Best Thread The 3 Duck's Trading System

[Captain Currency]

Greetings Duck Hunters, just a very quick stab at some Q's ...

why do you use candle charts?

No scientific reason, I just like'em

Do you use the high or the close of the candle to determine the the high mark?

Wick high, have a gander at the chart images on pages 7 or 8 in the 3 Ducks eBook.

Andy
Captain Currency

 

[Captain Currency]

... your psychological make up (can you sit and wait without trading to relieve boredom?) is critical - it is more important than your chosen method/approach to trading ...

Some sound advice there from an experienced trader, well worth printing that nugget of wisdom off and sticking beside your screen. Cheers Neil

 

[csc2009]

I wrote a Metatrader EA to make using this technique simpler. You can view the documentation and overview in the source code repository. You are also welcome to download it, provided I am not held liable for losses incurred by it's usage.

Nice work, let's check it out.

 

[peeterwoolf]

I wrote a Metatrader EA to make using this technique simpler. You can view the documentation and overview in the source code repository. You are also welcome to download it, provided I am not held liable for losses incurred by it's usage.

Let's test it.

 

[Captain Currency]

Somebodies been selling into rallies ... fair play to'em!

Never really fancied it, buying Eur.Gbp when the price crossed above the 4hr sma on Tue/Wed. Keep in mind the ECB and their doves for the Eur been weaker than it neighbor the Gbp.

Will be interesting to see if price crosses back below the 4hr sma, would love to see a nice sell off down to that 0.7960 area of support and possibly below in the coming days/weeks.

Andy
Captain Currency

 

[csc2009]

Thanks Captain, nice tips.

 

[peeterwoolf]

Seems like a good 'buying' opportunity for eur/gbp.

 

[robdel]

Somebodies been selling into rallies ... fair play to'em!

Never really fancied it, buying Eur.Gbp when the price crossed above the 4hr sma on Tue/Wed. Keep in mind the ECB and their doves for the Eur been weaker than it neighbor the Gbp.

Will be interesting to see if price crosses back below the 4hr sma, would love to see a nice sell off down to that 0.7960 area of support and possibly below in the coming days/weeks.

Andy
Captain Currency

hi Andy,

thanks again for the tips.
Just a little confused though, are you using the 4hr chart to find your entries here ? I was under the impression you used the 5min for entries ?

Sorry for the very basic questions.

thanks Rob

 

[Adecco]

hi Andy,

thanks again for the tips.
Just a little confused though, are you using the 4hr chart to find your entries here ? I was under the impression you used the 5min for entries ?

Sorry for the very basic questions.

thanks Rob

4 hour chart isn't used as an entry point,.

The 4 hour chart is used as the initial pre-requisite to be satisfied(i.e. 1st duck) before considering lower timeframes for entry points.

In the above example the captain is just keeping an eye on the 4 hour chart - waiting for it to get on the right side of the sma.
And if/when it is lined up correctly you would then refer to the 1 hour / 5 mn chart to determine the precise entry point.

 

[robdel]

4 hour chart isn't used as an entry point,.

The 4 hour chart is used as the initial pre-requisite to be satisfied(i.e. 1st duck) before considering lower timeframes for entry points.

In the above example the captain is just keeping an eye on the 4 hour chart - waiting for it to get on the right side of the sma.
And if/when it is lined up correctly you would then refer to the 1 hour / 5 mn chart to determine the precise entry point.

Ok, that makes sense !

thanks

 

[csc2009]

That's really good explanation, Adecco.

 

[Captain Currency]

Greetings Duck Hunters,

If you fancy catching a winning trade or two over the next few days (who doesn't) be sure to trade with the trends ...

I spot weakness, no doubt the poor auld Euro is weak across the board and may be the currency to sell when your Ducks line up or even sell into potential rallies if that's how you like to roll (have a gander at the chart below)

Currently looking like our Ducks would favor;

selling set-ups on these major pairs:
Eur.Usd (price below 4hr sma)
Gbp.Usd (price below 4hr sma)

selling set-ups on these cross pairs:
Eur.Gbp (price below 4hr sma)
Eur.Jpy (price below 4hr sma)

buying set-ups on these major pairs:
Usd.Chf (price above 4hr sma)
Aud.Usd (price slightly above 4hr sma)
Usd.Cad (price above 4hr sma)
Usd.Jpy (price above 4hr sma)

Chat soon,

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.

 

[williamsf1_fan]

Greetings Duck Hunters,

If you fancy catching a winning trade or two over the next few days (who doesn't) be sure to trade with the trends ...

I spot weakness, no doubt the poor auld Euro is weak across the board and may be the currency to sell when your Ducks line up or even sell into potential rallies if that's how you like to roll (have a gander at the chart below)

Currently looking like our Ducks would favor;

selling set-ups on these major pairs:
Eur.Usd (price below 4hr sma)
Gbp.Usd (price below 4hr sma)

selling set-ups on these cross pairs:
Eur.Gbp (price below 4hr sma)
Eur.Jpy (price below 4hr sma)

buying set-ups on these major pairs:
Usd.Chf (price above 4hr sma)
Aud.Usd (price slightly above 4hr sma)
Usd.Cad (price above 4hr sma)
Usd.Jpy (price above 4hr sma)

Chat soon,

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.

I think EURUSD, USDCHF and EURGBP look top 3 for me

 

[peeterwoolf]

Greetings Duck Hunters,

If you fancy catching a winning trade or two over the next few days (who doesn't) be sure to trade with the trends ...

I spot weakness, no doubt the poor auld Euro is weak across the board and may be the currency to sell when your Ducks line up or even sell into potential rallies if that's how you like to roll (have a gander at the chart below)

Currently looking like our Ducks would favor;

selling set-ups on these major pairs:
Eur.Usd (price below 4hr sma)
Gbp.Usd (price below 4hr sma)

selling set-ups on these cross pairs:
Eur.Gbp (price below 4hr sma)
Eur.Jpy (price below 4hr sma)

buying set-ups on these major pairs:
Usd.Chf (price above 4hr sma)
Aud.Usd (price slightly above 4hr sma)
Usd.Cad (price above 4hr sma)
Usd.Jpy (price above 4hr sma)

Chat soon,

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.

Thanks Captain, I have eur/usd, eur/jpy and eur/gbp set up already, I will have to check on the others now.

 

[williamsf1_fan]

I think EURUSD, USDCHF and EURGBP look top 3 for me

Currencies been flat today - little movement- sticking tight/winding up. In line with this approach my understanding is i should assess now it has been 24 hours and if not gone anywhere then close down. Correct? My feeling is that it is winding up for continuation and should keep open . thoughts welcomed- am new to this !

Thanks

 

[Captain Currency]

OK fess up, who's been shopping at PoundLand today?

Banana skin slip for the Pound! I think some trend traders will be content to lock-in a bit a profit around these levels.

Would love to see a bit more Bearish pressure in the following sessions.

Andy
Captain Currency

 

[Chalky_trader]

Hi All

Apologies if this has been asked before but does anyone have a link for an MT4 3 duck indicator

Thanks

Chalky

 

[csc2009]

Hi All

Apologies if this has been asked before but does anyone have a link for an MT4 3 duck indicator

Thanks

Chalky

Check post 2900, you will find out.

 

[Captain Currency]

Careful today, mind your bits 'n' bobs .... Non Farm Payroll is on the way!

Have a grand weekend Duck Hunters,

Andy
Captain Currency

 

[NVP]

Careful today, mind your bits 'n' bobs .... Non Farm Payroll is on the way!

Have a grand weekend Duck Hunters,

Andy
Captain Currency

nice quote..........shame I lose so many all the time