Best Thread The 3 Duck's Trading System

[hornblower]

I love the way you guys kill serious threads. But for every board there must be a plague - obviously

Its been discussed for 66 pages ,
I think the subject has been exhausted

I could get exhausted with post 652

 

[zenocorp]

hi..i have not got a chance to go through the all the pages..but i kind of like the 3 ducks system..so i will have a look with it..thanks for the thread starter coz he share such a nice yet simple trading system.

 

[59er]

Hi 3 ducks.

Have just looked st the 3 ducks, and as a new trader this seems very simple compared to what I've seen up to now. Will test it out on my demo for a while. until then the jurys out, thanks for the ideas. cheers.

 

[bootsyjam]

Looks nice and simple to me too

Have just looked st the 3 ducks, and as a new trader this seems very simple compared to what I've seen up to now. Will test it out on my demo for a while. until then the jurys out, thanks for the ideas. cheers.

I've been trading for a while now, and without much success-2 steps forward, 2 steps back etc. Seems to me that this system incorporates some very sound ideas, namely making sure that you stay on the correct side of a trend throughout all time frames. As the great Jesse Livermore said, it's all about finding the path of least resistance and then joining it.

Having said that, as captain Currency states, it shouldn't be used as a standalone system. I'm currently incorporating it with obvious areas of support and resistance and trendlines (in the 1 hour, 4 hour and 15 minute time frames). I'm using 15 minute time frames for trendlines etc only as it gives a slightly better historical picture of what is going on in the short term, and the trendlines that are drawn here are used in the 5 minute chart, but I'm NOT using it to take trades, or look at where the price is relative to the 60MA.
Will see how it goes-doing pretty well so far

 

[lucazur]

Hello, What is the percentage of rate of success of the 3 Ducks?

 

[BennSmythe]

I was wondering if an oscillator such as stochastic would be useful as a confirmation signal using the three ducks system. If so, what would be the best settings for the stochastic and the 60 SMA?

 

[mikeeg]

Hi,

Have been demo trading the 3 ducks, but mainly with losses. Today was a classic example of getting burnt. I went short on GBP/USD at 4.25pm.

Can anyone suggest a better entry system for this. I appreciate we have to make this system our own and that they'll always be losing trades.

Just would like other peoples input on how they're doing with refining the entry.

Cheers,
Mikey

 

[nghia1973]

Hi,

Have been demo trading the 3 ducks, but mainly with losses. Today was a classic example of getting burnt. I went short on GBP/USD at 4.25pm.

Can anyone suggest a better entry system for this. I appreciate we have to make this system our own and that they'll always be losing trades.

Just would like other peoples input on how they're doing with refining the entry.

Cheers,
Mikey

You have to understand that not all trades are winning trades...There are a lot of loses...Just stick with it and you will see some profitable one...

 

[DonR]

Hi,

Have been demo trading the 3 ducks, but mainly with losses. Today was a classic example of getting burnt. I went short on GBP/USD at 4.25pm.

Can anyone suggest a better entry system for this. I appreciate we have to make this system our own and that they'll always be losing trades.

Just would like other peoples input on how they're doing with refining the entry.

Cheers,
Mikey

May I suggest you also use a 1 minute chart, also with a 60 ma, and use that to time your entries when the 3 ducks are lined up. Use the ma cross as the signal. An rsi(14) can also help. When it is overbought and all the ducks are lined up, look for a short entry. Pity you didn't try this a few days ago. You'd be quids in by now!

This begs the question: is the GBP/USD downtrend finished?

 

[DonR]

Hi,

Have been demo trading the 3 ducks, but mainly with losses. Today was a classic example of getting burnt. I went short on GBP/USD at 4.25pm.

Can anyone suggest a better entry system for this. I appreciate we have to make this system our own and that they'll always be losing trades.

Just would like other peoples input on how they're doing with refining the entry.

Cheers,
Mikey

If you look at your chart you will see that the price was above the ma.
You weren't following the system rules. Why did you go short?

Upon further examination of your chart and post I stand corrected.
The price did cross below the ma. It was at 4 O'clock though. You left it a bit late.
It went nearly 20 pips below the ma. It crossed again at 5:35 when it dropped to around 1.7720.

 

[SandyW]

Cable Support

This begs the question: is the GBP/USD downtrend finished?

If you look at the monthly chart, you can see clearly that primary support is at around 1.7000

 

[DonR]

If you look at the monthly chart, you can see clearly that primary support is at around 1.7000

Yep. I've got 1.7108. Of course that doesn't mean it will stop there.

 

[mikeeg]

Thanks for your replies. Gives me something to work on. Like the idea of focusing on a 1min with a 60ma..that's 4 ducks or still 3?!

Yeah some demo trades have worked out well, and I guess looking for longer term S/R is always a wise thing to do before trading against it.

Thanks again, always good to exchange ideas.

Mikey

 

[bootsyjam]

Gbp/usd

Mikey,
It might be an idea to ditch the GBP/USD and practise on something else as it is the most volatile and hard to read pair. Eur/USD is more sedate in comparison (sedate may not be the right word!).
Also, do you mean 4.20pm GMT? I think the idea was to use it in the early trading session from 8-11am GMT due to volume/price movement etc.
Cheers,
bootsyjam

 

[mikeeg]

Mikey,
It might be an idea to ditch the GBP/USD and practise on something else as it is the most volatile and hard to read pair. Eur/USD is more sedate in comparison (sedate may not be the right word!).
Also, do you mean 4.20pm GMT? I think the idea was to use it in the early trading session from 8-11am GMT due to volume/price movement etc.
Cheers,
bootsyjam

Cheers Bootsy will give that pair a look also. And yes I did mean 4.20pm yesterday afternoon. Thought that afternoon slots would also be good as it captures both UK and US forex trading session though? (Think UK session finishes at 5pm?)

 

[bootsyjam]

Apologies

Mikey I was wrong, it states that it's best to trade in both the morning and afternoon sessions. I prefer the morning session, think I got my own rule mixed up with this one
Eur/USD is nicer because it aslo should have a 2 pip spread too.

 

[lucazur]

Hi,

One of the main rules of the 3 Ducks is to trade only between 7am and 4pm.
This is the time when it works the best!!!

Regards

 

[lucazur]

Hi,

One of the main rules of the 3 Ducks is to trade only between 7am and 4pm.
This is the time when it works the best!!!

 

[mikeeg]

Thanks for clearing up the trading times. 7am to 4pm looks good to me, cos it captures the most volume and hopefully volatility.

 

[DonR]

mikeeg,
here are a couple of trades that worked well today.
The first one I got 17 pips from, but did anticipate the cross slightly.
I was out for the second one, unfortunately.