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; getting close to a buy i think looks like go long at 6 pm....

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Old Sep 24, 2007, 6:06pm   #31
 
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getting close to a buy i think looks like go long at 6 pm.
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Old Sep 24, 2007, 6:16pm   #32
 
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Originally Posted by ampro View Post
The averages don't need to actually cross according to the guidelines of this simple little observation as far as I understand it. Where did you read that inclusion CB?

All that's required to begin preparing for a potential long trigger is for price to be to the North of all 3 sma's.

Once price has penetrated & held the Northerly ground on the 4 & 1hr timeframes, you begin homing in on the 5min frame to fine tune? your potential entry.

If you were looking to initiate a fresh entry late last week, then Friday lunchtime (London) offered a couple decent 5min bar leg in's with no real reason to book profits until the lazy pullback (lower lows & highs on the 5min) through 2.0270-250 today?

Price is now 0.5 cent shy of the averages on the 4 & 1 hr timeframes & channeling down on the 5min.

It's going to require a decent break & pullback above 2.0250 now to be honest, to not only negate the lower low/lower high roll (on the 5min), but also trigger another 'long' according to the 3 duck rule set.

Otherwise, if price threatens the 2 higher timeframe sma's at circa 2.0150, you'll be gearing up to flip to shorts on a likely pullback opp.

Like the guy suggests, utilizing this additional reference in harmony with local & regional support/resistance will probably assist in offering a heads up to near term directional flows.

Even more so if you also obey the peak & trough behaviour on your preferred template timeframe.

It's not a bad little piece of kit for (potential) front running entries via the 5min, then screwing back out & managing the position via the less windy hourlies!

cheers, probably my wrong take on the ma's position, I thought the long 2.0200 on the 21/09 looked ok, then i thought hang on the intermediate blue wasnt above the longer term green (thats just happend) . interesting to see what happens from here on.... looking ahead 24 hours or so assuming we long on this setup sell into taking out stops above recent daily high. (wait for a shorter term failure?) eyeballing the chart 2.0360/70 Ist target?

lets see what happens, i'd be gutted ,now ive half got my head around it to see 2.0160/70 taken out ..... (blue line ma)
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Old Sep 24, 2007, 6:25pm   #33
 
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Originally Posted by Crap Buddist View Post
getting close to a buy i think looks like go long at 6 pm.

Hello again Crap Buddist,

Some times I think I should have kept my mouth shut. As I say, use the "system" as a guide with your own market knowledge. Its 5:25pm here now, would I buy it at this time if I got a signal? No - London is closed, you get my drift? Its been a quiet day today apart from the quick move up this am.

Kind Regards,

PS: Nice post ampro.
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Old Sep 24, 2007, 6:29pm   #34
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Quote:
Originally Posted by Crap Buddist View Post

interesting to see what happens from here on....

eyeballing the chart 2.0360/70 Ist target?
That's the intended target I guess, yeah.

Cetainly needs to maintain this higher low stint above 2.0120 to keep the longs interested, otherwise it's suspect.

Relinquishing 2.0070 would suggest the near term (mid month) top is in for a wee while I shouldn't wonder.
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Old Sep 25, 2007, 3:55pm   #35
 
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Captain Currency started this thread Hello Traders,

Nice trade on The 3 Duck's Trading System today. A good place to buy was on the small pullback after it broke the high, stop-loss at the last low and the target at the highs. Straight forward enough!

Kind Regards,
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Old Sep 27, 2007, 12:41pm   #36
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You'll be filling your tank up this week CC huh?

Nice pop on the Cable earlier around the UK Hse Prices release.

Couple decent add in longs on the EUR/YEN & GBP/YEN this week too by the looks.

Guinness tab is on you for next month then
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Old Sep 27, 2007, 1:18pm   #37
 
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You'll be filling your tank up this week CC huh?

Nice pop on the Cable earlier around the UK Hse Prices release.

Couple decent add in longs on the EUR/YEN & GBP/YEN this week too by the looks.

Guinness tab is on you for next month then

Hello Ampro,

Yes I know a few traders who made $ from the cable trade this am. What about the Aud/Usd HUGGING the ma on the 5min chart!!!
The Guinness is always on me!

Kind Regards,
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Old Sep 27, 2007, 1:28pm   #38
 
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nice simple system. using MAs of all things.
course, it'll never work. its too easy.

biggest aspect is maintaining patience and waiting for trade to come to you, and not force it.
good stuff Cap'n.
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Old Sep 27, 2007, 1:41pm   #39
 
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Am guessing today from 11am on GBP/USD was a good one?
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Old Sep 27, 2007, 2:20pm   #40
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If you missed the 1st shunt into early London traffic, then sure, around 2.0225 (the 2nd minor shuffle thru the London b/o) was a playable option. Or depending on your risk profile, an hour earlier, 15 odd pips farther back, was maybe a tempter?

All down to your strategy model I guess.
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Old Sep 27, 2007, 3:14pm   #41
 
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Captain Currency started this thread [QUOTE=

biggest aspect is maintaining patience and waiting for trade to come to you, and not force it.
good stuff Cap'n.[/QUOTE]


Hello Trendie,

You said it! As they say " you get the chicken by hatching the egg - not smashing it" or DUCKS

Ampro, yes, if in doubt trade the "one way aussie"

Kind Regards,
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Old Sep 27, 2007, 5:37pm   #42
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Hi Captain Currency,

I have been following this thread and very interested to try out this strategy myself.
I have just set up my charts, being a newbie to Forex trading, could you please confirm that my chart setup is correct?

Using 4-hour, 1-hour and 5 mins chart.
Period: 60
Moving Average: 60

I'm using free charts at http://www.dailyfx.com/charts/ChartStation.html
I wonder if you have any recommendations for a better free charting software.

Thanks!
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Old Sep 28, 2007, 12:43pm   #43
 
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Captain Currency started this thread Hello Traders,

THE EARLY BIRD CATCHES THE WORM!

A nice easy trade set-up on the Ducks earlier this am on Gbp/Usd, I bought at 2.0235 when prices crossed the last high and the sma on the 5 min chart - All 3 Ducks Lined UP! my stop-loss was placed 30 pips away from the entry, it would have been too expensive to place the stop-loss under the last low (about 40 pips) so I used a fixed stop-loss instead. I took profit just before the past daily high. A 30 risk for a 60 pip reward and a fairly painless trade, a great way to spend your Friday morning!

Have a great weekend guys,
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Old Sep 28, 2007, 5:26pm   #44
 
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GBP/USD: 50pts from 15:40 approx. (Using 4H, 1H, 15M, 3M simply because I use those graphs for other stuff and don't want to add 5M to my "bookmarks list".)

PS The lazy ******* bird that woke up at 11am today also gets the worm.

PPS I bet you're thinking... 'Ow'd he (Audi) manage that? What I did was wait for the price to go back to the 60MA then spring back. So... not so much the 3 Duck's Trading System as...







wait for it...






The 4 Spring-Duck Technique.

Sorry.
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Old Oct 1, 2007, 10:54am   #45
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Hi!

I see that the 3-duck system works very well on GBP/USD and EURO/USD.
what other pairs are good for this system?
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