Best Thread The 3 Duck's Trading System

[MajorDutch]

well damn you all then I will reply to my own post! I bought the USD CAD at 14.27 GMT +40 TP -20 SL. Got stopped out. Stochastics prior looked bad with a lot of reverse divergence showing. ho hum.

 

[aspex]

I am on Cable watch.

Missed GA at 1.786 as I was not available (need some sleep)

 

[Nigel P]

Hello Everyone

I am about to take a short on the EUR GBP using the 3 Ducks system.

Nigel P

 

[neil]

Show what are the other two charts are showing?
Then explain why you will try a short.
Good luck

 

[Nigel P]

Hi Neil

Thought the move up this morning was contrary to the 4 hour trend and thought if the 3 ducks lined up it might be a good oppotunity to short the pair back into the resumption of the prior trend.

The 4 hour showed a bounce back after a large move up; the 1 hour challenged the 1hr sma but failed to establish itself above it.

Now though price is having trouble with the 4700 level so I am exercising caution.

Nigel P

 

[blancspa]

8700?

yes, looked decent enough to go for it, however I am out for +20 as sort of triangle forming up now, and price not breaking 8700.
I am sort of watching cable still, looks interesting

and USD/CHF double top, as USD/CAD spiked above resistance, and retraced quickly.

what do you think?

 

[Nigel P]

Sorry, yes 8700. I have to rush because my work doesnt let up. Sometimes I think if I had more time to think about my trading it would improve dramatically!

Yes I was wary of the 8700. Bailed out at break even. Was worth a go though.

Will have to leave looking at cable, etc till later when I get home! Good luck though!

Nigel P

 

[Nigel P]

Hi Everyone

Just triggered a short on USD JPY using 3 ducks.

Thought the 4 hour is showing a clear down trend; appeared to be indecision on the 1 hr (hoping for it to turn down) and price crossed the 5 min sma and broke previous low.

I am going to target the 89.13 level. USD news out at 3.00 GMT though so will watch closely.

I hoep this one works out.

Nigel P

 

[Nigel P]

EUR GBP was nice this morning. Think that was the move I was looking for yesterday afternoon. Needless to say I wasnt on it

Can't take every trade!

Nigel P

 

[blancspa]

come on yeeennn yyyyiiihaaaa
there is no way yankees sold more than 300k houses in dec , unless they give them away for chrismas

 

[Da.DesiTrader]

Has anyone backtested this with MT4 or IG/Proreal time to watch for a setup at specific timeframes?

I have done some visual eyeballing and seems like, GBP/JPY works best 6AM onward if at least 2 ducks are lined up and you go long/short at high/low swing on the other side of 5M 60SMA.

You get some no trade days, but the ones you got, the majority were profitable. I just hope if there is a way to backtest it over a longer period on different pairs, with set stops and targets.

Any coders out there?

 

[goldsmith]

Has anyone backtested this with MT4 or IG/Proreal time to watch for a setup at specific timeframes? ...

Well...I have not but this is one of oldest and still alive thread in this forum... maybe there IS reason for that!

 

[Da.DesiTrader]

Well...I have not but this is one of oldest and still alive thread in this forum... maybe there IS reason for that!

I suggest you read my post again. Just to clarify, I love this system and it has worked for me quite a few times.

I am referring to backtesting with reference to specific timeframe.

Example:

1. 6AM UK with 40 SL and 90 TP on EUR/USD
- Check (VIEW the DUCKS at 6AM - the orders may execute anytime if conditions met) - if ducks are in order (last duck in proximity and will have to come in order if limit buy/sell were to hit).
- Results over past 2 years.

2. 2AM UK with 40 SL and 90 TP on EUR/USD
Same logic as above.

So on and so forth with different timeframes and with different SL and TP settings, to which one has optimised probability for winners over losers. Theoratically this can then be automated as well.

 

[neil]

I suggest you read my post again. Just to clarify, I love this system and it has worked for me quite a few times.

I am referring to backtesting with reference to specific timeframe.

Example:

1. 6AM UK with 40 SL and 90 TP on EUR/USD
- Check (VIEW the DUCKS at 6AM - the orders may execute anytime if conditions met) - if ducks are in order (last duck in proximity and will have to come in order if limit buy/sell were to hit).
- Results over past 2 years.

2. 2AM UK with 40 SL and 90 TP on EUR/USD
Same logic as above.

So on and so forth with different timeframes and with different SL and TP settings, to which one has optimised probability for winners over losers. Theoratically this can then be automated as well.

Don't pollute this thread with variations otherwise it deviates from the purpose of this thread - to keep trading the method (A) to get better at it and (b) assist newer traders to become au fait with it.
Why dont you start another thread called "variations of three ducks" or some such.

 

[Nigel P]

So my yen dollar trade stopped out. Had moved my stop to 89.55 above the negative trend line hoping this might act as resistance. I suppose I will be told not to trade when news is out. Fact of the matter is that whether trading before news or staying clear I can't seem to get a profitable trade at the minute. Very disheartening, 2:1 r v r seems like a pipe dream at the minute. And I stick to the rules! Tomorrow's another day I suppose.


Nigel P

 

[Da.DesiTrader]

Don't pollute this thread with variations otherwise it deviates from the purpose of this thread - to keep trading the method (A) to get better at it and (b) assist newer traders to become au fait with it.
Why dont you start another thread called "variations of three ducks" or some such.

Nigel I am not trying to make any variations. THE METHOD IS SAME, and MANY THANKS TO CC for that.

I simply asked if someone has tried to back test to find out the following:

1- Are there any optimum timeframes for trading this method.
2- Are there any optimised SL and TP levels based on historical performances.
3- Point 1 and 2 above and their performance by major currency pairs.

This may help someone like me to try to stick to those optimum timeframes, pairs and be mindful of SL and TPs (ie, try to manage if price above optimised TP or try to rethink if SL based on the chart is under optimised SL to allow for spikes perhaps).

Captain, if you think I am diluting your thread, please let me know and my apologies in advance.

 

[blancspa]

Lol

Da.DesiTrader have you read the tread from page 1? If not, do so, or request an ebook.

 

[Da.DesiTrader]

Lol

Da.DesiTrader have you read the tread from page 1? If not, do so, or request an ebook.

I have read the book, but admittedly not all the thread from start. I cannot do intraday, therefore the 7AM to 4PM GMT, is too big a time-frame.

Know what, let's just bloody drop it. I might just go to Andy's mentoring sessions.

Any of you attended ?

 

[Nigel P]

I didn't say anything about variations. I just said I was annoyed at ny dollar yen trade stopping out!

Nigel P

 

[blancspa]

I have read the book, but admittedly not all the thread from start. I cannot do intraday, therefore the 7AM to 4PM GMT, is too big a time-frame.

Know what, let's just bloody drop it. I might just go to Andy's mentoring sessions.

Any of you attended ?

Unfortunately I dont know about Andy`s mentoring sessions

you dont have to do it intraday, I believe it had been said here about incorporating the 3 ducks into your own trading perspective I believe