The 3 Duck's Trading System

I just wanted to say thanks for posting this system and for all the subsequent posts and videos. I’m new to forex trading and have been paper trading this, as best I can, since the end of January. Right now I’m up 238 pips, even with early mistakes where I was clearly not following the process very well.

You’re very welcome Shojin, best wishes on your Forex journey!

[B]Andy
Captain Currency [/B]

Hello Duck Hunting fans.

I made a trade on the AUD/JPY on 2.18 - and it really wasn’t going positive for most of the day. . I decided or thought that all the ducks were still lined up - so I left the trade open - -and well it is still open as of the time I wrote this message.

I do have a very tight stoploss and takeprofit on it right now- and if neither are hit soon I will be closing it out.

Edited : my entry point was 81.26

I presume that was a short trade you made on 2/18 and that now you’ve hit your TP.

absolutely Shojin - I gained 90 pips on the trade. It worked just like the captian says. . . . and I never thought I would like the set and forget approach. … …however I do believe this is a pretty important part now.

And - I am beginning to like it too. it frees up time and takes stress off.

Agreed. I’m new to forex, only a few months in, but this system is suiting me right now more than any other I’ve tried. Probably because it’s not mechanical, so you can adapt it to your own trading style, timezone, etc. I’m currently learning how to balance between set-and-forget and over-managing trades.

One thing I am sure of is that doing fewer trades whilst you’re still new to it is a better idea than placing many trades.

I think you’ll find - whether new or not - doing fewer trades is most certainly the way to go with this approach.
I cannot say that for other idea’s = but about 2 weeks ago I told myself - shoot for 1 good/winning trade per trending pair per week. (just a place to start gauging from) 1 good trade will get you positive so why lose it on another trade :slight_smile:

I have a nooby-dooby question about spreads vs. commission, in relation to this type of trading system.

I’ve been using the 3 Ducks for two months now, paper trading. I’m hoping to start live trading within the next month or two. I’m wondering whether it’s best to stick with thinkorswim, where I have been paper trading, or switch to an ECN like Interactive Brokers that has very tight spreads, but charges commission.

For example, I did a paper trade with IB yesterday, made 24 pips and paid $5 in commission. Had I done the same trade on ToS I would have made the same 24 pips and paid no commission. The price would have had to move a bit further to trigger the TP, but for the way I’m trading this system, maybe five trades a week maximum, does it really matter?

I don’t know. My brain is in a knot with this. It should be obvious, but I’m overlooking something fundamental.

The spreads shown on demo are not the same as the spreads you get live

Greetings Duck Hunters,

[B]Just a thought,[/B] on a risk v reward basis I’d prefer a short position on Eur.Usd leading up to the ECB meeting. Why, I always think the Euro gets nervous when the ECB are due to make an announcement, there will be an ECB meeting this Thursday coming (10th).

[B]Technically[/B] it also looks like our First Duck (4hr chart) would favour the selling set-ups on the Eur.Usd pair. For me I think a breakout below the 1.0940 area could see more sellers coming in and pushing price lower, targeting the 1.0880 area and possibly even lower.

Eur.Usd could be one pair for your shortlist, good trading for the week ahead guys,

[B]Andy
Captain Currency[/B]

It might drop on EuroGroup meeting today, but currently EUR/USD seems moving up. Since morning it is checking weekly pivot point at 1.0950

You could be spot-on Tradernove, should be an interesting 48 hours for Euro pairs, dying to see which direction they’ll be swinging in after the ECB on Thur.

Good trading for the rest of the week,

[B]Andy
Captain Currency[/B]

Hi Andy,

i am still using your system profitably on demo. I would like to ask if you use it only on major pairs or on minor crosses too like gbpchf and so on.

Thank you

Hi captain! can you please give me link for your trading system.Thanks

C’mon, guys — Do some reading in this thread…

…before you ask questions that have been [I]asked and answered many times already![/I]

Once again —

• Which pairs does Andy trade? — 301 Moved Permanently

• How do you get Andy’s free ebook? — 301 Moved Permanently

.

Oodles of pullbacks over the last 24 hours Duck Hunters, no doubt the upcoming interest rate statements out of the US and UK are messing-up our 4hr trends …

[B]Every cloud has a silver lining, [/B]I’d love to see a resumption of bullish price action on the Eur.Usd over the next few trading sessions, a break and hold above the 1.1135 area of hourly resistance would make me happy!

Chat soon,

[B]Andy
Captain Currency[/B]

A quick Happy St. Patrick’s day from Dublin Duck Hunters.

[B]Andy
Captain Currency[/B]

Beannachtai na feile Padraic as Gaillimh Andy.

Happy St. Patricks day from Galway, Ireland to you all :slight_smile:

Even babypips is getting in on this green theme :wink:

Happy Thursday,

Padraic

Morning Duck Hunters,

At a quick glance this Monday morning, it looks like our First Duck (H4) has a:

[B]BULLISH BIAS for these pairs:[/B]
Eur.Usd
Gbp.Usd
Aud.Usd
Eur.Jpy
Eur.Gbp

[B]BEARISH BIAS for these pairs:[/B]
Usd.Cad
Usd.Jpy
Usd.Chf

Good trading for the week ahead guys,

[B]Andy
Captain Currency[/B]

I’m keeping my eye on the usd/cad for ‘today/tomorrow’