Best Thread The 3 Duck's Trading System

[clissold345]

Just a warning about SMAs: I believe SMAs are normally calculated ignoring weekend data but they can also be calculated taking into account weekend data. The difference between the two ways of calculating SMAs can sometimes be large, as I found out today.

 

[TheBramble]

You entered Short at 12:46 BST yet the trigger as best I can see it was an hour earlier at around 11:55 BST. Why did you delay placing the order?

While journaling trades is a good idea, to do so in this thread implicitly may cause members to draw conclusions about the 3 Ducks system itself, rather than more specifically, one individual trader's interpretation, application, execution and management of trades which may be to some extent only rather loosely aligned with the system itself.

 

[TheBramble]

Just a warning about SMAs: I believe SMAs are normally calculated ignoring weekend data but they can also be calculated taking into account weekend data. The difference between the two ways of calculating SMAs can sometimes be large, as I found out today.

What weekend data? Nobody serious trades weekends as the market isn't open.

If you include 'local' trading over weekends in your technical analysis you are wasting your time attempting to use any technically based indicator or system. And I don't get how any weekend data could possibly skew a 60 period SMA on the 5 min.

 

[clissold345]

clissold, what is your exit strategy?

Hi Bramble, my exit strategy is now very simple: stop loss 20 pips, take profit 35 pips and let the trade run to a conclusion. However, if I happen to see the trade within a few pips of the stop loss, I allow myself to close it (if I want to) and therefore probably save myself a few pips.

This exit strategy will work if I can take the right 3 ducks buy signals. But that's something I'm still working on! What do you think? Regards, Chris.

 

[clissold345]

What weekend data? Nobody serious trades weekends as the market isn't open.

If you include 'local' trading over weekends in your technical analysis you are wasting your time attempting to use any technically based indicator or system. And I don't get how any weekend data could possibly skew a 60 period SMA on the 5 min.

Hi Bramble, I just wanted to warn beginners (like myself), so that they will be spared the confusion I was in this morning. Oanda allow both ways of calculating SMA and they were very different this morning. I don't know why. Perhaps it's something that only affects people who use Oanda?

 

[TheBramble]

Hi Bramble, I just wanted to warn beginners (like myself), so that they will be spared the confusion I was in this morning. Oanda allow both ways of calculating SMA and they were very different this morning. I don't know why. Perhaps it's something that only affects people who use Oanda?

Well, nothing wrong with using OANDA to trade (other than loss of all your capital if they go belly up and pretty dire customer support), but their charting facilities are Neanderthal anyway.

Why don't you use say MetaTrader for charting and OANDA for trading? But either way, as you've discovered, turn off weekend data as it has NO relevance.

 

[clissold345]

You entered Short at 12:46 BST yet the trigger as best I can see it was an hour earlier at around 11:55 BST. Why did you delay placing the order?

While journaling trades is a good idea, to do so in this thread implicitly may cause members to draw conclusions about the 3 Ducks system itself, rather than more specifically, one individual trader's interpretation, application, execution and management of trades which may be to some extent only rather loosely aligned with the system itself.

Hi Bramble, yes I agree with you that I entered late. I think I was about 20 minutes late, and that was simply because I missed the signal. I only post trades on this thread that I think are consistent with 3 Ducks.

 

[Adamus]

hi Clissold

I'd be interested to know exactly what OandA's definition of 'weekend data' is.

Is it really open for trading with OandA over the whole weekend? Not that I want to trade it, but I'd be interested to know what their Friday close and Monday opening times are and whether 'weekend data' is just an extension of these open and closing times to earlier / later than normal for broker platforms, or a complete 24x7 session.

 

[prewxx]

Winning trade on USDCHF!!!!! Entry @ .8964 Exit @ .8926. Just follow the Captains rules.

 

[clissold345]

hi Clissold

I'd be interested to know exactly what OandA's definition of 'weekend data' is.

Is it really open for trading with OandA over the whole weekend? Not that I want to trade it, but I'd be interested to know what their Friday close and Monday opening times are and whether 'weekend data' is just an extension of these open and closing times to earlier / later than normal for broker platforms, or a complete 24x7 session.

Hi Adamus, sorry I cant answer your questions. You could open an Oanda demo account and check? All I know is that I discovered that the SMAs on my Oanda charts differed from a colleague's charts, and the reason for this (apparently) was that my Oanda charts were including weekend data. Regards, Chris.

 

[Adamus]

Hi Adamus, sorry I cant answer your questions. You could open an Oanda demo account and check? All I know is that I discovered that the SMAs on my Oanda charts differed from a colleague's charts, and the reason for this (apparently) was that my Oanda charts were including weekend data. Regards, Chris.

I didn't intend to ask you to do anything beyond write down what I thought you'd know.

Generally speaking it's a good thing to know when the market you trade opens and closes.

 

[TheBramble]

It's already been covered.

Don't use OANDA for charting.

Hide and Ignore weekend data. It's not real....

 

[kristydow]

Guys, I heard there was a private forum for those who have done the one on one course. Completed this week!

Does anyone know how I become a part of it?

Also, could not recommend it enough more. Have learnt so much from it and will update you all to see how much difference trading it makes!

 

[Tenapenny]

Guys, I heard there was a private forum for those who have done the one on one course. Completed this week!

Does anyone know how I become a part of it?

Also, could not recommend it enough more. Have learnt so much from it and will update you all to see how much difference trading it makes!

I don't see the forum you want listed on this site http://www.trade2win.com/boards/members-private-forums/ however there is a private password protected forum here http://www.systemsfortraders.com/3-ducks-1-1-trading-room-p-w/ but you will have to join SFT then the private forum.

 

[imran.yusof]

After joining Systemsfortraders.com, get the password from the good Captain to subscribe to the password-protected trading room.

Cheers!
Imran

Guys, I heard there was a private forum for those who have done the one on one course. Completed this week!

Does anyone know how I become a part of it?

Also, could not recommend it enough more. Have learnt so much from it and will update you all to see how much difference trading it makes!

 

[kristydow]

Much appreciated guys! thanks.

 

[Pat494]

This system has its supporters. From the weekly chart of the S&P 500 as below, I challenge you to give a forecast for the end of the week and the reasons why using the 3 Ducks system. I will do the same for the Black Dog System and lets see who gets it right and WHY

 

[GumRai]

This system has its supporters. From the weekly chart of the S&P 500 as below, I challenge you to give a forecast for the end of the week and the reasons why using the 3 Ducks system. I will do the same for the Black Dog System and lets see who gets it right and WHY

The point of the 3 ducks system is to take small bites out of a trending market, not to forecast what price an instrument will be at the end of a set period of time.

 

[Pat494]

Your system may well also work on a longer time frame too ?

So step up to the plate and give it your best shot !!

 

[GumRai]

Your system may well also work on a longer time frame too ?

So step up to the plate and give it your best shot !!

Why? I'm sure that most people are not interested in a pissing contest. I'm certainly not. I don't care where the price is at the end of the week, all I'm interested in is what I can take from the market between now and then