The 3 Duck's Trading System

Feb 15, 2004
555
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London
#76
by the way does the three ducks system create enough trades each day to trade it intraday and if so how many oppotunities on average each day???
And do you have it programmed so it alerts you when the oppotunities are there or do you manually monitor all currencies on your screens???


thanks again if you can answer.


jason
 

shadowninja

Well-known member
Jul 22, 2007
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#77
Hello shadowninja,,

Has it ever failed me? You mean, have I ever lost a trade? YES, of course! Does it have losing runs and trades? Yes of course. Does it make more net overall for me? Yes.
Have a read of the system, I think i said all this in it.
I will re-read!

One thing I noticed was that you should still trade in the direction of a trend. So, if the 60MA on 5M is falling while the other two are rising, when the 5M price goes above the 60MA line, it doesn't seem as strong a climb. (Reverse for ducks.)
 
Oct 2, 2007
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#78
Hello Marketbreaker,

Thanks for the e-mail. You certainely like to trade & post! One small bit of advice I would give you is, I said it on the system description that it works better in the European/US sessions, I noticed from your last trade on cable that the trade would have been taken the Asian session. Also, use the system as a guide in addition to your own market knowledge, lots of news out this week, will there be position jockeying? I think so :D

Kind Regards,
Hello Captain

Thanks for the advice I appreciate it. I should probably have avoided the Tokyo drift (transition to London) when trading these breakouts.

Regards
M
 

nine

Well-known member
Sep 5, 2003
2,038
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#79
Didn't get so lucky with this one.
Out at -24pips.
Marketbreaker's post above raises a question for me.

Although price was above the 240m 60sma (long) and above the 60m 60sma it was coming down towards the 60m 60sma and a prior low ... not leaving the 60m sma in an upwards direction. If that was a valid trade then any time price goes through the 5m 60sma while the other two smas are below price would be valid. Is it?
 

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Oct 2, 2007
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#80
Watching USD/CHF now ... waiting for the 4h to actually close above the MA before taking an entry. We may be able to get a bid at 1.1720, but let's see.
 

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Oct 2, 2007
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#81
Marketbreaker's post above raises a question for me.

Although price was above the 240m 60sma (long) and above the 60m 60sma it was coming down towards the 60m 60sma and a prior low ... not leaving the 60m sma in an upwards direction. If that was a valid trade then any time price goes through the 5m 60sma while the other two smas are below price would be valid. Is it?
Hello nine

I think in Captain's strategy, he did not mention having the SMAs be in the up (for long) or down (for short) direction, or angle. However, he did mention that for long positions to be taken, price has to be above the 60EMAs on 4H, 1H and 5M time frames. Crosses on the 5M time frame, if met at first with the price being above the 60EMAs on the 4H and 1H time frame, can (not must) be taken.

Cheers
M
 

shadowninja

Well-known member
Jul 22, 2007
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#82
+38 pts on GBP/Euro.

I think it's safer to buy in the direction of the trend. I was watching ones where the price broke through counter to the trend and the push-through wasn't very good or immediately doubled back. This is why I scanned all the major pairs and opted for GBP/Euro at 10.15am GMT. Note that this is based on my own limited experience as an amateur trader, not the opinions of Captain Currency.

I have set a challenge for myself with the 3 Ducks system (well, my Audi system cos I'm stupid and lazy): to turn £20k into £40k.

28/09/07: GBP/USD - £3800 (£100/pt)
01/10/2007: Euro/Yen - £3800 (£100/pt)
02/10/2007: GBP/Euro - £1900 (£50/pt: wasn't feeling so sure about the movement)
Cash Balance: £29500

(Tradindex test account, unfortunately; I don't have the balls to risk £20k like that.)
 

Captain Currency

Well-known member
Sep 6, 2007
827
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captaincurrency.blogspot.com
#84
Marketbreaker's post above raises a question for me.

Although price was above the 240m 60sma (long) and above the 60m 60sma it was coming down towards the 60m 60sma and a prior low ... not leaving the 60m sma in an upwards direction. If that was a valid trade then any time price goes through the 5m 60sma while the other two smas are below price would be valid. Is it?


Hello Nine,

Do you mean above in the last sentence of your post? Dont really follow it sorry :cry:

I think the first valid "signal" on cable today is this set-up, all 3 time-frame sma's are above (buy signals) The 1hr sma has been tested and at one pint prices where below that sma, but now prices have crossed back above the 1 hrs sma and have now crossed above the sma on the 5min chart and broke the high on the 5min chart foe extra confirmation.


I think marketbreakers origional trade may have been taken in the Asian session which is not a great time to trade.

As I've said a few million times before, I use the system as a guide in addition to my own market knowledge. With a lot of news out this week and some pairs overbought, I may be a bit cautious! know what I mean? :LOL:
 

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Oct 2, 2007
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#85
Hello Nine,
Do you mean above in the last sentence of your post? Dont really follow it sorry :cry:
Captain, I think Nine meant "below". SMAs below price, means price above SMA :)
I'm not sure if I should avoid trading during Asian hours, as there may still be some good trades to be taken. What I should have done was avoid the transition hours.

Here's the original trade with the original actions taken ... would've been a profitable trade if I took it in the full London hours.
 

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Captain Currency

Well-known member
Sep 6, 2007
827
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captaincurrency.blogspot.com
#86
+38 pts on GBP/Euro.

I think it's safer to buy in the direction of the trend. I was watching ones where the price broke through counter to the trend and the push-through wasn't very good or immediately doubled back. This is why I scanned all the major pairs and opted for GBP/Euro at 10.15am GMT. Note that this is based on my own limited experience as an amateur trader, not the opinions of Captain Currency.

I have set a challenge for myself with the 3 Ducks system (well, my Audi system cos I'm stupid and lazy): to turn £20k into £40k.

28/09/07: GBP/USD - £3800 (£100/pt)
01/10/2007: Euro/Yen - £3800 (£100/pt)
02/10/2007: GBP/Euro - £1900 (£50/pt: wasn't feeling so sure about the movement)
Cash Balance: £29500

(Tradindex test account, unfortunately; I don't have the balls to risk £20k like that.)

LOL, hello shadowninja,

Well done on the pip gain, but I think you should change your name to MADMAD FX!
 
Oct 2, 2007
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#87
Captain Currency did mention that this strategy works best for EUR/USD and GBP/USD. I pulled out the bloomberg and did some simple correlation in excel on historical 4H, 1H and 5M data on the G7s.

It seems that this strategy may also work well with USD/CHF and USD/CAD (highest negative correlation with EUR/USD). Amazingly, nothing seems to be very correlated with GBP/USD. Of course, it depends on your view on how correlated the pairs must be in order to actually trade the same strategy with them.

M
 

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Oct 2, 2007
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#89
Entered with stop at 1.1718. Take profit is left open.
I don't know but we may be seeing some offers at 1.1800 levels so I'm putting in a 15pip trailing stop on my position and look to re-enter if I'm stopped out (probably around the 1.1745-50 levels).

At least I got some pips in the bucket now.
 
Jan 14, 2003
8,424
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UK
#90
And do you have it programmed so it alerts you when the oppotunities are there or do you manually monitor all currencies on your screens???
Jason,

In my view programming this into RS is the best way to do it as you would get alerted as and when you got a signal in any number of currencies. It is also possible to do this in chart format in TS but the alert would be different.


Paul