Best Thread The 3 Duck's Trading System

[ajoe1]

Updated: Pieter, I installed the 3 Ducks indicator on a 4 hr chart and compared it to the same pair on a 5 m and a 1 hr chart and the 3 mas on the 4hr are the same. I think this indi was coded to be used on a 4hr chart only to detect pairs at a glance that are below/above the 3 mas (3 Ducks) worth going to the next lower time frames for possible trades.

Yellow- same as 60 sma on 5m chart
Blue - same as 60 sma on 60m chart
Red - same as 60 sma on 240m chart

I know nothing about code. Checking it against the Data Window appeared off a bit but also on another computer and different mt4 platform but probably close enough to decide to drop down a time frame and take a look. If you do, take a look and see if it makes sense from that prospective and let me know what you think.

I am a trader not a indicator/coder person. I would appreciate your input or anyone that can advise a method to keep the charts clean and this method simple as taught here by CC. Its nice to keep the 4 hr charts open with the multiple 60 moving averages for a screen and then drop down to the lower time frames on pairs that "THE DUCKS WOULD FAVOR", as taught by CC.


Regards,
Cigarguy

where is this 3 ducks indicator you are talking about? sounds useful. thanks in advance

 

[cigarguy]

3 Ducks Indicator

where is this 3 ducks indicator you are talking about? sounds useful. thanks in advance

Hello Ajoe1,

I posted the indicator in a prior post, but was advised by Pieter that it was not correct, so not being a coder person, removed the post. I found it on another thread (don't remember where) and thought it would be useful to glance at the 4 hr chart and see the 3 Duck trading possibilities and then drill down time frames from there.

Here it is again for you to play with and see what you think. I installed the 60m sma on the 3 Duck time frames, 4 hr, 1 hr and 5m and compared it to the indicator installed on the 4 hr charts and it appeared the same to me.

I think it was coded to be installed on the 4 hr charts only to show PA relative to the 60 sma at a glance on all three time frames? I am a trader not a indicator person. I prefer clean PA charts.....

Give it a try and advise what you think.

Regards,
Cigarguy

 

[PieterSteidelmayer]

Is this the same indicator you posted previously cigarguy? This latest version will plot the correct 60 period moving average for the 5 min, 1 hour and 4 hour timeframes regardless of the periodicity of the chart on which you choose to plot it.

If this is the same indicator code you posted previously I apologise as I read it as using the 720 period on the 5 min as a proxy for the 60 period on the hourly which of course would not be accurate for the reasons stated previously.

 

[cigarguy]

3 Ducks Indicator

Is this the same indicator you posted previously cigarguy? This latest version will plot the correct 60 period moving average for the 5 min, 1 hour and 4 hour timeframes regardless of the periodicity of the chart on which you choose to plot it.

If this is the same indicator code you posted previously I apologise as I read it as using the 720 period on the 5 min as a proxy for the 60 period on the hourly which of course would not be accurate for the reasons stated previously.

Yes it is. I removed the prior post due to your concerns and did not want to post a misleading indicator. As stated previously, I thought it was a good idea, if the indicator worked properly, to have the ability to use it on a 4 hr chart for a quick scan for possible 3 Duck set ups.

With my limited knowledge of indicators and set up on the 4 hr chart, it appeared to show PA relative to the 3 60m moving averages.

So are you saying with your testing that it is working for you?

Just attempting to keep this method simple with clean charts. Traders helping Trades! I am new to this thread, but have been trading for many years using as few indicators as possible. (mainly s/r, pivots and round numbers)

Wishing you many pips....

Regards,
Cigarguy

 

[PieterSteidelmayer]

With my limited knowledge of indicators and set up on the 4 hr chart, it appeared to show PA relative to the 3 60m moving averages.

That's exactly what this indicator is showing - regardless of the timeframe of the chart on which you place it. But it's 60 periods not 60m.

So are you saying with your testing that it is working for you?

LOL. I'm neither testing it nor using the system, just commenting on the source code. The designer of this system has kept things simple and offers caveats which rely upon sensible discretionary activity on the part of the trader. All in all, most should do quite well if they stick to the rules and use their head when the rules seem ambiguous.

 

[cigarguy]

That's exactly what this indicator is showing - regardless of the timeframe of the chart on which you place it. But it's 60 periods not 60m.

So are you saying with your testing that it is working for you?

LOL. I'm neither testing it nor using the system, just commenting on the source code.[/QUOTE]

Ok, thanks for the input. Maybe it will help other Traders trying to keep it simple

Note: 2 quick UJ counter-trend live 1hr candle scalps on my ECN platform (not MT4)......My Bad. against trend but couldn't resist waiting for 3 Ducks.
I sometimes prefer many quick scalps rather than waiting for perfect set ups. Yes, its a lot of work for small pips, but it works for me. I trade different lot sizes based on current set ups. Here only 5K and 10K counter trend. Strong trend set up I increase to 20K + with good RR. Of course for this type of scalping I need low spreads with fast ECN executions.

I apologize for getting off 3 Ducks setups. Thread seems quiet attempting some activity.....
Regards,
Cigarguy

 

[PieterSteidelmayer]

I sometimes prefer many quick scalps rather than waiting for perfect set ups.

As long as you're making profits on a regular basis whatever you choose to do is fine. You are making profits on a regular basis I presume? If you're not, perhaps waiting for the perfect setups would help.

The opposite of KISS is MICFW.

 

[ajoe1]

Hello Ajoe1,

I posted the indicator in a prior post, but was advised by Pieter that it was not correct, so not being a coder person, removed the post. I found it on another thread (don't remember where) and thought it would be useful to glance at the 4 hr chart and see the 3 Duck trading possibilities and then drill down time frames from there.

Here it is again for you to play with and see what you think. I installed the 60m sma on the 3 Duck time frames, 4 hr, 1 hr and 5m and compared it to the indicator installed on the 4 hr charts and it appeared the same to me.

I think it was coded to be installed on the 4 hr charts only to show PA relative to the 60 sma at a glance on all three time frames? I am a trader not a indicator person. I prefer clean PA charts.....

Give it a try and advise what you think.

Regards,
Cigarguy

thanks alot!

 

[Captain Currency]

Ahoy Duck Hunters,

Scratching my head here .... technically the Ducks favor longs on Eur.Usd, current price is above the sma on the 4hr chart. But this auld sea dog would love to see Eur.Usd taking a run south again, back down to the 1.3500 / 1.3475 area over the next few sessions.

First we'd need to get price below the 1.3560ish area and back below the 4hr sma before us Duck Hunters could think about going short.

Hopefully you can catch a winner!

Andy
Captain Currency

 

[Captain Currency]

3 Ducks, Weekend of 15th - 16th Feb '14

Greetings Duck Hunters,

For the week ahead, (17 - 21 Feb) it looks like our Ducks would favor:

buying set-ups on these major pairs:
Eur.Usd (price above 4hr sma)
Gbp.Usd (price above 4hr sma) see chart below.
Aud.Usd (price above 4hr sma)

selling set-ups on these major pairs:
Usd.Chf (price below 4hr sma)
Usd.Cad (price below 4hr sma)
Usd.Jpy (price below 4hr sma)

buying set-ups on these cross pairs:
Eur.Jpy (price above 4hr sma)

selling set-ups on these cross pairs:
Eur.Gbp (price below 4hr sma)

Good trading to you for the week ahead and hopefully you can bag a winner or two,

Andy
Captain Currency




These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.

 

[Captain Currency]

3 Ducks, Weekend of 1st - 2nd March '14

Greetings Duck Hunters,

For the week ahead (3 - 7 March) it looks like our Ducks would favor:

buying set-ups on these major pairs:
Eur.Usd (price above 4hr sma)
Gbp.Usd (price above 4hr sma)
Usd.Jpy (price above 4hr sma)

selling set-ups on these major pairs:
Usd.Chf (price below 4hr sma) have a gander at chart below
Aud.Usd (price below 4hr sma)
Usd.Cad (price just below 4hr sma)

buying set-ups on these cross pairs:
Eur.Gbp (price above 4hr sma)
Eur.Jpy (price above 4hr sma)


Don't forget it will be Non Farm Payrolls this Friday coming the 7th but don't let that stop you from catching a few winning trades.

Chat soon,

Andy
Captain Currency



These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.

 

[Captain Currency]

Worst pair to trade at the moment for a trend trader = CABLE!!

I know it's sad but sometimes you can't help but laugh at the market ...

Flat, Dull, Drab, Uninteresting, Bland, Lifeless, Boring, Unexciting, Soul-destroying are words you could use to describe cable at the moment!

http://www.youtube.com/watch?v=VWWJLwPyfqI&list=UUbKV8vwBX5HGZLoinAiERYg

Have a great weekend,

Andy
Captain Currency

 

[Captain Currency]

I was giving up hope of finding another sensible thread after joining yesterday and quite accidentally finding one on my first foray onto the site and imagining that was a general indication of content quality.

This one is. Top marks. KISS will always win the day.

Cheers Pieter,

Have a great weekend.

Andy
Captain Currency

 

[Captain Currency]

3 Ducks, 27 - 28 March

Greetings Duck Hunters,

Aussie Dollar is a decent currency at the moment and the Aud.Usd pair is well worth sticking on your shortlist if you are thinking about trading over the next couple of days. Hopefully you'll be able to bag a decent winner or two.

http://www.youtube.com/watch?v=7O_COq-Nkes&list=UUbKV8vwBX5HGZLoinAiERYg&feature=share


If you need a bit of direction for the rest of the trading week (27 - 28 March) it looks like our Ducks would favor:

buying set-ups on these major pairs:
Usd.Chf (price currently above 4hr sma)
Usd.Jpy (price currently above 4hr sma)
Aud.Usd (price currently above 4hr sma)

selling set-ups on these major pairs:
Eur.Usd (price currently below 4hr sma)
Gbp.Usd (price just below 4hr sma)
Usd.Cad (price currently below 4hr sma)

selling set-ups on these cross pairs:
Eur.Gbp (price currently below 4hr sma)
Eur.Jpy (price currently below 4hr sma)

Chat soon Duck Hunters,

Andy
Captain Currency



These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.

 

[Captain Currency]

Greetings Duck Hunters,

Should be an interesting few sessions for Eur.Usd, I'll be gripped to see if the price can remain below the 4hr sma and push even further south into next week, go bears!

Our Ducks would favor the selling set-ups on Eur.Usd ( see chart below) but don't forget today is Non Farm Payroll Friday.

Have a great weekend Duck Hunters,

Andy
Captain Currency

 

[NVP]

hey Cap

hope all is well ..........I need to go through that latest video you posted to people who follow you ...............hopefully today

N

 

[NVP]

hey all

i'm a big fan of the caps 3 ducks ..............its simple and it works if applied using Caps rules and the usual Trading disciplines .............Many many traders ignore the simple stuff as they decide to eventually overcomplicate their trading techniques and strategies to achieve those Holy Grail profit promises that vendors sell us every day...........WRONG !!

anyway heres Caps third Big duck on the 4hr timeframe .......its my FXCorrelator on a 60ma showing where the currencies were moving in the last week or so

Remember under the Caps 3 duck rules you can only trade currency pairs where a currency is stronger (or weaker) than another currency in all 3 Timeframes on a 60ma setting

So this week on the 4HR TF - the BROWN CAD holds the strongest Currency position (top line)........some nice sells in the week on NZD , GBP and the Euro looked on the cards as they all dropped south on this TF and also lower ducks........

The Yellow Yen was the weakest currency (bottom line)....but see how it is now drifting north again and in reality not much was really then worth buying against it ....better oppportunities were elsewhere later in week

the Green USD (in bold) was walking a mid range path (as usual).......selling opportunities dried up as it rose in the week but we saw some possibles develop selling Euro , CHF and indeed NZD into it later in the week .....(waiting for the crossover :smart: !)

try the 3 ducks ...........for novice traders through to old hands ............its great to look at something with clear rules and guidelines ......and ready to trade the best pairs when the market opens up its gates up for profitable opportunities !

N :smart:

 

[NVP]

I just looked at the Caps latest e-mail and his new video

excellent - its a clear and simple communication regarding how to trade the 3 ducks

10/10

N

 

[NVP]

hey Cap and everyone ..............NVP here

Cap it was great to talk in the week ...........you advice was appreciated - thanks !!

meanwhile heres caps 3 ducks 4hr on a 60ma setting using my FXCorrelator .....it shows you all easily where each currency is sitting and what you can buy and what you can sell in relation to each ..................you then need to drop down to the other 2 ducks to get alignment and any trades possible .......

the story of the week was a falling USD ...........look at it on the chart

buying other currencies into the USD was the play (ensuring the 1hr TF and the 5min Tf on 60mas aligned).........did you make any money ?............I hope so

cheers Cap and all :smart:
N

 

[Captain Currency]

This pair is a bit of an outsider at the moment Duck Hunters but If you're like me and fancy shooting for a bit of positive Risk versus Reward I'd say keep one eye on those Yen pairs especially Eur.Jpy over the next few days or even into next week.

At the moment price is slightly above the 4hr sma on Eur.Jpy but a break below 1.4100 or even that 1.4097 area of support would get me bearish. It would also mean our Ducks would only favor the selling set-ups if the price crosses back below the 4hr sma (see chart below).

Stops-losses, for selling set-ups could be placed above hourly resistance or 5 min resistance if you're a bit more aggressive. Risk versus reward ratio; I'd say target or aim for at least 1.5 times your risk.

On the flip side Duck Hunters, all bearish interest would fade for me if price goes north and stays above that 1.4200 area.

Try and bag a few pips!

Andy
Captain Currency.