A great way to put some color in this monotone business of currency trading!
Its good to see this thread is still alive. Motivated me to try this strategy… Are the rules still same or anthing changed so far?
Hey Andy. Good job on the AudUsd analysis! I think I trade very similar to your method, but I use price action candles like pins and engulfing bars in relation to major s/r and fibo levels to decide when to enter and exit. I don’t use any other indicators what so ever, but I was thinking maybe to add the 200 SMA again just to improve my perspective a little more…I’ll go and read first few pages of this thread now to get the general idea.
cheers
Nice, last night I made an indicator for your system. Still working on it and so far it looks like this:
Hi guys, just wondering if 3 ducks work better at the beginning of the trend or when the trend is mature? anyone has any statistics to share? 
You’re asking a very subjective question.
Each persons interpretation & definition of what constitutes an initial or mature trend is going be different.
3 ducks is simply a vehicle to get you in & out of price moves that meet the criteria of the method.
Nobody knows if the initial or existing trend (as defined by the entry criteria) is about to fizzle out or push on for another 5, 6 or 700 pips.
If the price action meets the entry rules & you can justify the risk then take the trade.
When it’s time for the trend to temporarily or permanently exhaust, your trailing or exit stop will take you safely out of the position.
You can then re-assess the potential for further involvement with that pair or avert your attention elsewhere.
Good Question since77!
Great answer laine !!!
It is a great answer, especially the highlighted bits below.
And to emphasize his point about playing the set up as it appears instead of thinking too much about what might happen, just pull up charts of the Australian Dollar & scroll to aud/usd, gbp/aud, eur/aud & aud/cad.
How many occasions over the past 6-8 weeks has price broken back through the 4 hour 60sma & exhibited classic reversal behavior against those hourly trends?
I’ll tell you shall I……not once.
So if there’s no valid fundamental or technical reason to switch sides just keep selling into rallies or buying into dips using the 60sma as your guide until the hourlies begin printing counter trend price action & violate at least the 4 hour average.
If you pay enough attention to what the price action is doing when it does begin exhausting/reversing you’ll notice that in the majority of cases counter trend stair-step activity (higher highs-higher lows & vice versa) tends to begin gaining a foothold as price violates the 4 hour sma & then uses it as a shadow in the opposite direction.
Exactly! A brilliant bit of trading wisdom there from odds on. Print that quote off and keep it beside your trading monitor.
Reminds me of this short video: “Will FEAR Ruin My Trading?”
Thanks guys. Excellent info for reference.
We’ll start off with a quote Duck Hunters,
“You don’t really have a trading strategy until you know what you’re not going to do, then you do have a strategy”
Next week’s strategy (and it could be your too) is to sit it out, let all the news come and go and then see what the market looks like.
Here’s What I Mean …
Aud.Usd sentiment is bearish at the moment (4hr Trend is Down). On Tue, 4th of June, an Interest Rate Statement for Australia will be released. And on Fri, 7th of June, any negative number from the US Non-Farm Employment Figures will be bad news for the US Dollar. This could turn the overall sentiment from bearish to neutral (no clear direction on the 4hr chart) for the Aud.Usd pair.
Interest Rate Statements are also out for the Eurozone and the UK this Thur 6th June. Likewise, sentiment / direction of the 4hr trend could easily change after these event.
Not Going To Do …
If you’re a 3 Ducks Trend Trader it’s probably best not to take trading opportunities next week.
Sit back and have a coffee until all these bits of news have finished. Then you could go back to the market and look for decent trending pairs to apply your 3 Ducks onto.
Enjoy the weekend,
Andy,
Captain Currency.
Hi Captain C!
I dropped you a message with my mail address but I suppose it would have gotten missed considering the number of requests you might be getting for your ebook Would greatly appreciate it if you could have it mailed to me as I want to experience your 3 ducks trading strategy for myself.
Thanks in advance!
Zz
Howdy Hishamzz,
I don’t always see those pm’s or visitors messages …
Your free copy of The 3 Ducks Trading System eBook has just been blasted over to you.
Print it off and read it at bedtime!
Chat soon,
[B]Andy,
Captain Currency.[/B]
Hope you’re good Duck Hunters,
Next Week Aud.Usd will still make it on to my watchlist but … so will Gbp.Usd and its 115 pip average daily variation, here’s why:
Gbp.Usd
The Gbp.Usd trend is UP and your Ducks only favor longs (buys) at the moment when they all line up in the same direction.
Profit Targets
Bulls will be trying to break the 1.5700 area and above next week.
Stop-Loss for Intraday 3 Ducks Traders
Intraday stop-losses could be fixed or placed below hourly support.
Stop-Losses for Swing & Positional 3 Ducks Traders
Swing and positional traders may prefer to have their stop-loss below the 1.5487 or the previous resistance area at 1.5375 on the 4 hour chart.
PS
All Bullish interest is gone for me if we get a break and hold below the 1.5375 area next week.
Happy Hunting!
Andy,
Captain Currency.
These are not trade recommendations. The 3 Ducks Trading System is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas. I do not accept liability for any loss or damage, including without limitation to any loss of profit which may arise directly or indirectly from use or reliance on such information.
Hi Andy,
I’ve just come out of the ‘School of Pipsology’ after being a long term buy and hold investor wanting to make the switch to day trader. Before attempting to develop my own system I want to study other successful systems and understand common themes in the originators thinking that will act as principles for me. I’ve just come across your 3 ducks system and love its simplicity. I’ve downloaded your ebook, but just wanted to say thanks for sharing - I’m sure I’ll be back with some questions in time. Muchos gracis!!!
I’ve said it a few times … the most important part of any system is the trader, you’ll probably find the common themes of successful systems will be the trader trading them.
i’ve just come across your 3 ducks system and love its simplicity.
Life and Trading … keep them both simple and good things happen.
I’ve downloaded your ebook, but just wanted to say thanks for sharing
Always nice to see an attitude of gratitude online, you’re most welcome matthgm.
[B]Andy,
Captain Currency.[/B]