3 Ducks Demo journal

[mentormeplease]

Hi,

I just received the free ebook from Captain Currency and decided to start a new journal using this system. I have been trading for a few years with no success whatsoever and have lost horribly in the market. I put these loses down to ill discipline and lack of a solid strategy. Part of the reason for doing this journal is to keep me disciplined. I will use a demo account to test this strategy with a view to trading it on a live account once I feel confident and comfortable. I will only post here when I have time but will put up screenshots of the charts and account balance, etc.

 

[mentormeplease]

This is a setup that I traded earlier (GBPUSD) today which resulted in a loss of $170.

Entered the position on the left arrow and was stopped out on the right arrow. With all trades I am looking for a 2:1 RR.

 

[mentormeplease]

There were three other setups (USDCAD, USDCHF and EURGBB) that I placed my orders for. These were the setups and at present they are in profit. Lets see how it pans out.

 

[mentormeplease]

I posted the incorrect chart for the losing trade. Heres the correct chart.

 

[mentormeplease]

There seems to be another setup on gu with short entry at 1.5467. I'll pass on this as price seems a bit choppy with the low from 25th offering some support.

 

[mentormeplease]

Its seems like gu was the way to go. Can't view my other trades from here will check them tomorrow and post the results. I'm following the "set and forget" method described by Andy (Captain Currency). My s/l and tp are all set. Will post the screenshots of the positions tomorrow.

 

[Doomberg]

Good luck with this journal mate

 

[mentormeplease]

Good luck with this journal mate

Thank you.

 

[mentormeplease]

Ok yesterday was an excellent day. We had 2 winners and one loser with one trade still open through a miscalculation on my part. I had placed my tp buy order on the EURGBP at slightly more than 2:1 R:R which means my order was not filled and it would have been had I calculated correctly. Lesson to be learnt, double check calculations before placing orders. So lets move on.

Yesterdays summary:
Losing trade = 17 pips (-$170)
Winning trades = 123 pips (+$1238)
Yesterdays total = +106 pips (+$1066)

You will notice from the attached statement that the trades all had a 2:1 R:R.

I started with $5000 in the demo account and made some arb trades before starting with the 3 ducks in a row strategy. The balance was then on $4998.

Balance after yesterdays trades (Excluding open trade) = $ 6066

 

[mentormeplease]

The pairs that I'm looking at show no definite setups at the moment. Will continue monitoring them during the day for any signals.

 

[mentormeplease]

Signal for EURGBP but I'm already in a trade in this pair so will not add to the position.

 

[mentormeplease]

EURGBP target reached.
Profit = 29 pips ($461)
Balance = $6526

 

[mentormeplease]

USDCAD seems to be lining up

 

[mentormeplease]

USDCAD order placed. "Set and forget"
Open: 1.0394
S/L: 1.0373
T/P: 1.0436

 

[mentormeplease]

Order filled. Looking for 42 pips with 21 pip risk.

 

[mentormeplease]

Stopped out for $203 loss
Balance $6323

 

[mentormeplease]

Good setup here. Could trade a break of the symmetric triangle forming but will stick to the rules and place order on break of the support at 0.8374

 

[mentormeplease]

Order placed
Sell at 0.83740
sl: 0.84040
tp: 0.83140

 

[dazzer_fx]

Stopped out for $203 loss
Balance $6323

Hindsight is easy but buying just below 400 probably not the best setup, I think
this is where the discretion part comes in.

 

[mentormeplease]

Yes you're right, round numbers and support and resistance. In this case resistance. Thanks, I must try and bear these in mind as well.