Best Thread The 3 Duck's Trading System

Nigel-P
Thanks for all your posts. You have revived my interest in the 3 Ducks. I have almost ignored the original method since taking Andy's 1 to 1 but I am now going back to using that as well. (y)
 
heres the duckfest on friday - viewed through the FXcorrelator (X-men Version)

Left chart is a 4hr on a 60ma (all week)
Right charts is a 1hr on a 60ma (Friday)
5min chart not shown as to fast

the green USD got some real pain didnt it ?

I assume the 3 duck system was indicating a few nice USD sells on those pairs (y)

N
 

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Just finished reading through the thread.I downloaded the PDF about 2 years ago,and never tried it out.After 2 years of forex trading my account is exactly where it was when I started. So here goes ,I intend to stick with this method and make it "my own".Last week 4 trades for 3 wins,but only 16 pips .Obviously S/L and T/P need work.Nigel-P your insights are great.(y)
Good trading everyone
 
Good trading to you for the week ahead.

2 pairs you could be keeping a close eye on over the next few days are;

1. Eur.Gbp - looking for the selling oppertunities.

2. Gbp.Usd - looking for the buying oppertunities.


Don't forget this Friday is Non Farm Payroll.


Andy
 
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Hello Duck Hunters,

Eur.Gbp - this pair has been on my “TOP 3” pairs to trade over the last few weeks. The Pound has been waaaay stronger than the Euro recently and hasn't been this low in almost 2 years. Your 3 Ducks have been flapping their wings trying to tell you to sell, sell, sell when they line up.

I will be looking for the selling opportunities in the coming days when my Ducks line up.

A 20 pip Stop-Loss and a 40 pip Take-Profit might be a good strategy on this pair at the moment.


Best wishes with your trading.
Andy.


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 of or reliance on such information.
 
So far so good,4 out of 4 trades won this week,Thanks Nigel-P for your posts about not just 3 ducks lining up,but looking at S/R etc.Thurs night here in Oz,NFP tommorrow so shutting computer down and back into it Mon night.
Good trading all
Liney
 
Having taken a bit of a break from looking at the charts over the weekend I had a go with the ducks this morning.

USD/CHF -13 pips
USD/JPY +10 pips (closed it out manually)
Euro/USD +20 pips

I was looking at a Cable trade after the fibre had closed itself out but it seemed to me that it was going to stick at support, so just decided the best trade was walking away.

I wouldn't normally enter 3 trades at the same time but total risk between the lot of them was 1.5% and just forcing myself to only use the ducks to trade, which includes making the trade when it is actually on.
 
Hello FEARLESS Duck Hunters,

When Trading Forget Fear & Listen To Logic - Lately the Euro has been weak and is still under selling pressure across the board.

The 3 Ducks is a very “Black & White” logical approach, it tells it as it sees it.

As soon as you look at your 1st Duck on the 240 min chart it favors shorting these 3 pairs;

1. Eur.Usd (selling Euro)
2. Eur.Gbp (selling Euro)
3. Eur.Jpy (selling Euro)


As a currency trader it is your job to logically observe and make money by selling the weak currencies.

Mind your Emotions - What FEAR Can Do
1. Fear will often stop you from entering a good trade or make you jump out of a good trade too soon.

2. Fear will often put doubt in your mind.

3. Fear will confuse you and give you many different scenarios and get you over analysing your charts.

Trust Me
Most new trader look at their charts emotionally and trade emotionally. Its going to be very difficult (probably impossible) to trade consistently and to make money if you are full of fear in your trading.

Use your 3 ducks to look at your charts logically and always try to trade logically too. Trust me, as soon as you start doing this you will progress into a better trader.

What I’m Logically Looking at
In the coming days I will be looking for the selling opportunities on Eur.Usd, Eur.Gbp and Eur.Jpy when my 3 Ducks line up, will you?

Best wishes with your 3 Ducks Trading,

Andy

Will FEAR Ruin My Trading? Emotions in Trading - YouTube



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 of or reliance on such information.
 
i had go on the ducks on demo. last night i did 3 automated trades eurusd, aususd and usdcad. all were
winners and gained 15pips on each pair. total 45 pip profit and i was happy. i thought i finally found a system that worked. but today i lost all trades, i understand that the system isnt a holy grail and losing is part of the game. just wondering how i could filter out the bad signal on the 5min chart.

cheers
 
i had go on the ducks on demo. last night i did 3 automated trades eurusd, aususd and usdcad. all were
winners and gained 15pips on each pair. total 45 pip profit and i was happy. i thought i finally found a system that worked. but today i lost all trades, i understand that the system isnt a holy grail and losing is part of the game. just wondering how i could filter out the bad signal on the 5min chart.

cheers

post some charts, with your analysis where u took the position etc, and some guys here may be able to help you
 
i had go on the ducks on demo. last night i did 3 automated trades eurusd, aususd and usdcad. all were
winners and gained 15pips on each pair. total 45 pip profit and i was happy. i thought i finally found a system that worked. but today i lost all trades, i understand that the system isnt a holy grail and losing is part of the game. just wondering how i could filter out the bad signal on the 5min chart.

cheers

Hi Tiger,

I just want to point out a slight contradiction there in your last couple of sentences that might help you out. I'm not trying to make an example out of you or anything and I hope you take on board the suggestion in the good spirit with which I intend it. It might help a few other traders too.

You say that you know that the system is no holy grail and losing is part of the game. Then you wonder if there is a way of filtering out the bad trades on the 5 min chart.

That second sentence is where a lot of people, me included, have gone wrong in the past when trying to learn to trade. I would hazard a guess that attempting to do precisely this has ruined many traders' careers.

Understanding that there is no holy grail is a good start. But a more refined way of putting it is that there is no reward without risk. They are both parts of an equation and you can't have one without the other.

Take the losses on the chin and accept that they are part of the process, and will be, no matter what trading approach you use. Don't attempt to filter them out with indicators or whatever. They are inevitable and they are healthy. People get sucked into spending countless hours testing indicators and filters trying to get rid of losers when there is really no need to.

Once you have accepted that losers are part of the game, and that you will have lots of them, you should focus on the other half of the equation. This of course is the winners, because they are inevitable too. All you have to do is to try as much as possible to make sure that the winners are bigger than the losers. I always try to do this in 3 Ducks trading because I know that I am trading in the direction of the trend. Price is more likely to continue than it is to reverse (Newton's Law). So when the market is paying out I take as much as possible; when it is not paying out, I give as little back as possible. That is the essence of good trading.

If you are applying the 3 Ducks rules you don't need any more filters. You have already put the odds in your favour; you are trading with the trend at your back. Once you really grasp the logic of this losers will not annoy you in the slightest, because you know that it is inevitable that a bigger winner is coming along soon. That is the strength of trading with the trend.

Another key is patience; Andy has a video on this a few pages back. You won't get great trades everyday. The market simply doesn't work like that. Some days it moves, some days it goes nowhere. Sometimes it goes nowhere for weeks on end. If you trade everyday you are going to get a lot of losers. Part of the strength you need is to be able to get up in the morning, check the screen and say that there is nothing there you like the look of and close the platform. It takes discipline to be able to walk away and wait until a better opportunity presents itself.

What would you prefer, taking 2 good trades in a month and adding 10% equity into your account or sitting in front of the screen for 18 hours a day taking every trade that presents itself and ending up with the same result? Remember too, if you trade just once everyday on a currency pair which has a 4 pip spread, you have to make 80 pips in that month just to breakeven, given a 20 trading day month. Just something to think about.

Hopefully my uninvited interjection has been of some help Tiger; all the best with your trading!

By the way, victorharbor and liney, thanks for the kind comments a few pages back.

As far as my own trading is concerned, I'm back to my old nemesis again, Eur/Usd. I sat out the recent uptrend and now that the 4 hour is pointing down again I am looking for chances to sell.

Good trading everyone,

Nigel
 
Greetings Tiger2008,

A Good Thought for You and Other Traders
As Forex Gump said today ‏ "Just remember if you're seeing progress each week. Don't give up. There is no short cut to any place worth going."


Andy



PS Greeting Rathcoole Exile, hows the kids?
 
3 Ducks are flying.

Order set to sell GBP/USD at 16120, seemed like a sensible place given the recent lows from the 5 min chart. (around 4am GMT).

Stop loss set at 16137
TP set at just under 2:1 at 10689

It is also a bit choppy around there so make take some time to get down there. Also resistance expected at the 16100 point.
 
I may have, I might be taking the longer term view....

Totally correct of course.

As I am stuck at home and kept watching the charts I took off some of the position at 16106, moved the SL to where I entered and the TP down another 20 pips.
 
post some charts, with your analysis where u took the position etc, and some guys here may be able to help you

cheers. also thanks to andy and nigel for their quick responds.

i had another attempt last night, USDCHF (maybe my timing isn't right) I kept my

stoploss below the 60sma on the 5min chart.

can someone have a look and maybe see what i did wrong. (charts attached)

cheers
 

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