Hi Captain (truly u are)…
Thanks for ur system… Am just going through your thread… Probably would finish it another 2 days…
I am new to forex (1 year old) but not new in losing money… Hope ur system saves me…
Need a clarity on position sizing i.e the lot size to be used per 1000$. I understand that it depends on the risk appetite… But need your advice on this as you are the expert and had been successful for the past 7 years…
Thanks in advance…
Congrats Rindoan
Was this only on Set&Forget system?
Do you mind sharing how many pips was it?
Thank you.
Yes set and forget.
174 pips.
What time frame you set your orders on? 5m, 1H or 4H?
Set them on the 5min
Thanks a lot.
What about your lot size and capital (IF YOU WISH TO SHARE), if not atleast someone who have been trading it successfully can explain about the lotsize advisable per 1000$ capital…
Thanks in advance…
When do you set your orders?
I am in Australia and can not follow late EU or US session.
Hello Forex Dog,
It seems that what you may be asking is not what lot size to use but rather [B]how to calculate the lot size[/B].
Lets assume that you will be risking 1% per trade and that your current capital (Account Balance) is $10000. Then 1% of $10000 gives you $100. Lets say that you will be placing an order on EUR/USD with a stop loss size of 25 pips. Now the pip value for EUR/USD in $ (your account currency) is $10/per pip/per lot.
Therefore Risk = Lot Size * Stop Size * Pip Value ($100 = Lots * 25 pips * $10)
So the position size is, Lots = 100/250 = 0.40 Lots (4 mini-lots or 40 micro-lots).
So, for 1% Risk of $10000 Balance for 25 pip Stop Loss, the position size is 0.40 Lots!
BabyPips also has an online Position Size Calculator in the Tools sections.
However, this is all basic stuff that is explained in BabyPips School of Pipsology (specifically in the subsection “How do I calculate profit and loss?”), so take some time to go through it. There is plenty of information there to help you master the necessary skills to augment the knowledge shared here by the Captain.
I place my orders in the evening EST.
Most of the times they did not get triggered before London open.
Thanks a lot Carnino…
Thank you for valuable info. I really appreciate it.
really loved your system… thanks a lot for sharing with us your strategies:)
Right, recently I took the plunge and bought the Advanced 3 Ducks Course. I am now feeling excited and, dare I say it, confident about any future trades. The whole concept is so straightforward-I MUST detach myself emotionally though, this has been one of my weak areas up to now.
I have dipped in and out of forex trading over the past ten years and never made any money, wiping out several accounts along the way. I have set-up a demo account to test the 3 Ducks method in earnest and will try and report back accordingly.
Out of interest-how many trades do all you 3 Ducks traders make a day/week/month on average? I realise there won’t be decent set-ups everyday, but a rough idea would be nice.
Best wishes to you all, and Andy, thanks a million!
Stick with the trends Duck Hunters!
Currently looking like our Ducks would favor;
[B]selling set-ups on these major pairs:[/B]
Eur.Usd (price below 4hr sma)
Gbp.Usd (price below 4hr sma)
Aud.Usd (price below 4hr sma)
[B]selling set-ups on these cross pairs:[/B]
Eur.Gbp (price [I]just[/I] below 4hr sma)
Eur.Jpy (price below 4hr sma)
[B]buying set-ups on these major pairs:[/B]
Usd.Chf (price above 4hr sma)
Usd.Cad (price above 4hr sma)
Usd.Jpy (price above 4hr sma)
Chat soon,
[B]Andy
Captain Currency[/B]
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
Great info. This may have Ben answered as I haven’t had time to go through all the pages.
My question is this. Do you wait till it crosses back over the sma to do another trade.
The reason I ask is, if price keeps trending down even after trade closes is that it or do you continue trading the trend or wait.
[B]Similar Question[/B]
I think a similar question got answered back in April '14 Metals Maven, it went a little bit like this …
[B]Similar Answer[/B]
Page 8 of the 3 Ducks eBook covers this, just read page 8 one more time under the title: [B]Did You Miss the Move?[/B]
Chat soon.
[B]Andy
Captain Currency[/B]
I can hear certain parts of the crowd howling and it sounds something like this; “it’s oversold, Gbp.Usd is oversold!”
More selling please, jeepers… tell me what 3 Ducks Trend Trader wouldn’t love to see the US Dollar pile another bit of pressure on the Gbp (& Eur) over the next few weeks …
On the flip side, the spoiler might come from Wednesday’s inflation report out of the UK and talk of a possible rate increase down the road which could boost the Gbp against the Usd. That report is due out on Wed 13th.
Chat soon Duck Hunters,
Andy
Captain Currency
A quick market scan Duck Hunters and it’s looking like our Ducks would favor;
[B]selling set-ups on these major pairs:[/B]
Eur.Usd
Gbp.Usd
[B]buying set-ups on this major pairs:[/B]
Usd.Jpy
[B]buying set-ups on this cross pairs:[/B]
Eur.Gbp
[B]Andy
Captain Currency[/B]
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
