Hear hear.
He’s not the only one lately though either.
Exactly what is so difficult about remaining on-topic?
If it doesn’t directly relate to the [B]3 specific timeframes[/B] & the [B]1 moving average[/B] then please don’t post. Before you know it yet another simple, quality approach/thread will become fragmented & trashed like so many others on here.
Take your off-topic comments/charts someplace else or start your own parallel thread where those who are remotely interested can participate.
I shorted this at .78964 with a SL of .80286. Power to the dollar.
So big SL? Are you using 1h time frame?
What is your TP if I may ask?
Yes my stop losses are always large. I don’t do the 15 or 30 pip stuff. I have no TP, i close them manually in an attempt to let the winners run. I always aim for at least 1:1 risk/return but usually get higher. I don’t usually like holding positions over the weekend so i typically close them out on Friday. As the week goes on i take the stop loss and move it so the risk gradually disappears and it becomes risk free.
And yes the 1H time frame for resistance/support stop loss. To be honest, i don’t use the 5M time frame much. Sometimes i use it but mostly the 4H and 1H.
I dont apply a SL until price moves well into profit.
Sometimes have a TP if I dont want to be trading for long
You could die easily if an event like the CHF fiasco happened again. This is foolish, random stuff happens all the time. Your asking to get wiped out in the event of a war/earthquake/meteor or some other event. SL are supposed to be your friend and they help reduce risk, plus if you don’t use one there’s no way to calculate your desired risk… You will get wiped out if you don’t change your methods, just a matter of time. Then all your hard work is lost.
Not having a SL doesnt mean not watching. I can jump in any time I like and if Im away from the charts I set a SL until I return, same for overnight trades.
The number of times I set a decent SL only to see a stupid long spike take it out and then have the price return to where it was before. Ive lost more money that way than any other.
Lets hope you are not hospitalized or your internet or power doesn’t work…
I took the Advanced 3 Ducks Training Course over 1 year ago. But I did not start trading the system full time until the start of this year. I want to share my results for January 2015.
Total trades = 22
Winners = 13 for +307 pips
Losers = 9 for -185 pips
Net Profit = +122 pips
Win Rate = 59.1%
My typical SL is between 20 to 30 pips. Typical TP is 25 to 40 pips.
We’ll see how February goes.
Hector
Thank you for your kind thoughts 
There are more important things than money and, like all traders, I only trade with money I can easily afford to lose
To be profitable on 1:1 RR you need to be more than 50% accurate. Did you calculate your risk of ruin? Depending on your capital risk per trade. More info: Money Management and the Risk of Ruin | 2nd Skies Forex
If you are on 1H then it explains these big stops.
Thank you for sharing the results. Could you please share your myfxbook or some screens of the trades, so we can learn something?
He is trading the private “Advanced” system, as opposed to the public “Basic” system. If he posts his trades, people will ask why he took them, and he wont be able to answer. It might be more fair if he just said what pairs he had traded, and what his monthly results were.
I don’t use Myfxbook. The Captain provides tips and guidelines for screening trade opportunities in the Advanced course that he does not provide in the Basic course. For this reason, I can’t post in a public forum my reasons for entering most of my trades. I will gladly answer any questions that do not violate the confidentiality of the Advanced course.
Would I be asking anyone to violate their oath of secrecy if I asked are the 4 hour,1 hour and 5 minute time frames for the basic and the advanced course? If the answer is yes, then if you post a screen of where you entered (not why or when), along with your stop loss and take profit if you used them again not why or when, I actually think more basic traders might shift to the advanced court.
If you’re not comfortable doing that why don’t you post the pair, the entry #. the stop loss and take profit if you used them, with no reasons why. If whoever and I trade the same pair, I’m following the basic 3 ducks and the whoever is applying the advance course, even if the whoever’s numbers are the same or a little less, when you take into consideration everything else that comes with the advanced it will be easy to see the value or look into the advance more. If whoever’s numbers are better than mine and I like the basic course, to me it seems a no brainer to get the advanced as soon as you can afford it
I’m not trying to start anything or derail or hy-jack just my observation and my opinion
Gp
I’ll post some of my trade orders next week and see how that works out. I enter all my trades as Stop Orders so it can take a few hours for an order to fill or I may cancel the order before it fills. I’ll have to remember to post when I cancel an order.
I place most of my orders at night during the Asian session (I live in US central time). Most of the orders get filled around the London session open and will either hit my SL or TP while I sleep. If the order is still open when I wake up I will usually cancel the order.
Don’t think I am saying to much by stating that the advanced course is mainly about stop loss and profit targets and filtering out ‘bad trades’.
All the principle in the free e-book are still in place and those are the main drivers of the system.
To me its a good value for money since the price of the course is like 1/10 of a lost trade.
AUD/USD
The H4 and H1 charts are bearish with current price below the SMA 60. Waiting for the M5 to break below the SMA 60 for the 3rd Duck to line up .
Stop order placed to Short at 0.7770. SL 0.7795, TP 0.7740
I’m trying something a little different. I’m looking at shorting the EUR/NZD and CAD/JPY, and going long on GBP/AUD. I eliminated currencies that have 3 red exclamations on fxstreet’s economic calendar, which got rid of the USD trades.
Why don’t you do the Advanced one on one course and learn that way? It’s not dear for what you get and you won’t be compromising people who have done the course themselves?
