and the daily, may I suggest tight stops on the shorts 
or you will lose your shorts, quite literally.
and the link to the real chart you can actually see, the images here suck WTF happened?>
You are aware that for the [I]3 Ducks[/I], you still have to look at H1 and M5 too, right? Your chart, is definitely not [I]3 Ducks[/I]!
[I]Andyās[/I] suggestion for shorts on the AUD/USD is not to go Short on it, but rather to be on the lookout for Short Opportunities (i.e. H4, H1 & M5), and there were some of those this week, even though it was rather āchoppyā.
However, no one says that 3 Ducks has 100% Win Rate. There are plenty of times when it will be loose, but it is the end result that counts. As a famous trader once said, and I quote:
"[B][I]Do you wanna be right, or do you wanna make money?[/I][/B]".
I donāt understand why you have to be so rude. Thanks for the link though
No, I was not rude! Yes, I was however sarcastic (and maybe a little condescending), calling you to attention about putting in the effort and not to expect to be āspoon-fedā (even thou I gave you the link anyway).
To succeed in Trading, you have to put in the effort, and you have to do things yourself, in order to learn and gain experience! If you are smart, you will take this as a āword to the wiseā and not as a āpersonal attackā!
Yeah but you donāt know my reason to why i didnāt google it. MAYBE i was in a rush and has no time? Donāt worry, i am 100% putting in the effort. I learn from my mistakes and only look forward. Thanks for the advice though.
I was interested in this pair (aud/usd) as well when captain brought it up. but i noted that it was on a 3 point trendline on the higher timeframe (Daily), and i was expecting it to bounce a 4th point at that point in time, so i held off. iām interested in it now though, although itās close to that support line captain mentioned. i donāt know, maybe i just wonāt worry about that support line and go in. i maybe i would have if it was a little more further away from it
interesting to note that in captains picture the moving average isnāt pointing down yet as it does in the duckās document. i guess if itās crossed passed it at least and the swing points look like a trend, then itās good enough a signal. thatās how i see it. and captain was saying to potentially let winners run or to take profit. so there are 2 approaches to this. i might just let all mine run and stick to one way (for 4h trades). gets a little complicated maybe for a beginner to have different profit strategies. just reflectingā¦
Please note that the Captainās suggestion for trading the AUD/USD was more than a week ago!
At the moment, it is below the 60 SMA on both the H4 and H1, but it is getting closer to the support zone mentioned by the Captain. This means it could get rather indecisive, either breaking through it and dropping further down, or bouncing off it and reversing the trend.
So, be careful and play it safe! Either risk very little or wait for it to show a clear indication of where it is headed. You could also scalp it, but maybe you could have a look at other currency pairs too, while you wait.
yeah, it is a week ago isnāt it. i always reflect a fair bit on what everyone says before i post. but good advice , i should watch that support zone
First week of trading with 3Ducksā¦2 trades , up 4%.
iāve been exploring a little with short term trades (1h/5min charts). iām thinking some trade setups can be any of 1h or 5min or even 15min setups. is there any reason why we would pick one of the particular short term timeframes over another (for short term trading)? iām thinking of just looking at how the 60sma fits on the timeframe. if the fit is rather noisy on one timeframe (lots of crossing over the moving average), or maybe the 60sma lags too much and consequently doesnāt delinate the up/down rallies well, but looks better and smoother on another timeframe, i might use that timeframe instead for the setup.
other thing is that if you use swing points on the 5min chart, stop distances are like 12 pipsā¦ perhaps iāve got this wrong in some way
i think i know the answer to my q: use the timeframe that a quality setup is onā¦ haha
but yeah, still investigating. seems like 5min charts produce tiny stop losses (if u use swing points on 5min chart) significantly smaller than 30 pips.
i use to think having 60sma was rather limiting as the period is always fixed to 60 but if you vary the timeframe it can fit betterā¦and thatās what iām looking for it seems to me - a good fit of 60sma. still learning (tonnes to learnā¦)
Hi Captain,
Thank you for your generous sharing about 3 Ducks!
On p. 10 of your e-book, you write, āIf you are a swing or positional 3 Ducks trader you could hold your winning trade as long as the current price remains above the sma on the 1 hour or even 4 hour timeframe.ā Are you suggesting that the 4H, 1H and 5M frames be used even for positional trades? What about using, for example, 2 Day 12H, and 1H?
Thank you
4h timeframe trades is considered positional trading in forex to my understanding, and same for longer timeframes (also positional).
1h might be swing or short term
5min would be short term.
2 day or 12h isnāt even in metatrader but are probably positional trading.
iām not perfectly certain but thatās what i think. and the duckās only deals with 4h and less, so donāt associate ducks with other timeframes like 12h and longer.
there is a 4h downtrend on aud-usd right now, but i havenāt been interested as price is in line with previous overhead resistance (market out by captainās previous post). thanks for the post captain as you mentioned overhead resistance which is something iām sorting through.
if iām trading 4h timeframe, i check the daily for swing points. if iām in the vicinity of one, iām thinking there could be overhead resistance coming up. as is the case of aud-usd right now. whether the daily is just ranging, going no where or in an uptrend, if my 4h setups are too close to daily swing points, i donāt go in. still learningā¦
just reflecting, when using duckās system, if my 5min chart isnāt looking nice and smooth but noisy, i think the 5min chart isnāt ātrendingā nicely, so i donāt use it. but if itās giving a smooth looking chart (as in the duckās manual), that means it is trending and it can give a predictable signal using the duckās moving average 60sma crossover technique. might dabble a bit more with 5 min charts as there havenāt been a great deal of 4h opportunities latelyā¦
Hi Harpoon,
Thanks for your reply.
Iāve done some research, and I think Iāve answered my own question. Iām not a proven trader, but I think Andy Perryās principle of 4H, 1H and 5M with entries on the 5M, can be extrapolated to entries on larger timeframes, and even tweaked a bit.
As for the larger timeframes, hereās what Investopedia says in their article entitled, Multiple Time Frame Analysis, which is not specifically for 3 Ducks, but for trades in general, here: Multiple Time Frame Analysis
āGenerally three time frames are chosen and those time frames will be based on the traderās individual trading strategy. A trader with a longer-term perspective may choose a Weekly, a Daily, and a 4-hour chart. A much shorter-term trader might choose a 4-hour, a 1-hour, and a 15-minute chart. The key is to use the longest-term chart in the array to determine the ābig pictureā and the direction in which to take the trade. Then use the shorter time frames to āfine tuneā where to enter positions in that direction.ā
As for 3 Ducks specifically, this is from someone who appears to be on the Babypips team (Note: Itās not from a forum) and ran extensive tests on 3 Ducks, here: System Review: 3 Ducks System. āAlso, instead of using the 4-hour, 1-hour, and 5-minute charts, I zoomed out a little and used the 4-hour, 1-hour, and 15-minute charts.ā Note: Instead of using 5 minutes, which is the standard 3 Ducks small frame, he used 15-minutes.
Therefore, two points:
- It seems proportional: The longer you intend to hold your trade, the higher the frames ought to be; and
- However long you intend to hold your trade, you donāt need to stick to the proportions of 4H, 1H and 5M, the proportions of which are 48 - 12 - 1. They can be tweaked.
Again, this is from a newbie, not a proven trader.
As far as some of the frames I originally mentioned that you pointed out are not on MT4, any time frame that is a multiple of 1 minute or 1 hour can be added by various softwares. The one I found installed and works best is from here: Period Converter Indicator For MT4(MetaTrader 4) - Auto Live Forex Trading Signals Service :Auto Live Forex Trading Signals Service. Scroll half-way down until you see a small red text link that says, āMT4 period converter.ā Once you get it installed, you have to install extra timeframes manually for different pairs.
Best wishes,
Norm
Lately i havenāt been getting into too many 4h setups. iām thinking there have been some nice looking 4h trends BUT they are approaching resistance from D1 fractals.
thatās how i see it anyway, but i donāt know. let me know otherwise people and thanks again.
in these 2 pics, i wouldnāt enter into the 4h uptrends since itās too close to a D1(daily) fractal. i assume the d1 fractal might cause resistance
(and thanks norm for the detailed info. i might have more to say about it in future)
You are over-thinking things again! There is no D1 in the Ducks, just H4, H1 and M5. Stop complicating things. Keep it simple!
well, you also suggested i pay attention to distance support/R. i think captain may have picked this level before since it was a TL that had bounces off it. another kind of S/R that i worry about is just higher tiemframe (D1) level fractals. since price was unable to go beyond these levels. so if iām considering a 4h trend that is close to one of these levels (D1) fractal, i donāt go in, as not enough space to make a profit. hope thatās correct thinkingā¦
(just realized there are some 5min ducks examples by captain at start of thread.have to download/import historic data to see it. should answer my qs i thinkā¦but getting 2007 5min data may be a complicated taskā¦)
Yes, you are correct, I did mention that, but that was a specific example to try show you that you would be getting into the trade late after the initial setup was detected a week before.
Over the course of your posts you have demonstrated a propensity of over-thinking things and worrying too much about every little minor deviation, so what I am trying to convey, is that for now, you should ignore those distractions, and just focus on the simple 3 Duck setup (win or loose) until you have it burnt into you memory so that it becomes 2nd nature to you.
Once you gain that experience, you will then begin to know which of those ādistractionsā matter and which do not.
It is not about winning every trade! In fact you could even loose more times than win, but what counts is the final profit factor and that it be a good one (that when you win, your profit covers all the losses and still makes extra).
Is the EA alert in Post # 145 for the 3 Ducks system the latest version, or is there a newer one? I downloaded the file and installed it in the correct MT4 data folder for Expert Advisers. But when I attach it to the chart, or when I try to drag it from the Navigatorās list to the chart, I see the small rectangle that replaces the cursor arrow. But when I release the mouse, nothing shows up, the usual parameter input menu does not pop up, and there is no white smiling emoji at the upper right corner of the chart. And when I double click on the indicator name itself, the MQL5 MetaEditor or some such editor shows up instead.
I donāt know anything about programming - all I want is a little EA that sends out an alert every time the 3 ducks line up. Like the original author, I live on the US East Coast and I am usually in bed when the ducks line up, so I need the EA to wake me up by the combination of sound, email or text message.
Thanks for any help.
P