 9.30.

Nice, I opened in long position on eurgbp.

 

[csc2009]

I'm confused, is the Eur/jpy showing 'buy' sign on all 3 time frames chart this morning?

 

[csc2009]

Sorry my mistake, it's not a 'buy' sign. Way to long in front of screen.

 

[Captain Currency]

It's better than a good murder mystery film .... I'd be very interested in finding out what happens next on Eur.Usd!

Will Bears try and go lower? I'm wondering will we see a break (and hold) below that 1.3650 area in the coming days and into next week.

Or will 1.3650 be an area where sellers bail out for a profit and push price back up?

Interesting times on Eur.Usd that could throw up a few trading opportunities in the days ahead for trend traders like selling into rallies if we do see a bounce back up north or selling the breakouts if Bears still have a bit more lead in their pencils ...

Safe trading Duck Hunters (it can be a bit whippie)

Andy
Captain Currency

 

[csc2009]

I think we will have to wait and see, at the moment I can't see where is this pair going?

 

[Adecco]

That ol' yen looks in trouble this morning....or is it just me?

Ducks lined up.

 

[Captain Currency]

Duck Hunters, Wed the 21st of May could see the US Dollar go wild!

Andy
Captain Currency

 

[stephen2003]

bullish ?.

Duck Hunters, Wed the 21st of May could see the US Dollar go wild!

Andy
Captain Currency

 

[Gela]

I just read about the new US law FATCA, that will be enacted on July 1, 2014. This might not be the right place for political discussions but this law is very scary and I wonder what it will do to the entire currency market (and the US economy as a whole) in the near and long future. The press has not been writing a lot about it, wonder why.....
I would like to know what you guys think about it. Some of you are pretty smart, after all.