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Bagovino Method

  • #2,561
  • Edited 10:46am Jun 26, 2007 10:13am | Edited 10:46am
Nice profits during the European session were wiped out during weak moves of the US session. Profits were mostly the pound/yen; Euro/Yen; US/yen.
Next experiment:
RSI Five 80/20 buy-sell thresholds on the 30 min. window; trade around the clock.
All twelve currency pairs.
Glenn
  • #2,562
  • Jun 26, 2007 10:17am Jun 26, 2007 10:17am
Hi Bago,

I'd like to thank you for this thread and all the people who have contributed to it so far to make it a great system, MarcoW and Strada for the shorter time frame which suits my trading style better. I demo'd the speedbag system last week and made some nice profits in a tight market. I only aim to make a small amount each day and then get on with my real job.

I started trading live yesterday with the 10min speedbag method and took two trades for 10pips, nice start and was finished by 09:30(GMT).

I took a similar trade as you today Bagovino at 1.9977 around the same time. Both the 5/12 and 5/8 crossed down( i have both bullseye indicators on my chart), CSI crossed 50, sidewinder was green and we had closed under the pivot. Now it did rebound up for a drawdown of 9, but then went on down to the 55EMA on the 1hr where i sold. 10 pips

At 11:40(BST) price 1.9980 , it crossed up, all conditions were met and it was after 3 inside bars which strengthened the condition for me. I closed at 1.9997 which was Fib R1 and also near snake eyes, +17.

I'm going to try and be in the chat room that was posted on here a few pages ago from now on so hope to see some people in there.
  • #2,563
  • Jun 26, 2007 12:54pm Jun 26, 2007 12:54pm
Quoting jameesnior1
Hi Bago,

I'd like to thank you for this thread and all the people who have contributed to it so far to make it a great system, MarcoW and Stradafor the shorter time frame which suits my trading style better. I demo'd the speedbag system last week and made some nice profits in a tight market. I only aim to make a small amount each day and then get on with my real job.

I started trading live yesterday with the 10min speedbag method and took two trades for 10pips, nice start and was finished by 09:30(GMT).

I took a similar trade as you today Bagovino at 1.9977 around the same time. Both the 5/12 and 5/8 crossed down( i have both bullseye indicators on my chart), CSI crossed 50, sidewinder was green and we had closed under the pivot. Now it did rebound up for a drawdown of 9, but then went on down to the 55EMA on the 1hr where i sold. 10 pips

At 11:40(BST) price 1.9980 , it crossed up, all conditions were met and it was after 3 inside bars which strengthened the condition for me. I closed at 1.9997 which was Fib R1 and also near snake eyes, +17.

I'm going to try and be in the chat room that was posted on here a few pages ago from now on so hope to see some people in there.
I'm happy to see the system working out for you! You seem to understand that this is a discretionary system and not mechanical. That is exactly the way it is meant to be traded.

Please feel free to post some screen shots of your trades.

B.
"Skills pay the bill's!"
  • #2,564
  • Jun 26, 2007 1:01pm Jun 26, 2007 1:01pm
Quoting ForexDude
Ok, but why would someone enter 3 positions?

Is it not safer to enter 1 position? why 3? I really don't understand.

And you switched to the 10 minute time frame, because it's more accurate?

Thanks for the help.

I enter with 3 positions in case the trade runs away in my direction and I let the other 2 lots ride taking profit at different points based on pivots or support/resistance/fibs etc.

So an example is you get a signal and enter. I book my first lot for profit at the first pivot. I keep the other 2 open and set a stop loss at the last point of support or resistance. If the trade progresses further in my direction I'll book the 2nd lot of profits, again at my discretion. Then I'll usually set the stop loss for the last lot at +5 or so pips from my point of entry and let that baby run until it runs out of steam.

You dont have to trade the 10min. It's a personal choice. You can trade this system on any time frame you are comfortable with.

Bagovino
"Skills pay the bill's!"
  • #2,565
  • Jun 26, 2007 1:05pm Jun 26, 2007 1:05pm
Quoting watchout4me
Bago, can you comment on this?

I also notice, it seems 5rsi go to overbought, few bars later it rises vice versa for oversold,

can you check? can it be reliable?
It's all up to your personal preference. Whatever works for you. You have to put in some time and energy into testing these things on your own so you learn what works best for yourself. What I may find useful may not work for you and vice versa.

So when someone puts an opinion out there, throw it up on your charts and see if it works for you.


B.
"Skills pay the bill's!"
  • #2,566
  • Jun 26, 2007 1:12pm Jun 26, 2007 1:12pm
Quoting bagovino
It's all up to your personal preference. Whatever works for you. You have to put in some time and energy into testing these things on your own so you learn what works best for yourself. What I may find useful may not work for you and vice versa.

So when someone puts an opinion out there, throw it up on your charts and see if it works for you.


B.
This post should get you your fifth star!

Thank You, Bago!


FXS
  • #2,567
  • Edited Jun 27, 2007 1:34pm Jun 26, 2007 2:58pm | Edited Jun 27, 2007 1:34pm
I put this screenshot together of the two trades i took earlier today on Cable There were plenty of other opportunities on EUR/JPY , USD/CHF and EUR/USD.

In the screen shot, the light blue lines are Fib R1, Fib S1 , the purple line is the daily pivot, the deep pink line is a 330EMA which is the same as a 55EMA on the 1hr.

First Indicator Window is RSI21 in blue, RSI5 in yellow
Second window is the original Bullseye for the 5/12 cross
Third window is ADX
Fourth window is updated bullseye indicator for the 5/8 cross(this one is used as an early heads up and also confirmation purposes)
Attached Image (click to enlarge)
Click to Enlarge Name: 26-06-2007 trade1 gdp-jpy.jpg Size: 67 KB
  • #2,568
  • Jun 26, 2007 3:50pm Jun 26, 2007 3:50pm
Hey everybody,

I like some other users here in this thread are interested in this strategy but i know that this strategy has undergone changes and modifications. Would it be possible for someone to post a summary of the strategy for those of us like myself who seemed have gotten lost in the process. Thanks and God bless.
Live today as if you will stand before God tomorrow.
  • #2,569
  • Jun 27, 2007 10:19am Jun 27, 2007 10:19am
Going to post some more screen shots here of my trades today. Pretty choppy today and price was to near resistance levels for a lot of the crosses that were showing up.

I took two trades, 1 on EUR/JPY and 1 on AUD/USD. My SL on these were set to 10 as i don't really trade these currencies.

1:40p.m.(BST)
1lot Short of EUR/JPY at 164.48 , closed at 164.30 , +18pips

3:10p.m.(BST)
1lot Short of AUD/USD at .8405 , closed at .8392 , +13 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 27-06-2007 eur-jpy.jpg Size: 54 KB
Click to Enlarge Name: 27-06-2007 aud_usd.jpg Size: 57 KB
  • #2,570
  • Jun 27, 2007 11:00am Jun 27, 2007 11:00am
Alas, we may have rhythm. The robot likes the 30 min. window, and did fairly well over-night using RSI Five 80/20. There were some late entries, and a loss on the pound/dollar, but Bago's favorites saved the day: pound/yen; Euro/yen.
There were some losers and minor winners, too, the euro/dollar being one of the latter. Since I never seem to profit from the US/CAD, I axed it, and some of the weirdos, too. I think I will keep the Aud/dollar, which made a few good bucks.
Overall, it was a satisfying night. It resisted entry into anything during the US market. The tighter threshold of 80/20 seems necessary. Not yet a cake, but the dough is rising. (pun intended) Glenn
  • #2,571
  • Jun 27, 2007 12:03pm Jun 27, 2007 12:03pm
Quoting C.E.O.
Here is an indicator that shows you the RSI on timeframes greater that what you are viewing.
Example.. On 15m you can see the 1hrRSI BUT you can not use 15m RSI on 1hr as calculations will be incorrect, but not by much

Indicatortimeframe>currenttimeframe
hi,
how can i see 1HrRSI on 15min chart
  • #2,572
  • Jun 27, 2007 12:35pm Jun 27, 2007 12:35pm
Does anyone here have a Fibonacci extension indicator ( not the Fib retracement or expansion already in MT4) for MT4 that you can post?

Thanks.

Marco
"I know how hard it is for you to put food on your family." George W. Bush
  • #2,573
  • Jun 27, 2007 12:36pm Jun 27, 2007 12:36pm
Quoting jameesnior1
Going to post some more screen shots here of my trades today. Pretty choppy today and price was to near resistance levels for a lot of the crosses that were showing up.

I took two trades, 1 on EUR/JPY and 1 on AUD/USD. My SL on these were set to 10 as i don't really trade these currencies.

1:40p.m.(BST)
1lot Short of EUR/JPY at 164.48 , closed at 164.30 , +18pips

3:10p.m.(BST)
1lot Short of AUD/USD at .8405 , closed at .8392 , +13 pips
Jameesnior1,

Nice trading!

A question... Your RSI 21 and 5 window looks funky. You said the 21 is yellow, but it's moving above and below the 5. It should be the other way around. The RSI 5 being a shorter setting should be the one crossing the slower 21. It also seems you have something else set differently because they move together more in parallel than crossing. Although, it seems to look useful this way. Can you clarify how you have them set up?

Thanks!

Bagovino
"Skills pay the bill's!"
  • #2,574
  • Jun 27, 2007 1:31pm Jun 27, 2007 1:31pm
Your correct Bago , the RSI 5 is the yellow colour and the RSI 21 is the in blue, my bad
The settings are standard and i can only assume they are moving more in 'parrallel' because of the ranging market we seem to be in so no sudden drops or up moves as yet. When i scroll back through i see they are a lot more choppy.
Hope that explains it.

Pivot points have been key for trading this the last two days and i'm looking at 5 pairs for the right set up. I hope i'll be able to post two more successfull trades tommorrow but i'll see what the market gives me.
  • #2,575
  • Jun 27, 2007 9:38pm Jun 27, 2007 9:38pm
Quoting winsteadglenn
Alas, we may have rhythm. The robot likes the 30 min. window, and did fairly well over-night using RSI Five 80/20. There were some late entries, and a loss on the pound/dollar, but Bago's favorites saved the day: pound/yen; Euro/yen.
There were some losers and minor winners, too, the euro/dollar being one of the latter. Since I never seem to profit from the US/CAD, I axed it, and some of the weirdos, too. I think I will keep the Aud/dollar, which made a few good bucks.
Overall, it was a satisfying night. It resisted entry into anything during the US market. The tighter threshold of 80/20 seems necessary. Not yet a cake, but the dough is rising. (pun intended) Glenn
Hi Glenn.

My only real winner so far is the EURJPY with 200+ pips in the last week or so. GBPJPY is only at 15 and the rest (pound-dollar especially) are losers. So I have cut back to only the EURJPY for now. I'm trying your new setting of 80/20. We'll see.....
Don Life is expensive, but includes a free trip around the sun.
  • #2,576
  • Jun 28, 2007 9:38am Jun 28, 2007 9:38am
Traderone:

Agree. I lowered the threshold to 75/25, and was again beat up badly in the European market this morning. I am again back to 80/20. As you say, time will tell if this is fantasy. Glenn
  • #2,577
  • Jun 28, 2007 7:34pm Jun 28, 2007 7:34pm
My MT4 just gave out. Does anyone know of a place that allows you to have a perminant demo act?

Thanks,
Cybernan
  • #2,578
  • Jun 29, 2007 1:58am Jun 29, 2007 1:58am
Hi ya Bagovino,

Sorry for the hassle, but any chance you could put a template up of your new setups pleeeeeeeeeeeeease ..

BIG thanx,
Adrian
  • #2,579
  • Jun 29, 2007 2:00am Jun 29, 2007 2:00am
ALL

Check out the thread 'NEW!! - ''Plot News indicator' for a brilliant program called FFcal.
It's perfect - once you figure out your MT4 times!

rorieu
Attached Image
  • #2,580
  • Edited 2:45am Jun 29, 2007 2:18am | Edited 2:45am
New Features:

-Indipendent MA Method Selection
-Select any of the four MA Methods (SMA, EMA, SMMA, LWMA)
-RSI Period Variable
-RSI Upper Barrier Variable
-RSI Lower Barrier Variable
-Included Read Me file
-Now has v1.2 on it

Improved Features:

-Less alert and email settings (Now one for both up and down)
-Alerts and Emails no longer trigger every time price moves.
-Alerts and Emails trigger 2 times per event. (Once on the bar close of the event, and once on the next bar close)

Features to work on:

-Variable for Apply To for each MA and RSI


Hope you enjoy. I tested it pretty well, but if there are any bugs, please report them to me.

Que
Attached File(s)
File Type: zip Bullseye_v1.2.zip   3 KB | 657 downloads
Que
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