The 3 Duck's Trading System

[Captain Currency]

Hello Traders,

Nice trade on The 3 Duck's Trading System today. A good place to buy was on the small pullback after it broke the high, stop-loss at the last low and the target at the highs. Straight forward enough!

Kind Regards,

[tonymand]

Originally Posted by Captain Currency

Hello Traders,

Nice trade on The 3 Duck's Trading System today. A good place to buy was on the small pullback after it broke the high, stop-loss at the last low and the target at the highs. Straight forward enough!

Kind Regards,

What pair captain?

[Captain Currency]

Originally Posted by tonymand

What pair captain?

Hello Tony,

It was Eur/Usd, sorry for not putting that in my previuos post.

Kind Regards,

Captain Currency.

[tonymand]

Thanks, appreciate that so I can follow along on my charts

[tonymand]

Originally Posted by Captain Currency

Hello Traders,

Nice trade on The 3 Duck's Trading System today. A good place to buy was on the small pullback after it broke the high, stop-loss at the last low and the target at the highs. Straight forward enough!

Kind Regards,

Yes this was nice Captain. I spent some time looking at charts for this set up over the weekend. As you have said it is simple and neat, thanks. Just for clarification is this a strong set up because the 1H has just crossed up so we are taking the first 5 min trend at that point and is this something you generally look for or if the 4H and 1H stay up would you repeatedly enter on 5 min ma crosses and new highs

[Captain Currency]

Originally Posted by tonymand

Yes this was nice Captain. I spent some time looking at charts for this set up over the weekend. As you have said it is simple and neat, thanks. Just for clarification is this a strong set up because the 1H has just crossed up so we are taking the first 5 min trend at that point and is this something you generally look for or if the 4H and 1H stay up would you repeatedly enter on 5 min ma crosses and new highs

Hello Tony,

Yes well spotted, prices have been "hugging" the 1hr sma over the last few hours but with prices above the 4hr sma and prices just above the 1hr sma and with prices crossing the 5min sma and breaking the highs - I would have no problem pulling the trigger at that point. Would I repeately enter when the 5min keeps breaking above highs? Depends whats going on around me, news, sentiment, time etc.

Hope that helps,

Captain Currency.

[droesparky]

Hey CC nice system with very simple and straightforward logic. I think even I can follow it.

here is a MA indicator that everyone can use to put the 1hr and 4hr 50ema on the 5 min chart. Just change the time period setting in the indicator.

blessings to all

[Captain Currency]

Originally Posted by droesparky

Hey CC nice system with very simple and straightforward logic. I think even I can follow it.

here is a MA indicator that everyone can use to put the 1hr and 4hr 50ema on the 5 min chart. Just change the time period setting in the indicator.

blessings to all

Hello Droesparky,

Thanks for that! I still like to look at the 3 timeframes - thats just me.

Kind Regards,

Captain Currency.

[Tess]

Originally Posted by tonymand

Just for clarification is this a strong set up because the 1H has just crossed?

So, we are taking the first 5 min trend at that point.

And if the 4H and 1H stay up would you enter on 5 min ma crosses/new highs?

Tony, I hope you don’t mind, but I’ve bulleted your questions to CC to add emphasis to their relevance.


Forget about the 60sma for a minute & look again at what you inferred in your comments? What essentially were you asking confirmation of?!

I’m sure you (& other like minded observers) are more than well aware of the powerful message behind the 60sma technique. The Captain has certainly made reference to it in a couple of his posts.

For those who still don’t quite “get it” :

You’re attempting to trigger entries in line with any obvious directional flows, being orchestrated via the 4&1 hour timeframes. The template timeframe in this instance, being the 5min (for ease of use).

If the 60sma was invisible from the charts, you’d essentially be looking for higher high/higher low steps in an uptrend…..lower high/lower low steps in a downtrend. If you’re a ‘trend trader’ then you’d maybe require to witness at least 2/3 of these occurances to tempt your taste buds?

Of course, your criteria might differ slightly from the entry/exit levels displayed by the 60sma, but the generics are exactly the same.

The inclusion of the 60sma is merely a comfort blanket to this process..a guide if you like.

If you scroll back over your charts & observe your (intended) entry, partial profit booking & exit points, up & down the price chart, you’ll notice that these pit stops generally fall into line with natural price reversal or pullback tendancies on those higher timeframe chart references.

As with any type of (potential) trend entry, we have absolutely no idea as to how the trade will develop, if at all.

The only definite event we’re certain of, is our risk portion of the trade (our stop-loss level & position size ratio’s). The rest is down to experience/familiarity with our instrument(s) & the skills we possess regarding trade management.

Nevertheless, this strategy is a very cool addition to the Forum & highlights the important concept of “keeping things simple & uncluttered” both in technical observation & trade implementation.

[ChowClown]

Great post, Tess. Thanks