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Bagovino Method

  • #2,241
  • Jun 11, 2007 2:16am Jun 11, 2007 2:16am
Watch out for the GBP/USD long its running into the 100sma on the daily thats very strong resistance 1.9705.......
  • #2,242
  • Jun 11, 2007 2:19am Jun 11, 2007 2:19am
Thanking U 4 the complament bago
Sideways big time can we say 1 pip spread stoch on a 1min chart (in my dreams)
U/J -2
  • #2,243
  • Edited 3:04am Jun 11, 2007 2:52am | Edited 3:04am
Nice looking signals on AUDUSD and AUDJPY in progress 5/12 21RSI 10m TF

Nothing seems in any hurry to go anywhere at present, I watch 9 pairs and they are all very mixed up this morning.
  • #2,244
  • Jun 11, 2007 3:13am Jun 11, 2007 3:13am
E/F -12 ouch
  • #2,245
  • Jun 11, 2007 3:20am Jun 11, 2007 3:20am
If anyone got in the audusd above watch for fridays daily high coming up in a few pips.

Same on the audjpy, fridays daily high coming up


profits taken on both (+10) and (+20), not confident they will break the daily highs
  • #2,246
  • Jun 11, 2007 3:50am Jun 11, 2007 3:50am
Hi everyone

New to the forum

This thread is very beneficial and a big thanks to the creator and those who have given their input

My questions concerns the 10' Bag method

Does anyone have a re entry plan when the original entry might go astray - ie £/$ this morning - keep the same signal set up, or something different?

All help appreciated

Regards Gwaihir
  • #2,247
  • Jun 11, 2007 3:59am Jun 11, 2007 3:59am
Quoting gwaihir's wings
Hi everyone

New to the forum

This thread is very beneficial and a big thanks to the creator and those who have given their input

My questions concerns the 10' Bag method

Does anyone have a re entry plan when the original entry might go astray - ie £/$ this morning - keep the same signal set up, or something different?

All help appreciated

Regards Gwaihir
Hi Gwaihir

Welcome to the bago community. Can you tell us which 'original signal' you refer to?

strada
  • #2,248
  • Jun 11, 2007 4:18am Jun 11, 2007 4:18am
Quoting scorpion
Nice looking signals on AUDUSD and AUDJPY in progress 5/12 21RSI 10m TF

Nothing seems in any hurry to go anywhere at present, I watch 9 pairs and they are all very mixed up this morning.
Morning Scorpion

Some nice profits for you earlier, glad to see someone in profit!!

Think you're right about the lack of momentum, GU & UJ have tested their overnight hi/lo's and still within the range. Hoped that the 9.30 news might have budged GU out of the doldrums but not yet.

Do you have a multi screen set up to watch your chosen pairs?

rgds, strada.
  • #2,249
  • Jun 11, 2007 4:28am Jun 11, 2007 4:28am
Hi strada

Well I have set up the 10' TF as follows:

5/12 MA , 21 RSI

also have in addition the ADX set at +22 and running a 5 RSI as well

there were signals at 6.20am long - no ADX confirmation, 8.30am short and 9.20am long ( the 9.20 was a MA cross )

I don't like to enter cable prior to Frankfurt open (7am UK)

Today did have a news release at 9.30am that caused some choppiness

over to you...

Gwaihir
  • #2,250
  • Jun 11, 2007 4:28am Jun 11, 2007 4:28am
Had a couple of screens until last week when the power supplies both gave up at the same time, still trying to replace them, there must be over 100 different ones.

As you say, dull day so far, on days like this when there are a few false signals around in and out of 50 do you have anything you use to try and ascertain the "real" start of moves.

Bag uses ADX but I can't seem to get on with t.
  • #2,251
  • Jun 11, 2007 8:54am Jun 11, 2007 8:54am
Not a good day to start posting trades. Monday and now news.

Maybe Mr. T will give things a boost in a hour.
  • #2,252
  • Jun 11, 2007 9:36am Jun 11, 2007 9:36am
Quoting bagovino
So you guys seem to favor a new thread for the 10 min strategy? I'd hate to see this one die!

I have an idea... About 6 months ago Merlin asked if I'd be interested in my own sub forum. I declined because back then I didnt have the time to give it proper attention. Things have changed since then and I should be able to contribute regularly.

If someone would get a hold of Merlin (I dont really know how) and ask if the offer for a Bagovino Sub-Forum is still good, we'd love to have it! This way we can have all methods in one place on different threads and even open new ones... like a "Live Trade Thread!!!".


Thanks,

B.

I might be a little late responding to this. Bagovino admits that he sometimes lacks in patients and favoring the 10 min TF, makes sense. ..This system trades well in any TF, not everyone is caught up in just 10 min TF. Users of other TF will add insight. To kill off this threrad for the 10 min TF would be a mistake. A Sub Forum for the Bagvino Trading has my vote.

great thread/system Bag, congratulations!

generalz
  • #2,253
  • Jun 11, 2007 9:48am Jun 11, 2007 9:48am
Hey Guys,

I am using Spot Trader Trade Station based on the metatrader software. i only trade using a demo account. i have come accross the following error and was hoping that someone could assist.

After returning to the Computer After a while, i saw my charts was not updating, then i had a look at the journal to see the message and it was.
"'6552':Connection Failed[No Connection]"

i would hate for this to hapen on a live system, as i cannot close / open any deals!!!!

PLease help!!!
  • #2,254
  • Jun 11, 2007 10:03am Jun 11, 2007 10:03am
Sounds like a problem with your ISP rather than the software, maybe put a new thread in the general section where more people will see it, someone may be able to help.

I have never used Tradestation so don't know the inner workings.
  • #2,255
  • Jun 11, 2007 11:36am Jun 11, 2007 11:36am
Quoting gwaihir's wings
Hi strada

Well I have set up the 10' TF as follows:

5/12 MA , 21 RSI

also have in addition the ADX set at +22 and running a 5 RSI as well

there were signals at 6.20am long - no ADX confirmation, 8.30am short and 9.20am long ( the 9.20 was a MA cross )

I don't like to enter cable prior to Frankfurt open (7am UK)

Today did have a news release at 9.30am that caused some choppiness

over to you...

Gwaihir
Hi Gwaihir

Apologies for not coming back earlier, after the dreadful start this morning decided to take some time out and attend to some other stuff. Having looked at the charts for the pairs I trade I'm glad I did, all tight ranges.

If you don't like trading GU prior to the Frankfurt open you would have fared better than I did this morning. After 7 there were no trades, or put it another way by the time there was a tradeable signal it would have been obvious that a tight range had set in, continuing from the asian session.

With regard to re-entry there are various things to look out for. If the 5 bounces off the 12 and continues in the same direction as before AND price is in a fairly well established trend from the original signal then OK to enter then. If the trade has been exited for news and the signal bar after the news confirms the previous move then again OK to enter. If a trade has been exited on SL and/or a recross but then reverses again back into the original direction with a full signal on 5/12 & RSI this is a difficult one. There may have been a sizeable loss on the trade just exited so it takes a lot of courage to go back in possibly at a much worse price than the trade before and especially if the SL was just hit on the nose before price reversed. Sometimes you just have to call it a day!!!

There are times when for whatever reason you miss a signal. There is nothing more frustrating than being the spectator of a really good trade in such a situation. Well don't despair, remember that Bago's method works very well on all sorts of TF's. Take a look at 30' or the hourly, you can always take your lead from them.

On the GU signals you mentioned earlier the 6.20 was preceeded by a signal at 6.00 (ie at the end of the 5.50 bar which I took and was fortunate to exit with a small profit just before the 9.30 news but it was a rocky ride. The 8.30 you mentioned; I think you may have meant the 7.30-7.39 bar? At the end of this bar price was back on the rise and continued rising through the next bar. Price bounced quite convincingly off the overnight lows so there was obviously some support here and it bounced again on the 8.30 & 9.10 bars. The 9.20 was up against a RED coded news release so for me that couldn't be traded.

Hope this helps, strada.
  • #2,256
  • Jun 11, 2007 12:17pm Jun 11, 2007 12:17pm
Quoting strada
Morning Grant

No, I don't trade every signal, we have to use discretion with this.
If we 're in a sideways/choppy market we want to see a positive break from the range.
If there is news approaching that can have an impact on the pair it is best to stay out until at least the end of the first bar after the news, very often these are excellent signal bars.
If there is a signal but price is moving in the other direction both at the end of the signal bar and start of the new bar, then watch this before committing to the trade.
If a signal bar closes close to a S/R then use caution here. If the momentum looks solid towards the S/R then I'll enter otherwise I may wait to see if there is a break or a bounce.

I trade the European session, 6am until around 4pm.

At 6.30 have opened shorts on EJ & UJ, looks like GU might be lining up a signal too.

strada.

UPDATE: EJ TP1 for 30: UJ TP1 for 20; GU misses TP1 for 20 by 1 on two occasions, patience patience!!

When I looked this morning (at work now) and last night my thought was most of the markets were ranging and the ADX's were low and flat. I used some of STRADA's suggestions to stay out. Maybe tonight it will be moving again.

generalz
  • #2,257
  • Jun 11, 2007 12:59pm Jun 11, 2007 12:59pm
What does a guy have to do to get 5 stars around here?

B.
"Skills pay the bill's!"
  • #2,258
  • Jun 11, 2007 1:09pm Jun 11, 2007 1:09pm
Quoting scorpion
Had a couple of screens until last week when the power supplies both gave up at the same time, still trying to replace them, there must be over 100 different ones.

As you say, dull day so far, on days like this when there are a few false signals around in and out of 50 do you have anything you use to try and ascertain the "real" start of moves.

Bag uses ADX but I can't seem to get on with t.
Scorp,

ADX, I just use it to keep me out of bad trades. I sometimes make trades out of nothing because I'm impatient. It just kept me out of 2, what would have been bad trades this morning. If the ADX isn't over the signal line I dont even think about taking the trade.

B.
"Skills pay the bill's!"
  • #2,259
  • Jun 11, 2007 1:13pm Jun 11, 2007 1:13pm
Quoting bagovino
What does a guy have to do to get 5 stars around here?

B.
Here's your stars big guy. Don't worry; everybody's probably bummed 'cause it's such a lousy trading day.


Richard7
Charter member 4XMade Easy Anonymous

Hi, my name is Richard, and I'm a 4XMEaholic....
  • #2,260
  • Jun 11, 2007 1:24pm Jun 11, 2007 1:24pm
Quoting bagovino
Scorp,

ADX, I just use it to keep me out of bad trades. I sometimes make trades out of nothing because I'm impatient. It just kept me out of 2, what would have been bad trades this morning. If the ADX isn't over the signal line I dont even think about taking the trade.

B.
Say, here's a neat little indicator that shows the ADX values from several different time frames on one chart, sort of MTF for ADX.

R
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