Best Thread The 3 Duck's Trading System

[shadowninja]

Ok, serious hat on here.

Question for Captain Currency. I've tried this system a handful of times and thank you for sharing the idea. Now has it failed and you've been stopped out? Each time I've tried, I've profited, which is frankly, quite rare. That's 100% success. Best bit is that it is pretty relaxing to trade the system. None of the seat of the pants stuff that I'm used to. It can't be luck because I am not a lucky person. So, has a trade resulted in loss?

Thanks.

-Darren

 

[Captain Currency]

Ok, serious hat on here.

Question for Captain Currency. I've tried this system a handful of times and thank you for sharing the idea. Now has it failed and you've been stopped out? Each time I've tried, I've profited, which is frankly, quite rare. That's 100% success. Best bit is that it is pretty relaxing to trade the system. None of the seat of the pants stuff that I'm used to. It can't be luck because I am not a lucky person. So, has a trade resulted in loss?

Thanks.

-Darren

Hello shadoninja,

Having read your post 3 times now, I still dont see what the question is, do you want to re-write the post in words I understand and not your own word?
Forget about messing with the system - stick to the ma's and timeframes, othewise we are talking about 2 different things!

Kind Regards,

 

[jayjay121]

hi captain currency, do you think your 3 ducks method could work with tick charts?
and also could it work for smaller time frames suitable for scalping?


jason

 

[shadowninja]

Sorry, I'm referring to your technique. I meant, has it ever failed you? I've done it a handful of times and profited each time.

 

[marketbreaker]

Took a short on AUD/NZD as price traded above 60 SMA then closed below (on the 5 min). Let's see how this turns out...

 

[marketbreaker]

Time to get out ...

 

[marketbreaker]

Trying again ... going long EUR/CHF as price traded back up the 60SMA.
SL is below recent low at 1.6618, looking to take profit at below one of the previous highs at 1.6644.

Let's see how this goes.

*Edit: Rates were indicated incorrectly as 0.6618 and 0.6644.

 

[marketbreaker]

Let's see what's happening here with cable GBP/USD.
It just broke the 60SMA on 5 minutes and that level also seemed to be a strong support for the whole of yesterday's (1 Oct) trading.

Going for a long with SL at 2.0402 and limit at 2.0436.

 

[marketbreaker]

Just as I entered the position some large sell orders were filled ... doesn't look too good!

 

[marketbreaker]

Trying again ... going long EUR/CHF as price traded back up the 60SMA.
SL is below recent low at 1.6618, looking to take profit at below one of the previous highs at 1.6644.

Let's see how this goes.

*Edit: Rates were indicated incorrectly as 0.6618 and 0.6644.

Got out of this position with +26 pips. Although it may look like I was stopped out, that did not happen in FXCM so you could say I got a little lucky? Or not? Remember, when you plots charts and trade on low time frames such as the 5 minutes, it is extremely important to understand what price is being quoted on your chart. Is it the Last Traded Price, Last Bid Price or Last Offer Price? Or something else? If you trade visually, always remember to use your broker's charting package rather than one from another service provider.

 

[marketbreaker]

Let's see what's happening here with cable GBP/USD.
It just broke the 60SMA on 5 minutes and that level also seemed to be a strong support for the whole of yesterday's (1 Oct) trading.

Going for a long with SL at 2.0402 and limit at 2.0436.

Didn't get so lucky with this one.
Out at -24pips.

 

[Captain Currency]

hi captain currency, do you think your 3 ducks method could work with tick charts?
and also could it work for smaller time frames suitable for scalping?


jason

Hello Jason,

Never tried either! If thats your cup of tea, why not forward test it and see what happens. I like the whole Risk v Reward edge in trading, so scalping may not be my cup of tea


Kind Regards,


Captain Currency

 

[Captain Currency]

Sorry, I'm referring to your technique. I meant, has it ever failed you? I've done it a handful of times and profited each time.

Hello shadowninja,,

Has it ever failed me? You mean, have I ever lost a trade? YES, of course! Does it have losing runs and trades? Yes of course. Does it make more net overall for me? Yes.
Have a read of the system, I think i said all this in it.

Here is something to get your brain working
Last Monday I had 2 trades, 1 trade lost -25 pips the othe trade made +20 pips (net -5 loss on PIPS!) the thing about it is, I made a nett $ profit!
So it not about winners or losers, its about profit in $





Kind Regards,

 

[jayjay121]

"Here is something to get your brain working
Last Monday I had 2 trades, 1 trade lost -25 pips the othe trade made +20 pips (net -5 loss on PIPS!) the thing about it is, I made a nett $ profit!
So it not about winners or losers, its about profit "


How could this be?, did you pair trade them off against each other?, or was +20 pips position larger in size than the other?.................be interested to hear about your money management rules for the system anyway?

great thread by the way,


jason

 

[Captain Currency]

Didn't get so lucky with this one.
Out at -24pips.

Hello Marketbreaker,

Thanks for the e-mail. You certainely like to trade & post! One small bit of advice I would give you is, I said it on the system description that it works better in the European/US sessions, I noticed from your last trade on cable that the trade would have been taken the Asian session. Also, use the system as a guide in addition to your own market knowledge, lots of news out this week, will there be position jockeying? I think so

Kind Regards,

 

[jayjay121]

by the way does the three ducks system create enough trades each day to trade it intraday and if so how many oppotunities on average each day???
And do you have it programmed so it alerts you when the oppotunities are there or do you manually monitor all currencies on your screens???


thanks again if you can answer.


jason

 

[shadowninja]

Hello shadowninja,,

Has it ever failed me? You mean, have I ever lost a trade? YES, of course! Does it have losing runs and trades? Yes of course. Does it make more net overall for me? Yes.
Have a read of the system, I think i said all this in it.

I will re-read!

One thing I noticed was that you should still trade in the direction of a trend. So, if the 60MA on 5M is falling while the other two are rising, when the 5M price goes above the 60MA line, it doesn't seem as strong a climb. (Reverse for ducks.)

 

[marketbreaker]

Hello Marketbreaker,

Thanks for the e-mail. You certainely like to trade & post! One small bit of advice I would give you is, I said it on the system description that it works better in the European/US sessions, I noticed from your last trade on cable that the trade would have been taken the Asian session. Also, use the system as a guide in addition to your own market knowledge, lots of news out this week, will there be position jockeying? I think so

Kind Regards,

Hello Captain

Thanks for the advice I appreciate it. I should probably have avoided the Tokyo drift (transition to London) when trading these breakouts.

Regards
M

 

[nine]

Didn't get so lucky with this one.
Out at -24pips.

Marketbreaker's post above raises a question for me.

Although price was above the 240m 60sma (long) and above the 60m 60sma it was coming down towards the 60m 60sma and a prior low ... not leaving the 60m sma in an upwards direction. If that was a valid trade then any time price goes through the 5m 60sma while the other two smas are below price would be valid. Is it?

 

[marketbreaker]

Watching USD/CHF now ... waiting for the 4h to actually close above the MA before taking an entry. We may be able to get a bid at 1.1720, but let's see.