Captain Currency
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The 3 Drunks Trading System
Best Thread The 3 Duck's Trading System
- Thread starter Captain Currency
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jungles
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Re: The 3 Drunks Trading System
had fun with 3D this week, on paper +2%
yes, AUDUSD, nice hrly trend, plus 240 taking form
had fun with 3D this week, on paper +2%
yes, AUDUSD, nice hrly trend, plus 240 taking form
It was below the 60ma and the price broke below the low on m5....but I am new to this so not sure if it was a valid entry
Its a short break, you need to consider the strength of the resistance, how many times was the resistance tested, and I'd want to see a solid break then look for the next resistanceand work out the pip difference. Then look at the stop placement, work out your r:r and take decide if the trade fits you trade plan (you do have a trade plan right? If not plan one, demo trade, adjust till you have enough data to crunch your avg w:l /p/l see if your happy and then expect to take about a third of the profit in your pocket... Unforeseen costs 1/3, tax (hey this is gonna be a lucrative ft business right? And a 1/3 gross..) but yeah it was a good "entry" if it fits your trade management style, plan and above all risk... To me the 3D system is easy. All ma's down, sell all ma's up buy, the issue is trade management, you study this in demo and then learn it in a live account (imho). A bit like boxing train in the gym ans then get your a**se wiped in the ring, but if you sort your stamina, defence and discipline in the gym your are going to last longer and migh land some sloppy jabs but keep in there learn faster and stay longer you'll soon be dancing to the rocky tune hugging Apollo!
Peace and pips
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Captain Currency
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The 3 Ducks Trading System
TheBramble
Sad News
Got an email earlier today from Tony aka TheBramble account saying "I’m sorry to bring you sad news but Tony is is no longer with us."
I know his status on here is banned but I always liked Tony and am saddened to hear this news.
Andy
Captain Currency
TheBramble
Sad News
Got an email earlier today from Tony aka TheBramble account saying "I’m sorry to bring you sad news but Tony is is no longer with us."
I know his status on here is banned but I always liked Tony and am saddened to hear this news.
Andy
Captain Currency
Captain Currency
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The 3 Ducks Trading System
Re: The 3 Ducks Trading System
Haha, the ducks quacked today mate for sure, I got in on the break with a fib retracement and added to those ducks as they flew through the psycho zeros moving to break even then taking the tp's of on three positions has the last one breached 2pips I took 50+ pips in to nyopen by which time I just had a 12 pip trailing stop (not a massive fan of trailing stops but once a trade has breached my profit target ill sometimes trail instead of locking in profits with a stop loss, I got back on with a split trade one the nyopen started trending back on the 5min, and I trailed one and moved my sl to BE on the other half of the trade, picked up about 20pips on the first half and the secound hit my BE stop about 10pm ish. Good ducks today (much needed too! After yesterday's messy entries I did, mind nothing like a a** kicking and a sheepish wound licking session to focus to mind! Good hunting + peace and pips
Haha, the ducks quacked today mate for sure, I got in on the break with a fib retracement and added to those ducks as they flew through the psycho zeros
moving to break even then taking the tp's of on three positions has the last one breached 2pips I took 50+ pips in to nyopen by which time I just had a 12 pip trailing stop (not a massive fan of trailing stops but once a trade has breached my profit target ill sometimes trail instead of locking in profits with a stop loss, I got back on with a split trade one the nyopen started trending back on the 5min, and I trailed one and moved my sl to BE on the other half of the trade, picked up about 20pips on the first half and the secound hit my BE stop about 10pm ish. Good ducks today (much needed too! After yesterday's messy entries I did, mind nothing like a a** kicking and a sheepish wound licking session to focus to mind! Good hunting + peace and pips
Captain Currency
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Re: The 3 Ducks Trading System
Captain Currency
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The 3 Ducks Trading System
jeremiahkn
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Guys is it possible to turn this 3 ducks trading system to an automated trading software or do you think manual is the only way to trade it?
NVP
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ChattiFX
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I use a similar system to the 3 Ducks and automate through a Metatrader EA. Although I only use the automation for opening, initial stop loss and moving to break-even. I exit manually.
Since automating I have found it really good for working back to analyse strategy performance but I would say that automation isn't for everyone and will really depend on what your entry parameters are.
Cheers.
neil
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If you got the FREE E-Book you will see that the author does not recommend auto trading. He recommends you use a hands on intelligent thinking approach
Good luck with your studies
"Great Approach But Not To Be Automated
The 3 Ducks Trading System is a discretionary approach and not a mechanical
system; it is a bit like the SatNav in a car.
The SatNav in my car tells me which direction to drive in, it does not control or drive
the car for me, I do that bit.
The 3 Ducks Trading System is a sound logical approach to help you trade in the
direction of trends, observe price action and buy and sell at levels that confirm
strength.
The trader always needs to us their discretion and judgment, you should never
attempt to automate this approach and just the same way as you would never let
your SatNav drive your car for you."
If you got the FREE E-Book you will see that the author does not recommend auto trading. He recommends you use a hands on intelligent thinking approach
Good luck with your studies
"Great Approach But Not To Be Automated
The 3 Ducks Trading System is a discretionary approach and not a mechanical
system; it is a bit like the SatNav in a car.
The SatNav in my car tells me which direction to drive in, it does not control or drive
the car for me, I do that bit.
The 3 Ducks Trading System is a sound logical approach to help you trade in the
direction of trends, observe price action and buy and sell at levels that confirm
strength.
The trader always needs to us their discretion and judgment, you should never
attempt to automate this approach and just the same way as you would never let
your SatNav drive your car for you."
Slightly off topic but if the system was to be automated would you be able to sell it?...could you sell it via the MQL4 community and do you know what Metaquotes/ broker takes out of the pot?
neil
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Well off topic.
If you want to discuss automation could you start your own thread so that those of us remaining can keep on track with the Captains original system.
