Has there been a post in this thread that compares the 3 Ducks system with the 3 little Pigs system? I did a search but did not find anything.
Thanks
Thatâs because thereâs no comparison to make.
The only common theme they share is a directional biased momentum approach.
Every other aspect is completely different.
That is like comparing âapplesâ and âorangesâ, or should I say âpigsâ and âducksâ - They are very different âanimalsâ. There is no comparison to be made!
How to position yourself pre-FOMC ⌠Get Comfy!
Could be a tad hazardous trading USD pairs over the next few days Duck Hunters.
Probably best to adjust your trades and lock in a bit of profit (if there is any) or close the position out - take the risk out of the trade.
Or else ⌠just sit on your hands until the FOMC deliver their rate statement (Wed Oct 29th).
Andy
Captain Currency
Hi Carnino, you seem to be doing really well. how long have you been trading the 3 ducks and are you doing it full time?
Same goes for anyone else who wants to answer the question.
Thanks in advance
I still enjoy my âdayâ job, so I trade part-time as a hobby. I use several methods, including the â3 Ducksâ.
So I had a bit of down turn when the markets starting to flatten out in the past few weeks and even though I scaled down my trading a lot given most markets were not trending I still could not stay out completely and took trades in stuff I shouldnât (again).
Had a draw down from 75% gains to a 55% gains but since then I am now back up total of 80% gains, so back on track.
Lesson learned, if the markets are not trending then stay the f⌠out.
PS: I have absolutely fallen in love with Heikin Ashi charts (compared to regular candle stick charts), and I think they are a godsend for this kind of trend trading.
Would highly recommend people to use these exclusively for 3 duck trading.
Hello Rindoan,
I would like to hear more about why you prefer Heikin Ashi over candle stick. Iâve only briefly dabbled with the Heikin Ashi in the past but really kind of liked them. I was just interested in knowing more specifics on what it is about Heikin Ashi that you feel helps you in 3 ducks trading.
Thanks and happy trading!
Hi Vegivory,
To me Heikin Ashi charts make it a LOT easier to see the trend, the strength of a trend and potentially when it will stop.
You can see the same things with candle sticks but there is a lot more noise.
Since the 3 ducks is a trend following system I find Heikin Ashi to be far superior to candle sticks when it comes to evaluating which currency pair to trade compared to another.
Bottom line is you see the trend much more clearly with less noise.
PS: Would definitely not recommended Heikin Ashi if you also trade price action and candle sticks as Heikin Ashi changes the candles by averaging them out (doesnât change the highs and lows of the moves though).
Thanks Rindoan,
Iâll do some more research on Heiken Ashi and see if I can get it dialed in and working for me.
Thinking out of the box is always risky but pleasure.
Hi Rindoan,
This is something I am struggling with a bit here.
Do you think you could spend 5 mins describing the top 3 lessons you learnt (problem, cause, solution). I think it would help immensly, if you are being successful, to let us know what your biggest learning points are.
Personally I struggle to stay out of the market because I donât want to miss the trend and then I struggle to get out of a trade because I donât want to lose out on potential profit.
I guess itâs because I am greedy.
To solve this isssue, I have tried to be happy with setting profit targets and waiting for the next set up. This is frustrating when the price sails past my target and I sit, waiting like a lemon for the next set up (which has happened over the last couple of days, cable and AUDUSD for example).
I am asking because I am always lookng for ways to be more effective and efficient and what you said in the quote struck a chord with me; I look forward to hearing what you have to say.
Steve L
I am located on the east coast of the US and for me I try to set my pending orders as late at night as possible (11pm etc). I can hopefully get them executed in the moves when the UK market opens and or later when the US market opens. By far the biggest moves happens at these point in time, as I see it, and I would prefer not to get executed in the asian session. Moves executed in the asian session however can follow through in the other sessions especially in the jpy, nzd and aud etc but I tend to get most of my losing trades there.
In terms of timing the market I would highly suggest you look at fibonacci extensions for your exits.
I personally tend to manually close out trades around the 1.000 fib extension if I can get out at that point.
As you can see in the example below sometimes price doesnât stay there for long 
Looking below you can see the green arrow was my entry, and this was taken of a secondary move after missing the first 80 pip move upwards.
PS: USDCAD is looking to setup nicely.
What is everyone having more success with, stops on the 5M swings or the 1H or 4H chart?
pretty much exclusively 5min chart for me
hmm I just made a rather startling discovery looking over my past trades and statement.
I the last 30 days I have paid around 900 usd in commission to FXCM (after their new pricing structure) which extrapolated to a full year would be 10800 usd in commissions.
If I made the prediction that I would have a 100% return on my capital per year (for calculation purposes) and my account started at 24000 usd then it would have ended at 48000 usd.
If I had made exactly the same trades with for example Interactive Brokers I would have paid 4800 usd in commission which with 100% return on capital, as per above, I would have ended up with 48000 + (10800 - 4800) = 54000 usd (there about).
Over the course of a year the commission difference between these 2 brokers would mean a massive [B]6000 USD[/B] or [B]12.5%[/B] increase just by switching to a broker with lower commission!
Now if you only expect to make 50% return on capital per year it would still be a difference of 6000 usd (since your trading volume would be the same) but now your total account would have gone from 24000 usd to 36000 usd at FXCM for example and 42000 usd at Interactive Brokers. This is an increase of again [B]6000 usd[/B] but [B]16.66%[/B].
[B]I would highly suggest people consider their brokers commissions very carefully if trading 2% of your capital per trade and take about 2 trades per day.[/B]
PS: The spread of your broker is of course also extremely important but with the new price structure of FXCM they are about the same as IB these days (as I see it at least).
rindoan, are you using SL & TP based off support resistance also? Or a fixed TP & SL? Are you letting winners run or just trying to grab 20 or 30 pis at a time? Are you closing out your trades when the price closes below the 60 SMA on the 5 min or only if the SL gets hit?
Thanks im trying to get my head around a way to use this system and so far im using the 5M for entries based off support and resistance breaks and then using more support and resistance in order to find where to take profit or set my stop losses. Ive stayed away from any fixed TP and SL and some have been talking about earlier in this thread.
Yikes, thatâs a lot of commission!
answered that a few pages back I believe
Well Iâve been using the Heikin Ashi for the past week now and I have to agree with Rindoan, itâs so much easier for me to read price action with Heikin Ashi. Iâve completed a few profitable trades now and was able to âexpertlyâ exit the trade just before it reversed direction. I was also able to âscalpâ a trade off of a news event in Canada where I got in perfectly timed and exited exactly where I needed to and ended up with a nice profit. I tell ya sometimes itâs like having a crystal ball!
Thanks Rindoan!
Yeah, I agree, the Heikin Ashi indicator added a lot to what I have already been doing with my charts; I hadnât even thought of using HA, for years. Thanks for the memory jog!
As you can see from the two attached screen shots, they certainly help me define trends. If you look closely, you may notice that I like indicators that confirm other indicators.
Everything on these charts are pretty tricked out â except for the mighty, white, 3 Ducks 60 MA. The yellow line is a 20 SMA/Close that I took from the center line of the Bollinger Bands and find helpful in determining shorter trends. The black/aqua/black line is a non-lag MA that I find invaluable and Iâve "hookedâ that solid, crimson, 4 SMA to it with the Previous Indicatorâs Data option. The rest of the âcustomizedâ indicators and the Expert Advisor (Trailingator) you can probably recognize. Note that Iâve âcustomizedâ all of them.
The first screen shot shows what a chart looks like with just the HA running without all of the ânoise.â The second chart shows the ânoise.â
Best to all of you 3 Duckers!