The 3 Duck's Trading System

[daydreamer65]

Originally Posted by dav

Just read your thread and tried your methodology, works pretty nice... well done. how do you set your TP or exits?

thanks. dave

It's all in the o/p's intial post.

Stop-Losses: This is where you can make this system your own. If you are a short term trader you may want to put your stop-loss above the highs on the 5 min or the 1 hr chart. If you are more of a positional trader you may wish to put your stop-loss above a high on the 4 hr chart. You could also use a fixed stop-loss, maybe 25-30 pips or more from entry. It all depends what type of a trader you are, so you decide! Another "trick" that may help you preserve capital, If you do sell and prices get back above the 5 min 60 sma by 10 pips (not a good sign) you may want to cut your losses short before your stop-loss. But if you are a longer term trader this may not be a big deal for you.


Targets: Same again, depends what type of a trader you are but target can be support or resistance levels.

[tonymand]

Very useful to have the trade charts Captain. If you are going to make this a regular feature I very much look forward to following along

[Captain Currency]

Originally Posted by tonymand

Very useful to have the trade charts Captain. If you are going to make this a regular feature I very much look forward to following along

Hello Tony,

Sorry, no I cant see it been a regular feature to be posting trades from The 3 Duck's Trading System here on the forum, as much as I would like to - its very time consuming and I think my other work would suffer greatly! I think I even said similiar on the Captain Currency blog. But there is nothing stopping you or any of the other guys from posting trades, I will be certainly keeping an eye on the posts and "drop in" every now and again.

Kind Regards,

Captain Currency.

[Captain Currency]

Typical Friday afternoon type of trading - not much happening!
The 3 Duck's Trading System got a few chances to trade in the last few hours. The EUR/USD got a buy, the USD/CAD got a sell, the USD/AUD got a buy. I bought USD/AUD at .8648 with a stop-loss at .8624ish, the target was open but I'd say I would have looked to take profit around .8695. But the move up is sluggish and the trade has been stopped out at breakeven - it was up +22 pips at one stage.

Have a good weekend,

PS: Its not possible for me to post trades as they happen, but I will try and post some of the trades I do using The 3 Duck's Trading System. (the good ones and the bad ones!!)

[Bocajunior]

Captain,

Thanks for sharing this system. I like it's simplicity.

For a bit of fun, I demo-ed this on Thursday and Friday during the European session and using mostly EUR/USD, USD/JPY and GBP/USD pairs, I had about 10 winners in a row and only 2 losing trades in all. I will continue next week and see how it goes.

Thanks again.

[Captain Currency]

Originally Posted by Bocajunior

Captain,

Thanks for sharing this system. I like it's simplicity.

For a bit of fun, I demo-ed this on Thursday and Friday during the European session and using mostly EUR/USD, USD/JPY and GBP/USD pairs, I had about 10 winners in a row and only 2 losing trades in all. I will continue next week and see how it goes.

Thanks again.

Hello Bocajunior,

WOW, you did 12 trades between Thursday & Friday? I did'nt think it gave that many signals. Are you following the "rules" - steps 1,2&3? Gbp/Usd the 4hr was below the sma on Thur and above the 1hr sma, so the Ducks where not lined up on Thursday for cable. Glad to hear you had success with The 3 Ducks Trading Systems, well done, but just make sure you understand and follow the rules.
I know from past experiences that a trader might overlook some of the rules and this can cause problems futher down the road as he is bascially trading something different to me and others that follow the system. When I say "make the system your own" I mean enteries, stops, targets, adding to winning positions etc. Dont change the bones of the system., the Ducks dont like that!

Have a great weekend,

Captain Currency.

[tonymand]

Originally Posted by Captain Currency

Hello Tony,

Sorry, no I cant see it been a regular feature to be posting trades from The 3 Duck's Trading System here on the forum, as much as I would like to - its very time consuming and I think my other work would suffer greatly! I think I even said similiar on the Captain Currency blog. But there is nothing stopping you or any of the other guys from posting trades, I will be certainly keeping an eye on the posts and "drop in" every now and again.

Kind Regards,

Captain Currency.

Of course thats fair enough.

[Tess]

Originally Posted by Bocajunior

Captain,

I had about 10 winners in a row and only 2 losing trades in all. I will continue next week and see how it goes.

Agree, I think you're mis-reading the signals there Bocajunior.

There were no trades on Cable Thursday, & it only signalled a long into the european afternoon Friday.

You would only been looking for "longs" on EURUSD across both Thursday & Friday & would only really have required to climb into one, maybe two all day long Thursday, & again (long) Friday afternoon.

USDJPY - signals were a little on the mixed side & maybe you'd have binned that pair given the 4hr & 1hr cross currents?

Was signalling shorts late into the european morning on Thursday & longs into the european afternoon Friday. But certainly no more than a couple half decent executions, if that.

Of the 3 pairs you highlighted, Euro certainly displayed the more attractive & less stressful environment!

[Bocajunior]

Folks,

I dont think I was misreading the signals. I maybe confused with the pairs. I'll post them here after the weekend.

Just to be clear, I was taking trades when the price on all 3 time frames was on the same side of the line.

If they were, on the 5 min chart, I set an entry order slightly above or below the most recent high/ low, with TP at 10 pips and SL about 7 pips. These trades were only open for minutes rather than hours. Maybe I was lucky Thursday and Friday.

Regards

[Captain Currency]

Hello Traders,

Thanks Tess agreed, Bocajunior - not picking on you, yes you could have been buying a few times when prices where going higher above the ma on the 5min chart - thats not really how I would trade the system, I like to get in on the first move - so to speak. Hope that helps a bit.

Kind Regards,

Captain Currency.