Thanks FMIC and Andy, I completely forgot about that post! I may have to read the entire thread again Haha
Thank you so much! I i’ve one question, which are the pairs your’s have been trading currently?
Well I closed out 3 trades at the start of the week NZD -7 pips EU +57 and Aus +65
The pairs on my list for this week are JPY EU GB Eu/GB Nzd Aus and Chf.
Magic, sounds like you caught the last leg of the recent downtrend on Aud.Usd. Nice to bag +65 pips on the way down, well done Donovan!
Eur.Jpy would have been a very good pair to trade over the last 2 - 3 weeks, very nice (smooth) down-trend!
Cheers FMIC, I like this post too: Just a few options you’d have pre-rate decision #FOMC #Rates #NFP
Best wishes on your forex journey Ibxjollier.
No problem Speedy Gonzales …
Trade well,
Andy
Captain Currency
thanks again Captain for the helpful examples.
Idem, where do you get your figures, please? I can’t line them up with anything. Cheers Bantam.
just thought i’d share how part of my system works. Basically I combine what I got from ducks and what I got from babypips– spotting mini range breakouts and mini reversals within 4h trends.
See pic for my typical setups with initial stop loss placement. Got a positive result in my backtest but first forward test was about 0 to -5R (if done better about 0R), which surprised me (after 13 trades). I think it was just bad luck…hope so.
Pic shows typical initial stop losses. For range breakouts it’s just a little outside the breakout level. For reversals it’s the nearest swing point. if the stop isn’t at least 20 pips, i’ll pick another fractal so it is. On average seem to get about 30 pip stops.
It’s encouraging to see captain’s live results on twitter. For about 2 months no gains but then they keep coming. That’s reality from time to time. A newby might not get that straight away.
if anyone thinks my system is flawed let me know…thanks
link might help with viewing :
https://app.box.com/s/puxgkce6fl2bre8o89x8du4hide29alt
I’m worried about your graphic designer Harpoon, has he been drinking too much coffee …
Good trading for the week ahead.
[B]Andy
Captain Currency[/B]
haha… you know i do drink coffee 2-3 times a day (cutting down from 4). but i’ve always been messy. it’s just the way some people are. leads to higher productivity i guess :57:
i just took usd cad. normally my stop is closer to the breakout level (say 20%, but maybe 50% or outside the range bottom is better) see what happens. this is a "1h consolidation duck breakout " . duck breakouts galore tonight ! haha.see what happens with this system…
Hello Captain and Anyone Else Who Can Help,
On May 30, you sent out an email that contained the following: “The 3 Ducks Fund (ticker symbol: TTD). Call it a “micro-fund” Norman that’s now open to small investors who can join and then automatically take similar trades to me, a clever bit of kit!”
I am very interested in looking into the details of the fund as I may decide to join! Only problem is, I don’t know what “ticker symbol: TTD” means or what media to look for it in, and I don’t know where to read the official info or otherwise be informed. Please help. I’d really like to find out. How can I join?
This may be too much to ask, Captain, but if you’re able, please tell me how I might contact you by email.
Thanks,
Norm
Go into his profile & click on his home page. Contact details are available there.
Failing that simply send him a private message.
Greetings Trend Traders,
Fundamentals could decide where price goes in the coming sessions, we might have to leave our technical analysis hat at the door for the moment …
Later on today (Wed) there will be a Fed meeting and on Friday we’ll get Non Farm Payroll numbers. The question I’m asking myself is: will trends keep there current direction after the news has been released and digested? I can’t honestly say, it is a wait and see game.
Beware of False Breakouts! During these times (on a run-up to large fundamental announcement) please be aware that pairs can do false breakouts especially if they are trading at their highs/low and maybe moving sideways within a tight 50-60 pip range, a bit like Eur.Usd at the mo (see chart below)
Sure, price could blast through resistance and move +100 pips without us but buying breakouts pre-news might get you into a lotta trouble …
Safe trading guys,
Andy
Captain Currency
Thanks Kyle. I’ll do that.
Norm
Huge thanks to Captain Currency, I made a textbook Three Ducks trade this morning over break at the office from my mobile for an easy 15 pips!
I’m a recent graduate of the School and Pipsology and with my novice understanding of the market and trading I was able to apply your rules and confidently make a successful trade. Below are some snapshots of my trade on GBP/JPY that I entered around 11am EST and my target was hit just before noon.
My entry was placed a few pips above the 60SMA and most recent swing high, unfortunately the snapshots blocks out a bit of that. My S/L was set a few pips below the most recent swing low and T/P was chosen simply using a R:R of 1:1. Luckily, my target was just barely reached and the market then began to trend downward.
I know Captain often uses support and resistance lines in conjunction with the ducks to pinpoint his trades, however, has anyone applied some use of daily or weekly pivots to the strategy for further confirmation?
Also, I do believe I was a bit to loose on my S/L and TP and should be aiming for a better risk to reward ratio on future trades. Especially when not monitoring my trades throughout the day and relying on targets.
Also, I did notice an opportunity where the price moved against but not breaking the trend and I should’ve added to my position slightly upon surpassing that resistance level the next time around. A smaller 0.5% to 1% position with a tighter S/L and TP would’ve served me quite well. I’ll upload a picture later this evening for reference.
Thank you once again, Captain.
Hey, Carnino!
I am trading this system in the original way for a while, but(as you said) from time to time I need a little bit more action as we have many long waiting times.
May I ask you? What Time Frames did you use for scalping?
It is worth it? Or was something temporary?
Thanks!
Hi!
I used the same standard time-frames for the 3 Ducks (namely H4, H1 and M5), but all the “action” took place on the M5. I just kept an eye out for “fast” moves and used tight stops (stop-loss and trailing-stop).
I still use 3 Ducks for scalping when the opportunity presents itself, but not on a regular basis as I don’t like being glued to the screen.
Hope that helps!
After a slightly a slightly down April ,good to start off May with a nice 65 pip gain on U/JPY. Seems to be a whole bunch of pairs setting up for possible moves next week as well.Lets hope this is a good month for the Ducks
Take more breaks! Congrats on the trade Sobrien, nice chart upload too!
That’s what you call “pain to gain” Donovan, well done, great when you can pull a medium winner, anything over +50 pips …
Andy
Captain Currency
Thanks for great system. Can I use it on any market? I see that CC is using only majors…
Get a copy of Andy’s ebook. It will answer most of your questions.
Send an email to <[email protected]> — put [I][B]ebook[/B][/I] in the subject line (very important)
.