Best Thread The 3 Duck's Trading System

[p-lab]

Hi Andy,
I'm certainly not qualified to give you advice but a tight R:R with a 7 pip SL on any pair is going to be an express ticket to blow-out ville. I try to follow CC's guides and give some breathing space on the stops but get out beforehand as soon as its going bad. I totally agree with Adamus post *1629 regarding this. As far as charting its simple plots and fibs across the 3 TFs with higher TF giving the stronger pivot.

December is a funny month, I used the Asian cable breakout during that month a while back and turned my small account 300%, it never worked again though

 

[p-lab]

Hi gunjambo it sounds like you don't have the eBook.

 

[andybissell]

Andybissell,

I'm new to Forex so correct me if I'm making a mistake here, but you are talking about 50 EMA whereas 3 Duck's only used 60 SMA on 3 time frames, so is that where your mistake is?? also could you explain steps 1-3 in more detail, I don't know what you mean about the candles, maybe upload example pics?

ta

Hi gunjambo,

Using 4 time frames is just a further safety net, as are all of my rules, but these are just my personal rules I apply to the system and they are by no means proven. SMA may be better as this effectively just looks over a longer time period (even ignoring the 50/60) so I may give this a go....however, I traded this way whilst demoing and it was successful. I guess its a trade off between success and no. of entry signals received as to which type of MA you use.

I've attempted to attach a jpeg to help explain my rules 1 to 3. The pic shows a 5 minute chart with 50EMA (blue) and 200EMA (pink)

You can check back or just take my word that the daily, 4h and 1hr charts at this moment were above the 50EMA.

The 3 red lines are my stop loss down at 1.3972, my entry at 1.3992, and my limit - or take profit - at 1.4012.

Inside the blue circle is where price was the 'wrong' side of the 50EMA - I am looking for a long trade here. My rule 3 states there must be at least 4 candles that have closed the wrong side.....in this case there are 11.

The next candle (in the orange circle) which I called the 'trigger' candle, crosses the 50EMA and closes above it AND its main body is larger than 3 pips - i.e. close price minus open price is greater than or equal to 3. So the trigger candle has satisfied rules 1 and 2.

The next candle (in the red circle) which I called the 'momentum' candle, confirms the movement passed the 50EMA, it takes out the previous candle's high point and it is larger than 3 pips....once this candle is closed I can then enter the market - you'll notice I was late into this trade but it paid off anyway.

Hope this helps.
And thanks for the thought on SMA over EMA, I'll do a lookback at my trades and I will probably give this a go.

Andy

 

[gunjambo]

Hi gunjambo it sounds like you don't have the eBook.

yeah I do have the full ebook, but wasn't sure why Andy was talking about EMA's as it's not mentioned by the Captain. The candle stuff is beyond me at this point as I'm still studying what it all means... any ideas on the times & currencies to trade?

 

[gunjambo]

hi Andy,

that was a great post, and thanks for the pic upload. Ok I understand what you are saying now, I think you have your own entry strategy whereas the Captain states "enter when price breaks the last high above the SMA". so basically you are taking extra precaution by the candle movements?

so what would you have done if the trigger candle only had a 2 pip main body, but the momentum candle had a 5 pip body for example? Would you have passed on the trade as it didnt meet the 3pip candle rule or would you have traded anyway....

 

[Captain Currency]

Good morning Duck Hunters,

During some periods a currency pair can be going sideways or a swing/trend maybe potentially coming to an end. During these periods a trader needs to take control and employ a “wait and see” approach rather than jumping in and getting suckered into a 50/50 gamble with a currency pair.

Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;

Eur.Usd – A wait and see approach here, a break and hold above 1.3988 is needed to get me interested and looking for the buying opportunities if/when my 3 ducks line up

Gbp.Usd – A wait and see approach here, a break and hold above 1.6250 is needed to get me interested and looking for the buying opportunities if/when my 3 ducks line up

Eur.Gbp – I would be looking for buying opportunities when my 3 ducks line up

Usd.Chf – Bulls looking to take control on this pair, will we see the bears putting up a fight? A wait and see approach here. A break and hold above 0.9370 would get me bullish and looking for the buying opportunities if/when my 3 ducks line up. A move back below 0.9257 would get me bearish and looking for the selling opportunities if/when my 3 ducks line up

Aud.Usd – A bit 50/50 at the moment so I would not be looking to trade this pair for the moment. I’m not going to get suckered into a 50/50 gamble on this pair :-0

Usd.Cad – I would be looking for selling opportunities when my 3 ducks line up

Usd.Jpy – A wait and see approach here. A break and hold above 83.06 is needed to get me interested and looking for the buying opportunities if/when my 3 ducks line up. A move back below 81.94 would get me bearish and looking for the selling opportunities if/when my 3 ducks line up

Eur.Jpy – I would be looking for buying opportunities when my 3 ducks line up

Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus!​

Best wishes,
Andy


These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.

 

[clissold345]

Hi Captain Currency

Thanks for writing your ebook and sending it to me. I'm a beginner and I find the 3 Ducks System very helpful. I'm going to try it out. It worked for me today. Results below (Oanda practice account).

Regards,

Chris.

March 15 07:15:11 2011 GMT Buy Market USD/CAD 0.98252
March 15 07:20:07 2011 GMT Sell Market USD/CHF 0.92242
March 15 07:23:04 2011 GMT Sell Market AUD/USD 0.99501
March 15 07:50:25 2011 GMT Stop Loss USD/CAD 0.98022 -£94.92
March 15 09:13:14 2011 GMT Close Trade USD/CHF 0.92148 +£41.22
March 15 09:16:52 2011 GMT Close Trade AUD/USD 0.99106 +£171.74
March 15 16:36:14 2011 GMT Sell Market USD/CHF 0.91709
March 15 16:42:36 2011 GMT Take Profit USD/CHF 0.91528 +£67.61

 

[Captain Currency]

Greetings Duck Hunters,

A very happy St Patricks day to you all.


Andy.

 

[rathcoole_exile]

Andy, how's the family ? wean ok ?

Garry

 

[richardserrano]

do anyone know a company that have a tightened spread tham 2p gbp/usd and to allow you to do 10 or 20p per point without charge you for the stop loss
also i am looking for somebody with a lot of experience and good results on spread betting to see me traiding, take me to next level and help me to improve my way of trading
thank you

 

[chrismidnite]

You'll struggle finding that from a spreadbetting broker. Worldspreads offer 0pip spread on some pairs and various instruments but i dont think thats on cable, though i havent heard very many positive reports about them, the usual problems, server dropping, long waits for withdrawals etc.
I spreadbet through ETX Capital and have never had a problem with them, very stable platform, 2 day withdrawals, amazing customer service though their spreads are only average, 2pip EU, 3pip cable etc but being able to trust them with my money makes the extra pips worth it.
If you find someone to take your trading to the next level, send them to me when your finished! ;-)

 

[chrismidnite]

BTW, ETX's minimum bet is 0.50p/pip for forex and £1/pip on most other markets, which they have literally 1000's!

 

[clissold345]

My results for today using the 3 Ducks Trading System (though I haven't always followed it to the letter):

March 18 07:49:01 2011 GMT Buy Market EUR/GBP 0.87174 60,000
March 18 07:56:23 2011 GMT Close Trade EUR/GBP 0.87241 60,000
Profit £40.20

March 18 09:48:38 2011 GMT Buy Market EUR/GBP 0.87474 50,000
March 18 10:08:16 2011 GMT Close Trade EUR/GBP 0.87518 50,000
Profit £22.00

March 18 11:02:58 2011 GMT Buy Market EUR/GBP 0.87544 50,000
March 18 11:04:31 2011 GMT Close Trade EUR/GBP 0.87564 50,000
Profit £10.00

March 18 11:19:16 2011 GMT Buy Market EUR/GBP 0.87525 50,000
March 18 12:23:31 2011 GMT Stop Loss EUR/GBP 0.87387 50,000
Loss £68.99

March 18 13:33:30 2011 GMT Buy Market GBP/USD 1.61752 50,000
March 18 15:59:48 2011 GMT Close Trade GBP/USD 1.61828 50,000
Profit £23.42

 

[clissold345]

My 3 Ducks trades for today. Oanda practice account.

March 21 07:03:10 2011 GMT Buy Market AUD/USD 1.00281 55,000
March 21 10:22:34 2011 GMT Take Profit AUD/USD 1.00609 55,000
Profit £111.50

March 21 09:14:02 2011 GMT Sell Market USD/CAD 0.97923 70,000
March 21 10:24:01 2011 GMT Take Profit USD/CAD 0.97720 70,000
Profit £89.50

 

[clissold345]

If anyone wants details of the 3 Ducks Trading System, email Captain Currency and he will email you his ebook. My copy of the ebook has 25 pages and its size is 1.3 MB.

 

[Adamus]

Clissold, it looks like you are aiming for 30 pips - or 20 pips on USD/CAD. Any particular reason? Is your stop also 30 pips? Must be your own exit & MM tactics, right - there's nothing about it in the ebook, correct me if I'm wrong.

 

[ast8]

Clissold345 -Thanks for posting your trades. I'm new at this also and it helps to see what others are doing.

 

[jondgls]

Hello Members,

The 3 Ducks Trading System is a great contribution to the forex community. So much so that I decided to build a custom indicator that tracks the 3 Duck System across 17 pairs without having to have 51 charts open!

The indicator will:

• Track 17 currency pairs against the 3 Ducks trading rules.
• Allow you to enable / disable any of the 17 tracked pairs.
• Includes popup, email and sound alerts which you can enable / disable.
• Tracks the last alert on screen.

This indicator is an early warning system, letting you know the first time all 3 Ducks MA's are aligned on any given currency in any given direction. The indicator will only alert you once, any subsequent alerts for the same pair will only occur on an opposite signal.

The indicator is FREE and available for download here:
NexGen4x: Free 3 Ducks Indicator

No need to sign up or register for any thing .. just download, install and enjoy!

You are welcome to share the indicator, however, I ask that you do not mirror or attach the files anywhere. Instead please provide a link to the download page like the one I've provided above. Happy trading!

Regards,
JonDgls

 

[clissold345]

Hi Adamus, thanks for your response. I'm experimenting at present with different stops and lengths of trade, to see if I might be able to make money from following 3 Ducks. However, in his ebook Captain Currency says: "A day trader may use a fixed stop-loss of 20, 25 or 30 pips for example". He also talks of a risk/reward ratio of 1 : 1.5. So I think if someone was day trading and regularly setting a stop loss of 20 pips and looking for a profit of 30 pips, that would be consistent with 3 Ducks. Regards, Clissold345.

Clissold, it looks like you are aiming for 30 pips - or 20 pips on USD/CAD. Any particular reason? Is your stop also 30 pips? Must be your own exit & MM tactics, right - there's nothing about it in the ebook, correct me if I'm wrong.

 

[clissold345]

Hi ast8, thanks for the feedback. I'm glad you find me posting my trades of use. I'll try to avoid the temptation to only post my winning trades! I'm sure I'll have plenty of losing trades! Regards, Clissold345.

Clissold345 -Thanks for posting your trades. I'm new at this also and it helps to see what others are doing.