Thread: Review - 3 Ducks Trading (Intra)

3 DUCKS TRADING SYSTEM (Intra)

WHAT IT SAYS ON THE WEBSITE

URL : 3 Ducks Trading System Web-Site
Cost : FREE
Author : Andy Perry (Captain Currency)
Review Date : July 2009

Not very often we review a FREE system/service as the main aim of the site is to try and provide an honest review of systems/services so others can get an independent opinion before parting with their hard earned cash. And, obviously, so those who have exposure to the systems/services can also add value from their own personal experiences.

However, in this case we stumbled across, what we consider, a bit of a gem. We have included a review as we believe its an excellent starting point/building block for those new to trading, and it's completely free.

There are no "wild" claims on this website (or in the ebook). The site simply offers up the following; the ebook will "let you know exactly how to trade the system", it includes "a few tips and tricks I use" and it will "help you improve your own trading".

The ebook is available as a download on the website or by sending an email to the author.

THE PURCHASE

Not applicable, download is free.

THE MATERIAL

Firstly it is worth mentioning that this is not a trading "system", it is more a set of guidelines that can be used to improve your trading and, in our opinion, a pretty sound set of guidelines at that. We liken it to the Multiple Time Frame (MTF) philosophy a lot of us came across in our early days in the excellent book written by Marcel Link, High Probability Trading.

The 25 page manual is well written and clear. It provides sufficient information on setting up the charts and then goes into detail on Entry criteria.

This "system" uses an MTF approach based on the 4 hour (major trend), 1 hour (confirmation) and 5 minute (for entry) timeframes with one industry standard indicator across the board.

Stops and Exits are also explored in quite some detail as are "what if" scenarios.

THE SYSTEM IN THEORY

Set up is easy and straight forward.

Entries are almost 100% mechanical. There is sufficient detail in the ebook on Stops and Targets including some good examples. However, this ebook makes no hard set rules here, and rightly so. Stops and Targets for this kind of "system" will depend entirely on how or why you adopt the guidelines and therefore depend entirely on your own personal style of trading.

THE SYSTEM IN PRACTICE

As we made clear above, this is not a "system" as such, it is a set of (sound and logical) guidelines. So, we never used the guidelines as a "system". However, we do incorporate some form of MTF analysis and principles into all of our trading and believe the way it has been described in this ebook is better than any we have found to date.

CAN IT WORK

For the reasons described above, not added to our Systems We Trade as, although we adopt these kind of principles across all of our trading, its not a "system", it’s a set of guidelines.

On that note, in our opinion this is a very sound set of guidelines that those new to trading would be wise to pay at least some attention to.

SUPPORT

Considering the ebook is free we expected a lengthy wait however, all communication we had with Andy was usually responded to within 24 hours.

CONCLUSION

PRO's
• It's free, the logic is sound and it’s a great set of ground rules for those new to trading.
• It's easy to set up and Entry criteria is sound.
CON's
• None really, other than, as we and the author make clear, this is not a "system", it’s a set of guidelines.

NOTE: There is a (cheeky) facility to buy Andy a pint of Guinness on his website and at 5 EUR for the free ebook and based on our last visit to Dublin, seems reasonable to us (and, yes we did).


Do remember, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.



ReviewTeam - www.systemsfortraders.com

Hi,

Thanks for this, we are actually aware of this and at present are trying to schedule in an "Education" forum so once reviewed we have a suitable home for similar offerings.

Thanks though and watch this space - so to speak.


Do remember, if you decide to look into this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com