Bago on Speed (Strada-Method)
I heard this term the first time in the bagovino thread (look here:http://www.forexfactory.com/showthread.php?t=7603).
I was searching this threat and the forum about "bago on speed" but i found only some postings...
This great Bago was making some Pips with his strategie.
OK, i give this a try , but the results was a little bad for me.
Later, on page 131 (!) from this thread, another trader called "strada" give some ideas.
And i think this is good enough, for a new strategie-threat because the results are more better
here are some important "old" postings:
another one give some suggestions:
well, i dont wont another EA-thread (because i will follow to trade with oanda), but if somebody has some ideas for to make this "bago on speed"-strategie better, please post this here.
trading with FX means to feel the market. no EA can give me this feeling.
i hope bago and strada will follow & answer the postings here.
thank you.
I heard this term the first time in the bagovino thread (look here:http://www.forexfactory.com/showthread.php?t=7603).
I was searching this threat and the forum about "bago on speed" but i found only some postings...
This great Bago was making some Pips with his strategie.
OK, i give this a try , but the results was a little bad for me.
Later, on page 131 (!) from this thread, another trader called "strada" give some ideas.
And i think this is good enough, for a new strategie-threat because the results are more better
here are some important "old" postings:
Hi Bago
Like some others have quoted before on here the original was the best and never needed fixing. After saying that I have to admit that I don't use the hourly but I believe the method is good enough to be used on any TF. My slightly amended version is below and it makes lots of pips every day:
TF - 10 min
EMA - 5/12
RSI - 21
5/12 cross and RSI cross of 50 and that's a signal but use some discretion and common sense plus avoid the news.
strada
Hi Strada could you please tell us which pairs you are tradeing and which platform do you trade with the 10 min TF also what amount of pips are you getting and how long have you been tradeing the method for sorry for all the questions but it would be really helpfull
With many thanks
David-T
Hello David-T
As of last Friday I've been trading cable with Bago's method (on 10 min TF) for 16 weeks and to date my weekly average is slightly over 200 pips per week.
I have recently started trading EJ & UJ as well and EJ is showing similar potential to GU. UJ is also very profitable but it always seems like very hard work.
I use the charts from one of the SB brokers I use and the charts are supplied by it-finance. These charts may not have all the bells and whistles that you get with MT4 etc but they give me the indicaters for Bago's method and I like simple uncluttered bar charts anyway so they work fine for me.
I work my trades in 3 parts (lots) like bago suggests with SL normally at 30 + spread (2 or 3 for above pairs). For SL however if there is a recross of the 5/12 I will normally exit rather than take a full hit on the full SL. TP will vary depending on the pace of the market, if it moves quickly TP 1 will be 30 (SL is set to BE); TP2 50-60 (SL is set to +20/30); TP3 runs until recross of 5/12 or if I see 100 I'll normally take it. I don't leave anything open overnight. If the market is slower TP1 will be 20; TP2 30/40; TP3 as before.
As a matter of interest this morning after the 9.30 MPC news the 9.50-10.00 bar gave a signal on cable. There were no obvious shocks from the 10.00 news so entered a long trade. Since then i've closed TP1 for 20; TP2 for 40; and cable has broken through 1.98 so Tp3 could do very well. SL for TP3 is set at +20 so minimum P/L for 3 lots will be 80 pips ie 26 pips profit for the trade.
The 10 min gets you in early but obviously it can also get you out early and not always with profit but overall I'm enjoying a high ratio of wins/losses so I don't lose any sleep over the losses.
By using discretion and common sense and being aware of certain market forces/obstacles in the form of strong SR and the psychological numbers (eg 1.98 and cable is now at 1.9820 so my tp3 is looking very good now) you can avoid a lot of false signals and keep the winning ratio up.
Hope this helps David, I do believe that you could use Bago's method in most TF's and be profitable. All the best.
strada.
another one give some suggestions:
200+ pips per week is about what I'm experiencing too.. by using the RSI/MA (8) instead of the RSI 21 and using an 8 SMA instead of the 12 EMA, I have found that I get, on average about 5 more pips per trade.
If there is a better system than Bago's, I've yet to see it.
well, i dont wont another EA-thread (because i will follow to trade with oanda), but if somebody has some ideas for to make this "bago on speed"-strategie better, please post this here.
trading with FX means to feel the market. no EA can give me this feeling.
i hope bago and strada will follow & answer the postings here.
thank you.
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