My AUD/USD trade hit SL for -26 pips
Perhaps you shoulda put a wider stop in. You would have bagged profits today.
Currently myfxbook shows risk of ruin to be .01 for 10% of account which will require 8 consecutive losing trades. But i wouldnāt trust any of these stats until there is at least 6 months or more of history. Iām not at the 6 month mark on the real account yet.
Here are some stats:
Longs Won: (10/13) 76%
Shorts Won: (25/34) 73%
Average Win: 142.42 pips / $33.94
Average Loss: -111.50 pips / -$28.92
Avg. Trade Length: 3d
My risk/Return ratio fluctuates. Itās not set in stone.
Greetings Duck Hunters,
Wooser ā¦ the Greek minister gave Eur.Usd a bit of a boost yesterday but I wouldnāt be shocked to see Eur.Usd turning back down in the coming sessions.
For now Iād be a āSitting Duckā on Eur.Usd and some other pairs after recent counter-trend rallies.
A bit of carefulness needed too, we have a Bank of England interest rate statement this Thu (5th) and on Fr (6th) we have the Non-Farm Payrolls, so staying safe is the name of the game!
Andy
Captain Currency
I have at least one pair for Monday action USD/JPY:
File ā2096564924_ LMAX-LiveUK - [USDJPY.lmx,H1] 2015-02-08 18.31.06.pngā
I would be very careful going long this pair at a break of the top especially if it happens during the Asian session.
Price has moved to far to fast and is due more of a pull back than it has gotten so far.
I would go long on this pair as well but the stoploss will need to be tight as its coming near to resistance on the monthly chart.
But play it safe and short EURUSD and EURGBP.
Didnāt 3 Ducks give a buy signal for USD/JPY at 117.72 at 13:30 GMT last Friday? I didnāt get long until 14:20 when it broke the 10 day high at 118.90.
It seems to me that 5min
Friday was a big news day. From page 1 of this thread, āTake care to watch what is going on around you - economic new releases, holidays etc.ā You can check for pending news on FXStreetās āEconomic Calendarā.
I skipped the USD/JPY because the chart looks scary, just like all the CHF pairs. Isnāt it better to look for something trending?
No trades for me today - sometimes not trading at the right time can feel almost as good as a winning trade.
Playing it safe is the KEY 
its funny how it works out, sometimes nothing, other days loads of set ups
Iām currently trading GBP/JPY. Is this a right setup to follow? Iāve been losing 6 trades in a row. Still a newbie to this 3ducks system. Iām kind of losing the faith in 3 ducksā¦ : (
If you are new, I would suggest only trading currency pairs that Capt Currency trades. In post #1 of this thread, he suggests EUR/USD and GBP/USD. You could probably spot other pairs used in his examples throughout the thread. In the āAdvancedā course (not public), he lists the pairs that he trades.
You seem to have a diagonal āsupport lineā drawn on your charts, which I do not believe is part of the ā3 Ducksā system. On post #1, CC does say, āFor extra confirmation we should let prices break the last low on the 5 min chart.ā
Having said all that, I donāt see anything obviously wrong with your GBP/JPY trade.
Thanks for your reply Boop303,
I didnāt know by just adding āsupport lineā would affect the 3 ducks system. but it just helps me to see the uptrend better. Speaking of āAdvanced courseā, it just me feel frustrated when I thought I found the right guideline for forex trading after I read some pages of thread in the beginning and also CCās E-book, over and over again. All of sudden, I realize that there are advance stuff we need to know that is available in the private course. So, overall, there are not much cover in this thread nor his free-ebook am I right?
There are 2 systems, the free ābasicā system that is discussed here, and the non-free āadvancedā system. A few weeks ago I saw the ābasicā system, and it looked interesting enough that I got the āadvancedā system. In my opinion, the āadvancedā system is about as good a system as you will find that is geared towards end-of-day trading. When I say āend-of-dayā, I mean that you come home from work (I live in EST), look at the markets, and place your trades - taking about 30 minutes of your time. There are a lot of subtle benefits to the āadvancedā system that are not obvious. Things that I know work, which CC must have learned through experience, and that he integrated in to his method. The best benefit of the āadvancedā course is that CC seems to have done a good job combining a lot of good practices into a simplified trading method.
The biggest drawback, in my opinion, is that he doesnāt have a place where people using the āadvancedā method can discuss the system. He would prefer people to not discuss the system online. While I think the advanced ā3 Ducks Systemā is a legitimate approach to trading, preventing discussion of a trading system is usually done to prevent users from realizing a system is not working, and that the āguruā is a fake. Since I consider the system to be valid, it is unfortunate people canāt discuss it privately.
I am currently trading the āadvancedā system with minimal money and leverage, and I am still getting use to it. My returns are still at break-even, but I am sometimes trying different things that are not part of the basic or advanced system. A few days ago I created a sub-account to keep these things separate. My feeling right now is that I personally have to get more in sync with the news cycles, which is covered more in the āadvancedā system. I have to get use to not trading.
Having seen the Basic and Advanced systems, I consider them very different. The Basic system is a subset of the Advanced system, but that is like saying the alphabet is a subset of a book. I think if you like or see promise in the Basic system, you should just get the Advanced system. If you have no plans to get the Advanced system, I would do something else.
Having said all that, Iāve only been working with the ā3 Ducksā for a few weeks, and there are people who have been participating in this thread for years. They can probably give you a more accurate view of the āBasicā system. Also, the quality of the videos in the ā3 Ducksā system was surprisingly good.
3 ducks framework is not complete framework, just the basics. I am trying to trade with real account using this system + my mods. My journal is here. As you can see even with such simple framework I do a lot of mistakes.
You need to add to this most important thing: money management rules which will help you be profitable if you are only 40% right. Also you need to look in your risk or ruin. If you donāt want to invest in paid course, then free information is for example on blog of Nial Fuller or Chris Capre.
That looked like a good trade and you should have a decent profit with that today:)
The bottom line is that the 3 ducks is as good a starting point in getting profitable that you are likely to find. If you read the whole thread you will find nuggets of gold dust - odd posts that will give you insights to gaining consistency and holding onto profits.
It is essentially a trending system that allows you to hop on for a short ride, but it is clearly not mechanical. Even when the 3 ducks line up you need to look at the overall context and then make a decision as to whether the risk is worth it.
The hardest thing to learn, IMO, is when not to trade. Because of the correlations between many of these pairs, you will get weeks when good signals are coming along every day, and several of them at one time. Other days you will be tempted to enter a trade because the ducks line up but is a trend actually in place? Are you entering then because you want to get a winner every day? When trends are stalling and ranges develop, this method will not work so well and you are best sitting on your hands until there is clear directional movement. Trades come along like buses - some days there will be none, and other days many will come at once. Bear that in mind when deciding your choices.