Best Thread The 3 Duck's Trading System
- Thread starter Captain Currency
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Captain Currency
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Good afternoon Duck Hunters,
Hopefully everyone has got their 3 ducks ebook, if not just send me an email.
I do be very busy during the day and can't always reply to emails straight away or answer questions.
Nice oppertunity on cable (Gbp.Usd) this am when all your ducks lined up for a sell
Hopefully everyone has got their 3 ducks ebook, if not just send me an email.
I do be very busy during the day and can't always reply to emails straight away or answer questions.
Nice oppertunity on cable (Gbp.Usd) this am when all your ducks lined up for a sell
CC; Received the guide earlier, thank you!
I've implemented the strategy in MATLAB, which queries the fibre (EURUSD) market every 30 seconds or so, recalculates the three SMA's and makes a buy/sell/neutral call. I may expand this to run the strategy on a range of markets.
Two aspects I am interested in; Where do you tend to set your limit? Appreciate setting a stop at the level of the previous 5 minute high, however on the limit side, do you tend to let the trade run, use a trailing stop, etc?
Other one was tweaks to getting a better signal - I've implemented a basic rate of change indication in addition to the signal, looking at the percentage change over the preceding three minutes and using a suitable cut-off to confirm the signal. I'm wary of over-fitting a strategy to the data, however I've noticed that for certain markets conditions, particularly longer term trend changes, you can have a period of high-sensitivity.
Cheers though, this forum/method/guide finally motivated me to give it a crack. So far have managed to ride a few good trades and pickup ~40 pips today total
I've implemented the strategy in MATLAB, which queries the fibre (EURUSD) market every 30 seconds or so, recalculates the three SMA's and makes a buy/sell/neutral call. I may expand this to run the strategy on a range of markets.
Two aspects I am interested in; Where do you tend to set your limit? Appreciate setting a stop at the level of the previous 5 minute high, however on the limit side, do you tend to let the trade run, use a trailing stop, etc?
Other one was tweaks to getting a better signal - I've implemented a basic rate of change indication in addition to the signal, looking at the percentage change over the preceding three minutes and using a suitable cut-off to confirm the signal. I'm wary of over-fitting a strategy to the data, however I've noticed that for certain markets conditions, particularly longer term trend changes, you can have a period of high-sensitivity.
Cheers though, this forum/method/guide finally motivated me to give it a crack. So far have managed to ride a few good trades and pickup ~40 pips today total
hey guys
quick question
I was looking at the USDCHF this morning and thought I saw an opportunity when the 5 min chart went above the MA.
The candle went beyond the last significant high so I placed a buy order and the market just dropped and stopped me out.
Did I do anything wrong? Or was I unlucky?
quick question
I was looking at the USDCHF this morning and thought I saw an opportunity when the 5 min chart went above the MA.
The candle went beyond the last significant high so I placed a buy order and the market just dropped and stopped me out.
Did I do anything wrong? Or was I unlucky?
Hmm, I think I know what I did but confirmation would be cool
The 5 min 60 SMA was moving in the wrong direction. I took the buy because the price went above the SMA.
So was the trend in the wrong direction then?
You were unlucky...the trend is in the right direction...4hr/1hr.. both up, so no problem there.
Your stop was probably too tight...price only broke below last swing low by 1 pip on the
5 min chart..after your entry.
Thats trading for you..playing breakouts can skew your R/R...maybe next time adjust your pos size, and allow a bit more room for the pullback...
Interesting to note that after price broke back above your entry level once again...it retraced and pivoted to the exact pip at 1.1189 seen on the 5 min 0940 bar.
So this could have been a nice area for a re-entry....price now + 60 pips from your entry level...frustrating game what !!...
Better luck next time
Cheers Jimbo
After I had read that about 7 times I understood it
I have been caught out a couple of times now with slightly too short S/Ls and I am sure it is the fact that my bank balance doesn't match my mininum risk and lowest cost per pip.
I have just finished riding the USDCAD wave so got my money back. My problem now is having the bottle to sit in trades and not bottle out of them when they look to go the other way when the candle changes colour
Cheers Jimbo
After I had read that about 7 times I understood it
I have been caught out a couple of times now with slightly too short S/Ls and I am sure it is the fact that my bank balance doesn't match my mininum risk and lowest cost per pip.
I have just finished riding the USDCAD wave so got my money back. My problem now is having the bottle to sit in trades and not bottle out of them when they look to go the other way when the candle changes colour
Aye...being under capitalised doesn't help for sure....obviously we want price to break above the last swing high and never look back...but generally this isn't usually the case.
Maybe you could try waiting for the retrace after the break...and if price pulls back to your entry level or below and then reverts back in line with your intended trade...
you will have a higher swing low to get in with a tighter stop for lower risk...
But a higher risk of being stopped out..lol
At least you wont be risking as much capital to catch a good runner.
It's all a matter of experiment....Good luck mate, you'll get there.
Hello all,
been a while since i looked into this thread, it's huge now. I've trawled through as many pages as i can to see if anything has changed in this good system. couple of questions.
1) do we still buy/sell when price has crossed all ducks and the LAST high/low?
2) how are most operating a SL, When it breaks 5min SMA? 30pips?
Thanks
been a while since i looked into this thread, it's huge now. I've trawled through as many pages as i can to see if anything has changed in this good system. couple of questions.
1) do we still buy/sell when price has crossed all ducks and the LAST high/low?
2) how are most operating a SL, When it breaks 5min SMA? 30pips?
Thanks
Nothing has changed with the system,though if you take the 1on1 with CC he gives you a slight variation which means you don't have to be constantly watching for an entry point.
He also gives you some pointers on stop losses.
I wont say anymore as it wouldn't be fair to him.
I personally use a SL of about 20 pips It works against you sometimes (especially this week for me) but it stops you getting hammered when things go wrong.
On a personal note after an awful week the ducks have come good for me today 80 pips banked and 40 rolling
I have tried to trade a couple of ducks and got stopped out. I cannot really trade during the day because I am working.
Is the ducks system not really useful to people who cannot trade during the day?
I was thinking about the 1-2-1 training but if it has to be during the day I think I would be wasting my money
Is the ducks system not really useful to people who cannot trade during the day?
I was thinking about the 1-2-1 training but if it has to be during the day I think I would be wasting my money
What time do you leave for work?
If you could put your trades on at around 8.30 with stops and possibly take profits set it could work for you.
It works best between the London/New york sessions so if you can't fit around that then it's probably no good for you.
I work early mornings so usually end up looking for trades after noon,though today as an experiment I put them on before leaving for work (about 5.30 am) and it worked out great.
I leave around 7:45am for work and normally don't arrive until 8:45am. At the end of the day I finisharound 5pm and get back around 6pm.
If this is no good for the ducks then I will troll the forums and look for other methods of trading to fit my working hours. I am currently reading a massive post started by trader dante that apparently suits evening trading (I am in the UK).
If this is no good for the ducks then I will troll the forums and look for other methods of trading to fit my working hours. I am currently reading a massive post started by trader dante that apparently suits evening trading (I am in the UK).
nkingy2003
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Well after reading this thread (obviously not the entire thing) I have send the captain an email and Im looking forward to recieving the ebook.
I am kind of jumping the gun a bit here having not recieved the ebook yet but would you guys say you can trade consistenly successfully with this method?
It says on the site that captain currency trade full time for a living buy it would be interested to know if this is the only trading method he uses? This may have been mentioned previously in this thread but I have only read about 30-40 pages on this 170 page thread!
Looking forward to the ebook!
I am kind of jumping the gun a bit here having not recieved the ebook yet but would you guys say you can trade consistenly successfully with this method?
It says on the site that captain currency trade full time for a living buy it would be interested to know if this is the only trading method he uses? This may have been mentioned previously in this thread but I have only read about 30-40 pages on this 170 page thread!
Looking forward to the ebook!
Its usefull for anyone, if you cannot be aware of the charts what you can do is to try to identify the probable target as R1/S1
