Best Thread The 3 Duck's Trading System

[lbranjord]

Anyone else have a problem with jpy pairs and cad pairs? I don't trade CAD/JPY or USD/JPY or USD/CAD all that often because they just never work out well with any of my systems. They certainly have personality. I think JPY is the main culprit.

I managed to have one successful ducks trade a week or two ago on Cad/jpy but usually they just don't work out.

 

[Captain Currency]

:whistling Anybody take advantage of Usd.Chf today? :whistling

 

[christG]

Hello Captain C,

I was already watching this pair 2 days ago. Smaller move from +/- 1.1400 to 1.1300. Too bad I didn't take it

 

[4xpipcounter]

Keep your emotions on an even keel. No big deal. The next great opportunity will present itself.
This is part of that long road in learning.
You may want to specialize in one currency. OTOH, I track 28 pairs. My 2 favorites are the GBP/USD and the GBP/JPY. If they don't give me what I'm looking for, then I go shopping.

Well at least ive skipped the backtesting bit so thats a start! Only forward testing.

I dont know if im making it hard for myself but im watching 7 pairs. Now, before everyone jumps overboard, my reasoning for this is i figured, i only have an hour to trade in the morning so to give myself the best opportunity of making a trade i need to see more pairs. Or is this not recomended?

The problem im finding is im missing some trades because im looking at another pair. Like this morning ive just missed the USDJPY sink into oblivion and now im annoyed becasue i should have been on top of that!

 

[4xpipcounter]

I've been reading over some of the posts in this thread. Is the 3 Ducks some sort of proprietary indicator, or is it the essence of a whole trading system?

Many JPY crosses have been offering 3Ducks this last day

 

[Tenapenny]

I've been reading over some of the posts in this thread. Is the 3 Ducks some sort of proprietary indicator, or is it the essence of a whole trading system?

Email Andy for the e-book. http://captaincurrency.blogspot.com/2010/06/3-ducks-take-advantage-of-usdchf-trend.html

 

[bangkoker]

Hello, this set of posts is excellent and am currently rereading and experimenting with, once I am fully up to speed I will no doubt do the personal training session as the reviews are very good.

As for targets and stops.. do people tend to go for a specific number i.e 40 pips profit, with a stop loss of 20 or is it more that the 'natural' stop is a previous high low (or the chart breaking the 3 duck rules) and then you calculate if a profit of 2 to 3 times is achievable?

Does anyone know what I mean? I am used to FTSE and having a fairly fixed number of points stop and then if I was right on direction, slowly locking in profit and if away from computer incorporating a trailing stop.

I am reading through again, so sorry if I am asking silly questions..

 

[christG]

As for targets and stops.. do people tend to go for a specific number i.e 40 pips profit, with a stop loss of 20 or is it more that the 'natural' stop is a previous high low (or the chart breaking the 3 duck rules) and then you calculate if a profit of 2 to 3 times is achievable?

Does anyone know what I mean? I am used to FTSE and having a fairly fixed number of points stop and then if I was right on direction, slowly locking in profit and if away from computer incorporating a trailing stop.

I am reading through again, so sorry if I am asking silly questions..

I would suggest the previous high or low as a stop. But once you have that number, you can used it as a trailing stop for that trade? Or adjust your stops on a daily basis, but than you would be stopped out regularly I'm afraid.

 

[sirspike]

what pairs are people concentrating on at the moment? I took some pips on the eur/gbp this morning.

anyone got a chat room on skype open to discuss pairs they are watching and trades during the daytime??

 

[4xpipcounter]

Someone else was looking to open a chat room on Skype. I was wanting to join, but the software for Skype is not compaitble on my new computer, which is what I use to trade on.

 

[sirspike]

what o/s you running then? as skype is compatible with windoze and mac there is also a version for Linux?

 

[4xpipcounter]

Mine is Windows 7. I might take my computer to my technician and have him change it for me. I have had other issues.

 

[donovan5]

Good week for me on the ducks. +163 pips that was over 8 trades 4 wins 4 losses.

NFP tomorrow so I won't be trading,very happy with this week after a couple of downers.
Picking a good strong trend is very important I think and thats what I'm getting better at,rather than just going with anything that the ducks show

 

[lbranjord]

Good week for me on the ducks. +163 pips that was over 8 trades 4 wins 4 losses.

NFP tomorrow so I won't be trading,very happy with this week after a couple of downers.
Picking a good strong trend is very important I think and thats what I'm getting better at,rather than just going with anything that the ducks show

Nice work Donovan. BTW, where is Luton?

 

[lbranjord]

Nice work Donovan. BTW, where is Luton?

One more thing. Consider trading news days with half lots. I use the ATR of the pair normally but for NFP or big moving pairs I cut that down. Volatile days are actually my best.

 

[donovan5]

Nice work Donovan. BTW, where is Luton?

it's about 30 miles north of London

 

[victoria98]

Thanks for sharing. You amazed me with the simplicity of the method. The charts look so clean and beautiful. Thanks and I am looking forward for such great tips.

 

[forexkunta]

I don't know if anyone has noticed this or not, but most pairs will have an entry at 11gmt +/- 30 mins, so planning a trade gets pretty easy, and predictable.

 

[Tenapenny]

A cheeky 35 pips this morning on eur/usd, just off to spend it now (I know, there's no hope I'm afraid!). Thanks to Andy.

 

[Tenapenny]

A cheeky 35 pips this morning on eur/usd, just off to spend it now (I know, there's no hope I'm afraid!). Thanks to Andy.

Should have locked some profit in and set orders. Doh!