Bagovino Method

i took the same position

EMA stands for exponential moving average. Check your indicators list. Good trading.

Mat could you please explain how you draw your fibs?? I know how to draw mine but yours look a bit confusing


Thanks

Sertio, I woke up this morning and saw that not a whole lot had happened in AUD and it was now looking oversold on my CCI indicatator, so i liquidated my 2 contracts for a total of -6 pips (-3 each contract). Actually it is my fault, because I got into that trade about 10 pips too late. I broke my own rule about not chasing trades.

But thats OK because I also was long EUR/USD using Bago/fib and hit my target for total of 30 pips! Not a bad morning for 24 pips net!

I use the following fibs .250, .382, .500, .618, .786, .886, 1.000, 1.272, 1.618, 1.886

I just look for the last major move and draw the from the bottom of the low to the top of the high. I will try to give an example of a real world chart I am watching later today.

I too caught the EUR/USD move. As a result of my new system I'm building/testing, I saw this set up last night even before the move happened this morning (NY open... Morning for me!).

So far this new system is working out well. My set ups were showing a strong potential for a long on the Euro, so I just waited for the Bago System to trigger it and it enabled me to pull the trigger and take the trade with more confidence then ever before.


Bago

Just to give you a hint... It's Fibonacci based... What a surprise huh???
Anyway, it shows very accurately when a move is exhausted and ready to turn as it hits a fib line. This is the key because I know many people trading Fibs have no idea which Fib line price will stop and turn on. By using multiple time frames, fib set ups on each and only 2 indicators I can see a clear picture of where price will be heading in the upcoming session. Then, we pull the trigger with the original Bago system.

More info to come..


Bagovino

usd/Chf is going short bago/fibs right now-I just went short 2 contracts at 1.2494

Here is a pic to better illustrate how I used fibs for my current CHF short. This pic has no trendlines to make it easier to see my fibs.

This is the same chart with my trendlines so you can see how my chart looks when I decide to execute a trade. You can see that the chart has full Bago/fibs break/trendline breakdown. I entered 2 short at 1.2494. I have a stop at 1.2518 (just above .382 fib). My first profit target is at 1.2470 (just above 1.272 fib and my 2nd profit is at 1.2455 (just above 1.618 fib and above the pyschological numer of 1.2450). I evaluate my position at the first profit target and decide how the trade still looks. I typically liquidate one position, move up my stop the the first profit target and let the second position run. This way,even if the 2nd position turns against me, I still have profit locked in by moving up my stop.

I realize, I use a lot of other indicators besides Bago-but I'll tell you what, this Bago has really enabled me to put them all together with a reliable execution trigger that Bago has become for me!

I felt that it wasnt good- COG not optimal, MACD also, and about midle of Vegas, can you please bagovino analyse from your view this trade,
Thx

Brainjt,

I actually agree with your analysis (which shows how subjective trading is), but I trade with more emphasis on different indicators-and it appears we both use MACD, which was fine in my particular use of it. To me this trade is the kind that breaks down, retraces back up part (or most of the way), then finally back down to my profits. If I had to guess, I would think this will retrace to about .382 fib (at Bago cross) and then make its way back down again. But if it doesnt, I'll just have to take satisfaction that I was stopped out with a loss I could handle and just keep learning from my mistakes!

Seems to me as if the short already occured a few hours ago according the Bago method.

Profits taken on both of my contracts at 1.2470 for a total of 48pips! It did retrace to just below .382 fib and then dropped down below 1.272 fib! I decided to get both contracts out due to possible volatility of FOMC report. However if all looks OK, I may get back into this short trade again!

a lot of whipsaws today, if we had a ethod to eliiminate that even more would be great

I went short 1 contract AUD a few hours ago with Bago/fibs. I went short at .7523, with stop at .7537 and 1st profit at .7511

Why?

That's impossible......if it was possible, we would all be millionaires by now.

Thing is, most systems work good as long as the market is trending.

Unfortunately, the market does not trend all the time, and as a result we have times such as the last few days, during which you can't figure out where the market is heading.

That's when most traders lose the money they earned during the trending period, and end up breaking even or being negative with their account.

As a result, they place their next trades with fear and run into mistakes, until they end up saying :"screw you forex.....this thing sucks !" and they become just like most people who go around and say "investing is too risky, don't do it...you'll lose all your money."

Oh boy, it happens all the times.

The answer ? Money Management (remember, you can be profitable even with a 50-50 system as long as you do good MM) and knowing when big news is about to come, in order to completely avoid trading in those days.

Patience is a virtue.


Future

-Amen Brother!!

Summitfx-I entered the trade because:
1-There was a full bago cross (EMA's and RSI both crossed)
2-There was a crossing of my minor trendline
3-The .786 fib was crossed and became resistance (candle that is 2nd from right)
4. And lastly the risk/reward ratio was good. My risk was -14 pips and rewards was 12 pips. I always try to keep my risk/reward ratio about 1:1 or better. This was just slightly less than 1:1.

All these together make this a trade that I think gives me a good chance of profiting from.

Updated-All that being said, this trade did turn against me and stopped me out with -14 pips.

Usd/jpy just forming full bago!

Bagovino rocks,i am a total newb,i ve been trading real money for three weeks with micro lots. Seriously,nearly all trades that i have taken have been successful.It shows that this system is awesome when someone like me(lacking experience) can have success.Just caught spike on aus.