The 3 Duck's Trading System

Captain_Currency · November 30, 2012, 10:57am

Keep up the good trading Medisoft, sounds like you are making progress.

I would prefer to trade the strongest one. How you can identify the stronger one is by looking for clues in the market
(see the link below).

Thanks D-PIP for your input Buddy and ever other Duck Hunter who helps out.

[B]Andy
Captain Currency[/B]

GreekWay · December 2, 2012, 7:48am

Is anyone here that uses the Ducks system with a spread betting company?

apfrezza · December 4, 2012, 2:03am

This system is one of the few that gave me some satisfaction.
However I’m not sure about one thing. Is it better to enter in the trade when 1hr and 4hr are lined up since a long time or when they just line up?

d-pip · December 4, 2012, 11:35am

apfrezza,

I’m not sure I understand your question, I think there might be something lost in translation, but I’ll try to point you in the right direction.

The best time to trade this method is when there is a clear and obvious strong trend on the 4-hour chart.

Some trading methods use a moving average cross attempting to pick tops and bottoms, catching new trends as early as possible.

IMO the 3-ducks method is not about picking tops or bottoms and catching new early trends. It is a method for identifying a clear and obvious trend and then trading in line with that confirmed obvious trend. Hope that helps! :44:

medisoft · December 4, 2012, 7:56pm

I have problems to identify an obvious trend early hehehehe, I’m able only to identify it when it were runing some time, and when I identify it, frequently it is too late

medisoft · December 4, 2012, 10:21pm

Thanks I just started checking this conditions. I think that 2:30 is about 15º and 3:30 is about -15º

On the correlated side of my question, so if I trade AUDUSD and NZDUSD I should also check AUDNZD to see which one is stronger (if I want to buy) and which one is weaker (if I want to sell)?

Let say that I have a basket of 8 pairs, EURUSD, GBPUSD, AUDUSD, NZDUSD and the JPY pairs like EURJPY, GBPJPY, AUDJPY and NZDJPY.

Now I look for a long on EUR or GBP and a short on AUD or NZD.

I then should check which one is stronger with EUR/GBP and also which currency is weaker USD/JPY for the long.

For the short I should check AUD/NZD to see which one is weaker and then also check USD/JPY to see which one is stronger.

Then I can choose one of the EURUSD,GBPUSD,EURJPY,GBPJPY pairs to long and one of the AUDUSD,NZDUSD,AUDJPY,NZDJPY to short.

Am I right?

d-pip:

medisoft,

I’ll try to give you my 2 cents based on my experience with the ducks. When I’m looking for good 3-duck set-ups I pay a lot of attention to the angle of the 60 period moving average on the 4-hour chart.

I’m looking for the 4-hour 60 ma to be pointing toward 2:30 on the clock face or higher for an up trend and 3:30 or lower for a downtrend. If the 4-hour 60 ma is running flat, I’ll move on and try to find a pair showing a stronger trend.

When the 4-hour and 1-hour 60 moving averages are running in the same direction it indicates a market condition, a strong confirmed trend moving with conviction. When the moving averages are running flat or get all twisted back-and-forth, it is indicating to us that the market is not moving with any conviction or strength in a confirm direction. Or the market is undergoing a trend change and it might be best for us to wait until it gives us clear signals as to which way the next strong trend will be heading.

For me the hardest part of trading this method is waiting for and only trading when the market conditions are the best. I get impatient, start fudging the 3-ducks rules, trade mediocre set-ups, loose money and end up needing to drown my sorrow with my new best friend, a king-size Narragansett Porter or two. :56:

Looks like you’re doing well with the ducks, continued good luck!

PS Also, here’s a link to an old 3-ducks post regarding your correlated pair question.

301 Moved Permanently

d-pip · December 5, 2012, 3:29am

medisoft:

Thanks I just started checking this conditions. I think that 2:30 is about 15º and 3:30 is about -15º

On the correlated side of my question, so if I trade AUDUSD and NZDUSD I should also check AUDNZD to see which one is stronger (if I want to buy) and which one is weaker (if I want to sell)?

Let say that I have a basket of 8 pairs, EURUSD, GBPUSD, AUDUSD, NZDUSD and the JPY pairs like EURJPY, GBPJPY, AUDJPY and NZDJPY.

Now I look for a long on EUR or GBP and a short on AUD or NZD.

I then should check which one is stronger with EUR/GBP and also which currency is weaker USD/JPY for the long.

For the short I should check AUD/NZD to see which one is weaker and then also check USD/JPY to see which one is stronger.

Then I can choose one of the EURUSD,GBPUSD,EURJPY,GBPJPY pairs to long and one of the AUDUSD,NZDUSD,AUDJPY,NZDJPY to short.

Am I right?

medisoft,

Yes it sounds like you’ve got the idea. Do your analysis make your best choices and roll the dice! :39:uack :39:uack :39:uack

ericpollard · December 5, 2012, 4:21pm

Good day, everybody.

I am looking at the 3 Ducks Method as my sole foundation for trading forex-I am reading through this thread with interest. I have three questions that I would be greatful if anybody could answer.

Is anybody using the 3 Ducks method/system as their SOLE mean of trading forex? I know CC says that 3 Ducks should be used as a guideline only, but would you say the 3 Ducks is used as the foundation of your training strategy?
Do you win more than you lose?
Do you use any extra indicators on MT4?

Thanks very much to anybody willing to take time to answer.

d-pip · December 6, 2012, 6:08am

Question # 1. Without going into mind numbing detail, the 3-ducks system is an important component of my trading, one of the big guns in my arsenal, but not the SOLE means.

Question # 2. Yes, looks like I’m ending 2012 with a small hard fought profit. First profitable year since starting this silly nonsense in 2009.

Question # 3. Yes, there are some indicators that I’m very familiar with and throw them in the mix, but I only use them as a crutch and they’re not necessary to successfully trade the ducks.

If it sounds like I’m avoiding going into the details of my trading method that’s because I am avoiding it. LOL I want keep this thread focused on Andy’s 3-ducks system and not derail it into a long winded discussion on the “d-pip method”.

I suggest you also check out a few other babypips threads that IMO seem to blend nicely with the ducks.

http://forums.babypips.com/free-forex-trading-systems/29902-technical-templates-continued.html

http://forums.babypips.com/newbie-island/39634-pure-price-action-dummies.html

thanks!

ericpollard · December 6, 2012, 7:34pm

Thanks for the reply, d-pip, and thanks for the links-exactly the kind of info I was after!

Best wishes

EP

GreekWay · December 7, 2012, 1:24pm

Has anyone used the 3 Ducks in any other market apart from currencies? For example commodities?

Captain_Currency · December 15, 2012, 6:04am

Captain_Currency · December 19, 2012, 9:38am

Duck Hunters,

Please tell me you’re cleaning up on the Euro.

[B]Andy
Captain Currency[/B]

DaTrader · December 19, 2012, 10:10am

I Got A Few Pips…

medisoft · December 19, 2012, 11:01am

Me too, from eurjpy.

o990l6mh · December 19, 2012, 11:32am

Yes, EURJPY is being nice to me as well.

medisoft · December 19, 2012, 2:04pm

BoJ is going to be forced to create inflation, that should make the yen weaker. That could cause XXX/JPY pairs to go up, isn’t it?

o990l6mh · December 19, 2012, 2:12pm

Indeed so.

Captain_Currency · December 20, 2012, 12:03pm

compact · December 20, 2012, 12:41pm

And a very merry Christmas to you too Captain Andy!
Year after year this little gem of a thread chugs along in the slow lane, contentedly purring along oblivious to all the bedlam & nonsense zipping past it.

One of the most under rated, yet newbie friendly threads on this whole forum.
Here’s to a quacking good 2013 to duck hunters new & old!!