Best Thread The 3 Duck's Trading System
- Thread starter Captain Currency
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You’re right Jason, it’s exactly what this forum should be all about. This game is tough enough as it is for newcomers, without all the agenda’s & smoke & mirrors garbage which gets hurled around on here.
I don’t think the guy’s intelligence is in question, & judging by his CV, he ought to have more than an average grasp of what’s what out there?
But like Tony said, he’s attempting to complicate & mystify, like it’s some great in-depth nugget of wonderment only available & accessible to the favored few.
Him & SOCRATES would make great bed partners.
Jesus Christ, we got several nieces & nephews under the age of 16 back home in the States.
2 of them (14 & 15 & under basic, easily assimilated instruction) have been regularly dumping $$’s into their savings accounts since last Feb. They probably could have started a couple yrs earlier, but our Folks resisted.
They’ve both started on a plain, simple 60/15/5min combo strat. They kick it around (supervised) after they’ve packed away their school-work & done their chores. The strat has been traded for years thru their pers accounts, by one of our Parents & is regularly traded by their Mom.
They’ll return sufficient profits to pay their own way thru College, which is the aim of one of them. That’s one price action strat which took our Pop approx 3 mths to drill home from scratch.
The basis of his instruction (& the triggers) revolves around key levels, changing trend conditions & majoring on crowd psychology & the effects!
Real complicated, mind numbing, stratospheric stuff huh? 😆 😆
But of course, it’s far, far too simple & "childs play" to work effectively. No way it’ll return the pips long term. 🙄
I don’t think the guy’s intelligence is in question, & judging by his CV, he ought to have more than an average grasp of what’s what out there?
But like Tony said, he’s attempting to complicate & mystify, like it’s some great in-depth nugget of wonderment only available & accessible to the favored few.
Him & SOCRATES would make great bed partners.
Jesus Christ, we got several nieces & nephews under the age of 16 back home in the States.
2 of them (14 & 15 & under basic, easily assimilated instruction) have been regularly dumping $$’s into their savings accounts since last Feb. They probably could have started a couple yrs earlier, but our Folks resisted.
They’ve both started on a plain, simple 60/15/5min combo strat. They kick it around (supervised) after they’ve packed away their school-work & done their chores. The strat has been traded for years thru their pers accounts, by one of our Parents & is regularly traded by their Mom.
They’ll return sufficient profits to pay their own way thru College, which is the aim of one of them. That’s one price action strat which took our Pop approx 3 mths to drill home from scratch.
The basis of his instruction (& the triggers) revolves around key levels, changing trend conditions & majoring on crowd psychology & the effects!
Real complicated, mind numbing, stratospheric stuff huh? 😆 😆
But of course, it’s far, far too simple & "childs play" to work effectively. No way it’ll return the pips long term. 🙄
TheBramble
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It's grammar, not grammer...🙄
Whatever you think is clear to you is your problem - I'm not about to make it mine, nor do I need advice from you on what is and what is not permissible to mention.
If he’s so intelligent, can you explain why he is unable to respond adequately or intelligently to my posing his own wording back to him in requesting clarification?
And one typing mistake now and again gets through for sure, but the clear lack of care and attention evident in his posts is an indication to me of the very real potential for lack of attention and care in other matters too. You can’t be a super-hot trader yet be a grunt in the wordsmith area.
That you may or may not ‘do it all the time’, this is also your problem and not an excuse for anyone else’s lack of care or a reason to care the less.
What you consider is sinking a bit low is a total irrelevance to me.
Now lessons given and rejected, perhaps you’d care to back off the ill-advised tutorial and deliver something in line with the topic or are you just here to comment on others comments and styles of writing?
TheBramble
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Once again, many thanks for your considered opinion. Maybe you'd like to check with others who have contributed on topic to this thread and ask them if they can perhaps detctect just a tad of attitude in his posts, or not. Either way, it sticks.
Brave I can find in the front lines - for the intelligent, I need to head back to HQ.
nine
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I'm with Bramble on this Jason,
Grammar is important in life not just as a newsletter writer which it appears Depth Trade might be from his vendor profile. The ability to present ones ideas and opinions without obvious glaring errors makes a huge difference to their uptake. I spent years teaching junior engineers this ... write without obvious error or others will assume your thinking to be equally faulty.
It is a contribution to a thread to point out problems with a strategy that either demolish it and stop wasting people time and money or help others to improve it. I'm afraid that Depth's contributions fit into the "I believe in Christianity" so "you Moslems are wrong" category.
He doesn't prove that the strategy is unworkable. He doesn't help make it better. He just professes a different religious belief. And he does do it with a bit of attitude although as with most of us the attitudes harden when the arguments start.
Depth, can you stop contributing to this thread (unless you can prove the strategy won't work here or provide something to improve it)?
Bramble, my dear fellow, can you not argue with him. In fact, unless DT's contributions fit my two categories I suggest that they be ignored so that the thread can get back on the path of helping people improve their trading.
To that end I go back to an earlier post of mine where I said: On a related matter, Captain Currency often points out that he applies his price action knowledge to the resulting signals. I know this will trouble many newer traders and I think the patterns discussed in this thread might help them.
Grammar is important in life not just as a newsletter writer which it appears Depth Trade might be from his vendor profile. The ability to present ones ideas and opinions without obvious glaring errors makes a huge difference to their uptake. I spent years teaching junior engineers this ... write without obvious error or others will assume your thinking to be equally faulty.
It is a contribution to a thread to point out problems with a strategy that either demolish it and stop wasting people time and money or help others to improve it. I'm afraid that Depth's contributions fit into the "I believe in Christianity" so "you Moslems are wrong" category.
He doesn't prove that the strategy is unworkable. He doesn't help make it better. He just professes a different religious belief. And he does do it with a bit of attitude although as with most of us the attitudes harden when the arguments start.
Depth, can you stop contributing to this thread (unless you can prove the strategy won't work here or provide something to improve it)?
Bramble, my dear fellow, can you not argue with him. In fact, unless DT's contributions fit my two categories I suggest that they be ignored so that the thread can get back on the path of helping people improve their trading.
To that end I go back to an earlier post of mine where I said: On a related matter, Captain Currency often points out that he applies his price action knowledge to the resulting signals. I know this will trouble many newer traders and I think the patterns discussed in this thread might help them.
Captain Currency
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Hello All,
The weekend is upon us again, I'm off for some relaxing time with my nearest and dearest and some stress management (guinness). Hopefully next week will be a good trading week and hopefully this thread can continue to move forward in the correct direction.
I have no problem with attitudes, as long as they are positive!
Here is a clever piece about grammar:
A panda walks into a café. He orders a sandwich, eats it, then draws a gun and proceeds to fire it at the other patrons.
“Why?” asks the confused, surviving waiter amidst the carnage, as the panda makes towards the exit. The panda produces a badly punctuated wildlife manual and tosses it over his shoulder.
“Well, I’m a panda,” he says at the door. “Look it up.”
The waiter turns to the relevant entry in the manual and, sure enough, finds an explanation. “Panda. Large black-and-white bear-like mammal, native to China. Eats, shoots and leaves.”
Have a great weekend,
The weekend is upon us again, I'm off for some relaxing time with my nearest and dearest and some stress management (guinness). Hopefully next week will be a good trading week and hopefully this thread can continue to move forward in the correct direction.
I have no problem with attitudes, as long as they are positive!
Here is a clever piece about grammar:
A panda walks into a café. He orders a sandwich, eats it, then draws a gun and proceeds to fire it at the other patrons.
“Why?” asks the confused, surviving waiter amidst the carnage, as the panda makes towards the exit. The panda produces a badly punctuated wildlife manual and tosses it over his shoulder.
“Well, I’m a panda,” he says at the door. “Look it up.”
The waiter turns to the relevant entry in the manual and, sure enough, finds an explanation. “Panda. Large black-and-white bear-like mammal, native to China. Eats, shoots and leaves.”
Have a great weekend,
TheBramble
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You call 'that' arguing? 😱 That’s just foreplay where I come from…
My frustrations in failing to get clarification for what initially had the appearance of the makings of a reasoned rebuttal of CC's methods are obviously showing through. As no such clarification seems forthcoming, or likely to be comprehensible even if it were to be presented, it looks like we have rebuttal simply for the sake of it.
To be fair, it’s going to be a tough call for anyone to challenge this triple timeframe MA-X within the context and intent stated by Cpt.£$ ¥€¢, but any reasonable effort is to be encouraged and would be welcome by all I’m sure as part of the process of debate and discussion. But outright negation without basis or rationale is always going to get a good kicking – we’re traders aren’t we?
So, to I’ll disengage this member on this issue at this time, and place, forthwith and even fifthwith to save you further angst and to keep this strangely pleasant thread on track, while reserving the right to argue heatedly, with prickly disdain should I choose to do so in future.
Captain Currency
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Depth Trade
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(yawn)
I guess a couple of live posted trades by this Strat. will settle everything.
Dt
🙂
I guess a couple of live posted trades by this Strat. will settle everything.
Dt
🙂
For reasons of personal convenience I prefer to use a 5' chart and stay on it. To get 4 hours I would have to go to another site.
To get around this and stay on the same chart would you say that I could put three averages on it, i.e. 60 for 5' and convert one hour to 120 bars and four hours to 480 bars without interfering with the system?
Split
To get around this and stay on the same chart would you say that I could put three averages on it, i.e. 60 for 5' and convert one hour to 120 bars and four hours to 480 bars without interfering with the system?
Split
nine
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IMHO you can ... but ...
First, the mas will not line up perfectly because the sma of the closes of the higher timeframe bars is not the same as the sum of all of the smas of the lower timeframe smas. But, imho, that is not a big thing (just compare them to find out).
Second, you will not see the bar formations from the perspective of the higher order charts and in particular might miss out on bar breaks. I think that this is more important (or at least it would be for me) but can be overcome by watching the 5m and 60m with your current supplier and just occasionally checking out the longer term chart to see what you can see.
First, the mas will not line up perfectly because the sma of the closes of the higher timeframe bars is not the same as the sum of all of the smas of the lower timeframe smas. But, imho, that is not a big thing (just compare them to find out).
Second, you will not see the bar formations from the perspective of the higher order charts and in particular might miss out on bar breaks. I think that this is more important (or at least it would be for me) but can be overcome by watching the 5m and 60m with your current supplier and just occasionally checking out the longer term chart to see what you can see.
tony, these forums are obviously your life, so im not gonna continue with this as Ive found with people like you there is just no winning. I was only putting a point across.
I too believe in simplicity in trading, but also believe intelligence gets you know where in trading because as you know when your infront of that screen and you have not got the bulls to act or follow your rules, intelligence and grammer cannot help you then. By the way the best trader i know was a ex 'carpet layer' who earned $7,000,000 last year, he was not an intelligent man or had no degree's or anything, but he had common sense and bulls.
so please don't try and baffle me with your crap,
jason
I too believe in simplicity in trading, but also believe intelligence gets you know where in trading because as you know when your infront of that screen and you have not got the bulls to act or follow your rules, intelligence and grammer cannot help you then. By the way the best trader i know was a ex 'carpet layer' who earned $7,000,000 last year, he was not an intelligent man or had no degree's or anything, but he had common sense and bulls.
so please don't try and baffle me with your crap,
jason
That’s a good point nine.
I guess it boils down to how conservative an operator you are.
Most of the relevant information is located on the 60min frame, & certainly sufficiently visible to transact safe foray’s via the 5min execution chart.
The main crux of CC’s strat on here is ‘running with the near term flows’
240 direction, 60 geography (buying dips or selling rallies) & 5 close focus timing.
Combine that with mid term s&r zones and/or key big figure reaction levels, utilizing your favored bar or candle prints, & you got the main ingredients of your pie.
You’ll find the 240min will trudge along tortoise like if you’re observing the 60SMA signal into 1st stage alert. That might just be a little slow for some palets.
The 60min (& 60SMA) will generally offer guidance, whilst studying the location & behaviour of the swing levels. If the peak & trough behaviour is fluid, your 5min will ebb & flow handsomely. It will certainly allow appropriate entry in accordance with Captains original intention of seeking out minimum, but quality trades.
Team that info up with your session times (peak traffic at the London open & (usually) heavy traffic at the New York overlap), & your 5min buddy frame should offer adequate entry & risk criteria.
The SMA’s actually become redundant once the simple concept of what’s being shown here begins to mature. But like most things in the trading world, the odd crutch isn’t really gonna do too much harm is it.
Hi, nine, I realise that I made a CU of my numbers---don't know how I figured that out! The avs are not 120 and 480 but 720 and 2880. I just read post 18.
Maybe, I'll start making money now but, in any case, the numbers are so big that the avs would not appear on my 5' chart unless I reverse zoomed so that I could not see properly.
Split
Maybe, I'll start making money now but, in any case, the numbers are so big that the avs would not appear on my 5' chart unless I reverse zoomed so that I could not see properly.
Split
Captain Currency
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Hello Splitlink,
Yes you can put all the sma's on one TF, I think someone asked the same Q in an earlier post. 🙂
The calculations for a 5min chart would be: 60, 720 & 2880
for a 1hr chart it would be: 60, 240 & 5
Im just a bit old fashioned and like to looke at 3 TF's, the 5 min chart really helps me see an entry point.
Kind Regards,
nine
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The topic is nearly done to death but I'll add one more (maybe relevant comment).
There are three time frames 240, 60, 5.
In my own trading there are two time frames (and a pair of (near the same length) MAs that represents a longer time frame concept of value). The longer of the two time frames is under 3 minutes. The shorter one is a tick chart that can form bars in 10 seconds at times.
I find that I must wait for signals on the long time frame before I drop to the short. The reason is that the short time frame is NOISE until the longer time frame gives it context to believe that the signals will result in continuation. The trouble with short time frame noise is that your brain entrains to it and I find myself getting impulses to trade the noise ... not wait for the longer time frame signal.
So my extrapolation to this system says I would stay away from the 5m until the 240 and 60 set up to suggest good continuation on the 5m. Just another thought but I guess that depends on whether you regard the 5m as fine tuning the 240/60 signal or generating signals on its own behalf. My impression is that for this particular triplet my argument is irrelevant 🙂
.
There are three time frames 240, 60, 5.
In my own trading there are two time frames (and a pair of (near the same length) MAs that represents a longer time frame concept of value). The longer of the two time frames is under 3 minutes. The shorter one is a tick chart that can form bars in 10 seconds at times.
I find that I must wait for signals on the long time frame before I drop to the short. The reason is that the short time frame is NOISE until the longer time frame gives it context to believe that the signals will result in continuation. The trouble with short time frame noise is that your brain entrains to it and I find myself getting impulses to trade the noise ... not wait for the longer time frame signal.
So my extrapolation to this system says I would stay away from the 5m until the 240 and 60 set up to suggest good continuation on the 5m. Just another thought but I guess that depends on whether you regard the 5m as fine tuning the 240/60 signal or generating signals on its own behalf. My impression is that for this particular triplet my argument is irrelevant 🙂
.
Captain Currency
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Hello Nine,
Thanks for your comments.
Just a few points I wanted to share:
Just in relation to the two larger TF's, I think there are a couple of values in using the 4hr & 1hr charts, the obvious one is for potential target areas. They can also act as a "filter" by that I mean if the current price was above the sma on the 4hr & 1hr and we were potentially looking to buy on a cross on the 5min sma with a move above the high on the 5min chart - If the next highs or resistance on the 4hr or 1hr chart were close by ie 25/30/35 pips, I would ask myself is the trade good value ie risking 20/25 for 25/30 pips? Of course resistance can be broken, but as I say if you are experienced with currency pairs you might be able to weigh up the likelyhood of resistance holding or breaking ie time in the day, how much as it moved today already etc.
Staying away from the 5min chart until the 4hr & 1hr are lined up is really what the system is all about, if it looks bullish on the 4hr/1hr it will certainely look good on a 5 min chart, but the opposite is not always true. I think the benefit I found from using the system was I was less likely to get suckered into a position because it looked bullish on a 5 min chart, only for it to dump off just after I entered.
There was one good example of this a few weeks ago on usd.cad - prices rallied up 50/60 pips which looked great on a 5min chart & not too shabby on the 1hr either, I bet there where a few traders sucked into this move, but by using the guidelines of the strat there would have been no way your where looking to get long this pair (prices where below the 4hr & 1hr sma's)
So I think people are genuinely concerned about noise on the 5min chart, I dont personally see it as an obstacle because for me to get interested in taking a position the currenct price has to get through 2/3/4 "check points".
Kind Regards,
