The 3 Duck's Trading System

The Three Duck's Trading System means the trading system belongs to the three ducks.

The Three Ducks Trading System means the trading system is called "The Three Ducks."
 
Quote from CaptainCurrency:

Hello IronFist,

I will have a look on the daily chart for past highs and lows and use them as potential profit areas. I will also say "If Im risking 30 pips, I will be looking for X amount of pips in relation to my risk" obvisouly better than 1v1 if possible. If my target is not reached and prices start moving below the sma on the 5min chart I will close the position for a profit or a loss. Did I know I was going to get twice my risk before I entered the trade? No, but I thought it had the potential to get into the area of the high 2.0315/2.0300, so I did'nt mind taking a 30 pip punt on it. Pity I did'nt think it would go to todays high at 2.0465, which would have been more than 1:7 risk v reward! but trading is not a perfect game and you wont always get the max profit out of a trade. If you are using this "system" in your trading, make it your own ie enteries, stops, target, adding to winners, pairs etc.
The above works for me, but you may want to trade it differently, so make it you own.

Hope that helped.

Captain Currency.
More...

Thanks.

Did you ever consider using an exit of when the price crosses back over the 60 sma again, regardless of if it's a profit or a loss?
 
Quote from sim03:

The name. "The 3 Ducks Trading System" is what you want.
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Hello Sim,

LOL, Yes I thought thats what you where talking about. The system belongs to the 3 ducks, they own it! (I cant believe I am writing this) therefore its The 3 Duck's Trading System. :D

What a way to spend our Friday night!

Kind Regards

Captain Currency.
 
Quote from IronFist:

Thanks.

Did you ever consider using an exit of when the price crosses back over the 60 sma again, regardless of if it's a profit or a loss?
More...

Hello again IronFist,

The short answer to your question is NO. Reason being, as Ive said a few times before, I use the "system" more as a guide, so if I think its time to get out of the trade based on my market knowledge or support/resistance or whatever reason, I will exit.

I think if 10 people where to use this "system"
8 out of 10 might agree on the entry
6 out of 10 might agree on the stop-loss
and 4 out of 10 might agree on the target. IMO

Make it you own!

Captain Currency.
 
Quote from pma:

Nice trading Captain! Your system cleaned up on the euro today!
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Hello Pma,

Yes some nice moves across the board, never thought cable would get that high today.

Kind Regards,

Captain Currency
 
Quote from CaptainCurrency:

LOL, Yes I thought thats what you where talking about. The system belongs to the 3 ducks, they own it! (I cant believe I am writing this) therefore its The 3 Duck's Trading System. :D
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Good one! In that case, the correct name would be "The 3 Ducks' Trading System." Still not "The 3 Duck's..." :cool:
 
Quote from CaptainCurrency:

Hello again IronFist,

The short answer to your question is NO. Reason being, as Ive said a few times before, I use the "system" more as a guide, so if I think its time to get out of the trade based on my market knowledge or support/resistance or whatever reason, I will exit.

I think if 10 people where to use this "system"
8 out of 10 might agree on the entry
6 out of 10 might agree on the stop-loss
and 4 out of 10 might agree on the target. IMO

Make it you own!

Captain Currency.
More...

Ah. So technical entry, discretionary exit.

This system has given me some stuff to think about. Thanks for sharing it :)
 
Hello all,

Looks like cable is getting pulled into the 4hr 60ama, it has'nt been under this in a few weeks. Maybe we will start to get sell signs on the pair when everything is lined up in the same direction.
 

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