Australian (ASX) Stock Market Forum

Three ducks system

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Thanks for the comparison Lesm!

I'll have a play on AB with the stops on the charts.

Cheers,


CanOz
 
Well and truly into the loony with the second lot in profit at this stage. We've got a target of 1.209 ish.

Go Oil.

Cheers,


CanOz
 

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Stopped out of the CAD trade tonight, lots of volatility and probably cranked the stop down too close.

Cheers,


CanOz
 
Three ducks System and Go Markets MT4

Continuing to test this system on the Go Markets MT4 live platform in demo mode during London/US session on the 4 major pairs. Haven't seen the ducks in line again for some days now.

CanOz, how many times would you see the ducks lined up on average in a week? I'm sticking to the 4 majors at the time but maybe I should be looking at a few more? Dunno. Based on what I've seen so far, it looks like this system does work but one really needs the patience to wait for the perfect setups.

There's a lot of questions that need to be answered by Go Markets before I'll fund my account with them though.

1. Their experience as a broker, years?
2. What firm they're attached to? Who owns them? How many clients?
3. How well funded? Working capital?
4. Can they guarrantee the integrity of their data source - ie, if the data screws up or they have other technical problems that lead to client losing money, who covers client's losses?
5. Execution & spreads - do they guarrantee the spreads published on their website? Do they ever widen spreads? On what pairs? When?
6. Re-quotes?
7. Legal obligations to client? Ie, if client cleans up big, will they pay up?
Et cetera...
 
Re: Three ducks System and Go Markets MT4

kam75 said:
how many times would you see the ducks lined up on average in a week?
Click to expand...
so many traders use indicators based on 2 moving averages crossing, so I think the moves will have happened before 3 moving averages have a chance to line up. I think this method would require anticipation from the shorter time scale to the larger.
 
Re: Three ducks System and Go Markets MT4

kam75 said:
Continuing to test this system on the Go Markets MT4 live platform in demo mode during London/US session on the 4 major pairs. Haven't seen the ducks in line again for some days now.

CanOz, how many times would you see the ducks lined up on average in a week? I'm sticking to the 4 majors at the time but maybe I should be looking at a few more? Dunno. Based on what I've seen so far, it looks like this system does work but one really needs the patience to wait for the perfect setups.
Click to expand...

Saw heaps of setups on Monday and Tuesday and got absolutely blended by taking positions way to close to the action. I have no idea what possessed me to trade so close to the noise. :confused:

Anyway, since i zoomed out and took my stops near hourly support i have not been shaken out so easily but still have not had a winning trade in days and days.:eek:

Can't wait to put in the score sheet.:(

There are currently setups pending on the USD/JPY, and other that need to cross back over on the 5 minute. I'll persevere, I'm determined to trade this for a month. I think the challenge will be now be pulling myself out of DD.

Setups: watch cable as well, its just rocket out of 3 duck range on the housing ann.

CanOz
 
Hopefully i will be able to report last weeks trade stats tomorrow night. They will not be pretty and i have to say that its the longest losing streak i have persevered with.

From Monday and for the remainder of the test i will trade on the simulator only. I have reached my pain tolerance level and i see no sense in carrying on with a live account. this is a frustrating animal FX, and one way or another i'll learn to profit from it eventually.

Cheers,


CanOz
 
They will not be pretty and i have to say that its the longest losing streak i have persevered with.
Click to expand...

Maybe risk less per trade??(0.5 or 0.25)

From my limited experience, the optimum amount risked per trade is directly related to Win Percentage(unless you can handle the Drawdown).
 
CanOz said:
Hopefully i will be able to report last weeks trade stats tomorrow night. They will not be pretty and i have to say that its the longest losing streak i have persevered with.

From Monday and for the remainder of the test i will trade on the simulator only. I have reached my pain tolerance level and i see no sense in carrying on with a live account. this is a frustrating animal FX, and one way or another i'll learn to profit from it eventually.

Cheers,


CanOz
Click to expand...

CanOz, I've been watching and waiting the whole week and its been very choppy and dissapointing indeed. Finally got a couple of trades on friday but they did not produce trends. How much time do you think one needs to devote to this system every night? I've been doing monday through friday and usually begin with watching the London around 1900 to see if there are any potential setups. I will watch the market on and off till about 0200.
I'm keen to see your results. Are you going to stick with this system? Here's the two trades that did work out. I have given these profits and more back on those that did not.

GBPUSD 5M stopped.bmp


NZDUSD 5m.bmp


cheers
 
Cartman said:
that will work in theory in FX --- u just gotta lower yr time frames due to the volatility factor ------

try it with 1 hr (maybe even 30 mins) as yr longest time frame ---- then 5 mins and 1 min as yr three that need to be in sync/trend ---- should work ok for short swings and scalps ----
Click to expand...

pilbara said:
so many traders use indicators based on 2 moving averages crossing, so I think the moves will have happened before 3 moving averages have a chance to line up. I think this method would require anticipation from the shorter time scale to the larger.
Click to expand...


Pilbara and i agree on this one -----

imo, unless u r catching the reversal at the bottom or top of a long term cycle, u have to trade FX on shorter time frames or get cut to bitz

BentRod said:
Maybe risk less per trade??(0.5 or 0.25)

From my limited experience, the optimum amount risked per trade is directly related to Win Percentage(unless you can handle the Drawdown).
Click to expand...


i believe yr limited experience is correct ;) :D
 
Should have the results tonight, my printer ran out of black so i'll have to print out the history at work.

Cheers,


CanOz
 
CanOz said:
Well and truly into the loony with the second lot in profit at this stage. We've got a target of 1.209 ish.

Go Oil.

Cheers,


CanOz
Click to expand...

CanOz, what is that dotted line indicator you have on the charts that follows the trends of the price. I've given up on the 3 Ducks system and developing my own instead.
cheers
Kam
 
Oh I see it. Looks very interesting. I'll have to do some reading on how to use it. Do any of you guys find it particularly useful?
 
Yes its SAR. I had been trying it on the three ducks system, more just observation really. On 1 hour it looks like a reasonable exit but it can take out early. One exit that i've been using a bit lately is the diamonds on TG, get 2 and get out. Anyone else us TradeGuider for FX? One particular trader i know reckons you could almost trade off the diamonds alone.

Been busy testing another system on Amibroker, looks promising. The volatility still whipping things around though, can we have some trends please?

Going to do more testing with systems now. Lesm has me hooked.

Cheers,


CanOz
 
BentRod said:
Personally I don't use any indicators but whatever works for the individual is the important thing. QUOTE]

BentRod, what method do you use then if no indicators to guide you?

I've been trading chart patterns on the 4 majors for the past few weeks. Chart patterns work well for me when I trade them in the stock market, so, I thought they would work just as well in Forex. Sometimes they do, but often they don't.
Click to expand...
 
Kam,

I trade with a discretionary approach but use chart patterns,trendlines,ranges,seasonality and sentiment.
 
Hi,

I have seen a few references to the 3 Ducks strategy on the Internet and I was wondering if anyone is using it.

Just out of interest I decided to do some test trades with it and see if it is really profitable.
I will keep the thread updated with my results.

Cheers,

John
 
I think there is a distinct 3 ducks system that is marketed online. I think it is the same guy who did the London Forex Open trading system? I've used that (its set time) and it worked out well.
 

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