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Introducing a foreign Three Little Ducks trading system favored by forex traders

2023/2/25 15:47:37  Classification:   Participation: 6  

Simple, rebatemeaninginforextuitive rebateinforex cashback forex easy to use trading system has always been favored by many forex traders Th best forex rebate article will share with you a lovely forex trading strategy that has many fans: the Three Little Ducks trading system The author of the system is the pen name of the currency captain ( CaptainCurrency, a forex trader, started his trading career in the forex market as early as 1997. 4 years later, CaptainCurrency officially dedicated himself to forex trading and specializes in trend trading, and in 2012, he made his developed Three Little Ducks trading system public. As the name suggests, there are three ducklings in the Three Little Ducks trading system: the first duck (4-hour bestforexrebate) helps traders to confirm the trend; the second duck (1-hour chart) helps to confirm whether the rebatesinforex movement is in line with the main trend; the third duck (5-minute chart) helps to confirm the entry point; in addition, only one indicator is needed There is no shame in keeping it simple, simplicity makes trading more orderly and more consistent with the trend - CaptainCurrency This system is fairly straightforward and easy to use and like many trading systems, it is more efficient when prices move in one direction rather than being stuck in a narrow trading range. Of course, no system can be 100% profitable, but with proper money management and good discipline, trust this system to keep you out of bad trades and bring opportunities to make you profitable in the Forex market. It will also let you decide whether to go long or short and trade towards that trend The three ducklings system specific application rules First of all, the first thing we need to do is to check our maximum time frame (4 hour chart), which is the starting point of our trade (the first duck) If the current price is above the 60SMA (red line in the chart below), the system is telling us that there is a buying opportunity in the target currency pair The second thing we need to do is to move the timeline down to the 1 hour chart and also look at the price on this chart relative to the 60SMA, the second confirmation price it helps us to confirm if the price is moving in the same direction as the 4 hour chart again, the price should be above the 60SMA if the current price is above the 4 hour SMA but below the 60SMA, then the second duck is telling us The current price is not moving towards the trend on the 4 hour chart which means we will stop here (see chart below) (Note: this system is for intraday traders, the best time to trade is 7AM-4PM GMT and not for swing traders) The 5 minute chart as the last duck, it will help us to confirm the entry point for price to return to the main trend on the 4 hour chart as the 4 hour chart is the best for trend trading To confirm the selection we need to find the price point in the chart that is moving higher and also the price point needs to be above the 60SMA. When confirming price highs, always look for the right half of the chart to find the right point, while the solid position of the candlestick is used as confirmation (see below, the arrows point to the recommended buy points) The possibility of making a profit by buying at the second price breakout high will be greater (see below) If the price stays high on the 5-minute chart and remains above the 60SMA on the 4-hour and 1-hour charts, then we can hold the position for as long as possible until the price falls back below the 60SMA before we leave (see the last arrow in the chart below) Three ducklings standing in a row is very important for the establishment of this trading system. As shown below, in the 5-minute chart, the price has broken through the 60SMA and all we have to do is leave the market without hesitation. It works all the time, but overall the advantages outweigh the disadvantages. You can test the effectiveness of the system yourself on your own simulations and choose to use it

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