Elliott wave is just another pattern fitting technique, yes the market does move up in 3 smooth waves and down in 2 sometimes, but not very often. There have been books and books published on this subject and some have dedicated their whole lives to it's study, it's put forward as a scientific methodology to market trading. Well why if it provides such a good opportunity for success is it almost impossible to identify in a real market situation? and why doesn't everyone make a living using it? because, like fibs, it is trying to apply linear mathematics to a chaotic system....not a chance. FFS, if fibs had any real edge any six year could drag a fib tool across an impulse wave and make consistent gains. Just as an aside, do you trade full time for a living?
Best Thread The 3 Duck's Trading System
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Elliott wave is just another pattern fitting technique, yes the market does move up in 3 smooth waves and down in 2 sometimes, but not very often. There have been books and books published on this subject and some have dedicated their whole lives to it's study, it's put forward as a scientific methodology to market trading. Well why if it provides such a good opportunity for success is it almost impossible to identify in a real market situation? and why doesn't everyone make a living using it? because, like fibs, it is trying to apply linear mathematics to a chaotic system....not a chance. FFS, if fibs had any real edge any six year could drag a fib tool across an impulse wave and make consistent gains. Just as an aside, do you trade full time for a living?
forexkunta
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Hmmm..... Everyone is an expert! Yes, I do derive my living from the financial markets. Here we go again with experts about everything and don't give anything a chance. You are dead wrong with your opinion of EW, but that is ok. So be it. I happen to use it in everything I trade, and it works well. But I have spent the time required to learn it inside and out. This is exactly why I give t2w an F in anything that resembles advice. Everyone jumps in and trashes everything that someone had to say. Especially you Brits. I am outta here, good luck, and hope you really learn to trade.
Capt. I hate that you have to deal with this riff raff on your thread. You wont have to worry about me in the future. You have a great thread and method to teach people, keep up the great work.
QUOTE=Cerano;2170378]Elliott wave is just another pattern fitting technique, yes the market does move up in 3 smooth waves and down in 2 sometimes, but not very often. There have been books and books published on this subject and some have dedicated their whole lives to it's study, it's put forward as a scientific methodology to market trading. Well why if it provides such a good opportunity for success is it almost impossible to identify in a real market situation? and why doesn't everyone make a living using it? because, like fibs, it is trying to apply linear mathematics to a chaotic system....not a chance. FFS, if fibs had any real edge any six year could drag a fib tool across an impulse wave and make consistent gains. Just as an aside, do you trade full time for a living?[/QUOTE]
Capt. I hate that you have to deal with this riff raff on your thread. You wont have to worry about me in the future. You have a great thread and method to teach people, keep up the great work.
QUOTE=Cerano;2170378]Elliott wave is just another pattern fitting technique, yes the market does move up in 3 smooth waves and down in 2 sometimes, but not very often. There have been books and books published on this subject and some have dedicated their whole lives to it's study, it's put forward as a scientific methodology to market trading. Well why if it provides such a good opportunity for success is it almost impossible to identify in a real market situation? and why doesn't everyone make a living using it? because, like fibs, it is trying to apply linear mathematics to a chaotic system....not a chance. FFS, if fibs had any real edge any six year could drag a fib tool across an impulse wave and make consistent gains. Just as an aside, do you trade full time for a living?[/QUOTE]
Sgt Pepper
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I have already stated in my first post that I have been a full time trader for 6 years with this as my only income, whereas in your profile you state you are part time, which for me means a hobbyist. You state, trading experience 3 to 5 years what does that mean exactly? is it 3 or 5 years? No, everyone isn't an expert but that's the impression you get on these forums whereas in fact the stats show that over 90% are losing traders, that's why (nearly) everything is trashed, because most of it's rubbish.
I know I can come across as a little harsh at times but quite honestly I just want to take some of you new and novice traders give you a good shake and a slap across the face and shout "WAKE UP"
Andy who must have the patients of St Patrick gives a very simple and sound approach which he has been using as a professional for some considerable time and all folk seem to want to do is come in and change it and "improve" it.
Capt. doesn't have to deal with anything I'm saying because I'm not trying to corrupt his approach, you are. I came in here to endorse his approach and offer some support. Your rather insulting and childish reference to me as "riff raff" in your little hissy fit at the end really does say more about you than it does about me.
NOTE:- for anyone else who is reading this, this method as it stands is sound and with practice, a little common sense, and a little perception (observation of how the market really moves) there is no reason you can't make good consistent gains and without adding other trading tools.
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forexkunta
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Cerano,
First, I would like to offer you an apology for my post above. I really had a bad day yesterday, and I took it out on you and I am sorry for that.
Second, I am not in any way subverting the 3 Ducks approach. It is a valid approach, and I use it along with my own discretion, as Andy recommends, and also keep track of where in the moves we are with Elliott Wave. MY preference. You have yours. I really see EW in alot of the things that Andy says on this forum, so either he is a very, very intelligent person, or he also views things from the EW perspective. One thing that you cannot have is ordered chaos, period. You either have chaos, or order. The order part is why you can have a trend, to be able to use the 3 ducks to follow. EW does nothing more than teach you how to make sense of the order. If you have not actually read the book, and studied the views, then you are short changing yourself, and others with unintelligent talk against it. These are my views, and no one has to follow them, but don't trash my views because you disagree. As I will not yours.
I will forgo any further participation in this thread, as I really do not want to subvert anything that Andy is doing here.
Good luck to everyone in their trading.
First, I would like to offer you an apology for my post above. I really had a bad day yesterday, and I took it out on you and I am sorry for that.
Second, I am not in any way subverting the 3 Ducks approach. It is a valid approach, and I use it along with my own discretion, as Andy recommends, and also keep track of where in the moves we are with Elliott Wave. MY preference. You have yours. I really see EW in alot of the things that Andy says on this forum, so either he is a very, very intelligent person, or he also views things from the EW perspective. One thing that you cannot have is ordered chaos, period. You either have chaos, or order. The order part is why you can have a trend, to be able to use the 3 ducks to follow. EW does nothing more than teach you how to make sense of the order. If you have not actually read the book, and studied the views, then you are short changing yourself, and others with unintelligent talk against it. These are my views, and no one has to follow them, but don't trash my views because you disagree. As I will not yours.
I will forgo any further participation in this thread, as I really do not want to subvert anything that Andy is doing here.
Good luck to everyone in their trading.
I have already stated in my first post that I have been a full time trader for 6 years with this as my only income, whereas in your profile you state you are part time, which for me means a hobbyist. You state, trading experience 3 to 5 years what does that mean exactly? is it 3 or 5 years? No, everyone isn't an expert but that's the impression you get on these forums whereas in fact the stats show that over 90% are losing traders, that's why (nearly) everything is trashed, because most of it's rubbish.
I know I can come across as a little harsh at times but quite honestly I just want to take some of you new and novice traders give you a good shake and a slap across the face and shout "WAKE UP"
Andy who must have the patients of St Patrick gives a very simple and sound approach which he has been using as a professional for some considerable time and all folk seem to want to do is come in and change it and "improve" it.
Capt. doesn't have to deal with anything I'm saying because I'm not trying to corrupt his approach, you are. I came in here to endorse his approach and offer some support. Your rather insulting and childish reference to me as "riff raff" in your little hissy fit at the end really does say more about you than it does about me.
NOTE:- for anyone else who is reading this, this method as it stands is sound and with practice, a little common sense, and a little perception (observation of how the market really moves) there is no reason you can't make good consistent gains and without adding other trading tools.
Captain Currency
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3 Ducks, Weekend of 3rd - 4th Aug '13
Has the Fib War ended ......
Greeting Duck Hunters,
Boy’s o boys I'm always glad to see the back of Non Farm Payrolls
The good news is ... the up trend on Eur.Usd still looks decent after NFP which gets me thinking that our Ducks will be looking for the long (buying) trade set ups next week (see the chart below)
Here's the build up ... Eur.Usd trend is UP and your Ducks only favor longs (buys) on this pair at the moment when they all line up in the same direction.
Profit Targets
3 Duck Trend Traders could be targeting the 1.3350 area and above next week.
Stop-Loss for Intraday 3 Ducks Traders
Intraday stop-losses could be fixed or placed below hourly support.
Stop-Losses for Swing & Positional 3 Ducks Traders
Swing and positional traders trading Eur.Usd may prefer to have their stop-loss below the 1.3180 area on the 4 hour chart.
But …..
All Bullish interest is gone for me if we get a break and hold below the 1.3180 area next week.
Hopefully you'll catch a few winning trades.
Andy,
Captain Currency.
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
Has the Fib War ended ......
Greeting Duck Hunters,
Boy’s o boys I'm always glad to see the back of Non Farm Payrolls
The good news is ... the up trend on Eur.Usd still looks decent after NFP which gets me thinking that our Ducks will be looking for the long (buying) trade set ups next week (see the chart below)
Here's the build up ... Eur.Usd trend is UP and your Ducks only favor longs (buys) on this pair at the moment when they all line up in the same direction.
Profit Targets
3 Duck Trend Traders could be targeting the 1.3350 area and above next week.
Stop-Loss for Intraday 3 Ducks Traders
Intraday stop-losses could be fixed or placed below hourly support.
Stop-Losses for Swing & Positional 3 Ducks Traders
Swing and positional traders trading Eur.Usd may prefer to have their stop-loss below the 1.3180 area on the 4 hour chart.
But …..
All Bullish interest is gone for me if we get a break and hold below the 1.3180 area next week.
Hopefully you'll catch a few winning trades.
Andy,
Captain Currency.
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
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Re: 3 Ducks, Weekend of 3rd - 4th Aug '13
hi captain,
nice trades going on.
have seen most exp. traders using 50 and 100 DMA on their charts.
these are primarily the dynamic S/R.
do u use them as part of ur analysis too ?
thanks
hi captain,
nice trades going on.
have seen most exp. traders using 50 and 100 DMA on their charts.
these are primarily the dynamic S/R.
do u use them as part of ur analysis too ?
thanks
rsh01
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....a more specific & thus better post than your previous one.
theres a million ways to skin a cat, being a successful trader is imo more about money m'ment, you can have as many or as little number of trading indicators incorporated in your strategy but its not for me or you to say what is right or wrong, the bottom line does that.
theres a thread in the journals section (think it won thread of the year by t2w not too long ago) by a guy who trades fx using pin bars off of pivot points.....if it works for him then great but his posts imo show that prob through thousands of hours of screen time he has learnt when to cut a trade at break even or small loss. that imo is what gives him an edge & makes him profitable.
at the same time theres another thread of a multi k thread poster who uses loadsa indicators (BBs / rsi et al) & has taken the subjectivity out of the trade by automating (iirc) the strategy....& that works for him.
neither are right or wrong, both afaik make money. happy days.
the 3 ducks is a great example of keeping it simple, however being able to read price action is imo key to making it work. if sticking a fib on there to add as confluence suits you then fine, though i dont think it will make much difference.
fwiw what is fact is that some big players do use fibs. following the big money (which is exactly what trading the trend does) is not such a bad idea.
i can pm you the links to both strategies i mention if you wish.
M
malaguti
Quality post rsh..
we all have opinions, they are just that...an opinion. there is no right or wrong.
if someone dislikes elliott that doesn't make his opinion wrong. trading is subjective and as rsh rightly points out, its whatever works for you.
Except Elliott waves
we all have opinions, they are just that...an opinion. there is no right or wrong.
if someone dislikes elliott that doesn't make his opinion wrong. trading is subjective and as rsh rightly points out, its whatever works for you.
Except Elliott waves
Tinnaz369
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Re: 3 Ducks, Weekend of 3rd - 4th Aug '13
Hey Captain,
I would just like to say a big thanks for posting up the three ducks system.
As a beginner it is great to have the chance to check the system out. I'm only paper trading but have enjoyed looking through live charts for the 3 ducks.
I don't know whether or not I will go on to use the system with real money, I probably will, but it has provided me with a great oppurtunity to understand what factors contribute to creating a solid system.
Anyway, cheers for posting it, whether it uses fibs or not its still a great post!
I look forwards to duck hunting in the future :smart:
Hey Captain,
I would just like to say a big thanks for posting up the three ducks system.
As a beginner it is great to have the chance to check the system out. I'm only paper trading but have enjoyed looking through live charts for the 3 ducks.
I don't know whether or not I will go on to use the system with real money, I probably will, but it has provided me with a great oppurtunity to understand what factors contribute to creating a solid system.
Anyway, cheers for posting it, whether it uses fibs or not its still a great post
!I look forwards to duck hunting in the future :smart:
Sgt Pepper
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I'm really happy with the 3 Ducks. I know it works. And even though I'm a newcomer, I know enough to know it'll probably work better if I'm not following it mechanically but also using price action, so if there's anything you could particularly recommend on price action and pm me that would be greatly appreciated.
Thanks & best.
rsh01
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out at be last trade
Captain Currency
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Getting zapped sounds painful Neil .... I hear ya, on the flip side sometimes the news can help us.
You could have been trading Eur.Usd this week, looks smoother than Gbp.Usd
Keep up the good work Buddy,
Andy
Captain Currency
Captain Currency
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3 Ducks, Weekend of 10th - 11th August '13
They say good trading won't happen by accident Duck Hunters, we gotta try and plan it.
A pair I'd be planning to put on my shortlist for next week would be Usd.Jpy (see chart below). Decent looking 4hr down trend, just what our Ducks like and an average daily pip variation in around 115 pips over the past few weeks.
That 95.80 area of support is just asking to be broken; maybe it will happen next week.
Hopefully we can catch a few winners next week.
Andy
Captain Currency
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
They say good trading won't happen by accident Duck Hunters, we gotta try and plan it.
A pair I'd be planning to put on my shortlist for next week would be Usd.Jpy (see chart below). Decent looking 4hr down trend, just what our Ducks like and an average daily pip variation in around 115 pips over the past few weeks.
That 95.80 area of support is just asking to be broken; maybe it will happen next week.
Hopefully we can catch a few winners next week.
Andy
Captain Currency
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
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Captain Currency
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Bullets or Biscuits?
A bit 50/50ish out there at the moment for trend traders; save your bullets and have a coffee and a few biscuits, best to give the market one or two sessions to get some direction I think ….
Andy
Captain Currency.
A bit 50/50ish out there at the moment for trend traders; save your bullets and have a coffee and a few biscuits, best to give the market one or two sessions to get some direction I think ….
Andy
Captain Currency.
