Best Thread The 3 Duck's Trading System

Caps 3 Duck system thread here is a gem....

Newbies to Advanced Traders should read and learn from it......I certainly do

N
 
Hi Guys and good morning.... it is 6 pm here in Oz it is Friday and that means one thing....!!!
I am looking at the charts in a more informed manner thanks to the recent few days postings, so thanks to all.
I have found some interest in EUR/GB and US/JAP
I shall watch it for a few hours to see if the 3 ducks line up...
EUR/US has already lined up and I have been closed at the 5 min sma...-13
Please feel free to post your thoughts on the above pairings
Cheers, Steve
 
triplepack said:
Hi Steve, just looking at the 3 ducks method, looks good.

The aud/usd going long looks like a good signal as per the method.

My view on an entry point would be 1.0457, with the stop at 1.0437, 2:1 target of 1.0497.
Does this fit with the method as CC describes it ? I'd be interested to hear from someone as yourself who is currently using it.
Rich
Click to expand...

Hi Rich, I think your trade may be a dead duck by now...!!!
I hope you got some profit but never mind if you didn't mate,
I believe your trade was valid with stops and limits etc, but it has gone down now ,not up.
Does anyone have any thoughts on this oz trade...???
 
Hi all...I have pulled the trigger at 9:30 am uk time...EUR/US Buy at 1.3040 s/l 15 and a trailing stop of 10

I wonder what you think, comments are welcome, need to keep learning,

thanks, Steve
 
Last edited:
stephensteve said:
Hi all...I have pulled the trigger at 9:30 am uk time...EUR/US Buy at 1.3040 s/l 15 and a trailing stop of 10

I wonder what you think, comments are welcome, need to keep learning,

thanks, Steve
Click to expand...

I'm in the GB/Us so good luck.
I'm not keen on a trailing stop myself and 10 is quite low if you're looking for a longer running trade.
If you are looking for a shorter bag the points trade then maybe something like a set 20/40 approach is better?
 
Moved my stop on GB/US to 055 now which is a few points better than break even for me so free trade,lets see if it can go a bit
 
O.K. Donovan, thanks for your input.
I put a trailing stop as I needed to go to sleep and would hate for it to go up 30 and back down 30..!!

This kind of thing has happened before, I am trying to get my head around the set and forget approach though,

Would you get back into the trade if you bagged your target and the ducks stay lined up..????

cheers Steve
 
Last edited:
stephensteve said:
O.K. Donovan, thanks for your input.
I put a trailing stop as I needed to go to sleep and would hate for it to go up 30 and back down 30..!!

This kind of thing has happened before, I am trying to get my head around the set and forget approach though,

Would you get back into the trade if you bagged your target and the ducks stay lined up..????

cheers Steve
Click to expand...
Yeah I would personally if the trade looks good why not.I think NigelP uses very small initial stops so probably has a few attempts getting back in.
On the trailing loss I can understand your reasoning and I'm sure they work for many but 10 pips seems almost guarenteed to be hit when you get to the major times of the day,New York open ftse close etc.
I tend to move stop to Break even or better if I get 20 pips up after that I look for obvious points to move it to while still giving the trade room to move the MA on the hourly can often be a decent area.
On another board someone did some testing of various set and forget levels,I dont use them myself but you may find them interesting:
They are all based on SL/TP levels of 20/40 -50/100 -or 100/200
SL/TP
Eur/Gbp All 3
Eur/Jpy 50/100 100/200
Eur/Usd All 3
Gbp/Usd 50/100 100/200
Usd/Cad 20/40
Usd/Jpy 20/40
 
Unfortunately this was on my trial account but think it's fair to say this system works....
 

Attachments

  • 3 ducks.jpg
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To summarise the week for myself
EUR pairs totalled + 181
Aud/US +42
US/CHF -22
US/CAD +36
Would be interested to see other traders summaries of the past week,
Thanks to the Capt C and 3 ducks, Cheers, Steve
 
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