I am in the same boat. I live in a region based on eastern standard time so most movement in the market occurs while I am sleeping (London session) or while I am at work in the morning (London / U.S session overlap).
However I have been having some success with the 3 ducks and setting pending orders. Last week I managed to pull 100 pips on a gold trade, 37 pips on a EurAud trade and 16 pips on a EurGbp trade.
Nothing better than waking up in the morning and seeing that your trade triggered during the night and is well into profit
Heās just answered this very common question for the umpteenth time only 1 page back.
Dial back to post #1585 & youāll see what he advised the last person who asked this question.
Hello, I am currently new in this thread so sorry about the question if it has already been asked but I saw many trades in which the MA in H4 & in H1 timeframes the price was above and when I saw the 5min chart the price was going up but when I saw my H1 chart in order to place my TP & SL I saw that price had reached a resistance and it was having a tough time breaking that point so should I put a trade looking at my 5 min chart as price is moving above or should I just let it go as price is at resistance at H1?
The structure of 3 Ducks is simply a guide.
Itās designed to highlight & focus attention onto instruments displaying [U]potential[/U] set ups.
People will use the guidelines differently depending on their specific technical preferences, therefore itās up to the individual to assess whether or not an entry is worthy of execution based on their own tried & tested approaches.
If you use support & resistance to assist with entries & trade management & itās proven to offer you a positive expectancy when applying that type of trade plan, then you have to decide, based on those results, whether to take the trade or not.
No-one can make that decision for you. This is very much a discretionary approach & is heavily influenced by the operators experience levels, risk appetite & individual approach.
If you fancy catching a winning trade or two over the next few days (who doesnāt) be sure to trade with the trends ā¦
I spot weakness, no doubt the poor auld Euro is weak across the board and may be the currency to sell when your Ducks line up or even sell into potential rallies if thatās how you like to roll!
selling set-ups on these major pairs:
Eur.Usd (price below 4hr sma)
Gbp.Usd (price below 4hr sma)
selling set-ups on these cross pairs:
Eur.Gbp (price below 4hr sma)
Eur.Jpy (price below 4hr sma)
buying set-ups on these major pairs:
Usd.Chf (price above 4hr sma)
Aud.Usd (price slightly above 4hr sma)
Usd.Cad (price above 4hr sma)
Usd.Jpy (price above 4hr sma)
Chat soon,
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 Captain and other guys trading 3 ducks,
I went through whole thread and would like to try this system.
I can not follow 5min charts because I am at work but would like to try set&forget system. A few people mentioned this approach but I can not find any more info regarding this. Is it only available for 1 to 1 course members or can I find it somewhere else?
Thank you.
Kennard youāll need to post me a private message, scribble on my wall or drop me an email. BabyPips would kick me out for breaching forum guidelines ā¦
Captain Currency, where have you been all my life!
Have been trying your system on and off for short periods of times without much success in the past year or two but after the advanced 3 ducks I see the reason was my stops were way to tight.
Been trading it exclusively for the past week and so far placed 10 pending trades, 7 winners, 2 break even (I moved to break even to soon and they would have been minor winners if I hadnāt) and 1 trade that never got triggered.
Risking 2% per trade that comes out to 19.5% return on my capital in 5 days
I have been trading for a while and I know I should not expect this kind of return on a consistent basis but non the less I am very impressed with these short term results
