The 3 Duck's Trading System

[eddieb]

Taken a trade using 3 Ducks
SHORT eur/usd 20k @1.18199
SL @ 1.18699 trailing
TP @ 1.16699
will keep popping back during day and will amend SL/TP as I see fit

[Captain_Currency]

From a technical point of view our First Duck (H4) favors the selling set-ups on Eur.Usd and Gbp.Usd. Sentiment is still bearish ahead of this Friday’s Non Farm Payrolls.

From a fundamental point of view, funny things have been know to happen pre-NFP like fake-breakouts!

No doubt a strong NFP reading could see the Eur.Usd tank to a new multi-year low on Friday but I know some traders will be reluctant to take any new positions until Monday when the dust has settled.

Have a great weekend Duck Hunters,

Andy
Captain Currency

[sclipp]

Hi I just starting reading your thread. Can you please confirm if there has been any revisions, or changes?

1. Make sure the 60 SMA is above the price on the H4 and H1 timeframes.
2. Enter a buy on an up candle that crosses above the 60 SMA on the 5 minute TF.
3. Price should break previous pivot high for extra confirmation on M5.
4. SL below previous pivot low on M5, H1, H4, depending on if you are a short or long term trader, or risk tolerance.
5. Exit when price crosses below 60 SMA on M5 or strong S/R

Thanks
Sylvia

[haridas100]

Hi I just starting reading your thread. Can you please confirm if there has been any revisions, or changes?

1. Make sure the 60 SMA is above the price on the H4 and H1 timeframes.
2. Enter a buy on an up candle that crosses above the 60 SMA on the 5 minute TF.
3. Price should break previous pivot high for extra confirmation on M5.
4. SL below previous pivot low on M5, H1, H4, depending on if you are a short or long term trader, or risk tolerance.
5. Exit when price crosses below 60 SMA on M5 or strong S/R

Thanks
Sylvia

Hi Sylvia,

Just go to Captain’s blog: Captain Currency
and there download his free and revised in 2012 ebook!

[kechel]

Hi Captain, just wanted to say thanks for the ebook. I’ve read it a few times now and have just begun to really apply it to all my trades. The thing I’m most trying to do at the minute is focus on the process & progress as you say, make sure I’m happy with that, and the results do seem to be taking care of themselves more. At the least I feel I’m in the right ballpark now.

Also thanks for this thread and all the wise heads keeping it & us on the strait & narrow.

[sclipp]

Hi Haridas100 and Captain

Thanks for the ebook! It’s brought a lot of clarity to the markets. The information out there is so confusing.
I appreciate that it’s free.

Sylvia

[haridas100]

Hi Captain Currency

Thanks for sharing your knowledge with us.

After reading this post, I decide to test this strategy on my demo account. So far, I make 6 trades, 4 lost and 2 won.

I use 15 pips stop loss and 30 pips take profit. That is 1:2 risk reward ratio, and for the moment, I am on break even.

In attempt to exclude emotions from my trades, I place bracket order, and usually I will left the trade alone. I will stop the trade manually, only if cross the 60 SMA as described in your strategy.

I would like to ask you this: is it possible to have over 50% win ratio using 1:2 risk reward? Do you manage to get over 50% winning trades using 1:2 risk reward ratio? Or you go for 1:1

Just trying to use your experience to save some time with testing.

Once again, thanks for sharing your knowledge.
Regards, Zoreli

You would have more profit with using stop loss value according to the situation. This comes with experience.

[hornet99]

I have followed various forums and have tried the 3 ducks system over a few years and I have not been successful using it. I totally accept that the reason for this could well be ME, but I just wonder if there is anyone out there who actually claims to be using the 3 Ducks and consistently making money as i cannot ever recall anyone keeping a record of trades and showing success. I have no interest in trying to trash this system, it is logical and makes sense, I just want to get other people’s opinion on this as I would love to hear that some people can make profits using this system.

[rindoan]

I have followed various forums and have tried the 3 ducks system over a few years and I have not been successful using it. I totally accept that the reason for this could well be ME, but I just wonder if there is anyone out there who actually claims to be using the 3 Ducks and consistently making money as i cannot ever recall anyone keeping a record of trades and showing success. I have no interest in trying to trash this system, it is logical and makes sense, I just want to get other people’s opinion on this as I would love to hear that some people can make profits using this system.

I am up 96% at present after trading 3 duck exclusively since July 2014.

I have abt 35% win rate and for me a lot of the wins come in waves.

First month was sideways with the next 4 month being up last 1-2 months have been sideways to a little down.

[NScrilla]

I have followed various forums and have tried the 3 ducks system over a few years and I have not been successful using it. I totally accept that the reason for this could well be ME, but I just wonder if there is anyone out there who actually claims to be using the 3 Ducks and consistently making money as i cannot ever recall anyone keeping a record of trades and showing success. I have no interest in trying to trash this system, it is logical and makes sense, I just want to get other people’s opinion on this as I would love to hear that some people can make profits using this system.

I have been using this for two months with real money and have made 27%. Ill tell you what worked for ME. After using this in demo for a few months i found the best thing to do is use wider stops. I don’t do this 15 pip or 30 pip stop loss stuff. I think its a bit ridiculous. I use stops in the 100 pip range depending on the 1H chart. Sometimes its even closer to 200 pips. This removes a lot of the trades that would get stopped out during normal volatility and then continue in the direction of the trend. I risk 2% per trade.

Look for strong trends with the slope of the H4 moving average and don’t use these puny stops. Doing this is what has been making this system work for ME.

No right or wrong way of doing this. All that matters is it works and makes returns for YOU.

[Captain_Currency]

@kechel

… The thing I’m most trying to do at the minute is focus on the process & progress as you say, make sure I’m happy with that, and the results do seem to be taking care of themselves more. At the least I feel I’m in the right ballpark now

You’re spot on Kechel!

I bet a few over-excited Duck Hunters who won’t make the grade in this area …

Andy
Captain Currency

[MexicanGladiator]

Can you tell us what inspired your system, Cap’n? Any particular author or book?

[haridas100]

7% in 2 days with 3 Dux method

I know this is very short time, but looks promising and will still test it.

Risk/Reward 1:1.5

Some screens

[haridas100]

@rindoan

I am up 96% at present after trading 3 duck exclusively since July 2014.

I have abt 35% win rate and for me a lot of the wins come in waves.

First month was sideways with the next 4 month being up last 1-2 months have been sideways to a little down.

If you risk 2% of your capital and risk / reward 1:1.5 your risk of ruin with 35% win rate is … :eek: 99,38%

Unless you risk less per trade and have more reward/risk?

[haridas100]

I’d like to know how Robopips will perform the back test. Based on my experience with the 3 ducks it seems to lend itself to be traded more as a ”discretionary” method than a purely mechanical one. I use it as a guide to scan, filter set-ups, then place trades based on what I think will work, not following set “rules” and “profit targets”.

It’s also important to pay lots of attention to S/R levels, over bought & over sold conditions, session timing, news, etc. Without somehow factoring in market knowledge, conditions, sentiment, all that stuff, the ducks might not back test as well as I’ve seen them perform in real time.

Anyone watch the new reality show on the A&E network, “Duck Dynasty”? crazy show!

My thoughts exactly!

[fishmoyne1]

If you risk 2% of your capital and risk / reward 1:1.5 your risk of ruin with 35% win rate is … :eek: 99,38%

Unless you risk less per trade and have more reward/risk?

Where does rindoan mention a payoff ratio of 1.5

[eddieb]

Just gone Short eurusd 100k @ $1.7755

[haridas100]

1:1.5 is a standard payoff Captain is mentioning in his videos. No?

[ib2k14]

3DUCKS TradeSpotterEA for MT4 (early beta, not yet released)

• watch and locate possible 3 Ducks setups for multiple symbols (up to 25 are supported) on a single screen
• displays some useful information like time span since the last change in trend occured (Format: days.hh.mm.ss), etc.
• E-Mail notification supported
• runs in Metatrader MT4 (Expert Advisor)
• no AutoTrading needed!! don’t worry, the EA does not enter any trades!

what do you think guys? feedback appreciated

[eddieb]

@ib2k14

3DUCKS TradeSpotterEA for MT4 (early beta, not yet released)

• watch and locate possible 3 Ducks setups for multiple symbols (up to 25 are supported) on a single screen
• displays some useful information like time span since the last change in trend occured (Format: days.hh.mm.ss), etc.
• E-Mail notification supported
• runs in Metatrader MT4 (Expert Advisor)
• no AutoTrading needed!! don’t worry, the EA does not enter any trades!
  

what do you think guys? feedback appreciated

Its not an EA then, its a signal provider unless Im mistaken.
BTW, prepare for some negative comments, 3 Ducks is not intended to be turned into an EA