Anybody trading modified 3 Ducks system

Discussion in 'Intra-day Trading' started by michael, Mar 13, 2013.

  1. michael

    michael Casual Member

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    l have read about it too and l think the system may have some merit.Certainly the Irish guy who teaches it seems to have success with it and you can't knock any system that makes money in the market! However, my experience is that you have to find a style/method of trading that suits your trading personality and temperament and stick with that until you've mastered it and then you are free to dabble and test other things to your heart's content! That's my feeling anyway; plus it can take a long long time to truly discover your trading personality and a method to suit it - years even!
     
  2. lingsbord

    lingsbord Casual Member

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    I use this to refine my entries. Primarily I use the Daily, then 4H, then 1H but on occasion if I'm looking for something shorter-term the 5M under the same conditions works great.

    I also run it across several pairs, and to take the scanning work out of it I use an MT4 indicator which tells me which pair is currently meeting all the correct conditions. That way I can continue with my core trading methodology and let the "3 Ducks" tell me when I should consider a new short term trade. I got the indicator from NexGen4x and it's called 3 Ducks Setup (it's free btw).

    A further filter would be to use a stochastic trigger, but really all you need is to plot Daily High & Low, Weekly High & Low, and keep an eye out for other key S & R levels. There's no point taking an apparent trade if you're going long into a mass of resistance!

    3 ducks is simply an alert, not a system. How you manage it is up to you. When I use it I get good results consistently and I love it because it's SOOOOOOO simple!
     
  3. digf

    digf Forum Newbie

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    Hello lingsbord

    Some time ago I demo traded the 3 Ducks for a while and just about broke even and then stopped using it. This was very soon after I got interested in forex. Having a little more experience now I was quite interested in your post, which I have only just read and the fact that you are using it successfully has stirred up my interest again.
    Are you still using it in the way you described in your post? I am interested in daily and 4 hour trades rather that shorter time frames.
    Thanks for the info about the indicator. The link you gave takes me to a site that is no longer active but after searching I found what I think is the same indicator. I have set a few pairs up and will trade it with small stakes.
     
  4. squalodon

    squalodon Regular Member

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    Can someone tell me what the 3 ducks system is?

    I have tried a different method from a different guru before.. a breakout method set up.

    basically you will be earning some pips if you do use his method.. but his R:R is 1:1..

    so basically you would win about 8 out of 10 trades

    but since you loss 2 trades..

    you would be just up by around 6.

    If you get a losing streak.. it damages the equity curve tremendously. I'm not disrespecting his style though.. it helps make some quick bucks.. but all the conditions have to be met.. and sometimes.. you yourself are probably not sure if the conditions have been met.. his method is not a system.. it's more of like a "method" only.. and you try to adjust to every trade opportunity that you see.

    have used it for awhile and it does work.. but trust me PA protocol is better... though i still use this.. since this helps me make a few pips from time to time.. when i get bored.. hahaha
     
  5. gauri

    gauri Guest

    Hello, Anybody trading modified 3 Ducks system. The Forex War Forex system based on 3 ducks strategy.
    Thank you
     

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