The best time I found for trading this system is the European and US sessions. Simple system based.This system involves using three different timeframe, a 4 hour chart (first duck a 1 hour chart (second duck) and a 5 min. I lke to use this system as a guide in addition to my own market knowledge. A 60 period simple moving average is applied to all three timeframes. This system works better on currency pairs such as the Eur/Usd and Gbp/Usd, but there is nothing stopping you from plotting this system on any pair, but as we know some pairs act differently to others.
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Firstly I would like to say, I did not reinvent the wheel with this system, I have just added one or two ideas to a 60 citibank card foreign exchange rate period simple moving average (sma) to make it my own and named it The 3 Ducks Trading System for. This tells us that we maybe looking to sell. For extra confirmation we should let prices break the last low on the 5 min chart. From this chart we can see that current price is below the 60 sma. There is 1 indicator, a 60 period simple moving average (60 sma) plotted on each chart. The second thing we need to do is drop down to our 1hr chart. Download free 3 Ducks Trading System note : Subscribe and receive email newsletters with new listings, special promotions, discounts.
Stop-Losses: This is where you can make this system your own. Captain currency trader in this video answers a few questions with respect to correlated pairs like EUR/JPY, GBP/JPY and the 3 Ducks trading system. Of course this system has losing trade and losing runs, but with proper money management and good discipline Im sure this system will keep you out of bad trades and give you a great chance to make profits in the Fx market. Download link zip file) -You will Need: MetaTrader 4 platform. If you are a short term trader you may want to put your stop-loss above the highs on the 5 min or the 1 hr chart.