Thought Iâd share my trades more often. Tried to post charts but messed up somehow and donât have time to retry right now. Last night had to set my trades a bit early⌠about 9:30pm Central Time (10:30 NY time) I think. I closed the trades that were still open when when I looked at the charts at 6:00 this morning.
EurUsd = Loss
NzdUsd = Win (If I hadnât closed in the morning it would have gone to break even or loss)
GbpUsd = Win (Same comment)
Bummer, itâs looks like the Euro got trampled down after the European Central Bank decided to front load its buying scheme in May and June.
50/50 ⌠right now from a technical point of view I think Iâd prefer to stay on the sidelines until we get some clear direction (either back up or lower down) on the Eur.Usd pair.
Thatâs a really nice system and I got some good trades with it, thanks for that.
But Iâve got a question. Today, I entered USD/CAD. I set the pending order, the order got filled, SL was hit.
Now I know that losing is part of the game and thatâs fine. But I wanted to ask if there might have been some âsignâ, to skip this trade or something like that.
Iâm a newbie to the system so I would take what I say with a grain of salt. I also took the same trade and was stopped out.
Nothing inherently wrong with it except the uptrend wasnât really established and neither was the sma.
looking at the 4hr price action now, it looks like price might be reversing to continue short after reaching that resistance at 1.2200 and if that is the case, we can then take advantage of that. On to the next one! good luck Exterior.
I have been following this strategy and I was looking at the eur/gbp chart and it looks like to could be real close to a short- just waiting for the 5 minâŚ
I wouldnât over analysis it too much Exterior, even a good looking trade like yours can fall flat on its face. Trend traders will frequently bump into false breakouts throughout their careers - frustrating or what!
Eur.Gbp could be worth sticking on your short-list for the trading week ahead Duck Hunters.
In the coming sessions Iâd reckon weâll see the Bears go below 0.7000 on the Eur.Gbp pair.
First Duck (trend), currently the H4 trend (and momentum) is clearly bearish and our Ducks would only favour selling set-ups. Eur.Gbp has an average daily pip variation figure of about 74 pips based on the last 4 weeks of data.
Naturally Trend Traders will be looking to sell into possible rallies and/or sell breakouts when all 3 Ducks line up in the same direction.
Protect Profits: (Fundamental) on Tues night / Wed morning GMT weâll get the Bank of Japan policy meeting minutes. Signs that further easing is on the way wonât be too good for the Yen and Usd.Jpy could go north.
Hi all
I all new to this, so please forgive me if i am asking a "silly"question or one that may have been asked before. If a trade is triggered and while you are watching a pair move, another entry signal is given, that is if the next 5min candle went against you but the following one went the "right"way, would you leave it be or would entewr another position?
And some people are using a Stochastic hook on the 5 min, which turns the 3 ducks into more of a pullback system.
Others play more of breakout system of the 1 hour (support/resistance).
As a base systemâŚAdam Grimes feels this methodology really has no significant edgeâŚand might be hurting you rather than helping you. Adam Grimes has blog entry called âThat Trend Indicator, Is it Helping or Hurting?â
So how are the people in this group creating an edge for themselves?
You can see posts where people are posting insane returnsâŚwhen the markets are trendingâŚand they are giddyâŚand soon they disappear from postingâŚnever to describe the drawdowns.
There was one member you created his own babypips journal called "3 Ducks with Envelopes Journal"
I really appreciate his honesty, and his results were lackluster at best.
It would be great if Captain Currency had a forum for paid members to share amongst each other and learn from each other. I have trouble finding anyone using â3 ducksâ successfully long term on the internet. Other than a few nice posts here when the market is really trending.
Just curious how everyone is making this work for them.
As posted a few times I believe - Captain puts forth a general Idea -that is sound - as you seem to be aware - The details of each and or everyoneâs approach is their own. This is a key, you need to make this work with YOUR understanding of the market. It does take time and effort to realize how/what you perceive the market to be doing - therefore - the 3 Ducks approach - is a sound logical approach to try to gain entry into a market where the dominant flows are with you.
Go ahead and make 100 trades âstrictlyâ following the 3 Ducks approach - what is your experience?
