Need help with the 3 Ducks in a Row method....!

Beginner Questions
1

Hi Guys !!
Being a newbie ( 2 months into a demo account )…I would need some info about that method …mainly the Entry.

From what I read and understand …the 5 minutes Charts is use for the Entry.
But in that timeframe…isn’t that what we call Scalping ?

Personally…i prefer the Daily…and like to keep my trades for a day or two…
( I use the Tradingview Risk to Reward ratio “widget”…with a 1:2 )

Is there a method to combine both…( Trading in the Daily…using the 3 Ducks method )…without trying to enter in the 5 minutes Charts ?
…or am I missing something here ??? :wink:

Many thanks in advance !!

2

Yes, you’re missing quite a lot, actually.

Apparently, you haven’t read the eBook that describes The 3 Duck’s Trading System.

You should get it and read it.

It will answer the question you have asked, plus most of the other questions you might think of.

To get the eBook, go to THIS POST in the 3 Duck’s thread, and click on the direct link provided there.

Then follow the insructions in the link.

3

I dunno about 3 ducks, there are many facy names but basic knowledge is the most important.

You wanna trade daily chart then you need to determine entry point snd if your entry point is based on daily chart then you need more money in your account as your stoploss will be big.

All the time frames can be used to trade long term but do you know how to read the charts? Chart reading skill is the basis of successful trading.

4

Thanks for the answer …but “Apparently”…you don’t know me… :wink:

I’ve read the TWO version of the book…and even watch some video on the method…in Russian !!

What I don’t understand …( In general )…is that this precise method always end with the 5 minutes Timeframe for the entry. ( Exemples and Screenshots…are mostly on that Timeframe …)

For two months in my training…I’ve been using the Daily…and the 4 hours charts to put my entry…stoploss etc…No problem.

But when I put those on the 5 minutes chart…then revert to my Daily and 4 Hours…everything is “jumbled”…

On TradingView…( when i jump to the Daily …)the Stop Loss and Target are small…my Risk to Reward zone is cramped…etc…( a mess !!)

So …I think my question is:

How can I use this method ( That puts entry on the 5 minutes chart )…and still jump to my Daily timeframe…without everything being messed up. ???

PS: I’m not into scalping…so I NEVER used the 5 minute Charts…

I’m French…so maybe my question was “lost in translation”… :wink:

Thanks for your help !!

5

Thanks for your answer…!

Won’t a Trailing StopLoss limit the amount you were refering to…
…or not…???

Newbie here…

6

5-minute chart in Forex majors are irrelevant to most retail traders, they’re mostly random as far as trading instruments go.

A better idea is 1-week, 1-day and 1-hour charts.

1 Like
7

Eg. Your stoploss to be placed at the previous high if you short, compare daily and lower time frame, which one has a bigger stoploss? The logic is the same with trailing stop.

And in reply to your doubt on 5 min chart, let me put it this way, in order for you to see price going up in daily chart, the price in 1 min has to go up before 5 min show you price is going up, to 10 min to 15 min to 30 min and so on up to the highest time frame.