The 3 Duck's Trading System

I just started using this system and not a bad start with 120 pips! Thank you for sharing this system.


Have you read the eBook yet Psych0F0x, itā€™s free, easy to follow and it will only take you about 1 hour to read.

[B]Andy
Captain Currency[/B]

I have actually, and even re-read it to make sure that the answer is in it. So weā€™re not looking visually at what the trend is and assuming that price above 60sma is uptrend and price below sma is downtrend? I would think it doesnā€™t make sense to buy when all ducks are lined up but the 1h chart clearly shows a downtrend.

Howdy Psycho,

Great well done and hopefully you didnā€™t think I was been a smartass with you when I asked had you read the eBook, just thought you might not have ā€¦ gis a hug!

Thatā€™s it, rather than over analysing trends, higher highs, higher lows, candlesticks and so on your first Duck just wants to keep it simple and get a clear direction by asking if the current price is above or below the sma on the 4 hr chart.

In your above example Iā€™d say your 2nd Duck would be letting you know that price was not confirming. 2nd Ducks job is to simply find out if the current price is confirming or not confirming with the 4hr trend. 2nd Duck is not interested in what the 1hr trend looks like.

You might be overthinking it a bit and we are all guilty of this ā€¦ Iā€™d reckon if the current price was above the sma on the 4hr chart and also above the sma on the 1hr chart, your 1hr trend would look ok. It more than likely wouldnā€™t be in a downtrend and even if it was (5 min chart included) I wouldnā€™t be worried because it might have just been a retracement, pull back or some sideways movement which are all natural and normal movements within the bigger 4hr trend.

Keep it simple.

[B]Andy
Captain Currency[/B]

Youā€™re welcome Cooler!

[B]Andy
Captain Currency[/B]

Greetings Duck Hunters,

Hopefully weā€™re all giving thanks to the currency market this week.

Yen pairs probably made it onto the shortlist for trend traders to trade this week and bulls continued to push north in the direction of the 4hr up trend, just what the Ducks love.

See the Usd.Jpy chart below, current price is circled and is above the 4hr 60 period sma (blue line) and this means our Ducks are only interested in the buying set-ups on this pair.


Next Week ā€¦ News, News, News

Next week (2 - 6 Dec) Iā€™m going to be super cautious, it that time of the month again where we get overdosed on fundamental news. I wouldnā€™t be surprised to see currencies doing a bit of a sideways dance until all the news is out of the way.

On Tuesday the 3rd we get a rate decision out of Australian. On Wednesday the 4th we get a rate decision out of Canada. Thursday the 4th we get hit twice with rate decisions out of Britain and Europe. Then to end the week off we have the US Non Farm Payrolls out on Friday the 6th!!!

If you play golf or do a bit of fishing, next week could be a super opportunity to have some time out from the market. Instead head down to the golf course or lake, avoid all the news and recharge your trading batteries.

Safe trading to you for the week ahead if youā€™re not a golfer or a fisherman ā€¦

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.

Duck Hunters, good trading to you for the week ahead (9 - 13 Dec).


Ducks Currently Favor:
Eur.Usd - buying
Usd.Chf - selling
Gbp.Usd - buying
Eur.Gbp - buying
Aud.Usd - selling
Usd.Cad - buying
Usd.Jpy - buying
Eur.Jpy - buying

Andy
Captain Currency

Hi Cap, just found this thread and start following it. Thanks for the ebook. You are awesome!

Greeting Duck Hunters,

This week will be my last trading week of 2013 until maybe the first or second week of January.

Time for one more winning trade before we go? Euro could be a good bet and hereā€™s why; the Euro is currently strong across the board and Iā€™d be looking for the buying set-ups on either; Eur.Usd, Eur.Gbp or Eur.Jpy.

Look for small breakouts, A 20 pip stop-loss and a 30 pip take profit could be a good approach if our Ducks line up on any of these pairs.

On the flip side, if things go south and we get a break and hold below the 1.3700 area this week Iā€™d turn neutral on Eur.Usd.


Good trading to you all for this week and take care over the holidays,

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.

Probably trend is shifting to the south!

Took a small one today.


New 5-year $USDJPY high.
Closed half position and half remains open with modified SL. Lets see.

:13:

New 5-year $USDJPY high.
Closed half position and half remains open with modified SL. Lets see.

:59:go baby goā€¦

Youā€™re welcome and glad youā€™re on board Oldestarnz!

Go Msufaisal, always nice to get a winner.

[B]Andy
Captain Currency[/B]

Hi Captain and all

Glad I found this thread!
Very good and simple system you have, Cap!

I read yoru ebook, and almost 100 posts.

May I clarify something here?

For ENTRY: Which TimeFrame is the best for ENTRY?
Why I ask, because I read ebook, itā€™s entry is in 5 min chart, but in forum, sometime Captain post entry with 4 HR chart. Which one we shall use? 5m? 4H? or 1H?

Thank you for reading my post!

PS: I am new trader with few months papertrade

Merry Xmas to all!!!

Hello Daeve,

For entry we use 5 min chart. And 4H and 1H charts are both important to determine the price position. If price above in both 60SMA of 1H and 4H then you will looking to buy that particular currency pair. Opposite conditions for sell. 5M charts allow us to place an order just after break of last high. Also keep in mind that, price should be above 60SMA here too. But I think better to place an order if all conditions are met after London session starts.

Thanks.
Merry Christmas.

Thank you bro Faisal.
I will gonna try it out!!

Wow ! At last ! Read the 135 pages. As now is the holiday seasion, I will do Demo trades, but when the action back in late January, I should be ready to trade live. Thank you, Cap.

I have tested this system over a number of trades, they are ā€œalmost always nailedā€, but one thing bugs me, when/how do I know when not to enter a trade with this system?
What should I look at in order to determine if the market is fit for it?

Hi Webguide, as I am also a newbie, I will try to answer your question, if I may. I am basing on what I would do and may not be inline with the gurus here.

  1. I go to the H4 chart and look at the price whether it is above/below the 60 SMA. Also look at the slope/angle of the 60 SMA. If it is flat or the prices are rangeing, I will look for another pair.
  2. Then I will go to the H1 chart and look at the price whether it is the same as the H4 chart i.e. above/below the 60 SMA.
    Again I will look at the slope/angle of the 60 SMA. If it is flat or the prices are ranging, I will look for another pair.
  3. If the H4 and H1 are on an angle or sloping, I will go to the M5 chart to see if the price is in tally with the H4 i.e above/below the 60 SMA. Otherwise I will wait for the cross over the 60 SMA to enter. The entry should be either above (if buystop) or below (sellstop) the previous high (if buystop) or low ( sellstop).
  4. I will place my Stop Loss just below the M5 60 SMA ( with a minimum of 20 pips), to give some breathing space.
  5. My Take Profit would be at the H1 chart to look for the Resistance / Support. Also look at the ATR whether there are space to go.

This is my personnal steps which may not be the best but I think it suits me. There is always areas of improvements and I welcome your guidance.