Best Thread The 3 Duck's Trading System

[neil]

A potential intraday trade set up

3 Ducks set-up:
EUR.GBP
240min - Price below sma
60min - Price below sma
5min - Looking to sell when price crosses below the 5min sma and low at 0.8690
(see chart)

A 20 pip stop-loss for a 40 pip reward.

Andy.

Excellent post and example of KISS ! Why do people insist on tweaking it🙂

 

[blancspa]

anyone`s go that eur/jpy selloff?

 

[neil]

Is this the sort of set ups you guys trade (Sorry for the 21 moving average - noticed it should have been 60..but the ideas is the same for discussion purposes)🙂

 

[blancspa]

A potential intraday trade set up

3 Ducks set-up:
EUR.GBP
240min - Price below sma
60min - Price below sma
5min - Looking to sell when price crosses below the 5min sma and low at 0.8690
(see chart)

A 20 pip stop-loss for a 40 pip reward.

Andy.

Hello CC
I have an important question regarding this settup. The price dropped from 8690 in the vicinity of 8670 area and the quicly rebounded to hit the stop loss. In case this happens (I see it many times), would it be wise to exit at the entry, somwhere between entry and stop loss or wait for the stop loss to be hit?

Tx

 

[leovirgo]

A potential intraday trade set up

3 Ducks set-up:
EUR.GBP
240min - Price below sma
60min - Price below sma
5min - Looking to sell when price crosses below the 5min sma and low at 0.8690
(see chart)

A 20 pip stop-loss for a 40 pip reward.

Andy.

Nice and simple. 👍 I use a similar concept - multi-TF alignment combined with my own vwap thesis.

I took a short on EG at 8698, posted entry here in my thread. My SL was 14 for a TP of 30. I ended up bagging +25 when it hit current day's vwap and bounced back.

 

[Captain Currency]

Hello CC
I have an important question regarding this settup. The price dropped from 8690 in the vicinity of 8670 area and the quicly rebounded to hit the stop loss. In case this happens (I see it many times), would it be wise to exit at the entry, somwhere between entry and stop loss or wait for the stop loss to be hit?

Tx

Good traders think for themselves, what do you think you should do Blancspa?
There are no places to hide in trading. When your c0ck is on the block your always going to be exposed. Moving stop losses to break even or 50% will have an impact on your bottom line in the long term. The wise thing to do would be to study what kind of an impact this will have on your bottom line.

Andy

 

[Captain Currency]

So my question is, If we IMAGINE that those bars were above the SMA and did not have the relevant structure to count as a low , would the previous low now become the set of bars encapuslated by my first blue box giving a low of around 0.87 EVEN THOUGH this low was above the SMA (both then and now if price now dropped below SMA). Obviously if that were the case then if price now broke down below the SMA it would already fulfil the criterion of being below 0.87 as soon as it breaches the SMA.


Charlton

Hello Charlton,

My question to you is WHY? 😀

Why go to the trouble of having 3 charts on one screen, having radar screens and red and blue painted candles? its already simple, quick and easy to use. Well done on your efforts all the same.

Andy

 

[blancspa]

Good traders think for themselves, what do you think you should do Blancspa?
There are no places to hide in trading. When your c0ck is on the block your always going to be exposed. Moving stop losses to break even or 50% will have an impact on your bottom line in the long term. The wise thing to do would be to study what kind of an impact this will have on your bottom line.

Andy

I would have taken the +20 and run at the sign of reversal. Why?
Because the daily trend was up, it was about 3 afternoon. The pair had been dropping for past few days and somwhere they ll be looking to take profits before the weekend.
I would look for less risky business with better R:r prospects.
Tx for reply

 

[Captain Currency]

I get asked this question all the time; Can The 3 Duck's Trading System be automated and turned into an Expert Advisor (EA)?

My reply is;
I'm 100% not interested in converting the 3 ducks into an expert advisor, thats not what it is all about. For a start its not a system in the mechanical sense, its more a set of guidelines to firstly teach you how to observe price action and trends correctly. And secondly it can then be used as a logical set of guidelines to base your trading decisions on in addition to your own market knowledge, analysis and views.

If you understand the 3 ducks you can view a chart and within 10 seconds you can say if you want to buy, sell or be on the sidelines, so no need for a EA its already semi auto. A good trader using the 3 ducks method will make up the remaining part of this relationship.

Andy.

 

[Captain Currency]

I would have taken the +20 and run at the sign of reversal.
So you answered your own question. That is your choice, every trader will manage the position as they see it.
Why?
Because the daily trend was up, The 240min trend is down, that is what The 3 Ducks method is interested in, that is why we scan the 240min chart first.
it was about 3 afternoon. Still enough time in the day to move 40 pips.
The pair had been dropping for past few days and somwhere they ll be looking to take profits before the weekend. We never really know where someone may want to take profit, weekend or no weekend, trade the chart.
I would look for less risky business with better R:r prospects. A good logical trade set up that was.
Tx for reply Your welcome

They are just my opinions of course, and they are worth excatly how much you paid for them 😛

Andy

 

[rathcoole_exile]

If you understand the 3 ducks you can view a chart and within 10 seconds you can say if you want to buy, sell or be on the sidelines, so no need for a EA its already semi auto. A good trader using the 3 ducks method will make up the remaining part of this relationship.

but Sergeant Andy,
I'm a bit too lazy to do my own thinking, and certainly too fick. So if you won't create an EA, perhaps you can come round to my house and put my trades on for me ?


:whistling



or better yet, just put the trades on yourself and just send me the profits ? Deal ?

 

[blancspa]

😆
What`s EA? Never said anything about EA. Is that the Ea`s sports game or something?

 

[nunrgguy]

EA = Easily Annihilated😆

 

[Captain Currency]

but Sergeant Andy,
I'm a bit too lazy to do my own thinking, and certainly too fick. So if you won't create an EA, perhaps you can come round to my house and put my trades on for me ?

I suppose I could do what Kim and Aggie do on How Clean Is Your House? but with your trading account instead of your house. After a few hours of hard work by me I will have a radiant sheen coming off your P&L.

Andy

 

[Tenapenny]

I suppose I could do what Kim and Aggie do on How Clean Is Your House? but with your trading account instead of your house. After a few hours of hard work by me I will have a radiant sheen coming off your P&L.

Andy

Captain Clean! 😉

On a more serious note. Years ago, when I was in sales, I saw quite a few homes in a state like this, usually with a few kids living there as well. Couldn't believe it the first time I saw it, but it is more common than you would think.

 

[Captain Currency]

Let's see if we can clean up today with 2 potential intraday trade set ups. They are both commodity currency, only take one of these trade set ups because you are buying the USD in both these trades. Stop losses and target and trade management is up to you as we all seem to do this part differently.

3 Ducks set-up:
Aud.Usd
240min - Price below sma
60min - Price below sma
5min - Looking to sell when price crosses below the 5min sma and low at 0.9061
(see chart)

3 Ducks set-up:
Usd.Cad
240min - Price above sma
60min - Price above sma
5min - Looking to buy when price crosses above the 5min sma and high at 1.0487
(see chart)

Andy.

 

[Captain Currency]

Ok so we put a shine on our P&L today using the 3 Ducks method. I sold the Aussie dollar and got 2.1 risk v reward.

Have a good weekend,

Andy

 

[MajorDutch]

great trade Captain! I admire your willingness to share your strategy and results with others.

 

[Captain Currency]

3 Ducks set-up:
Usd.Cad
240min - Price above sma
60min - Price above sma
5min - Looking to buy when price crosses above the 5min sma and high at 1.0487
(see chart)

Andy.

+100 pips on the Usd.Cad trade 😉

 

[MajorDutch]

anyone had a nice 3 ducks set up today?