Ducky2120,
Do what works for you, not what works for other people.
Captain,
Thanks for sharing this system I really like it’s simplicity.
I will run some backtests on a demo account and then move on real account…but obviously the system is working if so many like it…
Thanks again!
Nc,
Just wanted to pass a long some experience I had…
As far as backtesting this method I had a difficult time seeing the trades and I felt like I was just on a fool’s errand as to how accurate my results were.
However, what I can recommend is forward testing this baby on demo and you will see for yourself that it is a great method to grow your account.
I know the sample isn’t huge, but give yourself 60 trades and see how it stacks up, do it on a demo account and you’ll see your account balance moving up and down etc etc and you can refer back to your trades at the end of the exercise.
You can also keep track of the results in a word or excel document for ease of reference or in case your demo account loses the history, then at the end of it you can decide if your winning with these guidelines or not.
Just my two cents
14-Apr-12: USD.CHF SHORT LOSS -1.3%
This pair made my short list Friday and I decided to have a go, it triggered then stumbled around my entry mark for most of the day. I closed it for a small loss before the US Market Close.
Hopefully another good week coming up for the ducks!
Just wanted stop and say thanks to the Captain for sharing this strat. I ran across this thread, about a month ago. And i can say that my account has grown. I work full time and own a small biz. Not much time for charts. I use my cell to trade. and the 3 ducks has made real simple in what is happening or current direction of price. and makes be more patience with my trading. Less trades and making more pips= A winner… thanks again
We salute you Senior! Make yourself at ease on this thread and fell free to contribute.
[B]Andy
Captain Currency
[/B]
Hi first time posting on thread. Love the idea of the system thanks for sharing. I would appreciate some feedback form anyone as to my latest entry to see if im on track.
Chart is 5min and currency is eur/jpy
Zander
I found 3 ducks saying quack on USDCAD for a buy. The trend is down, but I see that the pair moves like in a senoidal wave, so I think this could be a short term reversal to the trend.
I have been a long time lurker here and I have been learning the 3 ducks and wanted to share the pairs I have been trading.
GBP/NZD, EUR/NZD, GBP/AUD, & EUR/AUD.
Lot of short opportunities over the past 12 or so weeks and lots of pips.
Last week was not a good week for me. EUR/NZD I was still thinking bearish so tricked myself into seeing short opportunities that all turned into losers. When I learn how to post charts I will try and share what I see and think. I try to get in just 1 or 2 trades a week.
Thanks to everyone who participates here.
Jack
Here are my thoughts for tonight for the pairs I watch.
Based on the 4 HR chart
EUR/NZD Right on the 60 min SMA
EUR/AUD Slightly above the 60 SMA
GBP/NZD Slightly above the 60 SMA
GBP/AUD Above the 60 SMA
EUR/GBP Below the 60 SMA (EUR Weaker than the GBP)
AUD/NZD Above the 60 SMA (AUD stronger than the NZD)
With no clear direction (at least to me) on my 4 pairs. I will trade with caution. Short take profit targets, and very little risk and small position size. Also, no set and forget orders tonight, I will enter at market depending on what I see at the time.
For shorts tonight I will keep an eye on EUR/AUD When/if all 3 ducks line up
For longs tonight I will keep an eye on GBP/NZD When/if all 3 ducks line up
This pair is a bit of an outsider at the moment Duck Hunters but If you’re like me and fancy shooting for a bit of positive Risk versus Reward I’d say keep one eye on those Yen pairs especially Eur.Jpy over the next few days or even into next week.
At the moment price is slightly above the 4hr sma on Eur.Jpy but a break below 1.4100 or even that 1.4097 area of support would get me bearish. It would also mean our Ducks would only favor the selling set-ups if the price crosses back below the 4hr sma (see chart below).
Stops-losses, for selling set-ups could be placed above hourly resistance or 5 min resistance if you’re a bit more aggressive. Risk versus reward ratio; I’d say target or aim for at least 1.5 times your risk.
On the flip side Duck Hunters, all bearish interest would fade for me if price goes north and stays above that 1.4200 area.
Try and bag a few pips!
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.
[QUOTE=“Jack B PIP;622142”]I have been a long time lurker here and I have been learning the 3 ducks and wanted to share the pairs I have been trading. GBP/NZD, EUR/NZD, GBP/AUD, & EUR/AUD. Lot of short opportunities over the past 12 or so weeks and lots of pips. Last week was not a good week for me. EUR/NZD I was still thinking bearish so tricked myself into seeing short opportunities that all turned into losers. When I learn how to post charts I will try and share what I see and think. I try to get in just 1 or 2 trades a week. Thanks to everyone who participates here. Jack[/QUOTE]
Looks you are on the right track
Lurkers ‘n’ Peeping Toms are welcome here Jack, make yourself at home.
Delighted to hear you’re getting down ‘n’ dirty with the Ducks eBook, let the learning begin!
Andy
Captain Currency
I am taking a closer look at NZDUSD for shorting opportunities early this week using the 3 ducks. Here are my thoughts:
4H - belows the 60sma
1H - below the 60 sma
I will be using the 15 min to time my entries as I am not a big fan of the 5min but that is just my preference. If price breaks below the 0.8570 I will be looking to short with a SL of 25 pips and at TP of 40 pips.
If price has already gapped below 0.8570 when the market opens then I will prob sit out.
I would be curious to see if anyone else is looking at this pair?
Thanks in advance
Serge
I ended up getting a good entry short at 0.8575 and took profit at 0.8538 for 37 pips. Just a demo trade but encouraging none the less!
Hats off to you Sergiel, well done Buddy!
A few more winning trades like that one will do the confidence good.
Andy
Captain Currency
Thanks Andy!