The 3 Duck's Trading System

tonymand · #91 (**permalink**) 10-11-2007, 10:00 AM

Help me Captain, those damn ducks are everywhere, is there a cure?

Captain Currency · #92 (**permalink**) 10-11-2007, 03:07 PM

Quote:

Originally Posted by tonymand

Help me Captain, those damn ducks are everywhere, is there a cure?

Hi Tony,

LOL - glad to see the ducks are working for you!

Kind Regards,

Captain Currency

jlmac27 · #93 (**permalink**) 10-11-2007, 03:29 PM

Hello cap how's it going! I am messing around a little bit with your system.I have one question for you.What do I do with the stop loss?You said about 25 pips awawy from you b/e Is this where you usaully put yours.I know everyones risk tolerance is different but is that about the right area for the average risk taker?Am I making sense?O'well hope to hear from you....

Captain Currency · #94 (**permalink**) 10-11-2007, 05:22 PM

Quote:

Originally Posted by jlmac27

Hello cap how's it going! I am messing around a little bit with your system.I have one question for you.What do I do with the stop loss?You said about 25 pips awawy from you b/e Is this where you usaully put yours.I know everyones risk tolerance is different but is that about the right area for the average risk taker?Am I making sense?O'well hope to hear from you....

Hello Jlmac,

Stop-losses, targets etc - this is where you make the system your own, all depends what type of a trader you are - day - swing - positional YOU DECIDE!

Kind Regards,

Captain Currency.

tonymand · #95 (**permalink**) 10-11-2007, 08:40 PM

Just wanted to emphasise the Captains comments. The beauty of this strategy is that you can take the principles of it, look at the way you generaly trade and see if it fits into your overall view of the market. For instance I like trading the european open (notice all my previous examples related to that time although there were also entries on the JY crosses yesterday in the Asian session) and will be flexible with trailing techniques and will set profit targets in line with previous supply areas or fib extensions. I also like to have confirmation from other pairs. In other words if I am contemplating a GU trade and GY is breaking out in the same direction then I am getting confirmation that the mover is the pound. Hence you can really make this a strategy that is unique to you and I think this is the best way to use it rather than have a mechanical one size fits all approach. If you carefully read the Captains posts you will see that this is what he is recommending

tonymand · #96 (**permalink**) 10-12-2007, 04:39 AM

This entry on GU this pm satisfies the 3 ducks, break below the Asian low and break of the significant round number. It is shouting 'sell me'. Out first half at 1R now looking to see how far we might get. Unlike last night I dont see any major levels in our way for now. Also it is friday and my observation is that if the market starts to trend it can last a while as medium term traders look to square their positions ahead of the weekend. My stop is at breakeven and I will use peak/troughs for the trail (assuming some form)