Best Thread The 3 Duck's Trading System

[fayalac]

The only method that I have seen so far in the trading world that allows you to look for tops and bottoms, is the Elliott Wave Priciple.

And i dont like EW, so at some points i simply dont trade even with the 3 ducks lined.

 

[forexkunta]

Just out of curisoty, what don't you like about it?:?:

And i dont like EW, so at some points i simply dont trade even with the 3 ducks lined.

 

[Joel17]

This 3 Ducks System is Awesome, ive bin demo'ing the past few months, only on EUR/USD and GBP/USD as I would like to master these two currencies before I move on to others. Last month I made 610 pips (could have been much more) with only 3 losing trades between the two currency pairs, although there were a good few days where the 3 Ducks did'nt give me a signal. Greatest system i've seen yet, can't thank Andy enough for sharing.

 

[fayalac]

Just out of curisoty, what don't you like about it?:?:

Well, in fact it depends on the way you read it, but as any oscillator it can become extremelly efficient when we have a ranging market but when we have a long and steadily sustained trend it will be giving me many signals about a probable trend change.

In general therms, i dont like oscillators and the only one i always use is RSI, maybe its my personal preference but i avoid oscillators.

Any trading method must first fit your personality, you may like it, and honestly speaking i dont like oscillators.

 

[fayalac]

This 3 Ducks System is Awesome, ive bin demo'ing the past few months, only on EUR/USD and GBP/USD as I would like to master these two currencies before I move on to others. Last month I made 610 pips (could have been much more) with only 3 losing trades between the two currency pairs, although there were a good few days where the 3 Ducks did'nt give me a signal. Greatest system i've seen yet, can't thank Andy enough for sharing.

A gree. :clap:

 

[forexkunta]

Well, I really share your sentiments with ocillators, the Elliott Wave method does not really use ocillators. I use the RSI and MACD, and only those two, and I use both only for strength of the moves. EW doesn't use oscillators, so I really dont know what you have used that was supposed to be Elliott Wave. Well, you are also correct that a method must fit your personality, and this certainly fits mine. Good luck with your trading. The 3 Ducks also fit very well with Elliott Wave, and I think Andy has done a good thing here.
Have a good one!

Well, in fact it depends on the way you read it, but as any oscillator it can become extremelly efficient when we have a ranging market but when we have a long and steadily sustained trend it will be giving me many signals about a probable trend change.

In general therms, i dont like oscillators and the only one i always use is RSI, maybe its my personal preference but i avoid oscillators.

Any trading method must first fit your personality, you may like it, and honestly speaking i dont like oscillators.

 

[clissold345]

My 3 Ducks trades for today. Oanda practice account.

March 28 07:26:22 2011 BST Sell Market GBP/USD 1.60036 70,000
March 28 08:16:06 2011 BST Take Profit GBP/USD 1.59658 70,000
Profit £165.68

March 28 06:52:11 2011 BST Buy Market USD/JPY 81.79000 45,000
March 28 15:03:23 2011 BST Close Trade USD/JPY 81.63600 45,000
Loss £53.08

 

[Trucktrader]

Hello Trucktrader,

Here are the instructions you should follow for installation:
1. Once downloaded, double click the "3 Ducks Setup.exe" file.
2. You will be prompted with a message explaining the that an indicator is going to be installed. You should click the "Next" button.
3. The next window will prompt you to locate your Metatrader folder where you would like the indicator installed. The most common location is "C:\Program File\MetaTrader ...". For example, if you are with Alpari your directory is probably located here: "C:\Program Files\MetaTrader - Alpari UK\". You can find your MetaTrader directory by clicking the "Browse" button inside the installer.
4. Navigate through your computers file system until you find the folder and select it.
5. Once you have found and selected your MetaTrader folder click the "Next" button.
6. Now click the "Install" button.
7. All required files will now be installed into your MetaTrader platform.
8. Once the installer is complete please click "Finish".
9. If you had MetaTrader running during installation please close the terminal then reopen it. If it was already closed you can simply open it.
10. Open any chart on any time frame and currency pair.
11. Select the Templates button on your MetaTrader toolbar. CLICK HERE to see what the templates button looks like.
12. Select the 3 Ducks template.

And that's it! You are setup up to monitor 17 different pairs from one chart.

Regards,
JonDgls

Hello JonDgls...

Have not logged on for a couple of days, as been busy with the day job.

Thought I would just drop you a line to say thank you for your comprehensive reply. Followed your instructions exactly to the letter and up popped your indicator.

Looks great...the only thing wich is confusing me is the time and date in the bottom corner. My template is showing 22nd March 07:00...is this correct.

Once again thanks for your efforts..

Best

 

[clissold345]

My 3 Ducks trades for today. Oanda practice account.

March 29 07:09:44 2011 BST Buy Market EUR/GBP 0.88120 65,000
March 29 08:13:18 2011 BST Take Profit EUR/GBP 0.88254 65,000
Profit £87.10

March 29 18:38:13 2011 BST Buy Market AUD/USD 1.02745 35,000
March 29 21:02:04 2011 BST Close Trade AUD/USD 1.02934 35,000
Profit £41.34

 

[clissold345]

My 3 Ducks trades for today. Oanda practice account.

March 30 06:54:56 2011 BST Sell Market USD/CAD 0.97258 90,000
March 30 11:02:22 2011 BST Take Profit USD/CAD 0.97056 90,000
Profit £116.53

March 30 07:56:37 2011 BST Buy Market USD/CHF 0.92473 50,000
March 30 08:48:22 2011 BST Close Trade USD/CHF 0.92281 50,000
Loss £64.86

 

[NVP]

My 3 Ducks trades for today. Oanda practice account.

March 30 06:54:56 2011 BST Sell Market USD/CAD 0.97258 90,000
March 30 11:02:22 2011 BST Take Profit USD/CAD 0.97056 90,000
Profit £116.53

March 30 07:56:37 2011 BST Buy Market USD/CHF 0.92473 50,000
March 30 08:48:22 2011 BST Close Trade USD/CHF 0.92281 50,000
Loss £64.86

hey C

just an observation but i'm a big follower of currency correlations and wanted to suggest an interesting experiment

have a look at your historic trades (i'm assuming more than published here so far), then seperate out any trades which have the following pairs in them from the same team group

(eg if you have any E/G trades remove them, any Usd/Cad trades remove them etc etc)

Ithink you will find the remaining trades (where its trading 2 different team members in the pair combo) will have generated more average % profit per trade and a higher % winning trades than the total group

Team 1 AUD and NZD
Team 2 EUR,GBP
Team 3 CHF,USD,CAD,CHF

less volume but more quality.........just an guess / observation

N

 

[Captain Currency]

Greetings Duck Hunters,

Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;

Eur.Usd – a little bit 50/50 recently but I would prefer to be looking for buying opportunities if/when my 3 ducks line up. A break and hold below 1.4020 would get me bearish

Gbp.Usd – 50/50 at the moment so I’m on the sidelines with this pair for the moment until I see what it wants to do :whistling

Eur.Gbp – same as last week, Eur is still stronger than the Gbp at the moment so I would be looking for buying opportunities when my 3 ducks line up

Usd.Chf – above 0.9250 would get me bullish and looking for buying opportunities when my 3 ducks line up

Aud.Usd – I would be looking for buying opportunities when my 3 ducks line up

Usd.Cad – I would be looking for selling opportunities when my 3 ducks line up

Usd.Jpy – I would be looking for buying opportunities when my 3 ducks line up

Eur.Jpy - I would be looking for buying opportunities when my 3 ducks line up

Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus!​

Best wishes,
Andy.



These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.

 

[clissold345]

hey C

just an observation but i'm a big follower of currency correlations and wanted to suggest an interesting experiment

have a look at your historic trades (i'm assuming more than published here so far), then seperate out any trades which have the following pairs in them from the same team group

(eg if you have any E/G trades remove them, any Usd/Cad trades remove them etc etc)

Ithink you will find the remaining trades (where its trading 2 different team members in the pair combo) will have generated more average % profit per trade and a higher % winning trades than the total group

Team 1 AUD and NZD
Team 2 EUR,GBP
Team 3 CHF,USD,CAD,CHF

less volume but more quality.........just an guess / observation

N

Hi NVP

Thanks for your response. Let me check that I've understood. Here I'm just discussing the 3 Ducks Trading System. There are seven currency pairs in total:

EUR/USD
GBP/USD
EUR/GBP correlated
USD/CHF correlated
AUD/USD
USD/CAD correlated
USD/JPY

You're saying that over the medium or long term (hundreds of trades) you think I'll have a better win/lose ratio, and a better average profit, with the four uncorrelated pairs than with the three correlated pairs? At present I don't have enough trades to check if this is correct.

If you're right, then if I have two 3 Ducks buy signals at almost the same time and one is a correlated pair and one an uncorrelated pair, and I only want to trade once, I should probably trade the uncorrelated pair, since the return is likely to be better.

By the way why is CHF in team 3 not team 2? Should JPY be in team 1?

Regards,

Chris.

 

[Adamus]

From my point of view, I'd say the correlated pairs just don't move as much. That would affect your profit, but I don't think it should affect your win/lose ratio.

 

[clissold345]

My 3 Ducks trades for today. Oanda practice account.

March 31 07:18:22 2011 BST Buy Market EUR/USD 1.41608 45,000
March 31 09:51:27 2011 BST Take Profit EUR/USD 1.42060 45,000
Profit £126.09

March 31 10:18:13 2011 BST Sell Market USD/CAD 0.96959 90,000
March 31 13:11:45 2011 BST Stop Loss USD/CAD 0.97013 90,000
Loss £31.13

 

[clissold345]

From my point of view, I'd say the correlated pairs just don't move as much. That would affect your profit, but I don't think it should affect your win/lose ratio.

Hi Adamus, thanks for your reply. I easily get confused about win/lose ratio. But, yes, I think I like the idea of an assumption that, given the same stops (eg Stop Loss 20 pips, Take Profit 30 pips) on each trade, the 3 Ducks Trading System will have the same win/lose ratio for each of the seven currency pairs, independent of how volatile they are. I hope this win/lose ratio will be 51/49 or better! Regards, Chris.

 

[geewcee]

Clissold, I'd be interested to know how you are calculating your take profit targets? Is it a trailing stop or are you looking at things like resistance levels, pivot points etc?

 

[Fat-prophet]

Hello Trucktrader,

Here are the instructions you should follow for installation:
1. Once downloaded, double click the "3 Ducks Setup.exe" file.
2. You will be prompted with a message explaining the that an indicator is going to be installed. You should click the "Next" button.
3. The next window will prompt you to locate your Metatrader folder where you would like the indicator installed. The most common location is "C:\Program File\MetaTrader ...". For example, if you are with Alpari your directory is probably located here: "C:\Program Files\MetaTrader - Alpari UK\". You can find your MetaTrader directory by clicking the "Browse" button inside the installer.
4. Navigate through your computers file system until you find the folder and select it.
5. Once you have found and selected your MetaTrader folder click the "Next" button.
6. Now click the "Install" button.
7. All required files will now be installed into your MetaTrader platform.
8. Once the installer is complete please click "Finish".
9. If you had MetaTrader running during installation please close the terminal then reopen it. If it was already closed you can simply open it.
10. Open any chart on any time frame and currency pair.
11. Select the Templates button on your MetaTrader toolbar. CLICK HERE to see what the templates button looks like.
12. Select the 3 Ducks template.

And that's it! You are setup up to monitor 17 different pairs from one chart.

Regards,
JonDgls

Hi have just installed your template< when i cross checked it with the chat it wasn't tallying. Have you noticed anything like this and is there a solution... cheers

 

[clissold345]

Clissold, I'd be interested to know how you are calculating your take profit targets? Is it a trailing stop or are you looking at things like resistance levels, pivot points etc?

Hi geewcee, I'm still trying to work out a method that works, so at present I don't really have a method about when to take profits. However, I'll give you a description of what I'm doing at present. Please tell me if you have any suggestions about how I can improve on what I'm doing.

Once I've seen a 3 Ducks buy signal, and opened the position, I generally let a trade run (not for longer than three or four hours though). I check the trade approximately every half an hour. If a trade turns strongly against me, I'll close it before it hits the Stop Loss. I generally want to let a trade run, so when I check a trade (a trade that is in profit) I often move Take Profit fifteen or twenty pips away from the current price. This means that, if I'm away from my computer, a strong price movement in my favour will hit Take Profit.

Since I'm risking a max loss of £100 (demo account only) I think I need to aim at a profit of more than £100 in a significant number of my profitable trades, otherwise I will never make a profit medium term (months) or long term (years).

Regards,

Chris.

 

[geewcee]

Hi Chris, sounds like a good way of doing it. Ive also been trading the 3 ducks, successfully in demo but now live. Problem I found is that if I use a trailing stop it doesnt give enough room for the trade to breath, and often what would have been a small profit ends up being a small loss. Manually watching the trades mean I get nervous and end up taking profits far too soon and then watch it gain another 30-40 pips! It seems weird but when I was demo'ing the system emotion didnt come into it but now its real capital I seem to be failing to make optimal decisions.
Anyway I hope you keep posting, nice to see someone else trading the system. I miss alot of the very early morning signals as I'm generally getting the kids up and ready for school so its nice to see you catching those ;-)