Best Thread The 3 Duck's Trading System

[pgpb]

But IMHO, I personally would be wary of taking a long trade here, because of the fact the pair has been in a Down trend looking at the 4hr 60 SMA...this for me is where the discretionary part comes into play, maybe as you point out, a close of the 4hr bar above the 60 SMA, could be a deciding factor and confirmation for a long entry.

I have decided that any trades I will take using this system, will be in line with the major TF...therefore the 4hr trend..that would be rule no 1 for me.


Good luck.

Agreed 100% with what you say....3 ducks is trading WITH the trend.....and this pair has been in a pretty strong downtrend.
I would not be buying that pair until the 4 hour SMA is clearly in an uptrend

I would also like to suggest to the original poster that if you really want to learn the 3 ducks that you focus ONLY on the 3 ducks method (and remove the Stochastics and Trix indicators from your charts)

3 ducks is a VERY simple method.
Indicators tell you what price has been doing, but the emphasis is on the word "has".
To learn to trade one needs to learn what price is GOING to do.
(or at least has a higher probability of going to do)
I am not going to go into detail, as I have taken the one on one training with Andy and I will not (out of respect for Andy) reveal what was taught in that session.
(it is not brain surgery, it is pretty simple stuff, but it works)

I will say that before the training I had about 12 different templates with different indicators on each, I was glued the the screen for hours a day......I was trading with the trend, counter trend, break outs, bounces off support and resistance, gut feeling and all sorts of other methods. Now I trade ONLY the 3 ducks.....I trade ONLY with the trend, and I place my trades once a day. It is early days for me, but I have had 6 winning trades and one losing trade (and the losing trade was in profit by 35 pips but I let it go against me)

There are likely tons and tons of systems that will work if you stick to it.
3 ducks is one of them. I like it because it is simple.

Best wishes

Keith

 

[jimbo22]

Hey Keith,

6 winners / 1 loser, that's encouraging news for the rest of us...well done mate.

I too have overtraded way too much in the past and have also had a painful habit of trying to pinpoint a reversal in a trend...top and bottom picking does not marry with remaining solvent.

This simple system is pretty powerful, in that it keeps you in line with the flow...What it requires from us, is having the patience and discipline to await the pullbacks and find good entries...easier said than done...but i'm getting there

 

[novice198]

Just one little amendment.

Me thinks the 4H needs to cross over first followed by the 1H, then lastly the 5M, so I'd be wary taking this trade, since the 1H as you said has been above for 12 hrs.

Indeed, as mentioned by Jimbo above, both SMAs are kinda falling indicating a Down trend.

You need to apply some TA to these signals when trading the.

The Pips be with you
The Stockman

Thanks for your analysis, which is clear. I should be looking at the longer TF for the trend.
TA equals Technical Analysis

 

[maq]

why has it gone so quiet here

seems this was not a good week for the 3 duck

but the week before was good

 

[forexkunta]

WOW, it seems as if you missed out on a hell of a lot of pips if you didn't take this trade. Being Elliott Wave minded, I would have taken this trade for 2 reasons as outlined below:

#1 The trade trigger was to take the trade defined by the 3 Ducks Rules of Engagement!!! If you are going to be profitable in forex, then you pull the trigger when the system says to pull the trigger. If you are going to second guess every entry, then you lose in the long run.

#2 In a EW mindset, the trade would have been valid, because on the 4H chart, the pair had just completed a 5 wave move down and was due for a correction, which it did with a 400+ pip move.

Over the last 12 months in the forex market, I have also tried to take a system and make it better or second guess the entry and exit. In doing so, I have lost a lot of money. Who am I to be knowledgeable enough in 12 months to take a tried and true system, and make it work better? I have been able to answer this question for myself, and am more on my way to being profitable than at any time in the past.

All I can say to Andy is CUDOS for such a great system that is tops in its simplicity.
Regards,
Kent

Hi Traders,

I have come across the following situation and would request your guidance:-
GBP / CHF chart,
4 H TF the PA has cut above the 60 SMA. personally I would like to wait for this candle to close above 60 SMA.
1H TF and 5 M TF the PA is already above the respective 60 SMA. Therefore, when the 4H candle closes above the 60 SMA I will have all the Ducks in one line and as a result I should be entering long on the 5M TF based on the PA moving higher than the last high on the 5M TF which occurred about 4 to 5 bars earlier.
Is my understanding correct as stated above.

 

[lbranjord]

Hey all,

Have followed this thread forever and used the strat from time to time. One question, and I'm sure this is answered somewhere in the 169 pages of posts but here goes:

Do all the ducks have to line up in sequence? 4hr, then 1hr, then 5min? Or is it that the 5min has to go last?

It may be a dumb question but I've always wondered what the original intent was. Thanks all! Duck power

 

[pgpb]

Hey all,

Have followed this thread forever and used the strat from time to time. One question, and I'm sure this is answered somewhere in the 169 pages of posts but here goes:

Do all the ducks have to line up in sequence? 4hr, then 1hr, then 5min? Or is it that the 5min has to go last?

It may be a dumb question but I've always wondered what the original intent was. Thanks all! Duck power

The system is VERY simple
If the 3 ducks line up......(and your traders discretion says yes)....take the trade
It does not matter in what order they line up.....but I would always look from top down.....in other words I would not go searching for trades starting on the 5 minute time frame

PGPB (I took the one on one course with Andy....HIGHLY recommended if you want to be serious about this system)

 

[lbranjord]

The system is VERY simple
If the 3 ducks line up......(and your traders discretion says yes)....take the trade
It does not matter in what order they line up.....but I would always look from top down.....in other words I would not go searching for trades starting on the 5 minute time frame

PGPB (I took the one on one course with Andy....HIGHLY recommended if you want to be serious about this system)

My method of trading is different, but if I find that I need further approval, I slap the ema on my charts and see how the ducks are looking. It's like a baby going back to its bottle lol. Since this is where i started

 

[The Stockman]

If you download Captain Currency's FREE pdf for this system, he explains in detail how the system works.

I belive it is sequencial as you suggest, 4H first, followed by 1H and the 5M is the last to go over the line.

The Stockman
May the Pipping Duck be with you

 

[lbranjord]

If you download Captain Currency's FREE pdf for this system, he explains in detail how the system works.

I belive it is sequencial as you suggest, 4H first, followed by 1H and the 5M is the last to go over the line.

The Stockman
May the Pipping Duck be with you

Ok, yeah I have the pdf, or *had* I should say. I believe that if only the 5 minute crosses the 60sma and comes back, that is more of a mini-retracement, whereas if the 1 hour crosses, and then the five minute crosses sequentially like you say, you have a better signal. I've never confirmed this with anyone else but it seemed to work better for me that way when I used it.

It might be the same as saying you'll take a pin on the first Fibonacci retracement, rather than waiting for the 38% or greater. Anyway, I'll be looking for sequentials, I'll shut up and stop confusing everyone.

 

[SvenFoster]

Its not for me but I find a modified "1 duck" works better for me. The other 2 ducks are noise and so I focus on the Prime Duck.
I like to call it the Mother Duck, this allows me to use a little more Price Action than just Mother ducking all over the place.

I've been Mother Ducking on and off for a while, sometimes I drop the duck and I'm Duckless.


but seriously...Its a very simple method and anyone starting out could do worse than to follow it. You'll soon realise that its not the system that makes it..its you.

 

[fayalac]

Tipically they will line up in order, 4hr, 1 hr and 5 min, unless we are under extreme market conditions

Hey all,

Have followed this thread forever and used the strat from time to time. One question, and I'm sure this is answered somewhere in the 169 pages of posts but here goes:

Do all the ducks have to line up in sequence? 4hr, then 1hr, then 5min? Or is it that the 5min has to go last?

It may be a dumb question but I've always wondered what the original intent was. Thanks all! Duck power

 

[fayalac]

You´re rigth, but basically someone who doesnt know about price action or chart analysis will find very suitable to follow the three ducks.

Its not for me but I find a modified "1 duck" works better for me. The other 2 ducks are noise and so I focus on the Prime Duck.
I like to call it the Mother Duck, this allows me to use a little more Price Action than just Mother ducking all over the place.

I've been Mother Ducking on and off for a while, sometimes I drop the duck and I'm Duckless.


but seriously...Its a very simple method and anyone starting out could do worse than to follow it. You'll soon realise that its not the system that makes it..its you.

 

[SvenFoster]

You´re rigth, but basically someone who doesnt know about price action or chart analysis will find very suitable to follow the three ducks.

definitely.

 

[Captain Currency]

Greetings Duck Hunters,

Some really nice trading oppertunities out there using the 3 ducks method.

Usd.Chf a 300 pip reward for a 50 pip risk

 

[donovan5]

Greetings Duck Hunters,

Some really nice trading oppertunities out there using the 3 ducks method.

Usd.Chf a 300 pip reward for a 50 pip risk

Yeah even though I didn't get that particular one,it's been a great week for the ducks so far.

 

[RoryP]

Cleaned up on Cable today with the 3 ducks, 100pips for 30pip risk. Good stuff!

 

[purepest]

Hi guys

I have filled in the form for the 3 ducks strat but haven't heard from the Captain. Is this still being handed out, or, can anyone please send it to me?

Cheers
Colin

P.S. I'll still buy him a pint of Guiness!

 

[Howlinwolf]

Hi guys

I have filled in the form for the 3 ducks strat but haven't heard from the Captain. Is this still being handed out, or, can anyone please send it to me?

Cheers
Colin

P.S. I'll still buy him a pint of Guiness!

I got my copy just recently after waiting for a few days-it's worth the wait and I'm sure your copy will arrive soon.
David

 

[gedward3]

Hi guys

I have filled in the form for the 3 ducks strat but haven't heard from the Captain. Is this still being handed out, or, can anyone please send it to me?

Cheers
Colin

P.S. I'll still buy him a pint of Guiness!

He's probablty finishing his Guiness and practising on his Tiddleypipes.