Best Thread The 3 Duck's Trading System

[acharyadas]

Did I miss something when entering short on London open on NZDCAD? Should I not open the trade? http://i.imgur.com/8pmvTPa.png

 

[acharyadas]

EUR JPY long from Monday maybe?

http://i.imgur.com/7O4YSEo.png

 

[csc2009]

4 hour chart (1st Duck) is a good starting point.

This free guide might help you (might not), either way it's worth a quick read: How to Search the Market for Profitable Clues

Andy
Captain Currency

Thanks Captain, that is good read.

 

[TraderNorm]

Hello Traders,

Just thought I would share The 3 Duck's Trading System with you.

STOP LOSS FOR HIGHER FRAMES + (different topic) 3-FRAME INDICATOR

Hi Capt. and other Duck Hunters,

SL FOR HIGHER FRAMES: Captain, your default stop loss for the D1, H4, M5 combo is 30 pips. Seems like that's comparable to trading the H4. Am I correct? Anyhow, if I were to trade a combo like W1, D1, H4, what would be the best way to determine the comparable stop loss? Seems like it should be in proportion to the ATRs. For example, if the ATR on the H4 of a pair is 25, and the ATR on the D1 (for the higher combo) for the same pair is 75, the ATR on the D1 is 3 times the ATR on the H4. Therefore, it seems, to get the comparable stop for the higher combo, I'd multiply 30 pips by 3, which would be a 90 pip stop loss for the D1. Make sense? Is there a better way?

INDICATOR: Can anyone direct me to an indicator that would show the relation of price to the 60 SMA for the three frames of a 3-time-frame-combo simultaneously, on the same frame, so I wouldn't have to keep flipping from frame to frame (for multiple pairs)? Preferably one with visuals as opposed to simply text? If it's an EA that has that feature, but one where I could turn off the auto trade function, that would be cool, too.

Thank you!
Norm

 

[SmartGeek]

Forex Trading is very risky and it will not always work with one strategy, you need to learn a lot to survive in Forex.

 

[TraderNorm]

"Forex Trading is very risky and it will not always work with one strategy, you need to learn a lot to survive in Forex."

Hi SmartGeek,

I can't tell if your above statement was intended for me per my queries above. If it was, do you have an answer to my questions?

Thanks,
Norm

 

[roughbert]

In the interests of research and fun I decided to place 100 trades (on my dummy a/c!) using the Three Ducks rules, and to record interesting features thereof.

The first one that struck me (trade #8) gave a buy signal on AUD/USD, but immediately below strong resistance around 7677. Would seasoned Duckies take such a trade, or move on in search of softer targets?

 

[roughbert]

Just 22 trades in to my 3 Ducks trial. Checking the 4H and 1H before choosing an entry point on the 5M is such a simple and effective discipline.

Retaining the good Captain's rules, I am adding others as I go, like not taking the bait when strong resistance lies ahead of my bet.

Unfortunately I have to spend time away from the keyboard, and my fear is that I will return to find that the price popped up 100 pips then fell back onto my stop. So I place modest targets, and unfortunately these are getting hit. Despite this, so far I have won 183 pips and lost 126. Mostly using quite tight stops, which I move up whenever it seems practical.

 

[Captain Currency]

... The first one that struck me (trade #8) gave a buy signal on AUD/USD, but immediately below strong resistance around 7677. Would seasoned Duckies take such a trade, or move on in search of softer targets?

Let the dog see the rabbit, uploading a chart or two always helps

Andy
Captain Currency

 

[jeffre4]

I have been using the 3 ducks for a number of weeks and my entry has been very good. Taking the first half of the trade using 4 hour ATR works really well. However knowing if there is to be a continuation of the trend and if there is where to get take the final half of the trade more problematic.
So the question is what exit strategy are 3 ducks traders using. Trend lines macd etc etc

 

[NVP]

hey guys ....im not sure if Andy is still in the mix here at Trade2win

however his systems are very simple and yet powerful ...im a big fan ......and i also developed a homage strengthmeter version of what he does .....see some of the links below

N

 

[BaconSandwich]

He also hasn't been active in many of the other forums that he 'used' to post at - but then again it's time consuming to keep it up, let alone dealing with the constant bombardment of repetitive questions that have been answered time and time again in the same thread!

 

[Captain Currency]

Greetings Duck Hunters,

An update (I think one is well overdue), going forward into 2020 I unfortunately won’t be trading with The 3 Ducks.

The last 2 years have shown back-to-back negative returns in my trading account and the Ducks are struggling big time in the current market climate along with other breakout / trend trading type of strats.

The market has well and truly kicked the stuffing out of me (financially and mentally) for the last few years so I’m now going to take it handy and take some timeout.

I wish you all the best for 2020 and hopefully your luck has been better than mine!

Andy
Captain Currency

 

[swissy]

Greetings Duck Hunters,

An update (I think one is well overdue), going forward into 2020 I unfortunately won’t be trading with The 3 Ducks.

The last 2 years have shown back-to-back negative returns in my trading account and the Ducks are struggling big time in the current market climate along with other breakout / trend trading type of strats.

The market has well and truly kicked the stuffing out of me (financially and mentally) for the last few years so I’m now going to take it handy and take some timeout.

I wish you all the best for 2020 and hopefully your luck has been better than mine!

Andy
Captain Currency

Greetings Duck Hunters,

An update (I think one is well overdue), going forward into 2020 I unfortunately won’t be trading with The 3 Ducks.
Thank you for your contributions and best of luck for the
The last 2 years have shown back-to-back negative returns in my trading account and the Ducks are struggling big time in the current market climate along with other breakout / trend trading type of strats.

The market has well and truly kicked the stuffing out of me (financially and mentally) for the last few years so I’m now going to take it handy and take some timeout.

I wish you all the best for 2020 and hopefully your luck has been better than mine!

Andy
Captain Currency

Thanks for all your contributions although I don't trade your system I appreciate your methodology and honesty.

Best wishes for 2020.

 

[ffsear]

Have you tried this in other markets? US stocks.. the FX markets are as dull as dishwater at the moment and have been for 24 months now.

 

[Captain Currency]

Thanks for all your contributions although I don't trade your system I appreciate your methodology and honesty.

Cheers Swissy, that means a lot!

Andy
Captain Currency

 

[Captain Currency]

Have you tried this in other markets? US stocks.. the FX markets are as dull as dishwater at the moment and have been for 24 months now.

Think the way the market is, is that you need to be very flexible and a strategy like the 3 Ducks can be great for keeping an un-disciplined trader disciplined but on the other hand a disciplined trader also needs the freedom to move well outside the strategy walls when the market is doing something a bit different than "normal".

I wouldn't have a problem trading the Fx market today but I'd want to be highly discretionary and very flexible to take on a broad selection of trade opportunities without the confines of the trading system.

Andy
Captain Currency

 

[0007]

Have you tried this in other markets? US stocks.. the FX markets are as dull as dishwater at the moment and have been for 24 months now.

I'd agree with that. I've always thought the 3 Ducks to be a good basic system and although I've never used it other than experimentally for stocks, I get the feeling that it would have been ok in the recent trending S&P 500 bull market. I've always felt limited by fx – it's hard to wait until the right setup comes along: that's almost always unnecessary trading the SP 500 because there is such a wide choice and in a trending market there's always good trades to be had.

The Captain has been very honest with himself and his followers – a hallmark of a good trader. Whenever I've run into trading problems I've always looked for a different approach when I'm satisfied that the current is getting tired or exhausted – After lots of trial and error and sweat it usually comes good.

 

[NVP]

hey Andy ......sorry to hear that the strategy has stuggled ............

I think you are doing yourself a big disservice as its actually one of the better simpler systems out there that i have always rated and encouraged students to take a look at .....

and as you know i utilised its principles to create a relative strength version as well for currency indexes !

as other people have mentioned your 3 ducks is a great way of recognizing market potential .....the same way as my work on strengthmeters like the fxcorrelator identifies trends and themes in the overall forex G8 market ......

in terms of actual entries and triggers one must be always perhaps be more flexible and adaptive to succeed......so for me its not the 3 ducks concept that is at fault .....but using it as the de-facto entry/exit trigger that is questionable and always using some add ons to perfect the system......thats the edge missing....

if anyone reads my updates here at T2win or other forums or indeed my website / blog they will see i rarely talk about actual fxcorrelator indicator default entries / exits .....the indicator is just used as a snapshot / overview of the market and what is generally happening......helicopter stuff........my core triggers and entries / exits are completely different concepts ......I know I would lose if i merely and blindly took default signals based on the FXCorrelator....

anyway take care and perhaps you just need a break away from trading .........ive done so a few times over the years and always come back refreshed and raring to go.....

you know where i am so happy to stay in touch and talk about anything ........i know where you've been through as a fellow trader so can empathise mate ..........take care

[email protected]

have a great new year mate - you certainly deserve it

N

 

[Captain Currency]

in terms of actual entries and triggers one must be always perhaps be more flexible and adaptive to succeed......so for me its not the 3 ducks concept that is at fault .....but using it as the de-facto entry/exit trigger that is questionable and always using some add ons to perfect the system......thats the edge missing....

I hear ya Neil,

I think it's my midlife crisis kicking in where I'm itching for complete carte blanche from the system.

Andy
Captain Currency