Best Thread The 3 Duck's Trading System

[rathcoole_exile]

btw, wtf is shergar ?

 

[reler]

LOL - I've also just been looking back at the Cable chart (GBPUSD) and I reckon that I would probably have been tempted in at about 16:15 BST to buy at about 1.5115 or above for a swift 20 odd points. I probably would have been out after the first doji at 16:30, especially as that is after the end of the London session.

Again, my question is about the entry: am I on the right lines ?

Cheers

Reler

 

[rathcoole_exile]

reler,
if i could ever offer you one serious word of advice in between Tiger beers, f::ck forex,
it's a complete ballax, newbie graveyard.
Stick to what the pros look at, ES, or at worst YM ......

don't take my word for it. check out all the threads. which ones offer the most get-rich-quick-sucker BS ........ the Banker's pay cheque, retail foreskin ....

 

[reler]

Ummm ... showing myself up as a newb I know, but what are "ES" & "YM ?

 

[Captain Currency]

looks like Andy is busy robbing Post Offices, or whatever they do down there for fun, he's not been here for a while ....

In Las Palmas at the moment sipping a coffee not my fav brand, Maxwell House is ...
Your welcome to join me!

Decent trends on the 4hr charts which is what you want for trading the ducks.

I fancied going long the Eur.Usd about 2 weeks ago when she closed over the 4hr sma. I knew I was going to be in Las Palmas for a while baking in the 30 degree heat so I took a bit of a swing on it at 1.3130, stop-loss at 1.2930 and a target up at 1.3375 just before the resistance. It worked out, +245 pips for a 200 pip risk, nothing special but it will keep the fox from the door

Not really a decent opps on the 5min chart today on eur.usd - noting paying off too well.

Still I'le be following the trendie pairs and looking for some decent enteries in the days ahead.


Let your profits roll when the 4 hr sma is pointing and not flat!

Andy

 

[rathcoole_exile]

In Las Palmas at the moment sipping a coffee not my fav brand, Maxwell House is ...
Your welcome to join me!

Andy, if it's cooler than it is here, I might take you up !

Garry

 

[reler]

reler,
if i could ever offer you one serious word of advice in between Tiger beers, f::ck forex,
it's a complete ballax, newbie graveyard.
Stick to what the pros look at, ES, or at worst YM ......

don't take my word for it. check out all the threads. which ones offer the most get-rich-quick-sucker BS ........ the Banker's pay cheque, retail foreskin ....

Rathcoole_exile, like I said, I am kind of lost with some of your terminology: "ES" and "YM". What are these please ?

Cheers,

Reler

 

[Mozy]

Rathcoole_exile, like I said, I am kind of lost with some of your terminology: "ES" and "YM". What are these please ?

Cheers,

Reler

The ES is the future of the S&P500 and the YM is the Dow Jones future.

cheers

 

[reler]

Cool, thanks Mozy

 

[SvenFoster]

MTF Moving averages.

You may find this useful. The indicator is a multitimefram moving average so you can put the 1hr ma on the 5min chart.

The attachment shows how i setup the 12ema flavor of 3d's

Chart 5min, all MAs have a 1 period shift so that the indicator does not repaint. Ie, your looking at the last bars ma value.(I find this is usually better and on the 15 and 1hr it will hardly make any diff)
yellow: 12ema
blue: MTF MA: 12ema, timeframe 15 (15mins 12ema)
red: MTF MA: 12ema, timeframe 60 (1hr/60min 12ema)

Obviously the original duck will work with 60sma setting.s

maybe of use. I find colored bars saying above or below dont give the same picture. With the MAs on the same screen you can see convergance and divergance forming.
KISS

Sven

 

[blancspa]

Hi guys

When would you enter in this case? All 3 Ducks are lined up, but where is the previous lowest low? Where would you enter?

 

[andys0506]

Gonna give this a try for the next month on EUR/USD. Will report back on how I go.

 

[Captain Currency]

Gonna give this a try for the next month on EUR/USD. Will report back on how I go.

The 3 Ducks cleaned up on the trendie pairs today
Use the system as a guide in addition to what else is happening Andy, its not a black box thingy. Dont forget its a trend following "system".

Blancspa, Any of those lows look ok for a short entry, but if your looking for a very specific answer I would need to know all the facts - 4hr & 1hr chart, time, what else was happening in the markets etc.


Andy

 

[reler]

If I may, going back to my message of several days ago, blancspa seems to me to be asking the same kind of question, i.e. "Where is the lowest low ?" (My emphasis.) Earlier, I said ...

... I am finding difficulty getting my head around what is perhaps the most important part of the strategy, the entry.

Andy's books says: "The 5 min chart, our third duck is used for entries. What we are really looking for on the 5 min chart is for prices to get above the sma and move higher than the last high on the 5 min chart."

After showing an example, he goes on to say ... We would now be looking to buy when prices move above the last high (two candles to the left with lower wicks and two candles to the right with lower wicks) on the 5 min chart.

It's this “last high” thing that I am having trouble with. When Andy says that the last high occurs when you have “two candles to the left with lower wicks and two candles to the right with lower wicks”, must these be adjacent candles (as in the example shown in the book ) ? Because it doesn't actually happen “nicely” like that all the time !

I appreciate that you should use the 3 ducks in the context of your own philosophy, being aware where the markets are, what your own personal style is, etc, etc, etc. But even so, I have been pondering how I could find a reliable way to know that I am using the correct “high” (or “low”), I came across the idea of fractals in a thread on a forum “elsewhere”. (Ahem !)

Somebody has come up with the idea of using the “fractals” indicator available on MetaTrader. Apparently this signals “swing highs & lows”. A little googling has enabled me to get a handle on this and it seems that the definition is almost exactly the same as the one that I quoted from Andy's ebook. (Coincidence ?)

Anyway, is this a suitable tool for determining “highs & lows” for entry ?

> major snip <​

So, to sum up:-
1.What's the best way of establishing the “high” or “low” to use for entry ?
2.Are Fractals a suitable way of getting a rough idea for #1 ?

Cheers,

Reler

 

[Captain Currency]

"Where is the lowest low ?"

Cheers,

Reler

Hello,

Where did this "Lowest Low" stuff come from? I never said anything about lower lows or higher highs

Read page 10 of The 3 Duck's Trading System ebook to see the example of what your entry could be like using the last high.

Just to be crystal about what a High is for me: Its two candles to the left with lower wicks and two candles to the right with lower wicks (opposite for a Low).


Andy

 

[Captain Currency]

It's this “last high” thing that I am having trouble with. When Andy says that the last high occurs when you have “two candles to the left with lower wicks and two candles to the right with lower wicks”, must these be adjacent candles (as in the example shown in the book ) ? Because it doesn't actually happen “nicely” like that all the time !

Reler

Hello Reler,

If your still unsure how to tell a high or a low after my explanation, google Steve Nison, he can explain it better than me

There are plenty of nice highs and lows in the market just like the example I showed in The 3 Duck's Trading System ebook


Andy

 

[TheBramble]

Mon Capitaine, if you continue to insist on keeping it simple you are going to create a simplicity vaccum into which unnecessary complexities will rush. You need more lines and arrows and invent some new buzzwords.

What's the matter with you man?

 

[Captain Currency]

Mon Capitaine, if you continue to insist on keeping it simple you are going to create a simplicity vaccum into which unnecessary complexities will rush. You need more lines and arrows and invent some new buzzwords.

What's the matetr with you man.

LOL TheBramble,

What did Edward De Bono say about simplicity, was it something like "Simplicity before understanding is worthless"

But he also said "People quite like simplicity if it does not cost anything but are usually unwilling to invest resources in making something simple"

On that note, if you haven't read The 3 Duck's Trading System ebook its avaible for free on The Captain Currency blog. The ebook will take you about 1 hour to read and will teach you the "system" in its most direct form.


Ok Im off for a strong coffee now,


Andy

 

[andys0506]

Hi CC, I see this originated back a few years ago. Are you still trading this system on a daily basis? If so I assume you are doing it from a private beach in the Caribbean

 

[reler]

Hi Andy, thanks for your response.

Where did this "Lowest Low" stuff come from? I never said anything about lower lows or higher highs

I'm sorry - I mis-spoke myself (as somebody once said !).

I think what I am getting at is best illustrated in the screen shots that both I and blancspa posted.

However, I will do as you suggest and re-read the book and check out Steve Nison and see how how it goes from there. :smart:

Cheers,

Reler