Originally Posted by
acsuhnir
Hi all!,
I was reviewing a strategy that maybe a lot of you will know: The 3 ducks strategy.
I consider that it's an easy strategy to follow and profitable too.
For whom don't know it, I'll try to explain it, as better as I can.
It´s a multi-timeframe strategy: 4H, 1H and 5M and using only one indicator: IMA (SMA, 60) on each.
Buy case:
First duck: look at the 4H chart and wait until price go below SMA(60).
Second duck: switch to the 1H chart and wait until price go below SMA(60).
Now we have 2 ducks lined up.
Third duck: on the 5M chart, wait until price go below SMA(60).
Time to buy.
For better confirmation, we should let prices break the last high on the 5M chart.
Now all our ducks are lined up.
STOP LOSS: Depends of your trading style ( maybe you wish to wait until prices go high without close or maybe you wish to safe agains loses). I think it's a particular choice.
TAKING PROFITS: Just a recomendation: be ambitious but not greedy. Start taking 10 or 20 pips and look for signals of trending changes.
Good luck and have happy pips
:-)