Another great post to print out,
and pin up on your wall.
[U]USDCHF pair, 21/03/2017[/U]
4hour time frame: price well below the 60 SMA, indicating a downwards movement (1st duck).
1hour time frame: There was a cross below the 60 SMA at 09:00 GMT+2 (2nd duck).
5min time frame: Price crossed the 60 SMA at 08:10 GMT+2 and it afterwards continued below the last low at about 0.9966 at 09:10 GMT+2, just 10 minutes after the 1h TF crossing (3rd duck).
Selling the pair at this price level would have given someone approximately 40 pips.
I am on my way to understand this system, and I’m making this post to ensure that I do understand it well. So, how do you see this trade? Is it following the rules of the 3 Ducks system?
Scanning some other pairs today, I didn’t find a valid entry point according to the 3 Ducks, did you?
Take another look at GBPCAD, EURUSD, GBPUSD, GOLD & CADJPY,
Pipcrawler’s Pips, you 're right! For EURUSD, it could have been a 40+ pips trade early in the morning (GMT+2 time) and for GBPUSD a 60+ pips trade a little after.
Should pay closer attention then, I really like the fact that there are so many signals across many pairs during the day. I will also keep some more pairs under my radar.
Thank you for your comment hawkmoon.
That would be a very wise tactic to adopt when looking to take advantage of this type of approach. Don’t handcuff yourself by restricting your field of vision.
One or two thread members took that concept a step further & constructed grids with each of the individual currencies (GBP/CHF/EURO/YEN/CAD etc) cross matched against each other offering a quick reference guide to identify & spotlight high probability opportunities.
hi carmino,
no , i’m not profitable, but i’ve been at it for a very long time already and getting closer (way longer than the date on here). I’ve put in the hard work already and I think i’m going to be profitable soon - felt like I was learning something new everyday for a long time… I already have done extensive manual backtesting , with detailed recording. My system is tailored to how I feel comfortable with using the duck’s . Like other people I don’t feel good about using the 5min chart. Still, my system is based on the ducks and I used the ducks to learn about trading. And it feels like I sure oh learned a lot. My feeling is that, running this system, is like squeezing money out - sometimes nothing, other times a lot. It’s very positive I think for me that i’m still treading (about zero). And some dummy trades I took (without test money, no time) were actually profitable. So I think it should work. Plus another miss by a few pips. That’s all positive , that i’m still at zero. Means next time i’ll be getting it
thought of a nice way to trail my stop and go to sleep – use the 1h chart, using what I call ‘spacious’ swing points (my tp is set to 2.5R. Another nice idea might be to have e.g. 2 orders (say one at 1.5R TP, another with tp 2.5R). might really help out with drawdown .just some ideas.don’t like price going up without me collecting something. but that is later on to do (first get the thing working as it is).
Thank you very much for your assistance. You’ve helped me out when I was feeling somewhat discouraged about it all. So i’m grateful.
Thanks again.
I see a few on this thread are talking about stop placement and tp ,fwiw I don’t use the 5 min chart at all I place stops below obvious areas on the 1Hr and move them when a new area looks good(to me) I let the market take me out (mostly)
here’s a link to a thread that might give you something to think about in terms of stop placement and letting profits run on.The first two pages are were most of the good bits are.
http://forums.babypips.com/newbie-island/52662-real-trading-edge-quantified-trading-stop-management.html
If posting the link is inappropriate mods please delete,but I think it ties in nicely with 3 Ducks
Here here, thanks Carmino for all the time and effort you put into the 3 Ducks thread (and thanks to all the other regular contributors too :-))
[B]Andy
Captain Currency[/B]
Check page 1 of this thread.
Of course, we can provide a link for ALL (282 pages) of the information on the subject! Happy reading!
[ul]
[li][B]http://forums.babypips.com/free-forex-trading-systems/6580-3-ducks-trading-system.html[/B]
[/li][/ul]
Hi All,
I am planning to start trialing out the 3 Ducks set up and I am just wondering if the ‘system’ is still relevant to forex futures? Or is it more for spot forex?
Thanks in advance,
Trender
Hi guys,
Would anyone be able to give me an answer with regards to my post above. This thread seems to have gone a little quiet atm. Would love to know if the 3 ducks set up will works on forex futures?
Thanks
“Lexys” trades the futures market … maybe send her a visitor message via BabyPips.
Thanks mate will do.
Page 2 of Andy Perry’s ebook:
If you haven’t read the ebook, that should be your starting point. You can request Andy’s free ebook by sending him an email. Instructions can be found in the early portion of this thread.
.
Thanks Clint, I actually read the book and good point - he states it clearly. I guess I just wanted extra confirmation with regards to futures but I think i’ll take your point as confirmation.
Cheers
Looks like the binary option boys are onto you Captain
Three Ducks Binary Options Strategy | Binary Trading
You BINARY OPTION BOYS better start paying [B]royalties[/B]
to Captain Currency for using his [B]trademarked 3 Ducks.[/B]
.
LOL Clint and CarlosRay, even to give us a mention would’ve been a nice gesture ehhh …
Have a great weekend,
[B]Andy
Captain Currency[/B]