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Bagovino Method

  • #1,121
  • Oct 26, 2006 1:36am Oct 26, 2006 1:36am
I thought a "rave" was a dance but this is just as good, oh and by the way, well said brother....
  • #1,122
  • Oct 26, 2006 1:40am Oct 26, 2006 1:40am
Ouch! Truth really hurts...Such a wake-up call...Great post mate!

Quoting bagovino

I posted this to help, not bash, so please do not take it the wrong way. However, take it in and think about it. Is this you? I'm sure it's 95% of you! I know it's 95% of you because it's the one thing the 5% of successful traders do not do!

I hope this helps!

Thanks for listening!

Bagovino
  • #1,123
  • Oct 26, 2006 3:10am Oct 26, 2006 3:10am
Quote
I posted this to help, not bash, so please do not take it the wrong way. However, take it in and think about it. Is this you? I'm sure it's 95% of you! I know it's 95% of you because it's the one thing the 5% of successful traders do not do!

I hear ya. It is so easy to try a method for such a short period of time and move on. I have done it so many times. The ultimate is the EA. Until then, I am just beginning to realize I like scalping. In and out. Make 3-5 or lose 4-7. Maybe use a crossover. I have learned that JUST HAVING A SYSTEM and really implementing it, diligently, for at least a month, allows you to see how price moves and the room it needs to get in the profit area. Those ticks go back and forth like a sea saw. Finding the right stop to profit combination is the ultimate key. How much do you need to risk every trade to let it happen, and at what point is the trade no longer valid and it is time to cut your losses and move on.
"Its not where your at, but where your coming from"
  • #1,124
  • Oct 26, 2006 8:03am Oct 26, 2006 8:03am
Bago:

This is the main reson why I am pulling my hair out teaching myself MQL. I see 'things' on a chart that catch my attention. If I only had an audible alert (or some other alert) when these 'things' happen...I'm working on it. Yes, it does have something to do with that old Stochastic thingybob. Your words are gold.

athalon7 (Matty!!):

"I have learned that JUST HAVING A SYSTEM and really implementing it, diligently, for at least a month, allows you to see how price moves and the room it needs to get in the profit area."

Everyone should read this 1000 times. If you still don't get it, never trade again.
  • #1,125
  • Oct 26, 2006 8:13am Oct 26, 2006 8:13am
Wow Bago I hear you on that post you had... i am with you on that one.
i use the 5/12 rsi system and have added a couple other verifying items and have stuck with my system for a good 2 months now and have had great results (im not going to brag!!!) but i took your system and stuck with it (keeping a system i already was using) and now feel this works great. PEOPLE! stick with what works its that simple....if you haven't figured that out yet, maybe you should leave the trading to someone else...........
4XPIPDADDY
  • #1,126
  • Oct 26, 2006 8:14am Oct 26, 2006 8:14am
Quoting bagovino
Guys,

I FOUND THE HOLY GRAIL!!!!!!!

Please take this from experience and save yourselves time and money!

I have searched the internet hours on end, looked at all the Forums, studied, paid for signals, ebooks, systems etc. for years....
And I found 1 thing. The secret of the Holy Grail...

Here it is:

Find one and only one system that works for you more times than not. Remember NOTHING IS 100%! Make sure it is something you are comfortable with and know like the back of your hand. Know exactly when to get in and out, how much money to risk etc... THEN STICK WITH IT AND "F***" EVERYTHING ELSE!!!!!!!

You will be successful. There is no way you can't. The reason people fail is they always think they will find a better, more accurate, profitable system. So they drop their current one, waste time and money looking through 100's more until they find one that works better than the 100 pieces of garbage they just wasted their time learning. They get effecient with the new system, get tired of it and look for a system even more accurate and profitable. Then repeat this cycle over and over again. Blowing out account after account.

The reason why I write this is one, it's something I've done myself, and two, I see it all over this Forum!!! People jumping from system to system. I see the names on one thread... "Oh, this is the most fantastic method ever!!!" Then next week I see the same names on another thread... "This system is incredible... I made 2,479 pips this week!!!!" Then the week after that they are on the bandwagon of another thread's system... STOP THE MADNESS!!!!!!

I posted this to help, not bash, so please do not take it the wrong way. However, take it in and think about it. Is this you? I'm sure it's 95% of you! I know it's 95% of you because it's the one thing the 5% of successful traders do not do!

I hope this helps!

Thanks for listening!

Bagovino
Amen brother, I have been guilty of sleeping around with different systems, only to get bored and go to the next one. Good post
  • #1,127
  • Oct 26, 2006 8:22am Oct 26, 2006 8:22am
Hi Guys,

It is true that people (including me for a while) keep jumping around and
search for ever to find the best system. Sticking with one system that works
is a very good way to go but in my humble opinion never forget that the markets are allways changing and you must check your system and keep
tweaking it for these changes. No not change to another system but finetune the one you have.
  • #1,128
  • Oct 26, 2006 1:10pm Oct 26, 2006 1:10pm
Hi Guy's,

I'm glad you all agree with my last post. I think I posted it not only to help everyone, but also as a self realization. I too sometimes wander only to come back to what I know best. Like you, I heard this advice before, but the trick is actually taking action and sticking to it!

So maybe everyone should think about what has served them best and promise yourself to stick with it for 6 months. Put on your blinders to every other system out there and stick to your one. Whichever it is. After 6 months, with proper money management mind you, see how you have done. I bet you will realize a nice return on your account!

4xpipdaddy, I'm happy to hear you tweaked my system to your own style and it's working... Stick with it!!! Also, if you don't mind, why don't you post your version here since it compliments and may enhance mine.

Thanks again for listening to my self preaching!!!

Bagovino
"Skills pay the bill's!"
  • #1,129
  • Oct 26, 2006 1:42pm Oct 26, 2006 1:42pm
What you think about this.

This is daily eur/usd chart

http://www.afa-nando.com/001.gif

Shows a possible short according to TL

Now, this is the hourly one

http://www.afa-nando.com/002.gif

´price has reached the 61 fib level from the botton of the last hourly donwtrend. I entered a scalp trade and waiting for bago signal for more lots. lets see.
  • #1,130
  • Oct 26, 2006 8:59pm Oct 26, 2006 8:59pm
bagovino,

do you wait until the close of a bar to enter, or can you enter mid bar" ?

Quoting bagovino
Hi All,

I just wanted to start a thread sharing the most successful Forex trading method to date!

I have caused alot of shake ups on other threads due to the domination of my method on their posts so I chose to start my own.

Here it goes... It's quite simple. On a 1 Hr chart, plot 5/12 EMA's. Plot RSI set at 21. When the 5/12 crosses up and the 21 RSI crosses above 50 you go long. When the 5/12 crosses down and the 21 RSI goes below 50 you short.

This method is proven to be at least 85% accurate!

I leave this thread open to any and all improvements. I thank you for your time and I hope this helps you all become more successful traders!!!


Bagovino
  • #1,131
  • Oct 26, 2006 8:59pm Oct 26, 2006 8:59pm
Hello All,
I have been reviewing this thread with interest, the system is simple and easy to follow but the key to most strategies is money management. An additional indicator that may help and that i have used successfully could be usefull here is the Parabolic SAR, change the step setting from 0.02 to 0.01 and apply to a 1 hour chart, you will be amazed at how accurately it will get you out of a trade and for more agressive trades will get you back in if the trend continues- you can even trade ranging markets when price bounces of the extremes like a ping-pong ball. Give it a try, i'd be interested in any feedback.
  • #1,132
  • Oct 26, 2006 11:02pm Oct 26, 2006 11:02pm
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  • #1,133
  • Edited Oct 27, 2006 1:09pm Oct 26, 2006 11:41pm | Edited Oct 27, 2006 1:09pm
Anybody try this method on the daily, and maybe increase the stops and targets? Here is the EUR USD Daily. Any thoughts on why the setup is good or bad? The green dotted double is the Vegas tunnel which it just blasted through.

I then added the one day later. Would have been a nice starting trade.
(the first image label should have been EUR USD)
Attached Images
"Its not where your at, but where your coming from"
  • #1,134
  • Oct 27, 2006 1:03am Oct 27, 2006 1:03am
Cosmo,

Good call to incorporate SARS.... I think the standard setting of 0.02 gives an earlier pre-cursor to the upcoming move. I would use it as a heads up, then look for the EMA and RSI cross to take the move. It's a good early warning.

Thanks,

Bago
"Skills pay the bill's!"
  • #1,135
  • Oct 27, 2006 1:11am Oct 27, 2006 1:11am
Quoting athalon7
Anybody try this method on the daily, and maybe increase the stops and targets? Here is the EUR USD Daily. Any thoughts on why the setup is good or bad? The green dotted double is the Vegas tunnel which it just blasted through.
Still learning, but check out raczekfx's post previous to your latest. There's a confluence of fib retracement, trendline break and significant number (2700) that MAY cause a retracement. So need to be careful. Also, by changing the system from a 1h to daily timeframe the lag time of the MA indicators has increased, so I think you'd need to be especially careful of such resistance/support areas. Raczekfx has posted other good examples of determining support/resistance areas in this thread that can give earlier entries. Thanks Raczecfx. They really reinforce the importance of looking at price action around support resistance areas as taught by the private forum.

Athalon7, thanks for your PM.
Cheers
  • #1,136
  • Oct 27, 2006 1:55am Oct 27, 2006 1:55am
Quoting johoma
Still learning, but check out raczekfx's post previous to your latest. There's a confluence of fib retracement, trendline break and significant number (2700) that MAY cause a retracement. So need to be careful. Also, by changing the system from a 1h to daily timeframe the lag time of the MA indicators has increased, so I think you'd need to be especially careful of such resistance/support areas. Raczekfx has posted other good examples of determining support/resistance areas in this thread that can give earlier entries. Thanks Raczecfx. They really reinforce the importance of looking at price action around support resistance areas as taught by the private forum.

Athalon7, thanks for your PM.
Cheers
Good point. Need to get that in my subconcious so it is an automatic check. I really appreciate the lesson. Still learning also.
"Its not where your at, but where your coming from"
  • #1,137
  • Oct 27, 2006 9:19am Oct 27, 2006 9:19am
..
Quoting johoma
Still learning, but check out raczekfx's post previous to your latest. There's a confluence of fib retracement, trendline break and significant number (2700) that MAY cause a retracement. So need to be careful. Also, by changing the system from a 1h to daily timeframe the lag time of the MA indicators has increased, so I think you'd need to be especially careful of such resistance/support areas. Raczekfx has posted other good examples of determining support/resistance areas in this thread that can give earlier entries. Thanks Raczecfx. They really reinforce the importance of looking at price action around support resistance areas as taught by the private forum.

Athalon7, thanks for your PM.
Cheers
..
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  • #1,138
  • Oct 27, 2006 9:41am Oct 27, 2006 9:41am
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  • #1,139
  • Oct 27, 2006 9:48am Oct 27, 2006 9:48am
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  • #1,140
  • Oct 27, 2006 12:41pm Oct 27, 2006 12:41pm
Quoting raczekfx
will it hold?
One thing I need to work out in my mind about fibonacci is it seem so arbitrary. Fair enough on where to place the grid, but there are so many places on that chart where fibonacci does not come into play: 1.1300, 1.1090, and 1.1195. And the question is: will it hold? Fibonacci can't tell us that, maybe one of the indicators. Please don't misunderstand. It just seems Fibonacci is a great way to explain certain points after the fact, but there seems to be as many points within that grid that don't line up either.
"Its not where your at, but where your coming from"
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