The 3 Duck's Trading System

[CheckDavid]

Hi

I’m slightly confused with r v r issue. How do you know when to keep your take profit at let’s say for instance 1:1.5. Or to set a fixed stop loss of say 20 pips but let your winners run? I don’t see how you can let you winners run if you have a fixed r to r ratio. Or is that all instinct and experience of the Market again?

I have been playing with Fibonacci levels to find t/p levels. Would this be recommended?

I’m finding with small stop losses they are been taken out early. Even if the grand scheme of the move is still in the direction I am trading, small pull backs seem to keep hitting my stop loss.

Any advice from anyone would be useful

You can let profits run until the price reaches your SL

No problem.

For example, set a 50 PIP TP with a 30 PIPs TS

[automatedtrading]

what can I do if i set more than 50 bip??

[CheckDavid]

what can I do if i set more than 50 bip??

If you are talking about the TP level, if you set it more than 50 Pips away I would suggest you to consider taking a vacation as it will take some time to reach that point

[Captain_Currency]

Potential Trade Set-Up In The Coming Sessions
Just had a quick glance at the market earlier and one currency pair that I wouldn’t mind getting involved with when/if my ducks line up would be Eur.Aud

Currently on Eur.Aud
240min chart; current price is below sma
60min chart; current price is below sma
5min; current price is above the sma

I will be looking for selling oppertunities using the 3 ducks If we do get back below the 5min sma and start getting some momentum in a downward direction. I would love to see a break of 1.4300 as this could open up the way for the 1.4000/1.3900 area.

Best wishes,
Andy.

Trade Safely, This is not a trade recommendation. Use a stop loss and profit target that you think works best for you.

[ThePipDoctor]

Hey Captain,

Just found this thread and really like your 3 ducks method. I’m a FX newbie and looking forward to playing around with it in demo.

Great thread, blog and congratz on the new addition

-Tim

[rca420]

Hi Capt C,

I’m a beginner with your system and would like to know what you mean by the “last high” of your 3 ducks system. Does it mean the high of the day? Please share your interpretation of the “last high” so I may better understand your system. Thank you much kindly!

[baby24]

Hi Capt C,

I’m a beginner with your system and would like to know what you mean by the “last high” of your 3 ducks system. Does it mean the high of the day? Please share your interpretation of the “last high” so I may better understand your system. Thank you much kindly!

He explained it in post #5

Regards

[Captain_Currency]

Greetings all,

It’s always good to remind traders
[B]When Not To Trade The 3 Ducks[/B]

The 3 Duck’s Method is purely technical and I don’t take too much notice of fundamental news releases. Bernard Baruch once said “Show me the charts, and I’ll tell you the news” I would agree with Bernard.
However some major news announcements can cause gaps in the market and your broker can not guarantee your price at which your stop loss is set. For this reason alone I do not trade any currency pair on the day when The Non Farm Payroll announcement is due out. The only other time I do not trade a particular currency pair is when an interest rate decision is due out of that country. Example, lets say there is an interest rate announcement from the bank of England on Wednesday. That means I’m not going to trade any currency pair with the GBP in it on Wednesday.
Details of all the upcoming interest rate decisions release dates can be found on any good forex site
The Non Farm Payroll announcement is due out the first Friday of every month at 1:30 pm GMT.

Best wishes,
Andy

[Captain_Currency]

@Captain Currency

Potential Trade Set-Up In The Coming Sessions
Just had a quick glance at the market earlier and one currency pair that I wouldn’t mind getting involved with when/if my ducks line up would be Eur.Aud

Currently on Eur.Aud
240min chart; current price is below sma
60min chart; current price is below sma
5min; current price is above the sma

I will be looking for selling oppertunities using the 3 ducks If we do get back below the 5min sma and start getting some momentum in a downward direction. I would love to see a break of 1.4300 as this could open up the way for the 1.4000/1.3900 area.

Best wishes,
Andy.

Trade Safely, This is not a trade recommendation. Use a stop loss and profit target that you think works best for you.

Greetings Duck Hunters,

Our ducks lined up for a sell on the Eur.Aud on Monday and we got some momentum in a downward direction that we where looking for. A decent enough trade that paid off well. Keep it simple

Best wishes,
Andy

[Captain_Currency]

[I]Greetings All,

Here Is My Current View On Some Currency Pairs Using The 3 Ducks Method As My Set Of Guidelines;[/I]

[B]Eur.Usd [/B]- I would be looking for selling opportunities when my 3 ducks line up.

[B]Gbp.Usd[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Usd.Chf[/B] - Very 50/50, currently I would not be looking for 3 ducks trading opportunities on this pair.

[B]Aud.Usd[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Usd.Cad[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]Usd.Jpy[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Eur.Jpy[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Eur.Aud[/B] - A bit 50/50, I would prefer to be selling when my 3 ducks line up.

[B]Eur.Gbp[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Aud.Cad[/B] - Very 50/50, currently I would not be looking for 3 ducks trading opportunities on this pair.

[B]XAG.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]XAU.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[I]Keep it simple, keep it logical!

Hope that helps you,

Best wishes,
Andy[/I]

This is not a trade recommendation. The 3 Ducks Method is best used with discretion in addition with your own market analysis and trading ideas.

[Captain_Currency]

Greetings All,

Hopefully some of you clever duck hunters managed to make a few pips on Gbp.Chf, it has sold off by +310 pips since our 3 ducks lined up.

[B][I]Here Is My Current View On Some Currency Pairs Using The 3 Ducks Method;[/I][/B]

[B]Eur.Usd[/B] – A bit 50/50 at the moment, I’m going to sit on my hands and wait until I see if it goes higher or lower.

[B]Gbp.Usd[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Usd.Chf[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Aud.Usd[/B] - I’m going to sit on my hands and wait until I see if it goes higher or lower. A break above 0.9100 would get me bullish and looking for the buying opportunities when my 3 ducks line up.

[B]Usd.Cad[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]Usd.Jpy[/B] - I would be looking for selling opportunities when my 3 ducks line up.
[B]
Eur.Jpy[/B] - I would be looking for selling opportunities when my 3 ducks line up.
[B]
Eur.Aud[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Gbp.Chf[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Aud.Cad[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]XAG.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]XAU.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B][I]Hope that helps you, keep it simple, keep it logical![/I][/B]

Best wishes,
Andy

These are not trade recommendations. The 3 Ducks Method is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.

[sharad]

Is there anyone who has made huge success with the help of 3 duck sys. ? If so, please share your success story and moves as well. Appreciated.

Thanks

Sharad

[Captain_Currency]

Greetings All,

Here Is My Current View On Some Currency Pairs Using The 3 Ducks Method;

[B]Eur.Usd[/B] – same as last week, a bit 50/50 at the moment, I’m going to sit on my hands and wait until I see if it goes higher or lower.

[B]Gbp.Usd[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Usd.Chf[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Aud.Usd[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]Usd.Cad[/B] – a bit 50/50 at the moment and another currency pair that I’m going to sit on my hands and wait until I see if it goes higher or lower.

[B]Usd.Jpy[/B] – I would be looking for selling opportunities when my 3 ducks line up.

[B]Eur.Jpy[/B] – not interest in this pair at the moment a break below 105.40 would get me bearish again.

[B]Eur.Aud[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Gbp.Chf[/B] - I would be looking for selling opportunities when my 3 ducks line up.

[B]Aud.Cad[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]XAG.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

[B]XAU.USD[/B] - I would be looking for buying opportunities when my 3 ducks line up.

Hope that helps you, keep it simple, keep it logical!

Best wishes,
Andy

These are not trade recommendations. The 3 Ducks Method is best used as a set of guidelines with discretion in addition with your own market analysis and trading ideas.

[robstanberry]

what is The 3 Duck’s Trading System? never heard of it…

[morfius]

how do you set your TP or exits?

[Raza]

I have gone through the thread and captain’s website and I must say his method is good. The best thing about the method is that it requires thinking on the trader’s part.
I have already made one trade using the 3 duck system on friday. I went short GBP/USD and made 50 pips. I wasn’t too sure what profit level to set. Anyone else traded cable last friday?

I look forward to testing this method on euro and GBP next few weeks. I will post the results here.

Also, does anyone here has the 3 duck ebook? i’ll appreciate if someone could post it here…

[rjmah319]

I will trade this method for the first time this week and post results here as well.
Good Luck Traders!

[DoubleEcho]

The best thing about the method is that it requires thinking on the trader’s part.

Don’t you mean it requires little or [B]no[/B] thinking on the traders part?

You simply wait for the last piece of the jigsaw to slot into place, which is the moving average on the 5 minute chart aligning itself in step with the 4&1 hour direction.
All that remains then is to decide where you’re going to place your stop loss, identify a potential profit area & away you go.
The rest is down to how you choose to manage the trade.

I went short GBP/USD and made 50 pips. I wasn’t too sure what profit level to set. Anyone else traded cable last friday?

Won’t your eventual profit outlook depend on what you usually use to manage your trades?

What do you normally use?

[Raza]

Don’t you mean it requires little or [B]no[/B] thinking on the traders part?

You simply wait for the last piece of the jigsaw to slot into place, which is the moving average on the 5 minute chart aligning itself in step with the 4&1 hour direction.
All that remains then is to decide where you’re going to place your stop loss, identify a potential profit area & away you go.
The rest is down to how you choose to manage the trade.

It is a bit complicated than that, i feel. One has to filter out good trades from bad ones. For example right now as i write, the three ducks are lined up for a long trade on eur/usd chart. But the price is finding resistance at 1.2830 level and i feel it is wise to wait till it convincingly breaks that level.

Won’t your eventual profit outlook depend on what you usually use to manage your trades?

What do you normally use?

I am not quite sure what you meant here. The key to success of this method is to let your profits run for as long as possible. Don’t end your trade only because you netted a certain amount of pips.
The profit level I’ll be looking to aim using this method would 2 times my stop loss.

[DoubleEcho]

I am not quite sure what you meant here. The key to success of this method is to let your profits run for as long as possible.

Sorry, maybe I didn’t explain it clearer.

Captain Currency mentions in the first page of the thread that stops & targets are the responsibility of the individual trader. In other words you can use his mechanical rules to get your entry, but you tailor the risk & profit potential to your own personal style, aims & expectations.

That’s what prompted my comment about what type of trade management you usually adopt when trading any other strategy.
You might have used your present trade management method to slot in alongside the entry & risk components of this one.

Or are you quite new to trading in general?
Which might explain your confusion about setting profit targets on your last Cable trade.