You are right Thalia and volan and others…
Good days.
I was the one who originally asked the question about using fabo. lines. I regret ever asking the question, all I wanted to do was have a little more assurance I was entering the trade at the right time. I understand and love the simple 3 Ducks System and again NEVER tried to alter it! Just wanted to add this one element.
On the 5min chart I do look from the right hand side like the e-book suggest, I am still a little shaky on which price to use for entry. I thought this was a forum to help newbies & learn from the more seasoned 3 Ducks traders.
Our thread is clogged up w/this over one question. Lets get back to trade/3 Ducks progress because thats why I read this thread. This is ridiculous…
There is no such thing as added assurance D37.
No amount of extra confirmation will increase the potential odds of a successful entry or exit.
When the price flow is exhibiting a trending momentum on both the 4 & 1 hour charts (higher highs & higher lows moving up, opposite for down) & price is trading above the 60sma, that is the prompt to observe your 5 minute chart & wait for a break of the most recent high (or low) to get in.
There really is no simpler way of explaining it.
You’re seeking momentum.
That’s what drives price through the most recent swing high or low on the 5 minute chart.
If the momentum is attracting support it will continue to swing up or down until it runs out of steam.
If the momentum isn’t attracting support after you enter, it will splutter & die.
The multi-timeframe sequence is simply a logical, common sense prompter to offer you a heads up.
Sometimes it will obey that cycle & tip a nice winning bet into your account & sometimes it won’t.
Fibs won’t make the slightest difference to the entry or outcome.
They are nothing better than useless.
When the cycle engages & you get the green light to hit the entry button you stick your stop behind the most recent swing level on whichever timeframe you prefer & you buckle up.
The outcome is down to whoever pushes the hardest & keeps pushing.
When you’re lucky enough to be on the winning side you have the choice of when to liquidate.
When you’re on the losing side your stop loss will hopefully take you out safely with minimal damage.
salty & medisoft have submitted many recent examples that clearly highlight the stages of the entry & exit process.
volan has submitted 2 recent charts on other threads clearly highlighting the exact same process. The best way to satisfy yourself that all is well with your understanding is to bite the bullet, submit a chart & ask whether you’re interpreting it correctly.
You’ve got one or two pairs setting up potential entries next week, namely AUD/NZD, GBP/USD, EUR/GBP, GBP/NZD & NZD/JPY.
Put them on the front burner & as one or more of them comes into closer view have a go at determining where you would place your entry on a potential ‘set & forget’ 1 hour entry & where you would look to execute on an intraday 5 minute chart via a break of the recent high/low on that particular timeframe.
If in doubt either refer to Andy’s very detailed entry explanation or peruse the most recent chart examples – the answers to your questions are right here in the original template.
No need to veer off on a tangent & add unnecessary layers of irrelevant confirmation.
Hi odds on.
Just wondered why EUR/USD wasn’t on your list of possibles for next week?
And why EUR/GBP is on it as the 4hr & 1hr charts seem flat?
Just trying to get to grips with this system.
Cheers.
They were simply suggestions based on a very quick manual scan through the various individual countries pair offerings Wayne.
Even in the absence of a software scanner that exercise literally takes a few minutes to filter out & flag up any potential high probability candidates from a large selection of fx instruments.
If you prefer to swap one for another or spot something else that takes your fancy, then that’s fine.
There will be times of course when that exercise fails to flag up anything of merit, even with a large selection available.
Those are the occasions that will really test your (discipline) mettle.
This looks fantastic but I am struggling to get it to run on a Linux box, have tried Mono and Wine, do you have any plans or inclination to support running on Linux boxes?
Has anyone else had any success on Linux boxes and can offer a path to execute?
Not wishing to take the thread off-topic, but on the subject of scanners, do you use one odds on?
volan and other scanner seekers,
Here’s a simple scan method I shared on a post back in June 2012. It still seems to be working well for me.
The thick yellow line is the 60 moving average the thin is the 15 moving average on 4-hour charts
Use metatrader 4 with wine. It works nearly perfect
I do volan, but it was developed to alert me to 3 very specific technical set ups related to stocks & indices, which still accounts for 75% of its workload.
It was only a few years ago that I included fx, having tested out a couple of recurring set ups, again related to very specific plays (not 3 ducks related in case you’re wondering).
And to pre-empt the next question, no it’s not available for public consumption.
Not at any price 
That looks an efficient, well organized board d-pip.
Nothing like keeping it simple huh!
I noticed sweetpip also has a strength meter which she uses to filter higher probability candidates.
Anything like that which helps to establish a boost to the game plan can only be a positive addition.
There you go Wayne, another well drilled example for you to peruse.
There’s plenty of excellent material contained within the pages if you take the time to browse carefully.
Hi Medioft, I currently do use MT4 with wine without a problem, it is the alert system that I can’t get running.
I basically want the alerts because I can’t sit and scan charts all day whilst in work,
If I could get alerts then I can look at the pertinent pair and setup orders.
Actually, while we’re discussing the alert system - I’m having a few problems using it too - I’ve installed it but don’t really know where to access it from (within MT4). Could someone point me in the right direction please?
Once you have it installed, open up a chart (any will do). This will be the window with your alerts. The installation folder also had a template 3Ducks. Just apply this template to your chart and everything should be up and going.
Hi behroz,
your risk is greater than your profit. In the long run that’s not good. Unless you can always sit in front of the screen and monitor your trade.
salty
Hi salty : Thank you for your comment and suggestion. You are right and i accept it but i choice my entries from a way that i don,t will say it here.
If you have suggestion for R:R ratio say it and i will practice on it.
My Trades for today :
Euro pairs don,t have any situation for today.
Gbp pairs total +35 pips for today.
Have a good days.
Hi medisoft,
I love that you are using MyFXBook to trial the 3 ducks out and I see you have had some great results so far. It seems your trading has now going quiet? Are you still trialling it? Or have you started a new account?
Kind Regards,
Dan
Have you got a link? I would be interested in checking it out.
Dan
I believe that medisoft has a trading journal you can check out.