The 3 Duck's Trading System

This is a discussion on The 3 Duck's Trading System within the Forex forums, part of the Markets category; Originally Posted by shadowninja Seems to have worked for GBP/USD from about 2pm today. You sure? Isn't the 4hr still ...

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Old Sep 20, 2007, 6:22pm   #9
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Quote:
Originally Posted by shadowninja View Post
Seems to have worked for GBP/USD from about 2pm today.
You sure?

Isn't the 4hr still under the radar today?

EDIT: Last time Cable fell into line, according to these rules were on the 13th of this month.

All roads led 'short' thru 2.0190.
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Old Sep 20, 2007, 6:43pm   #10
 
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Originally Posted by ampro View Post
You sure?

Isn't the 4hr still under the radar today?

EDIT: Last time Cable fell into line, according to these rules were on the 13th of this month.

All roads led 'short' thru 2.0190.
Hello Traders,

Yes Ampro is on the ball, current prices are indeed below the 4hr 60sma on cable. Get step 1, then move on to step 2 and 3 (hope that does'nt sound too teacherish).
We will forgive shadoninja this time.

Kind Regards,
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Old Sep 20, 2007, 6:51pm   #11
 
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Yeah, I realised this, but for scalping purposes, I would have thought 1HR, 15Min and 3Min would work?

I draw your attention to my disclaimer.
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Old Sep 20, 2007, 7:26pm   #12
 
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With all due respect to peeps.

This is why 95% (or so they say) traders fail.

The guy has given out a system that the banks, major institutions, Mr Elder and other feted traders use, plus the rest of the big boys; and it gets changed straight away.

Human nature I suppose. People can't leave a tried and tested system alone. They always think they can do better. I am guilty of the above myself of course, (at certain times in my trading cycle), however this way of trading has been around for years. If it works for them... etc etc.

This is not a personal attack at you Ninja.

PS. Why do you have two swords sticking out of your head?

PPS. You can scalp on any time frame chart.
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Old Sep 20, 2007, 7:52pm   #13
 
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Quote:
Originally Posted by options View Post
With all due respect to peeps.

This is why 95% (or so they say) traders fail.

The guy has given out a system that the banks, major institutions, Mr Elder and other feted traders use, plus the rest of the big boys; and it gets changed straight away.

Human nature I suppose. People can't leave a tried and tested system alone. They always think they can do better. I am guilty of the above myself of course, (at certain times in my trading cycle), however this way of trading has been around for years. If it works for them... etc etc.

This is not a personal attack at you Ninja.

PS. Why do you have two swords sticking out of your head?

PPS. You can scalp on any time frame chart.
Hello Options,

I am laughing at your post, in a nice way!
I agree with you 100%. I showed this system to a trader last week and before I even got to step 3 he was telling me that he could sell down when prices got high enough above the MA's. When I say "make the system your own" I dont mean take a chainsaw to it!
It is human nature to make it your own to a certain point, after all if I had'nt tweeked a few points on the origional idea we wouldnt be talking about The 3 Duck's Trading System today, how mad would that be....?
I guess the lesson here is that human behaviour is very interesting to watch. I also think the best plan going forward and for this topic to survive, would be for traders to trade the system as explained in post number 1.

I hope after all this that T3DTS will make a positive difference to your trading.

Kind regards,

PS: Im still laughing at the previous post.
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Old Sep 20, 2007, 9:36pm   #14
 
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*points to his disclaimer*

I thought that because I was looking at intraday, the 4 hour chart is less important?

PS I stole the image from babypips.com
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Old Sep 20, 2007, 10:20pm   #15
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Does this method work in reverse, ie when price is above the 60SMA in all time frames can you go Long ?


Paul
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Old Sep 21, 2007, 7:23am   #16
 
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Originally Posted by Trader333 View Post
Does this method work in reverse, ie when price is above the 60SMA in all time frames can you go Long ?


Paul

Hello Paul,

Yes it does. Here is a piece take from the summary on the blog.

Summary: The above example was carried out when the gbp/usd was trading lower so obviously we where selling - the system works just as well for buying opportunities, just look for prices to be above the 60 sma on all 3 time-frames, starting with step 1 again.


Kind Regards,
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