The 3 Duck's Trading System

Captain Currency

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#16
Does this method work in reverse, ie when price is above the 60SMA in all time frames can you go Long ?


Paul

Hello Paul,

Yes it does. Here is a piece take from the summary on the blog.

Summary: The above example was carried out when the gbp/usd was trading lower so obviously we where selling - the system works just as well for buying opportunities, just look for prices to be above the 60 sma on all 3 time-frames, starting with step 1 again.


Kind Regards,
 
Jan 14, 2003
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#17
I have set this up so that all three MA appear on one chart by using a facility in TS that allows different compression of data source and plotting the MA based on each one and it certainly is good for 30 pips on most signals on GBP / USD including this morning.


Paul
 

Captain Currency

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#18
I have set this up so that all three MA appear on one chart by using a facility in TS that allows different compression of data source and plotting the MA based on each one and it certainly is good for 30 pips on most signals on GBP / USD including this morning.


Paul
Hello again Paul,

Yes, if you plot a 60 period sma, a 720 sma and a 2880 sma on the 5 min chart that is basically the same as having 1 60sma on the 5min/1hr and 4 hr chart. I prefer to have 3 chart - thats just me!
BTW: a trade set-up on GBP/USD this morning? I dont think so, prices where below the 4hr sma for most of the morning and prices where above the 1hr sma, so my ducks are not lining up!

Kind Regards,
 

Captain Currency

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#20
21st of September '07

Typical Friday afternoon type of trading - not much happening!
The 3 Duck's Trading System got a few chances to trade in the last few hours. The EUR/USD got a buy, the USD/CAD got a sell, the USD/AUD got a buy. I bought USD/AUD at .8648 with a stop-loss at .8624ish, the target was open but I'd say I would have looked to take profit around .8695. But the move up is sluggish and the trade has been stopped out at breakeven - it was up +22 pips at one stage.

Have a good weekend,

PS: Its not possible for me to post trades as they happen, but I will try and post some of the trades I do using The 3 Duck's Trading System. (the good ones and the bad ones!!)
 

Attachments

Jan 14, 2003
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#21
CC,

You may find it easier to upload jpg or gif files as opposed to bmp as they will be displayed and open a bit easier in my experience.


Paul
 
Jan 14, 2003
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#24
I have just realised that I had the set up for this completely wrong (from an indicator settings standpoint) which meant I got a signal that I shouldn't have (even though it was profitable) last week. I was wondering why things didn't seem right when I changed the compression on my charts and now I know. It is all corrected now and I am looking forward to seeing how things progress.


Paul
 
Jul 10, 2003
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#25
I have just realised that I had the set up for this completely wrong (from an indicator settings standpoint) which meant I got a signal that I shouldn't have (even though it was profitable) last week.
Have you returned the profits to the broker Paul? He will make every effort to trace the individual you took the money from by accident.
 
Dec 30, 2002
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#26
This system is a simple example of how multi-timeframe confirmation can be used to
ensure you are looking to trade in the right (trend) direction.
It is in many ways open ended - RE: entry point, SL & take profit.

It would be good to know which entry & exit methods work consistently the best, andfor what reasons.
 

Captain Currency

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#27
On a long position do you buy on the break of the last high, or would you wait for a pullback following the breakout?

Thanks,
Harold
Hello Hcour,

Good question! Some pairs will give you an oppertunity to buy on a pullback after it broke the high - Eur/Usd is a typicall pair that will "allow" this. Other pairs like Gbp/Usd tend not to give great pullback oppertunities. I personall try NOT to enter at the highest price, I always look to try and get it a bit cheeper!!

Kind Regards,
 
Jan 14, 2003
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#29
Tony / CC,

I will immediately enter a counter trend trade to ensure that I give back any profit that I didn't duly earn. I agree that it is just not acceptable to be making profit by accident and I will amend my ways with due effect :)


Paul