Best Thread The 3 Duck's Trading System

[davidnmfarrell]

Congratulations Andy, all the best.

 

[demons19]

Hello all,

Just to let you know I wont be posting as much on here for the foreseeable future as my wife will be having our first child soon. :help:

Best wishes to all those in persuit of trading success,

Andy.

Congrats on the baby, does this mean I cant get a copy of your ebook too?
I have sent a couple emails to no avail

 

[shadowninja]

Congrats!

 

[chump]

Looks like you didn't get out for a 'duck' on this one. New system name 4 ducks and watch out for the puke ,you newbies get stopped out on that stuff everytime. Tip if you like your car get some plastic sheeting for the car seat and the well in front of the seat you can't rely on a moving average to support that stuff !

 

[rags2riches]

Hello all,

Just to let you know I wont be posting as much on here for the foreseeable future as my wife will be having our first child soon. :help:

Best wishes to all those in persuit of trading success,

Andy.

Congratulations and all the best.

Enjoy the more important things in life.

 

[MrBad]

Hello all,

Just to let you know I wont be posting as much on here for the foreseeable future as my wife will be having our first child soon. :help:

Best wishes to all those in persuit of trading success,

Andy.

Congatulations captain , with God's bless

 

[demons19]

Thanks for the ebook CC, received it today!

I had a question for those of you who are already using it.....Do any of you live on the west coast of the US?
what pairs are good for this system since 7am-4pm GMT is not very convenient?
Thanks

 

[mercury7]

can anybody help me...am using Oandas
charts which only have 3 hour time frame whereas i need 4H t/f instead for 3 ducks system...can anybody suggest an alternative charting system I can use for free which uses 4 hrs???

Regards Kevin

 

[davidnmfarrell]

can anybody help me...am using Oandas
charts which only have 3 hour time frame whereas i need 4H t/f instead for 3 ducks system...can anybody suggest an alternative charting system I can use for free which uses 4 hrs???

Regards Kevin

Have a look at ChartStation.

 

[Crap Buddist]

Captain Sensible

pssst. just between me and the rest o the world I think he'll be postin more than ever once Junior Currency comes into the world. And in that spirit I wager....


8 lb 3-5 ounces. who's buyin or sellin that mark ?




Nice one CC dont forget the cigar at the birth and make sure you have a good rest after..

 

[Splitlink]

can anybody help me...am using Oandas
charts which only have 3 hour time frame whereas i need 4H t/f instead for 3 ducks system...can anybody suggest an alternative charting system I can use for free which uses 4 hrs???

Regards Kevin

http://www.dailyfx.com/charts/ChartStation.html

 

[portomar]

pssst. just between me and the rest o the world I think he'll be postin more than ever once Junior Currency comes into the world. And in that spirit I wager....


8 lb 3-5 ounces. who's buyin or sellin that mark ?




Nice one CC dont forget the cigar at the birth and make sure you have a good rest after..

congrats captain...

ill say 11lb 10ounces

 

[davidnmfarrell]

Used this method successfully today on EURUSD. Got a signal at approx 16:00, jumped in at 1.636 and got out at 1.666 (limit order - I was in a meeting!!).

That makes it 6 profitable trades out of 7 so far...

 

[lazerradial2003]

Used this method successfully today on EURUSD. Got a signal at approx 16:00, jumped in at 1.636 and got out at 1.666 (limit order - I was in a meeting!!).

That makes it 6 profitable trades out of 7 so far...

I'm having similar success with a version of this system, just wondering how you came to your 30 pip profit limit order? Scarily close to the size I normally use for this system! What sort of fine tuning are you doing on M5 to determine entries?

Ben

 

[davidnmfarrell]

I'm having similar success with a version of this system, just wondering how you came to your 30 pip profit limit order? Scarily close to the size I normally use for this system! What sort of fine tuning are you doing on M5 to determine entries?

Ben

Hi yeah, well using this method over a short time (ie less than an hour) Ive found that on average you can expect 30-50 pips per signal. In this case I set a conservative stop because the market had already jumped from around 1.525 in the past couple of hours, and I was going into a meeting so I wouldnt be able to monitor the trade.

I only enter when the price crosses the last indicator (today it was the H1). My rule is that it has to cross by a few pips and hold there for a minute, before I enter the trade.

Ok, so that's what I'm doing, now I'm curious, what method are you using?

 

[lazerradial2003]

Hi yeah, well using this method over a short time (ie less than an hour) Ive found that on average you can expect 30-50 pips per signal. In this case I set a conservative stop because the market had already jumped from around 1.525 in the past couple of hours, and I was going into a meeting so I wouldnt be able to monitor the trade.

I only enter when the price crosses the last indicator (today it was the H1). My rule is that it has to cross by a few pips and hold there for a minute, before I enter the trade.

Ok, so that's what I'm doing, now I'm curious, what method are you using?

I've been waiting for H4 and H1 to line up then waiting for M5 to cross, if it's already crossed then I wait for it to retrace and cross in the desired direction again. Actual entry is after it has crossed and hit either the previous high/low from when it last crossed (if it's moving a fair bit) or if it's previously been consolidating then when it breaks out of the consolidation zone.

I also tweak this if there are any key SR levels or News events coming up and if either is coming up I tend not to trade. SL is twice the average true range, still tweaking that and usually take profits at 1:2 risk to reward ratio or 30 pips, generally 1:2 R:R works out about 28 to 30 pips for me.

That's about it, still a work in progress but an interesting one!

 

[portomar]

Hi yeah, well using this method over a short time (ie less than an hour) Ive found that on average you can expect 30-50 pips per signal. In this case I set a conservative stop because the market had already jumped from around 1.525 in the past couple of hours, and I was going into a meeting so I wouldnt be able to monitor the trade.

I only enter when the price crosses the last indicator (today it was the H1). My rule is that it has to cross by a few pips and hold there for a minute, before I enter the trade.

Ok, so that's what I'm doing, now I'm curious, what method are you using?

by my reckoning, taking traded decisions on the h1 goes against three ducks system?? i had a few bad trades using this, but it was in a period of low volatility in eur/usd in particular. any chance of a chart of a succesful trade someones done recently??

 

[lazerradial2003]

by my reckoning, taking traded decisions on the h1 goes against three ducks system?? i had a few bad trades using this, but it was in a period of low volatility in eur/usd in particular. any chance of a chart of a succesful trade someones done recently??

Yeah I agree, I think the original idea of the system was to use the 5 minute to fine tune entries. That's not to say there's anything wrong with modifying it...

 

[portomar]

yea absolutely, may work better the way david is doing it at the moment, maybe because dollar and euro are bouncing off highs again.

 

[Andy Bridden]

yea absolutely, may work better the way david is doing it at the moment, maybe because dollar and euro are bouncing off highs again.

I thought the whole point of this system was to use the 5 minute chart as the entry point? And not the 1 hour chart? My understanding is that if the price is above the 60 period m.a. on both the 1 hour and 4 hour charts then you should buy based on the 5 minute chart when the most recent high has been cleared.

Trading on the basis of a one hour chart surely makes this a 2 ducks system rather than 3 ducks