Hey Andy,
I didn’t know about the eBook. Will read it multiple times for sure.
Thanks for the note.
B5rnard
Hopefully you’re enjoying the read, the eBook was first publish in 2007 … I must be getting old!
Have a great weekend
[B]Andy
Captain Currency[/B]
What do you say …
Last week I said Aussie Dollar was on drugs, today RBA Stevens said: currency high and not supported by fundamentals …. Same meaning!!
(comments caused a big sell off)
Chat soon,
Andy
Captain Currency
Hi Andy,
Is the direction of the MA important, i.e. for a buy, should I pick only the trades where the 4h MA and the 1h MA are pointing up?
Thanks
Jo
Howdy Jo,
For now stick to steps 1, 2 and 3 as outlined in the eBook and you won’t go too far wrong (1st Duck, 2nd Duck, 3rd Duck).
[B]Andy
Captain Currency[/B]
A new trading month is upon us once again and now could be your time to build a plan of action.
Your monthly plan is more about you and your actions rather than your trading system or approach. This plan might just help you manage or overcome some of the psychological aspects of trading that may have been limiting your profits.
So here goes … keep the plan simple and start off by writing down 3 things you need to stop doing or do less of this month when your trading - this part should be very easy!!
Do less of this:
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…
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…
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…
Now write down 3 things that may have served you well in the past, remember when you where trading well and making some good trades and choices, what where you doing?
Do more of this:
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…
-
…
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…
Each trading month has on average 20 trading days so its a sprint rather than a marathon.
At the start of the month print your plan off, have a quick read of it each day before you trade.
At the end of the month see how you did, did you stick to your plan? What will next month’s plan look like, what do you need to do less of and what do you need to do more of?
Progress, Progress, Progress, the mental side of trading is probably the most important element but it probably gets the least amount of attention - the system gets all the attention. Now with your plan you can make positive changes and track your progress.
Good trading to you for the months ahead,
Andy
Captain Currency
Hi,
I read about this system on here and have applied it to the FTSE 100 index with some success. I have made 30 trades from 7/10/2013 - 6/11/2013 (uk dates) so 30 trades in 1 month and only 2 of the 30 trades have resulted in a loss turning £100 into £467.
Now I know the time period is short and I am not sure myself if this is just pure fluke! I have to admit I let a couple of these trades run past my stop loss before the recovered and on another day I guess these could have wiped me out!
My modifications are as follows. I use the 15 min not the 5 min chart. I also have a 15 and 30 MA line. I tend to buy when the 15 approaches the 30 and is moving up as well as the 3 ducks being in my favour and sell when the converse happens.
Hope this makes sense! Sorry I am a total amateur but this seems to be working for me so I will keep going with it! Hopefully cutting out those risky trades using pre determined stop losses rather than my gut!
Do have chart to share? Thanks!
Charts for every trade or just an example? Not sure how to get charts for historical trades. I can give a chart for a trade I just entered into. How do I get historical charts from capital spreads?
So rather than looking at historic charts here is a trade I am about to enter into
- The 15 MA on the 15 min chart is trending down (red line)
- The duck on my 15 min chart just broke down through the 60 MA (yellow line)
- The duck on my 1 hour chart is below the 60MA (yellow line)
- The duck on my 4 hour chart is about to break below the 60 MA and when it does I will go short on the FSTE (yellow line)
Perhaps it wont break but if it does I will tell you when I enter the trade and lets see live how it goes!
Watching it live it seems to be reversing and I might buy the FTSE! Will enter the trade if the 15MA approaches the 30MA and is positive (on the 15 mins chart).
Ha ha it is wobling between the ducks being lined up for a buy and for a sell!! As soon as it makes its mind up I will enter a trade and post the chart then rather than posting chart after chart!
Sorry still waiting all my entry criteria still haven’t been met!
P.S. if this goes all wrong as I have set myself up for it to do so!! This is not a reflection of this system just of me being a total amateur and probably my poor understanding of it!
Woblling up and down between 6740 and 6743 after the initial charge towards 6730 on the charts above.
Ok Taxi for Dave time for me to go home I have a stop loss set for 6760 and a auto close at 6720 so lets see which way it goes! Thanks for listening to my ramble! Sorry to hijack the thread!!!
