Monday, August 29, 2016
From the same family as the 3 Ducks and the Advanced 3 Ducks approach, DynoDuck is the Captain's latest trading strategy. Born in May 2016 this new strategy is still in it's early stages, call it a Duckling!
DynoDuck is a discretionary strategy that can take positions either with the 4 hour trend or against the 4 hour trend. The strategy will only trade these two different type of set-ups when the trade criteria has been met:
1. entry at pullback in an established swing/trend on the 4 hour chart.
2. reversal of established 4 hour swing/trend.
The average duration of a trade is 9.7 hours based on the last 30 days of data.
Reward/Risk (RR) ratio of a trade setup is estimated manually. If the RR ratio of a setup is favorable, a pending order may be placed to trade the setup. However, if the market is too volatile or if a major news release is due out, the setup will probably be ignored.
The average stop-loss size of a trade is 30 pips based on the last 30 days of data.
Finally, support/resistance levels, average daily range and time stop are used to determine the exit point for a trade.
A verified track record for this strategy can be seen here