Metatrader EA live trading for 3 duck system?

[Hittfeld]

I use MT4 and trade the Alligator indicator with a lot of success trading GBPJPY. Like 1000 pips a week. The principle is exactly the same, but IMO it is superior to 3 Ducks and easier to read, not least because you only need the one chart open. As with 3 Ducks the entry is easy; the key to success is finding an exit strategy to suit the pair you are trading.

If you are going to trade using it, it would be a good idea to get the book Trading chaos - Second Edition by Bill Williams and daughter, in which it and other strategies are explained.

Hi SandyW,
are you just using the Alligator or all the wise men as well?

Thanks

Hittfeld

 

[HW07]

I use MT4 and trade the Alligator indicator with a lot of success trading GBPJPY. Like 1000 pips a week. The principle is exactly the same, but IMO it is superior to 3 Ducks and easier to read, not least because you only need the one chart open. As with 3 Ducks the entry is easy; the key to success is finding an exit strategy to suit the pair you are trading.

If you are going to trade using it, it would be a good idea to get the book Trading chaos - Second Edition by Bill Williams and daughter, in which it and other strategies are explained.

Don't know the Aligator and it's use, but will check it.

I papertraded/ing 3 ducks with really mixed but overall profitable results. If one dont map the chart S&R zones carefully it can lead to nasty suprises. The other thing bothering me is the placement of stops. Sometimes it is way too wide for my risk tolerance.

At the moment i am moving towards trading from one hour charts and longer timeframes as my work doesn't always permit to manage trades constantly. If using pullbacks instead of breakouts, the stops can be still tighter than with 3 Ducks. I still love and convinced about it, but can't do it as it is very intraday

Thank you for the book tip, will read it.

 

[HW07]

Must admit, the IG platform just seems to get better.
Sorry, but what is an EA?
Thank you,

EA stands for Expert Advisor which is an indicator based code able to execute your strategy in your trading platform. There are plenty around for Metatrader 4

I referring to it as the backtesting in IG platform can give you trading signals with alerts as your test is running. Awesome

 

[Hittfeld]

If you are interested in Trading Chaos II, there is a ppt file on FF, which explains the whole system - completely: Just google for CHAOS ANALSIS 2008

Regards

Hittfeld

 

[SandyW]

I am trading the Alligator, but like to get confirmation of Trade entry with a fractal breakout. I like to get into the trade as soon as the Alligator MAs have started to move in one direction and are lined up green, red, blue in the "right" order (3 Ducks really aren't they?!). I place my stop at or below the blue line (on the bar) or slightly below if there is a dip. As I am trading the 15 min chart, things happen quite quickly and I need to watch quite carefully. The tight stop is very comforting. Of course it can get hit quite often if the market is not making the moves, but the early entry into the trend is good. I set an initial target of 300 pips, which gets hit about one in ten trades. Taking account of losses my average trade makes 50 pips or so. The advantage of the 15 min chart is that it produces smaller drawdowns, and I only have a small account and am trading at quite high % risk, albeit at absolute min £ per pip.

Exits are more problematic as yet. I don't like the Chaos AO or the Trend Reversal (pin bar if you like), so am mostly using a projected target, and moving my stop to suit the areas of support as they develop. I use a lot of discretion in exiting, but one thing I do is tighten my stop a lot if a trade is showing a good profit. Given that I have had a lot of psychological problems trading and lost a huge, I do mean huge! amount in the past, but with this system have so far been making 1000 pips a week, just trading GBPJPY, I feel much happier. But on days when I feel stressed (eg by the market ranging and delivering losses) I do make mistakes, and need a break.

So, no, I am effectively not using WM1 or 2 in the Chaos system, and am not yet pyramiding. I am trying to keep it simple, and even the fractals sometimes only complicate the issue, so I am inclined to just trade the Alligator as per 3 Ducks.

It is a separate subject, but I am building an EA based on breakouts with the help of a guy who is a pro at coding for MT4. If this works, even at a fraction of the profitability I am getting now it will be worth a lot if only in reduced stress.

I am also working up a strategy for another EA based solely on the Alligator.

BTW guys, have a look at this system (from Russia I think). Pallada Expert Advisor for MetaTrader 4
It gives you the entry signals so you can enter manually if you are happy, but then manages the position and exits it automatically. Works on MT4, but you could just use it to signal entry and exits if you are spreadbetting. They tell me they have in fact developed a full EA (ie robot) to do all the trading hands off for you, and I await more info from them.

Tomorrow is another trading day! You never know do you?

 

[The_Snowman]

they won't be here...........

Does anybody run the 3 duck system on meta trader using it as an automated expert adviser for live trading so you can sit back and let this strategy make profit for you?...

I doubt whether you will find that system here -

http://championship.mql4.com/2008/en

sure gives you a perspective on how much programming is going into MT just to beat the market!!

 

[wembleyboy]

Hi ,

I recently reinstalled windows on my PC and forgot to back up an indicator that I had downloaded a couple years ago from the t2w forums page. I have attached a screenshotand circled it in white. Does anyone have a copy of it that they could re-post on the forum or point me to where it is?

Thanks in advance

 

[NVP]

Trade EA's at your peril my good friends.....I have no doubt they work (ref the Quants) but not at our puny levels of investment in systems and programming

The 3 ducks is a superb system but even the inventor (Andy) Will probably admit you have to use discretion when to enter signals and not trade blind as an EA robot

happy to be proved wrong though as anything is possible in trading :smart:

N

Nice to see Ronald get a mention here hes a real hotshot......also look up Steve Hopgood, ES Trader and FerruxFX if you want to investgate the work of supreme EA programmers at Forex factory

 

[NVP]

I am trading the Alligator, but like to get confirmation of Trade entry with a fractal breakout. I like to get into the trade as soon as the Alligator MAs have started to move in one direction and are lined up green, red, blue in the "right" order (3 Ducks really aren't they?!). I place my stop at or below the blue line (on the bar) or slightly below if there is a dip. As I am trading the 15 min chart, things happen quite quickly and I need to watch quite carefully. The tight stop is very comforting. Of course it can get hit quite often if the market is not making the moves, but the early entry into the trend is good. I set an initial target of 300 pips, which gets hit about one in ten trades. Taking account of losses my average trade makes 50 pips or so. The advantage of the 15 min chart is that it produces smaller drawdowns, and I only have a small account and am trading at quite high % risk, albeit at absolute min £ per pip.

Exits are more problematic as yet. I don't like the Chaos AO or the Trend Reversal (pin bar if you like), so am mostly using a projected target, and moving my stop to suit the areas of support as they develop. I use a lot of discretion in exiting, but one thing I do is tighten my stop a lot if a trade is showing a good profit. Given that I have had a lot of psychological problems trading and lost a huge, I do mean huge! amount in the past, but with this system have so far been making 1000 pips a week, just trading GBPJPY, I feel much happier. But on days when I feel stressed (eg by the market ranging and delivering losses) I do make mistakes, and need a break.

So, no, I am effectively not using WM1 or 2 in the Chaos system, and am not yet pyramiding. I am trying to keep it simple, and even the fractals sometimes only complicate the issue, so I am inclined to just trade the Alligator as per 3 Ducks.

It is a separate subject, but I am building an EA based on breakouts with the help of a guy who is a pro at coding for MT4. If this works, even at a fraction of the profitability I am getting now it will be worth a lot if only in reduced stress.

I am also working up a strategy for another EA based solely on the Alligator.

BTW guys, have a look at this system (from Russia I think). Pallada Expert Advisor for MetaTrader 4
It gives you the entry signals so you can enter manually if you are happy, but then manages the position and exits it automatically. Works on MT4, but you could just use it to signal entry and exits if you are spreadbetting. They tell me they have in fact developed a full EA (ie robot) to do all the trading hands off for you, and I await more info from them.

Tomorrow is another trading day! You never know do you?

Be careful - you are trading the most volatile and dangerous combination in the G8 currencies

good trading
N