Best Thread The 3 Duck's Trading System

Captain Currency said:
Hello Portomar,

Does your nickname come from Portmarnock? A nice little area in Dublin beside the sea side. I nearly bought a house there once :)

Ok, I'le try and answer your Q's:
"A period of all time dollar highs and colsolidation" are you talking about the period of Eur highs a few weeks ago?
I think the market is always making new oppertunities across different currency pairs. As I said a few times before, use the 3 ducks as a guide in addition to your own market knowledge ie sideways market, trendie market or volatile market conditions.


No sure if I completly understand the second part of your question :sneaky:
Are you saying that if the price has moved a lot ie 50-100 points before it crosses the 5min sma, then the goodness might be gone out of the move? Yes, that can happen but most oppertunities will look different.

Dont know if I would use your words to describe the above situation "increasingly likey to reverse". It maybe a trade oppertunity I would pass on. :whistling

Hope that helps a bit.
Click to expand...

ye my name does refer to portmarnock, im originally from there!! had a swim out there yesterday actually it was beauty!

the period i was referring to was bout 2 months ago, may have minced my words with my point but basically it didnt seem like the dollar was going anywhere against euro and vice versa.

as for your second point, i suppose thats what i mean, like if it has moved a far amount in a short time (it always seemed to have when two ducks lined up and i was watching the third) it seemed to reverse straight after breaking the high after third duck. admittedly i had a low amount of trades so a low sample number.

i do appreciate all sysems have a huge discretionary element, which is probably why i havent made this one work just yet! :eek:

ps hows mother and baby doing?? good i hope?
 
portomar said:
ps hows mother and baby doing?? good i hope?
Click to expand...


Junior is still doing time on the inside. His/her release date is the 10th of July. I don't think junior will be release early for good behaviour as Mrs Currency is getting elbowed in the ribs on an hourly basis :cry:
 
hazenvnn said:
I cannot find where to download. Anyone have good EA ?
Click to expand...


someone else who wants something for nothing ?

Captain Currency will describe his methodology for you, it's up to you to apply it.
That means hard work, something a surprising amount of forex players are reluctant to engage in - are you one of those too, or are you prepared to put some hard work in ? The results would be worthwhile, I can assure you.
But nothing for nothing, my Friend.
 
r_e,

Shame on you. You are discouraging donors. How could you?

Nine
 
sorry 9,
i got up too late to go to church today, so tried to make up for it by being helpful to someone.

Apologies, it won't happen again. Normal service has been resumed.

Donors, this way please >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
 
Eurusd Trade for 5/19

I have attached the daily chart that I used to confirm the 3 ducks entry I made LIve last night. I think its unbelievable how the pair bounced off the 38.2 several times. I made 40 pips early this morning. I am hopeful that the eurusd hits the 138 ext. for my long term demo trades. Hope this helps!

Gary:)
 

Attachments

  • eurusd.jpg
    eurusd.jpg
    292.4 KB · Views: 160
Had my first proper look at this strategy last night. It's certainly simple, but that's maybe what's nice about it.

Opened short USD/CAD and short USD/JPY late yesterday evening (UK time), then long EUR/USD early this morning, and am now on the sidelines again with +52 pips across the 3 trades. Directionally they were all absolutely spot-on; my failure to fully benefit from the moves I expected stemmed from poor (or perhaps over-zealous) money management on my part.

Long EUR/USD (25 pip loss)- stopped out on a whipsaw so missed the 100+ pip move almost immediately thereafter.

Short USD/JPY (14 pip gain) - met a similar fate on the same whipsaw, albeit with some profit already banked.

Short USD/CAD (63 pip gain) - survived the blip that took out the other positions then crashed handsomely into my limit stop at 98.50 a while later. Was moving so quickly by this point that I couldn't even manage to alter my order, so left a few points on the table.

Apologies for lack of pictures to show entry points, but this accursed work PC doesn't agree with Java.

All in all, a nice introduction to the strat.
 
Gramme

Looks like an excellent job! I like the simplicity of this system, although I think that the times that you make your entry is very important. Do you find that most of your entries are 7-8 UK time? I see that the usdcad entry was later, but would you say that most are done before market opens UK time? Do you use any other indicators i.e. fibs to validate your entry?

Gary
 
Hello Gramme,

That was an honest bit a posting on your part :cheers:

You are correct, the 3 ducks will help you get the direction correct.

As for stop losses...... because trading is not a perfect game, the size of your stop loss will either be correct or wrong :cry: A 30-50 pip stop loss would have been fine on some trades last week, this week it may have needed a bit more room.


Is there a happy medium?


Kind regards,
 
Captain Currency said:
As for stop losses...... because trading is not a perfect game, the size of your stop loss will either be correct or wrong :cry: A 30-50 pip stop loss would have been fine on some trades last week, this week it may have needed a bit more room.

Is there a happy medium?
Click to expand...

Captain -

Well, the heartbreaker was certainly the missed EUR/USD trade. My stoploss was 25 pips, but 30-35 pips would have kept me in the trade for the bigger move I was waiting for. It's a thin line, as you imply. I think I need to do a bit more work to consider the size of 'typical' daily trading ranges on the pairs I watch, then set stops accordingly - the 25-pip stop I chose was pretty arbitrary/crude, to be honest.


Gary -

No other indicators at present, because I want to see how the bare-bones system functions first. As for trading times, UK evenings (and perhaps early mornings) are likely to be key times for me purely because the day job gets in the way otherwise.
 
Thanks for the input. I have tested the system for several weeks and have found that the euro session and the NY session have the best opportunities. I use the system as explained by the Captain, but I really have confidence when the fibs line up exactly with the 3 ducks.....
 
shadowninja said:
I saw Mystic Meg enjoying a coffee in Kensington the other day. She looked pleased with herself so I punched her in the face. Well, they say you should try to strike a happy medium.
Click to expand...

Frankly I'm surprised she didn't see that one coming.
 
You must log in or register to reply here.

Similar threads

P
Anyone still trading the 3 Ducks system?
Replies
1
Views
2K
timsk
timsk
M
Metatrader EA live trading for 3 duck system?
2
Replies
28
Views
14K
NVP
NVP
R
3 Duck's system confusion (yeah, I know...)
Replies
11
Views
3K
RealSavoy
R
Y
Other fx systems
21 22 23
Replies
447
Views
57K
Denman
Denman
CavaliereVerde
[DARWIN] TTD by Captain Currency
9 10 11
Replies
210
Views
32K
Captain Currency
Captain Currency
Top