Duck Hunting Strategy: 100$ to 1000$

Good luck Duck! You will make it!

Hi qFish!

Thank you!

Tss Dong!!! Tss Dong!!! Tss Dong!!! Tss Dong!!!

Are You Ready Everybody!!!

*Disco lights*



Taking a break from trading to tide over this market condition that doesn't favour my trading strategy.

Day trading doesn't mean that you have to trade daily. A broad stroke understanding would be to call it as, ending your trade before the day ends. But I don't subscribe to that notion of having to close our the trades before the day ends, in order to be considered as day trading, however.

I have a list of items I would like to journal regarding my trading styles for when I forget my ways, and could bear a little reminder, and I am working on it today.

The weather is blood O hot.

Drink more water )

Fish On!

I am back from the two week rest.

Actually I did trade on my other account on the second week of rest but I only made one trade when I spotted the opportunity knocking on my door. I will post it here later. And I managed to get 1R BE.

So, this morning, I was watching 3 pairs.

- EURHKD
- GBPCHF
- EURUSD

I placed three Limit short order on this Bear Flag, and waited. It didn't get triggered, as of now. I closed the orders out because I saw action on EURHKD and EURUSD.

After measuring which pair gives better RR between EURHKD and EURUSD, i decided to enter on a Market Short Order on EURUSD, because it gave a minimum of 3R, infact, 3.51R after I entered.



The Market Order performed as if it was a Limit Order, giving me a better price than my expected entry price because the current price at the time of entry was above my expected entry price.



As I am typing now, I see that my initial chosen Bear Flag setup seems to be ripening while I have already entered on a smaller RR setup. I don't regret it even though the Bear Flag setup on GBPCHF offered 6.41R as compared to the EURUSD Market Order pair which offered only 3.51R.



What would happen in the next hours? Who knows?

Welcome to DuckHunter's thread where Money Does Equate To Happiness.

Currently playing on YouTube is Olivia Ong's Little Nonya where the song talks about how one sparrow navigates its way through the trials and tribulations of life.





---

Besides that, I have enough energy to do a quick update on the EURUSD trade I took earlier this Monday.

There's no youtube video because I am out of gas again. (I'm battling with depression, anxiety and ocd).



So, the liver colored arrow shows where I got stopped out.

The first trade got closed out for 1R, and the second and third trade ran.

The second trade came so close to hitting the second take profit but it didn't, due to spread.

When price approached the second alert line, i shifted the second trade and third trade's SL from BreakEven to the first TP according to my Mcdonalds Trailing Stop Loss Technique.

Eventually, the second and third trade hit our SL and closed us out for another 2R. Totalling 3R.

The dollar amount won is smaller in this trade because I decided to trade a total of 1% instead of the usual 3%. I realised that I could make some adjustments to my trading strategy's rules to protect myself, which I would explain in the next paragraph.

---

- First Attempt

Instead of allowing myself to lose 3% on two consecutive trades before I decide to take a break for one or two weeks, I should instead, take a one week break when I lose on the first 3%.

-3%

- Second Attempt

And when I come back to trading, I should risk 1% in total instead of the usual 3%. If I lose the 1%, too, I would take another break for another week.

-1%

- Third Attempt

And when I come back again, I would trade a total of 1% again. If I lose again, I would take a break for 1 week.

-1%

- Fourth Attempt

And come back to trade 1% again. And if I lose again, I would take a TWO WEEK BREAK, this time. Reason being, I lost a total of 6% over 9 weeks, which is, 2 months and 1 week.

- Fifth Attempt

I am going to trade 1% in total again, and if I lose again, I repeat the breaks I take starting from the First Attempt again, but only risk 1% in total. Then, to the Second, Third, Fourth, Fifth.

---

I do not rule out the possibility of losing like a I am on a diarrhea, be it due to my own mistakes such as not following my trading plans, or losing my way, or that the strategy isn't feasible etc. But by then, I believe most seasoned traders would have felt the same sickening feeling they felt when they know their strategy isn't working. And by then, I would have stopped trading and think of a way out while preserving my capital..

---

What if I won on any of the attempts for any amount besides Break Even?

At then, I would resume to trade 3% in total.

---

The gut wrenching feeling of knowing shit isn't working out is my guide. Heed its advice.

Hi DuckHunter,

I'm a Singaporean although I am living in Iceland.

Would you like to have a chat? I hope your depression, anxiety and ocd gets better.

Its not me~

Its not me~

Its not mine~ In Your Head In Your Head~!

Is this how the lyric goes? I am not too sure, usually I wing things such as lyrics until I get corrected by others, or my curiousity(did I misspell this word?) got the better of me.



---

Regardless, yesterday I think, I loaded my other trading account with a total of 215$ SGD and also created another account and loaded it with 215$ too.

The first account would be used to trade Trending Markets with the Duck Hunting Strategy, and the second account would be used to trade Ranging Markets with the same strategy.

I would still continue to trade on this primary account as seen in the Trade Explorer, and have decided to not load any money into it so that I could see and keep track of how I grow and in which way this strategy would head to in the long run in its natural state, but I would scale the risk I take when the account size grows to match the 1% size relative to the account size. (Not sure if I am making myself clear, and if my future self would understand what I am talking about or not LOL).

I am unable to connect my account to ForexFactory's Trade Explorer, however, maybe because those accounts and this Oanda account are linked.

---

...1733SGT I got distracted listening to songs on YouTube, because I forgot what I wanted to say.

I just entered on 3 trades on the main account that this Trade Explorer tracks.



--
Price currently look like this below after my Sell Limit Orders got triggered. As usual, I take 3 Orders, and today I am risking 1% per trade. 1744SGT


--

I consider this as a Trending Market because price broke out of the Major Support Area on the Higher Time Frame.

The first shifting of SL would occur when price hits the 0.9R of the trade, I would take profit for the first order at 1R.

The second shifting of SL would occur when price hits the 1.9R of the trade. I would be shifting the SL from Break Even to 1R.

The third shifting of SL would occur when price hits the 2.9R of the trade. I would be shifting the SL from 1R to 2R.

I am attempting to take more than 3R here. To be precise, I am reaching for a total of 3.4R. So, how would I manage this trade while hanging my SL at 2R? This is something I haven't put much thought into, because I would rather go for more, such as 5R, 6R etc. instead of 3.4R, where the 0.4R is a hindrance should I fail to hit it.

I need to think more about it while the trade is running.

1741 SGT

Note : I just came back from work. I did 3 orders of GrabFood today. My father says its better than nothing. I think so too. I forgot my medication today, again, but since I got some endorphine, Vitamin D and all the other chemicals from the outside world, I feel alright today. I don't feel that blurry or depressed today.

Great Day to You who is reading this update

2103SGT 29082022

An update. Got stopped out for 3%.

I am second guessing myself on the part where I would take a break for one week everytime I lose a trade, because there i only 52 weeks every year. How many break could I afford to take?

Instead of taking a break, I should trade 1% overall for the following week, instead. This way, it minimises my losses while still maximising my chances, because we all only have 52 weeks a year, and I take one trade per week, so...

Currently sitting on 12% profit(12$/100$) after 118 days and 21 trades.

Vaydeo~ I wanna maketh A vaydeo~

I wanna make a video to record some new realisations about my entry time frame, however, I haven't even edited last week's video. "small" inconveniences is what that makes me wanna go home. I'm so tired.

Anyway, I just entered on GBPCAD Short Limit Orders.


As usual, I am going for 1R, 2R and the maximum at the next Major Support for 3R. The RR I am going for, is quite small in the past one month plus, I think it might be because there isn't any Huge Trend to ride, currently. It is ok though.

I am risking 1% in total in this trade because I lost 3% last week. I have to recover some first before I trade 3% total again.

---

When I began this Trade Explorer, my thought is that, I would want to increase and maintain my trading consistency, in all aspects. That was why I decided to trade 3% and only one trade per week usually, unless if I hit home run(6% gain, or more).

In my mind, trading 3% in every trade, just three times the recommended %, wins and losses. But somehow, I forgotten about the three times the losses part, when I went into drawdown.

Trading three trades at one go, doesn't mean that the true win rat would be reached in 3 times the speed. In fact, I now, would need 300 trades instead of 100 trades, to gauge my true win rate.

---

Beautiful Trends only.

This is a phrase I thought of in 2020 March when I was trading my own Duck Hunting Strategy. I think that if I do take all variations of trends that respect my parameters, then my results would be all over the place, and I would be doubting myself, revenge trading and all. So, I thought about adding only the most beautiful trends into my trading list.

Now I think it also applies to the Entry Time Frame. But if we take a look at the GBPCAD, it doesn't respect the Moving Average. So, what could I do about it? Force it to respect the Moving Average by shorting it when price comes back to the Moving Average?

If I have done so, I have already gotten stopped out and today would be a red day.

I saw that price was respecting something else, the Trend Line. And so, I drew the Trend Line, and gauged where price would retrace back to, and placed my Short Limit Orders there. What would happen? Who knows?

Ah hee hoo Ah hee hoo~

1R ah mai siao siao.

But the 1R is 0.33% because last week, I lost 3%, so, this week, I traded a total of 1% only.


Currently sitting on 13% profit on a 4 month record. Leggo~

I'm alil bit stingy.

So, I use Limit Orders, and I place my Entries higher, expecting them to get triggered, because if I were to place them lower, it might get triggered and go into red, instead.

So, I spotted this pair last night. And just now, when I was scanning the Higher Time Frames, I skipped this pair, because it isn't trending beautifully on the Higher Time Frames.

I recalled that I have a pair that I was eyeing on, based on "New Found Knowledge", I realised last week. +++

I believe I have gotten stopped out quite a few times in the past 4 months because of my lack of knowledge of this "New Found Knowledge".

Now that I know better, I do better.

Would my Pending Sell Limit Orders get triggered? Who knows?






+++ If price doesn't respect the Moving Average, It might be respecting the Trend Line. Place your Orders on the Trend Line instead of the Moving Average, to avoid getting stopped out "prematurely".

I feel that I keep making miniscule changes to my strategy, sometimes intentionally, sometimes unintentionally.

I feel that this time, the intentional but knee jerk decision I made a few weeks ago was not the best decision I could have made, because whenever I am losing, I lost 3%, but when I get to win, I only win 0.33% !

What decided upon, a few weeks ago documented in this journal is, I would trade 1% total if the previous week was a loss. And I won on those weeks. The sample size might be small, but I trust my feelings, because my trades, I control my own destiny. And, despite the mistakes I made over the 4 months, I am still in profits.

Today, I lost 3% again, and my account is down to 89.96$ I think. If I didn't make the switch to 1% total risk, for when I make losses the previous week, I would have been able to minimise the losses I took.

Here's my calculation, but this calculation excluded this week's loss of 3$ because I have another sub account running in Trade Explorer, too and I think, because of two account running together in TE, this account's TE got disactivated.




As you can see from the image, I win around 0.33$ to 1$ when I win, and I lose 3$ when I lose. You can't convince me this 1$ thing as a risk cutting measure is a good one. So, I am going to stop doing this kind of stupid shit, and just risk 3$ in every trade regardless if the previous trade was a winner or loser.


I might link my sub account to myfxbook, but I found that myfxbook is glitchy in its own way. Shall see how.

---



Today's trade ended up in losses before it came back down to hit my TP 1 and TP 2. Whenever I see such things happening I feel consoled, because I know I could have hit TP, but this time, price did an aggressive false break, that's all. Whenever I end up in losses, I hope this happens.

--

Coulda, Woulda, Shoulda~! - Les Brown

13092022 0001SGT

I realised something just now when I was looking at the EURCHF's chart after my loss as documented in the previous entry.

Recalling Rayner Teo's words, in his past YouTube video where he documented his trades, he mentioned something like, when he have to decide between the Moving Average or the Market Structure, he would always go with the Market Structure.(I think its something like that)

I am going to document the part about this week's lesson first and then I am going to document the lesson I learned last week.

Trend Line Entry Setup


vs what I should have seen first and traded


Market Structure Setup

1207SGT

---

14092022 1441SGT

Yesterday was a tough day, today too. I hope that life gets better soon.

---

Just now, something within me clicked. I realised that I should not be trading the Trend line. Trend line is just like your hand holding onto fine china. Let go of your hand and the fine china crashes to the floor, and it's not about if it would crash or not, but that, when would it occur, and how frequently?

I have this thought because I saw a tiktok video of a Iraqi grandmother who, when bored, takes out all her nice and beautiful plates from her cabinet, and rearranges them.

https://vt.tiktok.com/ZSRmhXmmR/

https://www.tiktok.com/@iraqibantz/v...87512350985478

---

...1457SGT

Just because you draw a trend line and it touched the trendline previously before rebounding, doesn't mean it is respecting the trendline. I could be respecting something else. The Market Structure.

From now on, I am not going to trade the trendline. A couple hours ago I entered on the trendline, and then i realised my folly, and i quickly removed the order, and looked for the next Major Support Area which i could enter on, because the previous time the trendline worked, was because it was respecting the Market Structure, and it just so coincidentally touched the trendline, too.

---

Always identify the types of setup first, before you go to scan your higher time frames.

Instead of going,

4 Hour Time Frame - price over 50EMA
Hourly Time Frame - price over 50EMA
15 Minutes Time Frame - Frantically looking for Buy Setups through filtered lenses.

Instead do,

15 Minutes Time Frame - Look for History ALWAYS Repeats Itself, in the latest previous setup. Example, Bull Flag aka Micro Consolidation.
(Identify then Scan the Higher Time Frame for Direction/Trend Confirmation)

4 Hour Time Frame - Price over 50EMA
Hourly Time Frame - Price over 50EMA

---

Checklists, with the S at the back.

Your checklist need not be a long one, and you should have multiple checklists.

- **Trend/Direction Checklist
- **Setup Finder
- **Major Support & Resistance(For me, I prefer not to trade into it)
- **Max Drawdown Limit
- Position Size
- Bank Holidays
- News

etc

For me, those in ** are the checklists I need to use, and within the checklists is the actual checks, which you need to define for yourself.

---

Types of Setups and Market Conditions I am going to trade w.e.f. 14092022 1514SGT

60SMA confluences

- 60SMA
- Micro Consolidations(B/B Trap, B/B Flag, Up/Down Channels, "Mini" Market Structures aka 3rd Swing Reversals)

Market Structures(Major Consolidations)

- B/B Trap
- Market Structures

---

Trading Frequencies

Now that I understood why I am losing back the profits and more after a few months of good run, I can do better.

In other words, don't trade the Moving Average when price is Ranging. Vice versa.

I always tried to make the Moving Average work when price is ranging in the past few months, and I was very lucky I am still in profits. And I done that because thats the only thing I knew to do. The Moving Average, so, when the Market Conditions changed, I didn't know how to react. I try to squeeze every little value I could, out of the moving averages swings.

When your market conditions changes, it is likely that that is going to last for a few months. So, what you should do is to not trade that strategy, but instead, look for something else that would work in the current market condition. This feeling thing takes time to get it right, and keep failing and learning and thinking and seeing the charts etc is the only way to figure it out for yourself, and to make that knowledge stick.

Back to the topic on how useless trendlines are, by itself.



This is the Buy Limit Order I placed, a few hours ago.

Currently, price has broken through the Trend Line, gently.

Would it hold? I am not sure. But I believe that price should come back to the next Major S&R level instead.

Close up


Zoomed out


Current price is 149.147 and the SL is set at 148.866, just nice, at the Major Support Area. I have seen this multiple times, where price crashed through the Trend Line, and touched the SL that is placed at the Major S&R level, and that could be why I recently kept getting stopped out, because I am trying to make the Moving Average work in a Ranging Market Condition.

It isn't that I should stop trading until the rain stops, but that I need to adapt to the changing Market Conditions, and apply parameters that work in this Market Conditions.

When it's time to sleep, sleep, when it's time to eat, eat, when it's time to die, die.

So, I am going to increase my trading frequency, but how could I apply Hit and Run here? My position is rather huge, one loss is like 3 consecutive losses, and 3 consecutive losing trades is like 9 consecutive losses. Maybe, I could increase my trading frequency to 3 times a week.

If I have 2 consecutive losses, I would stop trading for the week.

---

Position Size

I would stick to 1% for each order, totaling 3%.

---

Add : 1557SGT

The problem with many traders isn't that they are impatient, but that they lack the experience required to know how patient they should be.

If you ask me to put money into the bank to earn big interest, and ask me how soon I would like to earn that big interest, my answer would be immediately. If I tell you that someone is giving out free money on the internet and I ask you when you would like to go get it, you prolly tell me asap. If it is not a scam, of course.

So, something like Market Structure aka Support and Resistance trading is nice but people can't imagine how long they would have to wait until their order gets triggered.

Impatience comes from lack of experience, and once you have some experience and impatience still lurks, it is due to lack of results that your heart desires. And then, people from here, hop from one strategy to another strategy, in hopes that they can fulfill their heart's will.

And before they know it, it has been years since they are trading, they have mastered all kinds of setups, and indicators and they can tell you how to calculate the Moving Average, or how you should do things etc and they could be very right but they still have no results that their hearts will!

When one comes to this stage, it could either be their turning point to a better trading journey, or they quit here, or they continue to talk nonsense like me online!

At this point, its best to cut. Bulk first then cut. Now, cut! Some a pattern that keeps repeating itself, time and again. I think, the Market Structures are very good thing to lean against. Don't go to the 4 Hour Time Frame anymore. That place sucks. And plenty of time is wasted there. Move to the 30 Minutes Time Frame instead. Better still if you move to the 15Minutes Time Frame.

What's noise? Blue noise, pink noise, brown noise, white noise. Look at the Higher Time Frame as your Higher Time Frame, not your Entry Time Frame. Imagine you take the Higher Time Frame as your Entry Time Frame, and then your real Higher Time Frame is going to be even higher!

That's all for now. Great Day Ahead. Money zhoo-eh zhoo-eh, Cai Zhoo-eh Zhoo-eh, Health Zhoo-eh Zhoo-eh, Good Luck Zhoo-eh Zhoo-eh, Benefactors Zhoo-eh Zhoo-eh. All Good Things Zhoo-eh Zhoo-eh.

1614SGT

Zhoo-eh Zhoo-eh = Many/abundant

---

TLDR

 

1. Prioritise Market Structures first, then Moving Averages when looking for setups.
2. DO NOT TRADE Trendlines, they DO NOT WORK!
3. Scan for setups on the Entry Time Frame, first, then scan for Trend/Direction Confirmation.
4. Have as many checklist as you need, one item per checklist is still a checklist.
5. Two types of market conditions you going to trade in, Market Structure and Trending Market only. Don't bother about Trendlines.
6. Each Market Condition has it's own type of setups. List above.
7. You can trade up to 3 times a week.
8. If you lose twice consecutively, just stop trading. Maybe, take the next week off, too, if you want to. You are your own boss.
9. Position size and number of orders shall remain the same, 3% total for each trade, 1% for each order. Stick to it regardless of wins or losses.

Quite a messy journal LOL.

1548SGT

Hope I get many delivery orders later when I go to work that is all nearby and clustered. Heng Ong Soon Huat Ah!

Giving myself, my money, my strategy extra fighting chance by shifting my perspective. Instead of going for the Trendline, which would have caused me to get stopped out by now, I choose to go with the Market Structure instead, and the fight has just began.

It is true I focus on every single trades because even though I like to believe that results isn't everything, but if one trades for long and still gets no results(positive or otherwise) then what is the point of doing anything at all?



If all else fails, the floor is there, waiting for you.

1808SGT

Barely touched the stop loss, again.

1337SGT 19092022

Not trading this week real money this week.

Wins and losses, intended and unintended decisions to add and subtract certain rules, ways of thinking and looking at things has muddied my vision, and all of this is just part of exploration of the vast ocean.

Child's play, it is. We are all small children in adult bodies. And play keeps the child within alive. I feel that trading is just like a child with his box of legos, you piece the bricks together, take it apart and keep repeating the process until you make something that you want to keep, that makes you feel a certain way.

If you are stuck on the tall castle like Rapunzel and you need to use your dress, bra and undies as a rope to get down, you do it, and then your life can progress.

I feel that I have mapped out the wants and don't wants of my trading strategy, rules and checklists more than before I started 4 months ago.

Strategy

 

1. Your chosen market condition
2. Your higher time frame and criteria
3. Your confirmation time frame and criteria**

**Optional

Setups

 

1. 60SMA / Micro Consolidation / Channels

Order Parameters

 

1. Amount of Orders per trade
2. TP in R for your Orders
3. Entry Price
4. SL Price
5. TP Price

Market Condition met on Higher Time Frame? Hit

Market Condition unmet on Higher Time Frame? Run

Weekly Max Drawdown _____% upon total %
Overall Max Drawdown _____% upon total %



That's not all but that is what I have wrote in my physical journal for now. Should I lose my physical journal I hope this online copy stays. 1359SGT

Time to feed fishes and on the light

1801SGT 28092022

I think something is up. Yesterday when I traded GBPCHF and today's NZDHKD has been losses. Small losses, cos I risk only 1% yesterday and today.

What once used to work earlier this year has been nothing but losses after losses, and I almost hit the amount where I began with at 80$+.

I think it might have something got to do with either the timing of the year where certain months doesn't work as well.

1236SGT 30092022

Wanted to go work in the morning but alarm didn't ring, so, im going in the evening instead.

Forcing square pegs into round holes.

That could be why I am going through this "long" drawdown.

It worked previously because the market condition favors the 10/20ema, but now that the market condition has changed, I still forced it to fit the 10/20ema by trying to get every little bit of 10/20ema trend to work, instead of looking at what truly works.

4Hour -

I feel the 4Hour is pretty standard. It has to respect the 10/20ema. How to know that it truly respects the 10/20ema? Just plug the 10/20ema in and look across the screen. If price fits the 10/20ema, then it is respecting the 10/20ema.

what about this?

10/20ema


vs

60SMA

Definitely the 60SMA look much smoother. It might fit the 50EMA more tightly.

50EMA

Almost same, and the protrusion did touch the 50EMA.

What about this then?

Price has been respecting the 10/20ema nicely, but now there is a protrusion? What if price later continues to move in accordance to the 10/20ema again? So, does it mean that price is respecting the 10/20ema again?

...1333SGT fed the fishes, fertilised the aquarium and now am back.

I think,

if the price isn't respecting the 10/20ema, it isn't neccessarily not trending, but that it is trending on other moving averages.

So, if 10/20ema isn't trending, check the 60SMA. I am not going to trade trends based on the 60SMA for now, maybe I will do a forward test on demo account.

---

If price seems weird on the 10/20ema,

check the 60SMA or 50EMA

Looks better now, right? Now my heart balance LOL. It's just transition from Strong Trend to Healthy Trend(Rayner Teo)

1350SGT Ai zai

1128SGT 20102022

Funny Moment from my Idol before I begin my journaling.



---

I haven't been trading for the past few weeks because the market conditions are not respecting my requirements.

I have also realised something new.

When price doesn't respect one set of rules, it is respecting another set of rules.

Instead of focusing on just the 10/20ema on the Hourly Time Frame, I have decided that, if it doesn't respect the 10/20ema, I would look at the other Moving Averages. Just the common ones like, 50EMA, 100EMA, 200SMA, 100SMA, 60SMA.

Examples that doesn't respect the 10/20ema but respects other moving averages.



---

Another thing is, I have decided to consider setups only after it has respected a moving average twice, entering on the 3rd time onwards.

It would depend on how the price moves though, after the 3rd time because price is going to retrace on the higher time frame, just that we do not know when.

---

A last thing is i feel that when price keels over in this manner, it is a sign that it has stopped respecting this moving average it has previously respected.

Zoomed out


Zoom in

It is abit like a series of small candles forming a inverted U shape(for bullish markets), and the moving average also seem to be forming a inverted U shape.

Even if price touches the moving average for the third time, I would not enter on it because based on my experience, this is a sign that price is retracing on the higher time frame.

1200SGT