I have been reading and following this thread for about a week. This is my first post. Read and loved the 3 Ducks e-book and system. Wanted to post my first solid trade results of usd/jpy (long).
I’m unsure how to stay in trades using trailing stops and all that, so I re-entered the trade using the previous high as new entry. I had a 51.7 pip result so I’m happy
p.s- any hints you can give a newbie are appreciated.
that depends on your trading horizon. If you are intraday trading you can use a previous higher low on 5 minutes. If you are a swing or position trader, you can use a previous higher low on 1h or 4h or maybe 1 day time frame.
And move your stop when a new higher low is finished.
hi medi, just curious why you use higher low for reentry? to enter a second order, wouldnt a stop order at previous high be better?
I do not re-entry on lows… I just [B]trail my stops to new higher low[/B]s (on uptrend). If I get stopped out, then I start it all again, looking for a signal to entry, like a new trade. I do not re-entry any of my trades. If the trade stopped me out, then I consider it a failed trade, and I require that all the signals align again.
And yes, to add to winners I use all the signals as if they were the first trade. But I only add to winners when I have locked profit on all the previous trades on that pair.
thanks for the clarification medi. im in usdchf long today.
Hi 3 Duck,s traders. Today seem is good for our hunting.
It ,s not necessary that i put my trades and entries and trades situations beacuse it is clear that guys do it good.
But good situations for today are these in my List pairs :
1 : Eur/Jpy Long t.p hitted
2 : Gbp/Jpy Long ( waiting…)
3 : Gbp/usd Short t.p hitted . re-entry ( waiting…)
4 : Gbp/chf Short t.p hitted . re-entry ( In profit…)
5 : Usd/jpy Long (waiting…)
6 : Chf/jpy Long t.p hitted.
7 : Aud/usd Long (waiting…)
Good Luck Traders.
I’m doing something like you. I had various (lots!) of trades that were on profit, up to +130 pips and then retraced to the stop loss or break even. So on my short term trades I’m going to look for 1:1.1 or something like that.
Today situations trade and results :
Eur/Usd Non
Gbp/usd t.p hitted Short +50 pips
Gbp/chf t.p hitted short +50 pips
Usd/jpy t.p hitted +20 pips
behroz - do you enter on the 5M TF or go back to the 1H or 4H? Also, from your charts you posted it appears you follow a trade on the 5M, correct?
Hey dobro. Yeah we enter on m5 time frame but our main trend are in H4 & H1 time frames. It means that you should search for short if your price is under 50 sma in H4 & H1 and if it is you put your short in M5 time frame. In M5 time frame we look for Low,s to enter or put our shorts. And for Long,s it is look like shorts too.
Any other question Mr.?
Simple explain : An example for Long :
1 : H4 . If price is above 60 sma ( First Ducks) so go to next …
2 : H1 . If price is above 60 sma ( Second Ducks) so go to next …
3 : M5 . If price is above 60 sma ( Third Ducks) so search for best Highs or best Price for enter .( This part relate to your trade ability ) such as S & L Lines or fibonacci and many others…
And for short Just clean above words and place under:D
I’m really loving the 3 Ducks system! Another good day of trading:
gbp/nzd (short) +25.7
nzd/usd (long) +15.6
If you stick to the system and follow the rules you’ll get results. Nothing is guaranteed I know but as I continue to learn proper entry & exit points I think this will be a great system for me!
Thanks behroz - I know how the strategy works but I wanted to make sure that you are using the 5M for entry & exit. I remember reading that a couple of the others enter on the 5M but go up to the 1H to follow the trade, more pips I guess. d.
You are right Mr dobro. we can use H1 for enter and exit too. I will do it. In up time frames we have less noise in market and we can choice our enter and exit better and easier.
Thank you
Hey guys. where are you.? This thread should not go to sleep. why.? see below picture and you will understand why.
This is for whom people have a different look at chart and do trade best and want trade with fibonacci.
Do it & enjoy it guys.
please attention this post do not suggest you that use enter and exit look like me i want just show whom people look like Mr dobro that are searching for enter and exit zones.
Good day. Good pips.
Thanks behroz - I will see if Fib. work for me.
I am interested in exploring your entry/exit points using fibonacci. What settings do you use for these?? I am educating myself on this but would like to use your settings as a source of reference…
I’m just reading over the first few posts here as it looks like an interesting framework.
Do you recommend reading the whole thread before I start trading or just the first few pages?
Before the freshness of this excellent price action based approach is swamped & drowned in a sea of unnecessary indicators & add-ons, can I please suggest that those of you who find the need to bolt on these irrelevant tools open [B]your own personal journals[/B] (as medisoft has done) & discuss these additions to your analysis & trade management there.
This thread has honored the original clean format since it began on here & I for one do not want to see it go the way of most other newbie threads where indicator after indicator is loaded onto the template in the vain attempt to “improve it”
It doesn’t need improving
The trade management aspect doesn’t require refining
The core structure, the target zones & the trade management format are perfectly adequate & very clearly explained within the content, the e-book & the various video snippets.
If individuals wish to experiment with their own styles, additional management tools or indicator aids, then feel free to do so in [U]your own 3 Ducks journal thread[/U], but please don’t send this excellent thread down a road it doesn’t need to take.
Thank you.
