You’ll see Robopip didn’t back test the 3-ducks as presented on this thread. Instead Robopip back tested a method based on the 3-ducks using the [B]15m[/B] instead of the [B]5m[/B] and the fix 3[B]0 pip TP S[/B]L, with a risk reward of only 1:1. :56:
In spite of having a fixed and crappy 1:1 risk to reward ratio, Bobopip’s back test still showed a 7.4% gain in approximately eight weeks, IMO better than a stick in the eye!
PS track 6-8 of the popular pairs, commit to demo trading them using the 3-ducks for at least 4 months, then you might start to understand why this thread has been alive and active since 09/07, a bit over 5 years!
Unless you’re using a spread free account then it actually comes to 2.2% in those 8 weeks, and that’s with a 2 pip spread not 3, so negative results if you have a 3 pip spread.
Why exactly did you come in to this thread? People are answering your questions and trying to help and all you can do is site an automated and MODIFIED version of this system that has fixed SL and TPs that have nothing to do with what has been suggested here, despite being repeatedly told that the 3 ducks is a framework not a fixed strategy. Sorry no one can hand you the holy grail on a plate with specific instructions so you can get rich overnight but im sure of you keep on jumping in threads and doing what you are doing here you will find it eventually.
I dont even use this system but understand its value and can clearly see the the regular posters and Andy are genuine and helpful people. People who come in and start throwing their weight around should just be banned imo.
Obviously you’ll have a get out clause written into your plan for this one, & I hope it springs back for you but if it looks like printing a lower hourly high off this 1.02 round number you might want to keep a close eye on it.
I’ll offer a suggestion for future entry prep consideration DaTrader. If it makes sense go with it, if not discard it.
That entry up there was taken right at the top end of it’s average (1 month) day’s range.
It’s rare prices over-extend their range boundaries outside of skewed data output or one-off market drivers prior to consolidating or blowing off a little froth.
[B]Question for all on this thread[/B]
What pairs have you been recently watching for 3 Duck set-ups? I’m curious to see what pairs traders are watching - I might be missing some moves …
[B]Ducks with Muscles[/B]
The Euro is flexing a bit of muscle against its neighbor the GBP and also the Japanese Yen JPY, so no suprises that your 3 Ducks favor longs (buys) on these pairs.
Eur.Usd I would be fairly neutral on at the moment.
[B]Don’t Forget[/B]
Mind your open positions this Wednesday, USA Interest Rate Statement – FOMC Statment. More “Hawkish” than expected = Good for currency.
[U]Hawkish[/U] = Committee Members voting to increase rates.
[B]FEAR is not just Halloween[/B]
F E A R is probably the most dominant and most destructive emotion when you or I are trading. Fear is the reason we jump out of our winning trades way too soon. Fear also stops us from entering good trade set - ups too.
When we trade with fear we bring tonnes of doubt into our trading, which leads us to over analysis our charts. We really make our trading way more difficult when emotions are at play, I would say FEAR is the Number 1 Killer for Traders.
[B]Short Video[/B]
If you are like me and prefer to see it rather than reading about it, you can now watch this really quick video (2m 13sec) Will FEAR Ruin My Trading?
[B]Tell me what to do[/B]
How do I manage this influential emotion? after all we are only human and there is no delete button on our emotions. As a trader I always believe that my behaviour or actions play an important role in controlling my emotions.
[B]Set and Forget[/B]
The reason I use a Set and Forget approach with my 3 Ducks Trading is so I can try and behave in a certain way that allows me to [U]emotionally detach[/U] from my trades. Once I set up my pending orders in the market I will leave them alone for a full 24 hour cycle, I don’t screen watch. This behaviour or action allows me to detach and the bonus is that it also lets my trades develop into bigger winners.
[B]Small changes, Big differences[/B]
If you try something like this, what you will notice is some of your best trades and some of your best trading months will be when you detached yourself from your charts, rather than screen watching and jumping out of winning trades way too soon.
