Best Thread The 3 Duck's Trading System

[Da.DesiTrader]

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

Nigel P

Sorry I mixed up with Neil

 

[tonybull21]

Anyone in for AUDUSD earlier?

 

[Nigel P]

Hi Tony

No, didnt get that one. I see it is retracing back up a bit now. Hopefully it turns back down for you.

I am watching EUR USD intently this morning. I think I will be in for a short around the 1.3889 mark if it falls that far.

Nigel P

 

[LittleKnown]

There was a cable short between 9 and 10am this morning

 

[jimbo22]

There was a EUR GBP long at 8 am this morning,

would have been good for best part of 50 pips at the mo

 

[tonybull21]

Hi Tony

No, didnt get that one. I see it is retracing back up a bit now. Hopefully it turns back down for you.

I am watching EUR USD intently this morning. I think I will be in for a short around the 1.3889 mark if it falls that far.

Nigel P

Hopefully!

I've set the trade up using the daily chart as don't get a chance to look at it during the day so hopefully it's sorted itself out by the time I get home.

I've also started using IG as you can trade for just 10p a point so I can afford the bigger stops.

 

[LittleKnown]

Very good day for the ducks today, i've been busy all day, so missed everything

 

[MajorDutch]

cable trade just triggered went in with 20 SL 40 TP. wish me luck

 

[MajorDutch]

16 pips up moved SL to b/e.

 

[MajorDutch]

stopped out at break even. looking for retrigger

 

[cambridgedon]

Are you sure a cable trade was triggered?? All three timeframes are heavily negative and have been for some time.

 

[MajorDutch]

all 3 t/f's negative, previous high / low on 5M chart broken, this is a trigger short unless I am a numpty and have read the manual wrong.

 

[Captain Currency]

Very good day for the ducks today, i've been busy all day, so missed everything

Hello LittleKnown,

Great trade on the Aussie dollar earlier when your ducks lined up.

 

[cambridgedon]

Perhaps Captain C will comment, but on my reading of the system a trade would be triggered on the 5 ma being crossed in the same direction as the other 2 TF's. Whilst you are theoretically right about a low being broken I wouldn't want to enter a short after a fall of 120+ points. I suspect this is not how the system is meant to work...

 

[Captain Currency]

Perhaps Captain C will comment, but on my reading of the system a trade would be triggered on the 5 ma being crossed in the same direction as the other 2 TF's. Whilst you are theoretically right about a low being broken I wouldn't want to enter a short after a fall of 120+ points. I suspect this is not how the system is meant to work...

Hello Cambridgedon,


The 3 Ducks Trading System will initially allow a trader to correctly observe trends and price action within trends. This will then allow the trader to make better trading decisions. The 3 Ducks Trading System is not a mechanical system that gives buy/sell signals nor should it ever be. The trader’s discretion is extremely important when using the 3 ducks method. The 3 ducks method is best used as a guide in addition to your own market knowledge and observations. In other words the ducks do 50% of the work and the trader does the other 50% of the work to make a successful and profitable trading relationship.

Andy

If I got a 3 Ducks "signal" and the currency pair had already moved +120 pips in a day I would be using my discretion and thinking that it may not go too much further today.

 

[blancspa]

what the xpected win/loss ratio I could xpect? without backtesing

 

[cambridgedon]

Captain, thanks for the comment. sh5467 I think that's the point. Any system also needs to use other tools such as S/R. (+ judgement as Captain rightly reminds us).

 

[The Stockman]

Hello Captain,

A similar question with a slightly different twist.

How often would you re-enter the trade, the the 4H & 1H are still synchronised but the 5M keeps consodiating in a tight pattern.

This is assuming just a 35 - 50 pip move within the range.

Thanks

The Stockman.

 

[Tenapenny]

Hello Captain,

A similar question with a slightly different twist.

How often would you re-enter the trade, the the 4H & 1H are still synchronised but the 5M keeps consodiating in a tight pattern.

This is assuming just a 35 - 50 pip move within the range.

Thanks

The Stockman.

This is where you make the system your own, depending on what type of trader you are. For example, I use the 1hr chart to plot S&R and occasionally look at a 20ema and 5ema on the 1hr and 4hr, then set orders and stops within my rules. Others will do things that suit them but for me, doing it this way, I don't have to stare at the sceen and can move on to something else, knowing I don't need to keep checking the 5m chart checking the patterns.

 

[The Stockman]

Tenapenny,

Thanks for the insight.

The Stockman