Best Thread The 3 Duck's Trading System

[Trader333]

CC,

You may find it easier to upload jpg or gif files as opposed to bmp as they will be displayed and open a bit easier in my experience.


Paul

 

[Captain Currency]

CC,

You may find it easier to upload jpg or gif files as opposed to bmp as they will be displayed and open a bit easier in my experience.


Paul

Thanks Paul,

I will do a jpeg next time.

Kind Regards,

 

[hcour]

On a long position do you buy on the break of the last high, or would you wait for a pullback following the breakout?

Thanks,
Harold

 

[Trader333]

I have just realised that I had the set up for this completely wrong (from an indicator settings standpoint) which meant I got a signal that I shouldn't have (even though it was profitable) last week. I was wondering why things didn't seem right when I changed the compression on my charts and now I know. It is all corrected now and I am looking forward to seeing how things progress.


Paul

 

[TheBramble]

I have just realised that I had the set up for this completely wrong (from an indicator settings standpoint) which meant I got a signal that I shouldn't have (even though it was profitable) last week.

Have you returned the profits to the broker Paul? He will make every effort to trace the individual you took the money from by accident.

 

[JTrader]

This system is a simple example of how multi-timeframe confirmation can be used to
ensure you are looking to trade in the right (trend) direction.
It is in many ways open ended - RE: entry point, SL & take profit.

It would be good to know which entry & exit methods work consistently the best, andfor what reasons.

 

[Captain Currency]

On a long position do you buy on the break of the last high, or would you wait for a pullback following the breakout?

Thanks,
Harold

Hello Hcour,

Good question! Some pairs will give you an oppertunity to buy on a pullback after it broke the high - Eur/Usd is a typicall pair that will "allow" this. Other pairs like Gbp/Usd tend not to give great pullback oppertunities. I personall try NOT to enter at the highest price, I always look to try and get it a bit cheeper!!

Kind Regards,

 

[Captain Currency]

Have you returned the profits to the broker Paul? He will make every effort to trace the individual you took the money from by accident.

LOL, Yes give back or else buys us all a drink each!

Kind Regards,

 

[Trader333]

Tony / CC,

I will immediately enter a counter trend trade to ensure that I give back any profit that I didn't duly earn. I agree that it is just not acceptable to be making profit by accident and I will amend my ways with due effect


Paul

 

[Captain Currency]

Will Gbp/Usd cross soon on the the 5min sma and the last highs on the chart to set up all our Ducks?

Kind Regards,

 

[Trader333]

Will Gbp/Usd cross soon on the the 5min sma and the last highs on the chart to set up all our Ducks?

Kind Regards,

CC,

If it does then at what point would it be a valid entry ? The reason I ask is that I see sometimes you can get whipsaw around the MA


Paul

 

[Captain Currency]

CC,

If it does then at what point would it be a valid entry ? The reason I ask is that I see sometimes you can get whipsaw around the MA


Paul

Probably above 2.0271, or for the more agressive maybe 2.0257. Prices will be above the ma's on all 3 timeframes at that point, FTSE is slightly up and DOW looks like it will open positive also, so should all help a move up, but with every trade it will still be 50/50, its what you do after you enter that counts

Kind Regards,

 

[Trader333]

Still some way to go at the moment.


Paul

 

[Captain Currency]

Still some way to go at the moment.


Paul

Its called Patiences!

Kind Regards,

 

[Crap Buddist]

getting a long here frpm 2.0240 should make an attempt higher... just following this thread not got any ducks up on my screen, but up and away....

Also if all 3 ducks are lined up shouldnt it be buy first close above the 5 minute 60 MA? thats already happend hasnt it so we should be long riding the small whips ?

 

[Crap Buddist]

hmm ok, ive just put a 5 60 and 240 sma on a 1 hour chart to keep all on one, not quite there on the 4 hourly close above , hang on, should we be long 2.0200 already? 21/09/07 at circa 4 pm ? based on the 1 hourly close above the 4 hourly ?

subsequent price action has not been below the low of that bar , indicating a solid bar for a long entry ?

 

[Captain Currency]

getting a long here frpm 2.0240 should make an attempt higher... just following this thread not got any ducks up on my screen, but up and away....

Also if all 3 ducks are lined up shouldnt it be buy first close above the 5 minute 60 MA? thats already happend hasnt it so we should be long riding the small whips ?

Hello Crap Buddist,

I would really like to see it get above the last "decent" high, I use the "system" more as a guide to observing price movement with my own market knowledge, therefore if it just bobbing up and down, Im might air on the side of caution.

Kind Regards,

 

[Crap Buddist]

ducks not aligned yet ? hmm noting the time now and waiting for the cross to come in on the longer timeframe suggests it may kick off back end london close into late new yor and asia maybe ? sneaky whatsits....

good watchin it form. I think the longer 2 ma will cross at 3 pm uk, so then look for a 4 pm close above the red ma ?

 

[Crap Buddist]

Hello Crap Buddist,

I would really like to see it get above the last "decent" high, I use the "system" more as a guide to observing price movement with my own market knowledge, therefore if it just bobbing up and down, Im might air on the side of caution.

Kind Regards,

Cheers captain, know what you mean about systems and then look at the trading action and thinking, hmm they gonna run stops here first and position everyone short before they ramp it higher and do the stops to the upside..... I often end up thinking, well looks like thats playin out why am I having a system when I think price action outside it ?

you know what i dont even know if my MA's on the 1 hourly chart are right ? 60*5 mins inoto hourlies = 5 period 1 hour sma. think its right.....

 

[Captain Currency]

hmm ok, ive just put a 5 60 and 240 sma on a 1 hour chart to keep all on one, not quite there on the 4 hourly close above , hang on, should we be long 2.0200 already? 21/09/07 at circa 4 pm ? based on the 1 hourly close above the 4 hourly ?

subsequent price action has not been below the low of that bar , indicating a solid bar for a long entry ?

Hello Crap Buddist,

Yes, I think I follow your post. No problem putting those value sma's on a 1 hr chart.
Prices did indeed get above the 4hr sma on the 21st, price closed at 2.0176 above the 4hr sma - so we had 1 duck lined up, so prices would have also been above the 1hr sma also (2 ducks) then it was just a case of buying when prices got above the 5min sma and last high on the same chart - all 3 ducks lined up in the same direction.
Now depending on your style of trading your exits will differ. As I said in a few posts, I use the system more as a guide to price observation with my own market knowledge. I've had a few posts where people say "you MUST buy when this happens". You dont have to do anything- its just a simple guide to price.

Hope that helps

Kind Regards,