seems to me the more time frames that say the same thing, the better the odds of the trade going your way.
And i like PSAR indicator as a confirmation.
What do you think ?
I like your simplicity.
I am looking for something that is simple, because that is what i read about that seems to work a lot.
I like using higer timeframes because i dont want to have to check trades all day long.
just once a day.
Oh Captain ,My Captain
Thanks so much for posting this one, read your posts here and at T2W
I cant believe how easy your system/guide is, maybe now I will live up to my name and make some moola for a change.
My trading has been going nowhere slowly(4 steps forward and 4 back) Cant wait for monday to feed some ducks and wait for them all to get in a little row:D
Many Many thanks:cool:
Richrichie
Wouldnt you think also that when All indicators are lined up in one direction across MTFs its about time for a reverse?
thats why i am just on demo to see what works.
Its nice that you can demo as much as you want and not lose any money and gain knowledge i hope.
Just have to keep trying until i get it right.
but then im wondering if it will all just turn the other way ?
I still have so much to learn.
J. - Whenever I read a post of yours or Tessās I think of the quote made by Charlotte Whitton, the former Mayor of Ottawa: āWhatever women do they must do twice as well as men to be thought half as good. Luckily this is not difficult.ā d
hahahahaha
Yes, Ms Whitton was well known for her raspish quips & comments. A quite brilliant academic she was too.
I like her rather caustic quote which she used several times in speeches, especially to those (men) who audibly attacked her in the popular press:
[I]āMan cannot live by (his) incompetance aloneā [/I]
She was also well quoted with the following, which I think is very relevant when discussing & considering the merits of trading:
[I]āItās how you deal with failure that determines how you eventually achieve successā [/I]
Thank you, more quotes to think about. d
I try to apply your trading system and put some additional rules :
- support resistance.
- no trade due to release of a big news.
And this is my own result test :
I must say, your system is very goodā¦and have a high accurate.
For now, I just use your system and Pallada EA in my real North Finance account and that all make my money growth at a faster pace.
Thank youā¦best regardsā¦
Hey, Captain. I like the sound of this system a lot and will paper trade it this week. Quick question though ā I trade through Oanda, and for whatever reason, they only have a 3-Hour chart (no 4-Hour). Is the 3-Hour chart a big enough trend timeframe, or should I use another charting software to see the first major duck trend on a 4hr? Thanks!
The captain hasnāt been on here for a while, but I would
say stick to the rules, it calls for a 4H chart, find a 4H chart.
Once you know the system then you can start to change it.
my advice is just stick with the original rulesā¦
you can use Meta Trader 4 to apply the rules, then enter the position on your Oanda platformā¦
Dear Captain,
Your system looks very simple and easier to read. I have a doubt on the entry. Say we are going long and all 3 ducks are lined up about 60 sma. My question is when to enter. I read the ebook it says enter when it breaks the LAST HIGH (on 5m chart). Does it mean the HIGH of the previous candle ? or we take last few candles in to account and look at the HIGHEST of the candle and enter long on the break of prices above it. I understand Captain is not around for a while. I would appreciate if any body in the forum could answer and clarify. Will be humbly grateful. May God bless you all in your trades !!!
Thanks,
Muthu,
Chennai India.
as I do until now in my tradeā¦when the 4H and 1H TF is lined up in a buy mode, then you will look the 5M TF.
When the price on 5M TF breaks the 60 SMA then wait until it breaks the LAST SWING HIGH (the last one that above the 50 SMA). CMIIW.
Dear mbah saru,
Thanks for the reply. I asssume you meant 60 SMA when you wrote 50. So I look for a last swing high (means scanning few candles prior to the current one) and when price breaks it go long ? My apologies i am not that good in short forms of writing. Wonder what CMIIW is. It will also be interesting to know how your trade results have been thus far. Any other inputs from other members is also most welcome.
Thanks once again dear friend.
Muthu.
All candles need to be opened above/below the 60sma for
a trade to qualify.
ie on GBP/USD today, the last candle to give a signal was
the 4H candle when it closed & re-opened above the 60sma
at 1600 GMT.
Sorry, what I mean is 60 SMA, not 50 SMAā¦
when it breaks the 60 SMA, we will wait for the confirmationā¦it is when it breaks the last swingā¦
this is an example from one of my trade in complete step (I always capture each of my trade step by step to be analyzed & reviewed later) :
Step 1 : entry rule (please notice that price in 4H is under the 60 SMA, sorry the 60 SMA is hidden in the back of price box)
Step 2 : goes onā¦
Step 3 : and so goes onā¦
And this is the last trading result (of mine) that use this system :
But for now, I want to retest again in demo account (and also in my LIVE account North Finance) with the risk reward ration 1 : 1.5 just as Andy suggested. And I think it will be the best setting for this system.
I will upload my test result with that risk reward ration soon.
And if you have any question again, I will be glad to help youā¦but you must say thanks not to me, but to this original author of this system, which is Andy Perry, the TS of this thread.
Dear Saru & Day dreamer,
Thank you both for the words of widom. It is highly appreciated. Saru, thanks again for being nice to post screen shots and yes I will never forget our Captain for bringing this system to light. Saru, when i look in to the results screen, i see a stand stop loss of 30 pips for most of the trades. So do you stick to it for most of the time ? Although i see few stops with smaller pips too. Also wonder how you place your profit levels ? It will be great to shed light on the same. I would like to also discuss more on this.
My email <[email protected]>. Would appreciate if you could reply to that email as well.
Thanks and Warm Regards,
Muthu.
Yes, I always set SL 30 pips for all of my GBPUSD trade. But in that test result I just use 30 pips TPā¦for next test (either in demo and real NF account) I will set TP 45 pips (as like Andy say that risk reward ratio should be 1 : 1.5ā¦and I have did it at my Pallad EA tradesā¦you can see it at another thread).
I will upload the result test with this risk reward ratio 1 : 1.5 soon.
Hi,
Yes I will be looking forward to more test results that will help us all.
Thanks
Muthu.
Thanks, daydreamer (and Saru) ā Iāve been basically scanning over about five or six different pairs and have seen a few small, possible setups (since late Sunday evening EST) but I have only seen one clear signal, (while I was sitting at the computer) which was on AUD/USD. All three ducks were in line, the trade looked good, I entered on the 5M, and then immediately on the next candle, I got stopped out. Of course some trades just go against you no matter what, but are there any sort of unwritten rules as to how far above the 60SMA the candles should be, pip-wise? The trade I entered, they were well above on the 4H and 1H, but riding pretty close to the line in the 5M.
And, Iām not begging for pip-counts or P/L like others do, but Iām just curious as to how you guys have done with this system, if youāre using it? And is there one pair in particular that you would recommend sticking with above all else? I know itās supposed to work across the board; Iād just like to know if you think it works better with some more than others.
Thanks!
Shakes