Yes, I took his advanced course. Too, funny, I would have made money on both those charts I posted had I placed a trade. Damnit. I also would have made money on two other trades I was eyeing. The trouble is you don’t know when the price is going to break out of a range or keep bouncing around and take out your stop - which is what seemed to happen to me all this week except for last night/today! Grrr. Better trading next week I hope.
Hahaha I couldn’t agree more!! I was really hard on myself at the beginning of the week for losing so many pips but I then realized that this system is not focused on the Risk to Reward as much as simply making money over time so I just need to keep placing my trades and the big winners should take care of things. I didn’t make back everything I lost earlier this week but I am still in profit this month. Yes, we’ll get those pips next week!
Greetings Duck Hunters,
Bulls tried but couldn’t get control this morning, looks to me like there’s a bit of profit-taking happening over on the Usd.Cad pair. If you’re already long this pair you might want to start thinking of moving your stop-loss up and locking in some profit.
What I’m thinking is, will we see buyer re-entering if we get pullbacks to lower levels, I think we will. I’m still bullish on this pair, 1st Duck (4hr chart) won’t allow me to be any other way …
That 1.4400 area of past resistance I [/I]could become future support (if price drops that low), a spot where buyer might try and get long again, buying the pullback!
Fundamentally, Bank of Canada interest rate decision this Wed coming (20th). Will they be bold and cut rates in the coming months - low oil prices ain’t helping the Cad - somebody might need to do something quick …
Good trading to you all for the week ahead,
Andy
Captain Currency
I made a few bad trades yesterday, but am faring better today. Tonight I have taken AUD/JPY, AUD/USD, and EUR/AUD.
Screenshot of the AUD/JPY trade - 
Hello there.
I was wondering if this method could work on longer time frames. Lets say 1D, 4H and 1H for entry point (when I don`t have time to look at chart every 5 minutes). Did anyone try that?
Thanks
I would suggest B[/B] using [I]The 3 Ducks Trading System[/I] exactly as taught, in order to gain a high-probability entry into the market — and then B[/B] letting market dynamics determine whether your position ends as a day-trade, or develops into a short-term trade (lasting a couple of days), a swing trade (lasting a couple of weeks), or a position trade (lasting months, or longer).
The methodology you are contemplating essentially relies on the 1-hour chart to trigger an entry, as opposed to the 5-minute chart as taught in [I]The 3 Ducks.[/I] The 1-hour time-frame gathers twelve 5-minute candles into each 1-hour candle, obscuring the price action which occurs within each 60-minute period. So, when you base your entry on the price-action you see on the 1-hour chart, you are basically blind to the price-action on lower time-frames.
Your entry on a 1-hour chart may catch a valid move in your desired direction on your 1-hour trigger chart, while at the same time catching a significant counter-move on a smaller time-frame. As a result, you have to endure the counter-move on the smaller time-frame, taking the temporary loss (presumably on paper) produced by that counter-move.
On the other hand, entering on a smaller time-frame can help you avoid some of these temporary losses — without, in any way, preventing your trade from running as long and as far as market dynamics will allow.
Ideally, when going long, you would like to catch an up-wave on your smallest time-frame, which then rolls into an up-wave on your intermediate time-frame, and finally rolls into up-waves on longer time-frames. This sort of entry, when you get it right, has the wonderful characteristic of moving immediately into profit, never threatening your initial stop-loss.
Years ago, a very smart trader taught me a valuable lesson on entries.
She said, “Every trade begins as a scalp.”
It took a while for me to understand the depth of that short statement. My take on it is this: No matter which time-frame you think you are trading (meaning [I]entering[/I]), price-action on the scalping time-frames (tick, 1-minute, maybe 5-minute) will determine what happens to your trade in the first seconds, or minutes, after entry. Then, price-action on the longer time-frames will determine what happens to your trade over the next few hours, over the remainder of the day, over the rest of the week, and beyond.
Clearly, if you have the good fortune to enter a day-trade that has “legs” — one that develops into a successful longer-term trade — then, you will want to look at longer-term charts. That’s when you should widen your view to the Daily or Weekly charts. But, this is should happen in the [I]trade management[/I] phase in your trade — [I]not at the entry.[/I]
•
Finally, contrary to the statement in your post, [I]The 3 Ducks[/I] as taught (using H4-H1-m5 charts) does not require you to “look at charts every 5 minutes”. There is no need for that.
.
Great answer. Thanks a lot. I get it now 
H4 chart: Below = Look to sell
H4 chart: Above = Look to buy
H2 chart: Below = Probably sell
H2 chart: Above = Probably buy
M5 chart: Below = Sell
M5 chart: Above = Buy
Is this basically what the OP is saying? Also when I add an indicator on my chart I get the option of open, close, high, low, typical, median, weighted. Which should I be selecting?
I’ve been bad 
I’ve strayed this week. I can’t help but shake this feeling that the 3 Ducks has a lot of chance in the system. While it is geared towards following the trend I’m wondering if the entry is too willy nilly i.e. we set a pending order based on where we’d LIKE prices to go as opposed to where the are LIKELY to go based on valid information. Often times I’ll place a trade and the price triggers and then bounces sideways - often taking out my stop.
I’ve been messing around with Hector Deville’s 3 SMA system which is another trend following system that attempts to catch the predictable bounces in the direction of the trend off of a support or resistance zone. The system makes a lot of sense and I’ve placed a few successful trades, however, the constant monitoring of charts for entry signals and profit taking is exhausting and I can’t trade like that. The entries are akin to 3 Ducks is but catch the moves often double the entry point of 3 Ducks.
I wonder if there is a way to stack the deck even further in the 3 Ducks favor when entering a trade. I have been caught in so many ranges that bounce around and take out my stops as opposed to going in my favour. Thoughts anyone?
Maybe take only trades that agree with the trend of the daily chart. Use the 3 ducks entry rules. But if the ducks say to go long and the daily trend is down, don’t take the trade. Maybe you will have better probability of catching a longer run if you stay with the daily trend.
We should check daily timeframe’s candle or it’s up trend n down trend ?? just check it out my todays trade…with very small account.
It was only a suggestion by me. The daily time frame is not part of the 3 Ducks entry rules.
I prefer to mainly take trades in the direction of the Daily trend. In my case, if 3 Ducks gives a good signal to go long but the daily trend is down, I would probably not take the trade.
I suppose that is further confirmation of going with the larger trend. I don’t know that looking on the daily will help me with my seemingly bad luck of getting caught in a continuation of price consolidation within the trend instead of getting the breakout of the area.
It’s a bit of a pickle placing a pending order near a congested S/R area only to have the trade triggered and the S/R area holds and price bounce back up taking you out. However, perhaps waiting for a candle to close through the area of S/R as confirmation and then placing an order at the open of the next candle kinda defeats the whole set-and-forget approach which I really like.
Trading results from this week. Ended in the positive at least! I opened up two positions on a AUDUSD trade, one with a 50 pip SL and a 30 pip TP and the other with a 50 pip SL and an open profit target. The trade went against me for a 100 pip loss. That was the worst trade of the week. I was afraid that using a two position technique could result in that out come and it did - just my luck.
Did you build that stat tool? Looks great! Forgive me if it’s common knowledge, I’m new to this.
[QUOTE=“Spoof;744412”]Trading results from this week. Ended in the positive at least! I opened up two positions on a AUDUSD trade, one with a 50 pip SL and a 30 pip TP and the other with a 50 pip SL and an open profit target. The trade went against me for a 100 pip loss. That was the worst trade of the week. I was afraid that using a two position technique could result in that out come and it did - just my luck. <img src=“301 Moved Permanently”/>[/QUOTE]
I’m not sure about the double entry.
Great when it works, but sooo bad when it doesn’t. I think you need to be super confident in your trades to do that, and I’m not.
No, I didn’t make it. That is part of the MT4 trading platform. It is just a screen shot from the trading results in the Terminal.
What I dislike about systems, no feelings. What I like about systems, no feelings? I am learning price is price. If I wait for an announcement, most likely priced in. They say don’t chase price, yet if I do, I catch movement…just get out when I have a profit.
Na zdrowie