Best Thread The 3 Duck's Trading System

[Captain Currency]

Hello Nunrgguy,

I think the problem with some people looking at this is that they are looking at it too deeply and are unable to see the obvious. Therefore to them it isn't obvious at all. Yeah would agree there, but its only obvious when you have been doing it for X amount of time ie chart/price watching. Give the 3 Ducks principle to any trader with a few years under their belt and they would probably say that it confirms what they are seeing, so in that case its a useful tool. It probably is not as obvious to a newbie just yet, but use it daily and it gets you understanding whats happening more clearly. And as a newbie one of your goals should be to study price and make better trading decisions from it.

Things to consider (I think) are trend, Yep and lack of trend. momentum, Yep and lack of that too. hourly breakout, Just show me the last few candles on the 1hr and I get a picture of what happened, one piece of the jigsaw (what's the 5 min chart really showing you - where is the previous swing high and low?). Yep we are still just observing price in relation to what happened before. Add S/R (i.e. don't go long into resistance etc) Why not This was a decent level of resistance on eur.usd from last weeks tradehttp://www.trade2win.com/boards/772562-post829.html. and you'll not go far wrong. True,

Andy

 

[Captain Currency]

Hello Blancspa,

Post the 4hr, 1hr and 5min chart of eur.usd and talk us through what you see on each chart using the 3 Ducks. If there is a potential entry tell us where you would be long/short, possible stop-loss location and possible target.

I want to see what impact your studying over the weekend had on you :smart:


Andy

 

[blancspa]

I am long on 5 min , 2:1 risk reward , from 1.3855, it hit my sl - profit 22 pips (I dont think thats any good for 25 pip risk)

I am also long on longer timeframe 4hrs , with 200 pips sl, just to prove to JTrader that the direction of trade matters when you do your analysis (he said that think of entering the trade, then do the opposite, which I did and I bought when was going down).

 

[blancspa]

the remaining evidence

 

[Captain Currency]

I am long on 5 min , 2:1 risk reward , from 1.3855, it hit my sl - profit 22 pips (I dont think thats any good for 25 pip risk)

Thanks for posting blancspa,

Price is below the 1hr sma, you should not be long.


Andy.

 

[blancspa]

Yep, discretionary trading I suppose

 

[Captain Currency]

Are you ready?

 

[blancspa]

hang on, you didnt see the best of me yet trading 3 ducks

I will enter at 1.3901, when 1hr catch up with the rest, 100 pip sl on 1hr , the 22 pips is only the pocket money
flying saucer

 

[SvenFoster]

Are there no followers of the duck? I would have thought (after the event) that there would have been posts galore, certainly since it looked good for euro and cable etc.

I'm starting to think that its "fill in the gaps with your beliefs" method may suit me so was hoping the thread wasn't dead.

any "traders"?

 

[subaszabolcs]

Hello
I do not have 4 hour chart on Oanda, can i use 3 hour instead of 4?
Thank you, for your aswers,
Best regards for all

 

[aspex]

CC,
I can see the very good period since 20th May for Cable.
It seems there are very few opportunities in a year for this.
I do have a question which you probably have answered in the past.
Are we limited to currencies rather than Indices that do trade continuously if the futures are included (but I would agree affected opening and closing of physical markets)?

 

[of07923]

Cable good to go long... 3 duck's there.
Waiting for it to break the last major high @ 1.6673 (30th Oct).
CC suitable methodology?

 

[Captain Currency]

Are there no followers of the duck? I would have thought (after the event) that there would have been posts galore, certainly since it looked good for euro and cable etc.I'm starting to think that its "fill in the gaps with your beliefs" method may suit me so was hoping the thread wasn't dead. any "traders"?

Hello Sven, I think they get embarassed by posting their winning trades!

Hello
I do not have 4 hour chart on Oanda, can i use 3 hour instead of 4?
Thank you, for your aswers,
Best regards for all

Hello Sub, Not if you want to have the system in its "pureist" form.

CC,
I can see the very good period since 20th May for Cable.
It seems there are very few opportunities in a year for this.
I do have a question which you probably have answered in the past.
Are we limited to currencies rather than Indices that do trade continuously if the futures are included (but I would agree affected opening and closing of physical markets)?

Hello Aspex, only one way to find out, give it a lash!

Cable good to go long... 3 duck's there.
Waiting for it to break the last major high @ 1.6673 (30th Oct).
CC suitable methodology?

Hello of0, Me thinks for de benefits of me and all others on dis thread tat its compulsory for u 2:

1) stick up a 4hr, 1hr & 5min chart
2) tell us wat u c on each of d charts
3) tell us wat u is thinkin
4) tell us where u wud like to b enterin
5) tell us where u wud put ur stop-loss
6) tell us where u wud like to be exiting

and hopefully all de other boys n girls on this thread can do de same in de future. Dat way we can all move forward and get some bleedin action with the 3 ducks rather than talking bout them.


Have you seen TheBrambles post? Clever Chappie he is


Andy

 

[blancspa]

I follow 3 Ducks system and post results here:
http://www.trade2win.com/boards/psychology/62782-master-your-emotions-here-arrowd-2.html#post786252

FYI

 

[Captain Currency]

Hello All,

Just to let you know my posting on T2W is a little bit difficult at this prescent time because I keep getting this FOOKING MESSAGE every time I log into this site.


INTERNET EXPLORER CANNOT OPEN THE INTERNET SITE.
OPERATION ABORTED

If anybody out there is PC savy and knows how to fix this problem, can you please email me at: [email protected] Subject: T2W
or skype me, captaincurrency is my username.

No point in posting what I need to do on this thread as login in to T2W is near impossible.


Help greatly accepted.

Andy

 

[TheBramble]

He'll never know we singled him out.....

 

[Captain Currency]

OK, Bill Gates has just got off the phone to me. He said to download Internet Explored 8 and that should sort out the problem.

And my reputation button is working again, whoooohooooo, I probably wont use it .....

Andy

 

[aspex]

Hi CC. Does the Cable chart at 9th June 12:45 qualify as a 3 ducks set up?

 

[pseudo straddle]

Is that 12:45 GMT or your brokers time or your local time? If it is GMT it looks good for around that time.

 

[Captain Currency]

Hi CC. Does the Cable chart at 9th June 12:45 qualify as a 3 ducks set up?

Hi Aspex,

HOUSE RULES:

1) Post the 4hr, 1hr and 5min charts with sma's.

2) Tell me what you see and what your thinking.

3) Tell me your potential enteries, exits and stop-loss location.


Makes it a 100 times easiers and more educational for me and the others to be able to discuss the Ducks. :smart:


Andy