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Bagovino Method

  • #2,161
  • Jun 8, 2007 9:35am Jun 8, 2007 9:35am
I just started reading from the beginning...and have been reading the last posts also. Bagovino's first post says....5 and 12 EMA....21 RSI all on the 1 hour chart....my ? are: are you now using the 15 min chart? What pairs work best? I am far from an expert but I like the 5ema and the 8 sma....I want to say how thankful I am to have found this site...thanks for the community that is so helpful and giving...thank you to all...
  • #2,162
  • Jun 8, 2007 10:22am Jun 8, 2007 10:22am
Hi guys,

I want to first start off by thanking each and everyone of you for your interest in my thread. I want to especially thank Strada and Marco for tweaking my system to the 10min chart and renewing my interest (and everyone else's) in this system. I have to admit, I abandoned this method to persue others with little success. It wasn't until I saw Strada and Marco trading it on 10 and 15 min TF's that I looked at my system again. After spending 3 days trading it on the 10 min TF I cleared all the other systems off my screens (except 1 that I use for confirmation only) and traded this exclusively again.

To clear up a few things.... I have to say, I favor the 5 EMA & 8 SMA cross with the RSI 21. This is what I use. I see it gets you in and out of trades quicker with better accuracy. I also use a few other indicators.

I am going to break this into 2 posts so it isn't so long winded.

Bagovino
"Skills pay the bill's!"
  • #2,163
  • Jun 8, 2007 10:42am Jun 8, 2007 10:42am
Quoting bagovino
Hi guys,

I want to first start off by thanking each and everyone of you for your interest in my thread. I want to especially thank Strada and Marco for tweaking my system to the 10min chart and renewing my interest (and everyone else's) in this system. I have to admit, I abandoned this method to persue others with little success. It wasn't until I saw Strada and Marco trading it on 10 and 15 min TF's that I looked at my system again. After spending 3 days trading it on the 10 min TF I cleared all the other systems off my screens (except 1 that I use for confirmation only) and traded this exclusively again.

To clear up a few things.... I have to say, I favor the 5 EMA & 8 SMA cross with the RSI 21. This is what I use. I see it gets you in and out of trades quicker with better accuracy. I also use a few other indicators.

I am going to break this into 2 posts so it isn't so long winded.

Bagovino
Ok Bagovino I can say where all waiting for those posts.....so please do Thanks
  • #2,164
  • Jun 8, 2007 10:51am Jun 8, 2007 10:51am
Ok,

I always play with indicators for confirmation only. The basics are really all you need, but if you like to look for some added security in your trading, like I do, you may find some of this helpful.

Like I said... I use a 5 EMA / 8 SMA cross with RSI 21 on 10 min charts. Now, I mentioned I ventured off to other systems and abandoned mine. We'll there is a reason for everything and the reason was I guess to learn a few other successful tools to improve my trading. So here are a few things I use to trade even more successfully...

Multi time frames. I look at this system on the DAily, 4hr, 1hr, & 30min. This is just to get a feeling for the main direction of the currency. If it is trending down on most time frames I'll favor trades in that direction. Don't get too hung up on this though, because as Strada said... You will miss many great trades going the other way. I just have more faith in signals that go with the long term trend and tend to stay in them longer for greater pips... However, I will still take a signal against the trend if it looks good. 2 more things on multi time Frames... 1. I look at the 30 min chart with this system and almost always only take trades that agree with it's direction. So if the 30 min. shows a currency trending up, The 5/8 crossed up and the RSI 21 over 50, I will usually only take long signals on the 10 min charts. 2. Heiken Ashi Smoothed... You may remember a trader by the name of Steinitz here on FF not too long ago. He was big on the Heiken Ashi Smoothed indicator. This is a great method... I use part of it with my system. I will post a chart of it below. All I do is look at the little blue and red boxes in the indicator window. I used to trade with a huge success rate using only these boxes. It catches every move for atleast 10 pips. Anyway... What it does is basically show which way each Time Frame is trending. So I'll look at it from the Daily down... If I see Daily, 4hr, 1hr, 30 min all blue but the 5min and 15min are red I see the trend is long... Now when I get a long on my system I wait for the 5/15 min Boxes to go blue and jump in!!! Now I dont always consider the higher time frames... Again I just look at them to get a general feel. I will trade against them with a good signal.. However, I WILL NOT trade against the 5/15min boxes!
So in short, I get a long signal on my system, I take it only if the 5/15min boxes are blue on the HAS indicator and short only when they are red.

I will post a pic of it below and cut this post here.

Bagovino
Attached Image
"Skills pay the bill's!"
  • #2,165
  • Jun 8, 2007 10:59am Jun 8, 2007 10:59am
I took this trade as I was typing my last post for 10 quick, easy and secure pips... The HAS indicator turned blue on the 5,15 min. boxes and tipped me off to some movement... I looked at my 10min and saw a long signal and jumpep in and out for 10 pips!

This is an extreme scalp and would not reccommend it to beginners. I just have such a great feel for this HAS indicator that I know how to get in and out perfectly for a quick scalp!

Bagovino
Attached Image
"Skills pay the bill's!"
  • #2,166
  • Jun 8, 2007 11:01am Jun 8, 2007 11:01am
bags,

thanks for the updates. could you post that mtf has indicator? thanks!
Life is too short to have anything but delusional notions about yourself.
  • #2,167
  • Jun 8, 2007 11:18am Jun 8, 2007 11:18am
Here are the rest of my "Bag" of tricks! I'm really giving it all up to you guys without holding ANYTHING back! Man I hope this comes back to me with some good Karma somehow... Ha! Ha!

Ok...

Other indicators for comfirmation are...
ADX. I LOVE IT! This indicator will keep you out of trades when there is no momentum or strength behind a move. It will also let you know when you have some meat to a move and jump in. I use it set to standard which is 14. I have a line at 22 and one at 42. I will not go into how to use the indicator... If you dont know how it works goole it. I will say that I wait for the indicator to pass the 22 mark before I consider the trade. When it hits 42 I take notice because the move may be out of steam soon.

RSI 5 with a tweak... I looked at the RSI 5 and saw it needed something. So what I did was add an 8 SMA to it applied to "First Indicators Data". I also overlayed another 8 SMA applied to "Previous Indicators Data". Look how the 8 SMA's show you the dominant trend! Look for the 5 RSI to go in the same direction as the 8 SMA's.

i-Trend... Do we need it? Probably not, but it makes me feel better!! OK!!!
It's self explanitory!

Pivot Points... The first trading method I learned. They are great to use as support and resistance. I use them more for profit targets.. They are almost always hit!

So that's all folks! I will post a pic of my 10 min trade screen to further explain these indicators... You will be able to see all the signals line up as I took the quick 10 pip scalp I mentioned earlier.

Just imagine... If it catches tiny moves like this, imagine how good it catches the huge ones!!!!

Bagovino
Attached Image
"Skills pay the bill's!"
  • #2,168
  • Jun 8, 2007 11:25am Jun 8, 2007 11:25am
Here is my template for the HAS indicator. Put it on the 5min time frame. I called it Naked Top Dog... Nevermind!



B.
Attached File(s)
File Type: tpl naked top dog.tpl   39 KB | 960 downloads
"Skills pay the bill's!"
  • #2,169
  • Jun 8, 2007 11:27am Jun 8, 2007 11:27am
Hey Bago , 8 SMA is simple or smoothed. and are they both apply to close.

Also could u please post the HAS indicator that we can see on your chart.

Do the MA cross has and RSI cross of 50 has to happen at the same time bec today while i was watching this system in action i noticed that the MA 5/12 crossed but the RSI crossed a little later. is ok to enter the trade at that point if the price is trending in that direction or is it better to let go and wait for the next cross.

sorry one last question., would 5/8 work on 15min Time frame . if not i will try to include a 10 min Tf as explained in a previous post.
Thankyou in advance .
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #2,170
  • Jun 8, 2007 12:55pm Jun 8, 2007 12:55pm
Quoting bagovino
I took this trade as I was typing my last post for 10 quick, easy and secure pips... The HAS indicator turned blue on the 5,15 min. boxes and tipped me off to some movement... I looked at my 10min and saw a long signal and jumpep in and out for 10 pips!

This is an extreme scalp and would not reccommend it to beginners. I just have such a great feel for this HAS indicator that I know how to get in and out perfectly for a quick scalp!

Bagovino
Hi Bag...

does the HAS indicator repaint ??
cuz when i switch to several TF and go back to 5 M TF, it repaint

how can you get the feel of it ??
Every moment in the market is unique
  • #2,171
  • Jun 8, 2007 1:42pm Jun 8, 2007 1:42pm
I think we should test a set of indicators that give the best results and stick to those, too many indicators and too many timeframes will just keep you in doubt especially those new guys in forex. However I like that chinese indicator that scans thru numerous time frames BUT KEEP IT SIMPLE!
"All good things come to those who wait..."
  • #2,172
  • Jun 8, 2007 1:46pm Jun 8, 2007 1:46pm
My 10 min chart updates for a while then stops.

what causes this does anyone else have this problem?

I did check the dll thingy.
  • #2,173
  • Jun 8, 2007 2:04pm Jun 8, 2007 2:04pm
Quoting BIL2205
Hey Bago , 8 SMA is simple or smoothed. and are they both apply to close.

Also could u please post the HAS indicator that we can see on your chart.

Do the MA cross has and RSI cross of 50 has to happen at the same time bec today while i was watching this system in action i noticed that the MA 5/12 crossed but the RSI crossed a little later. is ok to enter the trade at that point if the price is trending in that direction or is it better to let go and wait for the next cross.

sorry one last question., would 5/8 work on 15min Time frame . if not i will try to include a 10 min Tf as explained in a previous post.
Thankyou in advance .
8 SMA is Simple applied to the close. Yes you can use it on ANY time frame.

I think the HAS indicator was posted a few messages back as a template.

The crosses do not have to happen at the same time. You can enter if the RSI crosses after the MA's, although I recommend waiting for the 10 min bar to close before entering.

Bag
"Skills pay the bill's!"
  • #2,174
  • Jun 8, 2007 2:10pm Jun 8, 2007 2:10pm
Quoting andimozza
Hi Bag...

does the HAS indicator repaint ??
cuz when i switch to several TF and go back to 5 M TF, it repaint

how can you get the feel of it ??
It doesn't repaint, but it is happening in real time. Meaning price may be on the border line making the box change from blue to red. When the bar finally closes is will retain the same color, so it will not repaint after the close of the bar.

I do refresh from time to time though. Which means I'll change the TF to like 1hr then right back to the 5min just so the indicator refreshes faster.

As far as how to get a feel for it... Just throw it up on your charts and watch what it does when my system gives a signal. I got a feel by actually trading it real time. That's the best way to learn this indicator.

Bagovino
"Skills pay the bill's!"
  • #2,175
  • Jun 8, 2007 2:18pm Jun 8, 2007 2:18pm
Quoting lostfx
I think we should test a set of indicators that give the best results and stick to those, too many indicators and too many timeframes will just keep you in doubt especially those new guys in forex. However I like that chinese indicator that scans thru numerous time frames BUT KEEP IT SIMPLE!
Keep you in doubt??? Not me. Trading this way actually reinforces taking the signal. The proof is in the pudding... 2 weeks of all winning trades. Some small, some large, but all winning!

These are the indicators which I stick to. I do not look at anything other than what I mentioned above. I basically take the signal off the MA cross and RSI. All the other stuff just gives me a feel of how long and strong the move may be. It helps me with exits as well. When the indicators begin to change direction and we are near a pivot... TAKE THE MONEY!

Again, All I wanted to do was to reveal to everyone here EXACTLY what I do. If you agree with it or not is your personal opinion. Everyone trades differently. I wanted to share with everyone what has been working amazingly well for me. Maybe you will just like one of my ideas and use it in your own trading to better. I'm not saying do it exactly like this or your doing it wrong!!! I'm actually hoping someone tweaks what I have posted a bit to make it even better... Just like changing the 12 EMA to 8 SMA... and the 1hr chart to the 10min chart... BRILLIANT!

Bagovino
"Skills pay the bill's!"
  • #2,176
  • Jun 8, 2007 2:39pm Jun 8, 2007 2:39pm
Hey bags,I got this info from stocks & commodities magazine about the "ADX" indicator: below 20 no trend,above 25 trending market use standard settings.when either the positive or negative line crosses each other and the "ADX" line go long or short,and it is on the money each time! thank you for your method:5/12ema rsi 50 works great for me!
  • #2,177
  • Jun 8, 2007 2:45pm Jun 8, 2007 2:45pm
[quote=monikroc;1462258]Hey bags,I got this info from stocks & commodities magazine about the "ADX" indicator: below 20 no trend,above 25 trending market use standard settings.when either the positive or negative line crosses each other and the "ADX" line go long or short,and it is on the money each time! thank you for your method:5/12ema rsi 50 works great for me![/quote


In a nutshell that's basically it! Like I said... I use it to keep me out of no momentum trades.


B.
"Skills pay the bill's!"
  • #2,178
  • Jun 8, 2007 2:45pm Jun 8, 2007 2:45pm
Quoting bagovino
I took this trade as I was typing my last post for 10 quick, easy and secure pips... The HAS indicator turned blue on the 5,15 min. boxes and tipped me off to some movement... I looked at my 10min and saw a long signal and jumpep in and out for 10 pips!

This is an extreme scalp and would not reccommend it to beginners. I just have such a great feel for this HAS indicator that I know how to get in and out perfectly for a quick scalp!

Bagovino
I want to start by saying this is a great thread. I don't post here because I rarely trade this method. I trade the New York session and it seems that most of these signals occur overnight for me here in the Midwestern US, but all you guys here are just knocking 'em out of the park. Keep it up.

Bago, I'm interested to see what develops with this HAS thing. Reading your stuff here prompted me to go over and look through Steinetz's thread. He's a little off kilter but certainly interesting. The thing that gets me is how much this HAS reminds me of Forex Made Easy (yes I'm an 4XME refugee), with the getting all the colors lined up and all that. I don't use it anymore, but I've always thought 4XME could be a good tool when used along with some real technical analysis, so I'm very interested to see your results. Maybe this will help produce some trades during my time.

Have a good weekend everybody, and I'll be back next week.


Richard
  • #2,179
  • Jun 8, 2007 2:50pm Jun 8, 2007 2:50pm
Quoting Richard7
I want to start by saying this is a great thread. I don't post here because I rarely trade this method. I trade the New York session and it seems that most of these signals occur overnight for me here in the Midwestern US, but all you guys here are just knocking 'em out of the park. Keep it up.

Bago, I'm interested to see what develops with this HAS thing. Reading your stuff here prompted me to go over and look through Steinetz's thread. He's a little off kilter but certainly interesting. The thing that gets me is how much this HAS reminds me of Forex Made Easy (yes I'm an 4XME refugee), with the getting all the colors lined up and all that. I don't use it anymore, but I've always thought 4XME could be a good tool when used along with some real technical analysis, so I'm very interested to see your results. Maybe this will help produce some trades during my time.

Have a good weekend everybody, and I'll be back next week.


Richard
Richard,

This will absolutely work for the NY session... I'm stuck trading the lame London open because I'm on the West Coast. I wish I could trade the NY open... That's where the big moves are!

Give it a shot... I'll bet you it works great!

Bagovino

P.S.
Once upon a time, I too fell into the 4x Made easy scam! Dont feel so bad!!
"Skills pay the bill's!"
  • #2,180
  • Jun 8, 2007 2:58pm Jun 8, 2007 2:58pm
Bagovino, thanks for reply. I do not want to discourage anybody from yoru methods. They are excellent and they work great for me as well. Thanks for explanation. I just had an impression that you are waiting for all the indicators to line up to take a trade....
"All good things come to those who wait..."
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