Best Thread The 3 Duck's Trading System

[NVP]

hey all

heres caps 4hr duck on a 60ma setting ..........the position of the currencies denotes what to buy and what to sell (when combined with similar positions on the 2 lower TF ducks)

red GBP is kingpin and has been for a while ........looks like the Blue Euro is coming through to challenge ......so hunting any potential Euro pair buys s/be on your 3 duck lists (if not already triggered on lower TF's)......looking at the rising Yen (yellow) i'm not convinced yet that E/J will be the big trade - in next 24 anyway

the dog currency is now the gold AUD after the bad news early hours .....its the currency to sell at present and could get even worse later

just my views - respect to hewey, dewey and lewey as always

cheers
N

 

[qwertyuiop1]

Can someone answer me this please.

Assuming a long position, the eventual purchase price must be above the 5 min and 1 hour sma. (And obviously the first duck us lined up as a pre- requisite.)

My question is - the first duck doesn't insist on the price being above the sma. It is only used to determine the direction of the trend.
But must the eventual purchase price be above the sma on the 4 hour chart also? Is that golden rule?

 

[qwertyuiop1]

Ok. This is my first time using this method. If anyone is feeling bored would they mind checking if my potential orders make sense please ? Or am I in the wrong track completely ?
(I'm assuming the trade criteria of 50% less than Asian opening will be met for now - if not I will then not execute order)

I am using a stop loss of 50.open for all of the below - purely because it's a new week so it's a tester to see how they perform before using that info if required later in the week.

EUR/GBP - Sell at 8228
AUD/GBP - Sell at 9263
USD/CAD - Buy at 1053

 

[qwertyuiop1]

Correction to the above - the second one should have read AUD/USD. It was a typo.
Anyway - in in that trade now. I reassessed the charts this morning and got in at .9265. Stop Loss set at 50 points away.

 

[peeterwoolf]

1st time hear 3 Duck's trading system, I can't wait to find out what it is!

 

[csc2009]

Thanks for sharing, interesting!

 

[Adecco]

ok - i've put 2 orders in. with teh 50 SL.

GBP/USD - 16855
USD/JPY - 10276

 

[peeterwoolf]

There is a 3 duck's system post online involves using 3 different timeframe, 4 hours, 1 hour and a 5 min, thats why called 3 ducks. Has anyone heard of it?

 

[Adecco]

There is a 3 duck's system post online involves using 3 different timeframe, 4 hours, 1 hour and a 5 min, thats why called 3 ducks. Has anyone heard of it?

ya - that's the system this thread is about !

 

[Captain Currency]

1st time hear 3 Duck's trading system, I can't wait to find out what it is!

Just read the 3 Ducks eBook to start off with and you won't go too far wrong.

Thanks for sharing, interesting!

You're very welcome.

Don't forget this Friday coming the 2nd of May the Non Farm Payroll numbers for April will be released, I won't be trading any pair on that day, too risky for my liking Duck Hunters ...

Chat soon,

Andy
Captain Currency

 

[NVP]

and read this thread from start to finish ............you will all learn something I promise

 

[peeterwoolf]

Great, I'm testing out on my demo now.

 

[csc2009]

I received my e-book of 3 duck's system yesterday, it's great. Should I test on my demo 1st?

 

[Adecco]

How are people getting on with this system this week?
Just checking if peoples figures tally with mine as its my first week.

I opened 6 orders in total this week - and there wont be any more orders opened this week as i found nothing this morning and tomorrow is non-farm payroll day.

Of the 6 orders 3 were executed. 1 win (at +1 pip) - and 2 losses (19 pip loss and a 20 pip loss).

So my first week total is -38 pips.

Does this figure tally with other peoples?

 

[Gela]

No clear trends

As a beginner I am only comfortable trading anything on a clear trend. And that is the problem. Not much clearly trending right now, at least not on my charts (LOL). The 3 Ducks are a trend following approach so it will be difficult to implement on sideways ranges.

The GBP has been strong lately though, and there seems some uptrend on GBP/USD. But I am also in minus pips on my trade there.

I read somewhere that with the central banks now influencing money management of nations versus free market forces, currencies will stay in more range like behaviors in the near future. That makes it difficult for us traders I think, at least us newbies...

Hang in there. It's just trading

How are people getting on with this system this week?
Just checking if peoples figures tally with mine as its my first week.

I opened 6 orders in total this week - and there wont be any more orders opened this week as i found nothing this morning and tomorrow is non-farm payroll day.

Of the 6 orders 3 were executed. 1 win (at +1 pip) - and 2 losses (19 pip loss and a 20 pip loss).

So my first week total is -38 pips.

Does this figure tally with other peoples?

 

[csc2009]

My 1st time trying this system, I tried with GBP/USD, can't see clear trend on my charts, am I doing something wrong?

 

[Adecco]

My 1st time trying this system, I tried with GBP/USD, can't see clear trend on my charts, am I doing something wrong?

I see a bit of an uptrend there - but not a lot.

As a subjective judgement call, I deemed this not to be trending enough to consider a possible order.

 

[Sigma-D]

As a beginner I am only comfortable trading anything on a clear trend. And that is the problem. Not much clearly trending right now, at least not on my charts (LOL). The 3 Ducks are a trend following approach so it will be difficult to implement on sideways ranges.

The GBP has been strong lately though, and there seems some uptrend on GBP/USD. But I am also in minus pips on my trade there.

I read somewhere that with the central banks now influencing money management of nations versus free market forces, currencies will stay in more range like behaviors in the near future. That makes it difficult for us traders I think, at least us newbies...

Hang in there. It's just trading

That's a real knockout post Gela.

Might explain why I've been having such a bad time of it after making a reasonable return while demoing my trading system up to 3 months ago. I'm trying to trade a trend when there is no tend direction to trade.

Good point about the government interventions impacting normal market forces. I imagine that's throwing quite a few things out of whack if you suddenly get a shedload of new money flowing into bond purchases, presumably the front end rather than the longer dated bills putting a skew on the calendar spread too. So what are the people selling those bonds going to do with their cash? If it were me, I'd pile right back in with the same or something similar. Must be really distorting a number of X-market relationships.

I'll take a look at the 3 ducks. Seems like it could be a solution.

 

[Gela]

How to trade then?

Adecco, this is just my observation, and after reading about "the markets" from experts much smarter than me. But it does make sense to me, especially if you throw some bigger forces like highly specialized banks, speculators and high frequency trading in the mix. But that is a whole different subject.

Now, what are we supposed to do? I guess we could learn other approaches like range trading strategies etc. But I am personally not there yet. And if you really think about it you can use the 3D system for a scalping type set up as well. You just keep your trades much shorter.

Would be interesting to know what the more experienced traders think and how they have been trading lately?

That's a real knockout post Gela.

Might explain why I've been having such a bad time of it after making a reasonable return while demoing my trading system up to 3 months ago. I'm trying to trade a trend when there is no tend direction to trade.

Good point about the government interventions impacting normal market forces. I imagine that's throwing quite a few things out of whack if you suddenly get a shedload of new money flowing into bond purchases, presumably the front end rather than the longer dated bills putting a skew on the calendar spread too. So what are the people selling those bonds going to do with their cash? If it were me, I'd pile right back in with the same or something similar. Must be really distorting a number of X-market relationships.

I'll take a look at the 3 ducks. Seems like it could be a solution.

 

[Gela]

Zoom out

I know the 3D strategy demands the 4 hour chart for trend confirmation. But the Captain also says that it is a discretionary approach, which to me means to look around your charts some more, plus news, candles etc. If you look at the GBP/USD on the daily chart and go back you can see a good uptrend since the middle of last year. It is not very steep but consistently up. And your 60 SMA on the 4 hr chart shows a good slant up as well. At the moment I am typing this all 3 ducks are aligned including on the 5 min chart. We are also on the upper side of this uptrend and that currency pair has not been so high in years.
Will it keep going up? Will it reverse to a downtrend? Will it retrace a little and then keep going up? I'd say it will come down a little, esp. if the NFP data is positive for the USD tomorrow and then go up again. Now that I am saying that I am asking myself why did a I enter this trade "long" a while ago?
You see it is very complex to analyze all of those factors and you have to play them out in your head... Again all this is just my personal opinion.

My 1st time trying this system, I tried with GBP/USD, can't see clear trend on my charts, am I doing something wrong?