3 Ducks Demo journal

spreadbettingnurd

Active member
125 2
After losing over the last two years spread betting Indices , equities and forex I am going to demo trade forex using the 3 Ducks method.

My aim is to use a demo spread betting account until August 2013 and then go live.

This demo journal will be a record of my trades and will [I hope lead to greater discipline in trading to a plan.]

Please feel free to comment on any of my trades.
 
Last edited:

spreadbettingnurd

Active member
125 2
`Although my last three trades were completed before I opened this demo journal , I will post them here as they represent the start of my demo trading,
 

spreadbettingnurd

Active member
125 2
10.1.13

Buy of the CHF/JPY @ 96.527. Stop 30 pips.

Reason behind the trade is that the ' 3 Ducks ' lined up and the yen is under a period of sustained pressure.

As soon as my trade was in profit I pulled my stop to break even and then up to a point where half of my paper profit of 100 pips was guaranteed.

Trade was closed @ 98.079 for a 155 pip profit on 14.1.13.

Aggregate profit since start of this journal + 155 pips. :)
 

spreadbettingnurd

Active member
125 2
14.1.13

Sell of the CHF/JYN @ 97.85.

Reason for the trade : a reversal / pull back of the CHF.

Note this pair move very quickly , I took advantage of a short term bearish trend of the CHF.

Trade closed @ 97.75. 10 pips profit. 14.11.13.

Agg profit + 165 pips. :)
 

spreadbettingnurd

Active member
125 2
14.1.13

Buy of the AUD/CHF @ 0.97167.

Reason for the trade : line up of the 3 Ducks
short term weakness of the CHF.

14.1.13 Closed the trade @ 0.97369 + 20 pips.

Agg profit + 185 pips.:)
 

spreadbettingnurd

Active member
125 2
I am sure that I have enjoyed a case of beginners luck with my journal.I do not expect this good run to continue - so I will be vigilant with my future trades .I often in the past become sloppy after a good run and complacent.

I think an important factor behind my recent success , lies in my moving my stop to a BE point quickly and having a modest sized stop compared to the massive ones I used to use in the past.

I have also resisted the temptation to let a loosing position run or to panic and switch trades..I have also used a modest stake size [4 % of my trading bank].I know this is a larger lot size than that used by the majority of traders ,but it is a far smaller stake than I have traditionally used in the past.
 
Last edited:

spreadbettingnurd

Active member
125 2
I forgot to mention that my trades are based on a mix of Technical and Fundamental analysis.

I begin each day looking at the Forex calender and make a point of keeping out of trades on a day when significant data is released.

I also look at the correlation between currency pairs.

I am looking to trade Exotic pairs [ as a thory that I hold, is that these pairs appear to have a stronger tendency to trend than the major pairs].

My style of trading, suits strong trending pairs ,as I am a poor trader of range bound markets.
 
  • Like
Reactions: justtrader

neil

Legendary member
5,167 746
Apart from the 3 Ducks method I will focus on price action and Support and Resistance areas.
Meaning you will incorporate price action and support/resistance within the Three Ducks approach. If so then that is a very good idea since I find support and resistance areas crucial to a trading approach(y)
 

spreadbettingnurd

Active member
125 2
Neil,thanks for your positive comment. I always strive to 'incorporate price action and support/resistance within the Three Ducks approach'.
 

spreadbettingnurd

Active member
125 2
I am expecting this to be a kiss of death - my first live trade !

Sell of GBUSD @ 1.60575.

Three Ducks have lined up , and the Daily 60 sma looks as if it is going to be breached soon.

Stop 40 pips - Target 80 pips .

Looking to move my stop to BE as soon as possible.
 
Last edited:

spreadbettingnurd

Active member
125 2
I have moved my profit target to 1.060210 [as this is just above my 'Support' line on my daily chart.[35 pip target].

One of the objects of this journal is to get a sense of where to place my stops and targets and to get a feel for the personality of different currency pairs.

I have a paper profit of 10 pips at the moment.
 

NVP

Legendary member
36,782 1,881
I am expecting this to be a kiss of death - my first live trade !

Sell of GBUSD @ 1.60575.

Three Ducks have lined up , and the Daily 60 sma looks as if it is going to be breached soon.

Stop 40 pips - Target 80 pips .

Looking to move my stop to BE as soon as possible.
Nice call...........USD and Yen are pushing north today (so far) and the Europeans are folding

nice :smart:
N

i'm a big fan of Andy and his 3D.......
 

btkelly

Junior member
13 0
I forgot to mention that my trades are base

I was very interested in your trading Journal based on the 3 Ducks method Nick.

Now forgive me for saying that your inclusion of so many other factors that you are combining with the 3 ducks rules make this too broad a method to have any real substance for anyone else besides yourself to follow.

It would be great if someone wrote a journal or blog indicating the trades they have using the rules of the 3 ducks method only. If I get time I might even do it myself and it would be simple and straightforward which is what the method is all about.
Thanks anyway for sharing .btk
 

NVP

Legendary member
36,782 1,881
I forgot to mention that my trades are based on a mix of Technical and Fundamental analysis.

I begin each day looking at the Forex calender and make a point of keeping out of trades on a day when significant data is released.

I also look at the correlation between currency pairs.
I am looking to trade Exotic pairs [ as a thory that I hold, is that these pairs appear to have a stronger tendency to trend than the major pairs].

My style of trading, suits strong trending pairs ,as I am a poor trader of range bound markets.
hey there

can you share anything on this area ?.....no worries if you dont want to ;)

N
 

Similar threads


AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock