Greetings Duck Hunters,
A very happy St Patricks day to you all.
Andy.
Thanks Andy for a great system. This has been a very good day for 3 ducks on EUR/USD. Still working on exits. Any help from anyone would be appreaciated.
Jack
Your trading objectives will exert a major influence on how aggressively or passively you choose to manage your position after entry Jack & the risk tolerances you’re prepared to accept regarding how & when you exit.
If you’re using this method as a springboard for keying in & out of the market on an intraday basis as & when the 5 minute chart offers up tradeable opportunities, then your risk & trade management profile will be somewhat more active than when attempting to get a foothold in a core position & running with any intraweek directional flow.
You first need to determine what it is you’re looking to achieve from this method & tailor your style & risk attitude to those objectives.
There are various combinations of managing & exiting a trade including, but not exclusive to:
Exiting part of your bet & trailing the remaining stake (subject to minimum bet sizing) to technical price levels (peak-trough & swing) or percentages of the average days range.
Moving stops up to breakeven & reassessing the state of play at the end of a particular regional market close (London/New York/Tokyo), or a percentage of the average range leading into the close.
Scaling out (& back in) at technical levels of relevance, or average range numbers based on market drivers & influences.
It doesn’t need to be complex, but it must sit comfortably with your style & risk attitude to offer you confidence & stability.
Hello Members,
The 3 Ducks Trading System is a great contribution to the forex community. So much so that I decided to build a custom indicator that tracks the 3 Duck System across 17 pairs without having to have 51 charts open!
The indicator will:
[ul]
[li] Track 17 currency pairs against the 3 Ducks trading rules.
[/li][li] Enable / Disable any of the 17 tracked pairs.
[/li][li] Includes popup, email and sound alerts which you can enable / disable.
[/li][li] Tracks last Alert on screen.
[/li][/ul]
This indicator is an early warning system, letting you know the first time all 3 Ducks MA’s are aligned on any given currency in any given direction. The indicator will only alert you once, any subsequent alerts for the same pair will only occur on an opposite signal.
The indicator is FREE and available for download here:
[B][U]NexGen4x: Free 3 Ducks Indicator[/U][/B]
No need to sign up or register for any thing … just download, install and enjoy!
You are welcome to share the indicator, however, I ask that you do not mirror or attach the files anywhere. Instead please provide a link to the download page like the one I’ve provided above. Happy trading!
[B][U]@ Captain Currency:[/U][/B] You are also welcome to bundle the indicator with your free ebook as long as you leave the copyright info intact.
Regards,
JonDgls
Does this only work with the MetaTader platform?
I believe so.
Greetings savvy traders,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
Eur.Usd – I would be looking for buying opportunities when my 3 ducks line up
Gbp.Usd – I would be looking for buying opportunities when my 3 ducks line up
Eur.Gbp – Eur is stronger than the Gbp at the moment so I would be looking for buying opportunities when my 3 ducks line up
Usd.Chf – I would be looking for selling opportunities when my 3 ducks line up
Aud.Usd – A bit 50/50 so I would not be looking to trade this pair for the moment
Usd.Cad – Not the best looking currency pair at the moment so a wait and see approach for now
Usd.Jpy – technicals are gone out the window with the Yen pairs recently so on the sidelines is the safest option for me
[B]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/B]
Best wishes,
[B][I]Andy[/I][/B]
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
Andy, I need to learn a little more on my own before my 1 on 1 course. What broker & what platform chart are you using? And do they offer a demo? It would be easier for me to follow you using the same.
Thnaks, Jack
DoubleEcho, I am just starting to study currency trading. I have been trading options, futures & stocks for a long time. (81) This is different and what you mention work in the other markets as well. What you have told me speaks well for your knowledge of trading currencies. I will stay in the demo stage until I find a comfort level. 3 ducks fit the style that interests me.
Thanks
Jack
You’ve obviously been around long enough to realize there are no short cuts or surprises out there Jack.
The generics of price action is the same right across the spectrum. There might be unique variables associated with specific asset classes or instruments, but the psychological & behavorial price action footprints leave very similar tracks.
You won’t need much more than the framework offered on this thread to get a solid footing in the spot market.
Once you’re familiar & comfortable with the overall concept it can be adjusted & tailored to suit individual risk appetite & strategy specific preference by dropping the 4 hour confirmation & focusing the 60/5 combo. But I guess I don’t need to tell you that. (& I’m in no way attempting to dilute or denigrate the original method – it’s simply an opinion).
The concept & structure is all about ‘top down’ directional momentum & locating an appropriate level in which to engage the flow.
When you’re done familiarizing yourself with the finer points of this model & you’re looking for complimentary material to run the rule over, try taking a leisurely stroll through this stuff 301 Moved Permanently
You won’t be sorry.
The core group of 5 or 6 posters on those threads know their way around the spot market like the back of their hands & the info in there will dovetail nicely with the 3 ducks concept.
Anyhow, enjoy it & good luck man.
The 3 Duck’s Trading System is very straight forward and easy to use . The 3 Duck’s Trading System will be more creative when prices are moving in one track and not stuck in a stretched trading range.
I’ll keep on eye on this one, thanks ^^
Greetings Duck Hunters,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
Eur.Usd – a little bit 50/50 recently but I would prefer to be looking for buying opportunities if/when my 3 ducks line up. A break and hold below 1.4020 would get me bearish
Gbp.Usd – 50/50 at the moment so I’m on the sidelines with this pair for the moment until I see what it wants to do
Eur.Gbp – same as last week, Eur is still stronger than the Gbp at the moment so I would be looking for buying opportunities when my 3 ducks line up
Usd.Chf – above 0.9250 would get me bullish and looking for buying opportunities when my 3 ducks line up
Aud.Usd – I would be looking for buying opportunities when my 3 ducks line up
Usd.Cad – I would be looking for selling opportunities when my 3 ducks line up
Usd.Jpy – I would be looking for buying opportunities when my 3 ducks line up
Eur.Jpy - I would be looking for buying opportunities when my 3 ducks line up
[B][I]
Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
[B][I]Andy.[/I][/B]
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
I think your system helps in trading with the trend which provide momentum and avoiding many loss trade. But i think you have to do something with your entry and exit to get and bag more Pips home.
captain currency
do u use any supportive tools ?
and ur exit points is really not clear like today the 3 ducks lined up for euro usd i bought and it went up like 11 pips and i said to wait but after that it went back 30 pips and hit the stop loss
s if u can give me an idea about ur take profit and if there is time frame u expect the tp will hit
ex: u made hp 25 pips and after like 5 hours it is still going up and down around 7-9 pips profit
so do u keep it , or do u think ur idea didnt work perfectly and exit?
thanks in advance
[B][U]Great Guidlines, Not To Be Automated.[/U][/B]
The 3 Duck’s Trading System is a bit like the SatNav in a car.
The SatNav in my car tells me which direction to drive in, it does not control or drive the car for me, I do that bit.
The 3 Duck’s Trading System is a great set of guidelines to help you trade in the direction of trends and buy and sell at levels that confirm strength. The trader always needs to us their discretion and you should never attempt to automate this method, that is not it’s purpose. Just the same way as you would never let your SatNav drive your car for you.
Greeting Duck Hunters,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
Eur.Usd – a little bit 50/50 recently but I would prefer to be looking for buying opportunities when my 3 ducks line up. A break and hold below 1.4300 is needed
Gbp.Usd – 50/50 at the moment so I’m on the sidelines with this pair for the moment until I see what it wants to do
Eur.Gbp – I’m still bullish on this pair so I would be looking for buying opportunities when my 3 ducks line up. All bets are off if it gets below 0.8713
Usd.Chf – Cautious at the moment, above 0.9300 would get me bullish and looking for buying opportunities when my 3 ducks line up. Below 0.9125 would get me bearish and looking for selling opportunities when my 3 ducks line up
Aud.Usd – Very straight forward, I would be looking for buying opportunities when my 3 ducks line up
Usd.Cad – I would be looking for selling opportunities when my 3 ducks line up
Usd.Jpy – I would be looking for buying opportunities when my 3 ducks line up
Eur.Jpy - I would be looking for buying opportunities when my 3 ducks line up
[B][I]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
Andy.
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
A very good morning Duck Hunters,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
[B]Eur.Usd[/B] – I would be looking for buying opportunities when my 3 ducks line up
[B]Gbp.Usd[/B] – The GBP has had a hard few days recently but I would still prefer to be buying this pair if/when my 3 ducks line up. A break and hold of 1.6330 is needed
[B]
Eur.Gbp[/B] – The Eur is taking full advantage of the GBP weakness so I would be looking for buying opportunities when my 3 ducks line up
[B]Usd.Chf[/B] – I would be looking for selling opportunities when my 3 ducks line up
[B]Aud.Usd[/B] – I would be looking for buying opportunities when my 3 ducks line up
[B]Usd.Cad[/B] – I would be looking for selling opportunities when my 3 ducks line up. A break and hold above 0.9660 would get me neutral on this pair
[B]Usd.Jpy[/B] – It needs to get back above 84.40 to get me interested in buying opportunities when my 3 ducks line up. A break and hold below 83.44 would have me on the sidelines
[B]
Eur.Jpy[/B] - I would be looking for buying opportunities when my 3 ducks line up
[B][I]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
Andy
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
Good morning Duck Hunters,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
[B]Eur.Usd[/B] – A break and hold above 1.4400 and I would be looking for buying opportunities when my 3 ducks line up
[B]Gbp.Usd[/B] – Has been in an up trend but going a bit sideways lately. A break and hold above 1.6385 and I would be looking for buying opportunities when my 3 ducks line up
[B]Eur.Gbp[/B] – A break and hold above 0.8850 would get me bullish again and looking for buying opportunities if/when my 3 ducks line up
[B]Usd.Chf[/B] – Same as last week, I would be looking for selling opportunities when my 3 ducks line up
[B]Aud.Usd[/B] – Same as last week, I would be looking for buying opportunities when my 3 ducks line up
[B]Usd.Cad[/B] – I would be looking for selling opportunities when my 3 ducks line up.
[B]Usd.Jpy[/B] – Bears seem to have a bit more control lately and I would be looking for selling opportunities when my 3 ducks line up
[B]Eur.Jpy[/B] – Bears need to get the price back below 118.00, if they do I would be looking for selling opportunities when my 3 ducks line up
[B][I]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
[B][I]Andy[/I][/B]
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
Hello Duck Hunters,
[B][I]
Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
[B]Eur.Usd[/B] – I would be looking for buying opportunities when my 3 ducks line up
[B]Gbp.Usd[/B] – Gbp is not the strongest currency out there at the moment but I would prefer to be looking for buying opportunities if/when my 3 ducks line up
[B]Eur.Gbp[/B] – Eur is stronger than Gbp and I would be looking for buying opportunities when my 3 ducks line up
[B]Usd.Chf[/B] – Nice solid 240 min down trend for the last few weeks and I would be looking for selling opportunities when my 3 ducks line up
[B]Aud.Usd[/B] – Needs to get above 1.0930 and I would be looking for buying opportunities when my 3 ducks line up. A move lower and close below 1.0775 would get me neutral
[B]Usd.Cad[/B] – A bit 50/50 at the moment and I don’t gamble. I would not be looking to trade this pair for the moment
[B]Usd.Jpy[/B] – Bears still holding the control and I would be looking for selling opportunities when my 3 ducks line up
[B]Eur.Jpy[/B] – No trade at the moment, this currency pair needs to get above 121.15 to get me bullish and looking for buying opportunities when my 3 ducks line up. Or a close below 119.18 would get me bearish and looking for selling opportunities when my 3 ducks line up
[B][I]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
[B][I]Andy[/I][/B]
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.
Hello all,
[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Trading System;[/I][/B]
[B]Eur.Usd[/B] – A big sell off from last week and at the moment I would be looking for selling opportunities when my 3 ducks line up
[B]Gbp.Usd[/B] – Price would need to break and hold below 1.6344 to get me interested in looking for selling opportunities when my 3 ducks line up
[B]Eur.Gbp[/B] – Gbp is stronger than Eur at the moment and I would be looking for selling opportunities when my 3 ducks line up
[B]Usd.Chf[/B] – 50/50 for the moment, a break and hold above 0.8825 would get me bullish and looking for the buying opportunities when my 3 ducks line up. A break and hold below 0.8700 would get me bearish again and looking for selling opportunities when my 3 ducks line up
[B]Aud.Usd[/B] – Bulls look like they want control again and I would be looking for buying opportunities when my 3 ducks line up
[B]Usd.Cad[/B] – A bit 50/50 at the moment
[B]Usd.Jpy[/B] – A bit of a bull and bear fight happening at the moment. I would prefer to be looking for the selling opportunities when my 3 ducks line up, a break and hold below 80.50 would be good for bears
[B]Eur.Jpy[/B] – I said last week “a close below 119.18 would get me bearish and looking for selling opportunities when my 3 ducks line up”. We are currently at 116.30 and I would be looking for the selling opportunities when my 3 ducks line up
[B][I]Hope that helps you, Keep it Simple, Keep it Logical, Keep Control, Keep Focus![/I][/B]
Best wishes,
[B][I]Andy[/I][/B]
These are not trade recommendations. The 3 Duck’s Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.