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Bagovino Method

  • #2,981
  • Sep 28, 2007 10:40am Sep 28, 2007 10:40am
Quoting jmf0805
A "push" for the week...
"fair to middlin" for the day:

10 trades (7 winners, +81 pips)

Intrigued with the logic (as far as I understand it), need to do some cogitating about possible tweaks for the upcoming trading week,
Jon
Doing well Jon, you're doing quite well.

You have an understanding as to how the EA is "supposed" to work and that understanding enables to you to test the EA then make thoughtful tweaks, based on your trading goals. One key is determining when NOT to trade, remaining on the sidelines, e.g., during multiple European news releases. There is no rule that says we must trade all day or every day. Trade when you determine market conditions favor your strategy.
  • #2,982
  • Sep 28, 2007 10:48am Sep 28, 2007 10:48am
hi,
i used ur system and it really work 4me.i made up to 50pips.thnks 4this.
  • #2,983
  • Sep 28, 2007 12:28pm Sep 28, 2007 12:28pm
Quoting gundeji juli
hi,
i used ur system and it really work 4me.i made up to 50pips.thnks 4this.
Congratulations!

Yes Bagovino's method works very well on manual operation. The Bago-Mikhail EA some days works better than others. The challenge before us is finding consistency; how to improve the EA's "not so good days" to generate consistent pips with a winning ratio in the neighborhood of 70-85%.

Click on chart below for today's results.
Attached Image (click to enlarge)
Click to Enlarge Name: bago-mikhail 28 sept 2007.gif Size: 90 KB
  • #2,984
  • Sep 29, 2007 12:26pm Sep 29, 2007 12:26pm
not you because they work in 10 minutes, when the original method is in one hour.The signal of RSI that sometimes overcomes the level of 50 and then it is returned, when we have already entered to the market, I use a tunnel with levels of 45, 50 and 55, there rot to visualize the sense of the signal better.
  • #2,985
  • Oct 2, 2007 7:29am Oct 2, 2007 7:29am
Hello Bago.
Your method with the time has changed. Please indicate me up-to-date of today which are the appropriate parameters and the indicators of the method bagovino.
Thank you
Ricardo Cifuentes
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
  • #2,986
  • Oct 2, 2007 3:31pm Oct 2, 2007 3:31pm
My observations of the EA through today, 2 October 2007. As we all know fundamental Bago works fine, so I direct my comments to the EA ONLY because my goal is to fine tune the EA for trading during the profitable Euro/UK sessions.

Observations:

(1) The Bago-Mikhail EA works best during trending markets;

(2) Many profitable setups occur during European session and early London when most Yanks like me are asleep;

(3) The EA performs poorly in ranging markets and

(4) The EA performs inconsistently across a broad range of currency pairs. I've seen days with 95% wins and other days with 45%. Inconsistent.

Recommendations:

Do your homework and determine which currency pairs are more likely to trend (nothing always trends but some pairs are more likely to trend). Set BE, TP and SL based on the specific pair(s) you identify. These numbers differ for example between cable versus GBP/JPY;

Once you determine which pairs trend, determine optimal hours the pairs are most likely to trend. Historically you will see an optimal time of 4-8 hours, not every day but often enough to trade profitably;

Use the EA to trade those pairs during the optimal times, but be prepared to manually exit: (1) toward the end of that time and/or (2) if you've captured your designated pip goal.

Example:

See attached chart, depicting cable for 28 September 2007. Based on examining cable charts and trending times, optimal hours appear to be 08:00 (green vertical line) - 17:00 CET (red vertical). So I set the EA to trade cable, starting at 08:00 and ending at 17:00. Several trades were entered generating more than 100 pips profit. In this example, cable generated an additional 100 pips between 16:00 and 19:00 but I'm not trying to get every, last, single pip. Pigs get fat; hogs get slaughtered. If trading live, you could have shut this down after gaining 50, 60, 80 pips, before the reversal.

A week or 10 days ago, I changed TP = 100 attempting to avoid that reversal. It works for some currencies, not others. It's best to seek smaller TPs for cable which allows you to profit from shorter trends as well as 100 - 150 pip runs. On the other hand, TP 100 works better with yen pairs, e.g., GBP/JPY.

As far as parameters, this chart depicts EA using RSI entry filter of 66 and RSI exits at 53/47, exit on cross, using original bago emas of 5/12, with an RSI of 5, on 15M chart. You can use EMAs or SMAs of 5/12 or 5/8 on pretty much any chart, at least up to 1H and perhaps 4H. It depends on the individual trader. I find that the EA works well on 15M.
Attached Image (click to enlarge)
Click to Enlarge Name: bago-mikhail optimal setups.gif Size: 67 KB
  • #2,987
  • Oct 2, 2007 4:50pm Oct 2, 2007 4:50pm
Another example, 13 Sept 2007, using USD/JPY. Based on historical observation, the Yen appears to frequently trend between the optimal hours of 09:00 - 16:00 CET. So I set the EA for trading the Yen between those hours. Good for two trades, 37 pips profit. There were additional days between the 13th and today where the yen trended and traded during those hours; I used the 13th in this example because it was further removed in time.
Attached Image (click to enlarge)
Click to Enlarge Name: bago-mikhail optimal setups (usdjpy).gif Size: 30 KB
  • #2,988
  • Oct 3, 2007 7:01am Oct 3, 2007 7:01am
Quoting MoneyMa$ter
Another example, 13 Sept 2007, using USD/JPY. Based on historical observation, the Yen appears to frequently trend between the optimal hours of 09:00 - 16:00 CET. So I set the EA for trading the Yen between those hours. Good for two trades, 37 pips profit. There were additional days between the 13th and today where the yen trended and traded during those hours; I used the 13th in this example because it was further removed in time.
MM, can u share EA with ur settings, please

many thanks
  • #2,989
  • Oct 3, 2007 8:42am Oct 3, 2007 8:42am
Very nice analysis

Quoting MoneyMa$ter
My observations of the EA through today, 2 October 2007. As we all know fundamental Bago works fine, so I direct my comments to the EA ONLY because my goal is to fine tune the EA for trading during the profitable Euro/UK sessions.

Observations:

(1) The Bago-Mikhail EA works best during trending markets;

(2) Many profitable setups occur during European session and early London when most Yanks like me are asleep;

(3) The EA performs poorly in ranging markets and

(4) The EA performs inconsistently across a broad range of currency pairs. I've seen days with 95% wins and other days with 45%. Inconsistent.

Recommendations:

Do your homework and determine which currency pairs are more likely to trend (nothing always trends but some pairs are more likely to trend). Set BE, TP and SL based on the specific pair(s) you identify. These numbers differ for example between cable versus GBP/JPY;

Once you determine which pairs trend, determine optimal hours the pairs are most likely to trend. Historically you will see an optimal time of 4-8 hours, not every day but often enough to trade profitably;

Use the EA to trade those pairs during the optimal times, but be prepared to manually exit: (1) toward the end of that time and/or (2) if you've captured your designated pip goal.

Example:

See attached chart, depicting cable for 28 September 2007. Based on examining cable charts and trending times, optimal hours appear to be 08:00 (green vertical line) - 17:00 CET (red vertical). So I set the EA to trade cable, starting at 08:00 and ending at 17:00. Several trades were entered generating more than 100 pips profit. In this example, cable generated an additional 100 pips between 16:00 and 19:00 but I'm not trying to get every, last, single pip. Pigs get fat; hogs get slaughtered. If trading live, you could have shut this down after gaining 50, 60, 80 pips, before the reversal.

A week or 10 days ago, I changed TP = 100 attempting to avoid that reversal. It works for some currencies, not others. It's best to seek smaller TPs for cable which allows you to profit from shorter trends as well as 100 - 150 pip runs. On the other hand, TP 100 works better with yen pairs, e.g., GBP/JPY.

As far as parameters, this chart depicts EA using RSI entry filter of 66 and RSI exits at 53/47, exit on cross, using original bago emas of 5/12, with an RSI of 5, on 15M chart. You can use EMAs or SMAs of 5/12 or 5/8 on pretty much any chart, at least up to 1H and perhaps 4H. It depends on the individual trader. I find that the EA works well on 15M.
BJ
  • #2,990
  • Oct 3, 2007 9:10am Oct 3, 2007 9:10am
Hey 4newbie,

Sneak another peek at the last paragraph of MM's post nos. 2979 and 2986...the Money Ma$ter leads you "to the water".

"Pip-sliding" all the way,
Jon
  • #2,991
  • Oct 3, 2007 11:47am Oct 3, 2007 11:47am
Last Example:

I identified GBP/AUD as a currency that tends to trend between the hours of 01:00 - 09:00 and 19:00 - 23:00 (CET). I set the EA to trade those hours and because 01:00 CET is 7:00 pm EST, I was able to monitor the trade. EA opened two winning trades, both hit TP for 70 pips. Pigs get fat; hogs get slaughtered. IMHO, after getting 70 pips, there was no reason to continue trading GBP/AUD for the day so I turned off the EA around 05:15 CET which is 11:15 EST. Someone else may have been satisfied with 70 pips as a daily target and turned off all other currency pairs. It's up to you.

You can trade this method quite profitably if you have a favorite currency that tends to trend, but it's entirely up to you because YOU must do your homework. YOU must go back in time to review charts then identify currency pairs that you think tend to trend as well as the hours during which they trend.

PLEASE NOTE - Settings listed on left-hand side of chart.
Attached Image (click to enlarge)
Click to Enlarge Name: bago-mikhail optimal setups (gbpaud).gif Size: 56 KB
  • #2,992
  • Oct 3, 2007 12:01pm Oct 3, 2007 12:01pm
Results for October 3, 2007 - Good. 18 trades, 13 winners.

Attached chart shows trading results for 8 different currency pairs. 13 winners out of 18 trades is good but as pointed out in my earlier posts, the EA does not obtain such results on a consistent basis. I think the "Tend to Trend" approach is more reliable.

BTW, do not include the 3 lot cable-trade; that's non-bago. I need to review those non-bago odd-lot cable trades and determine the success rate.
Attached Image (click to enlarge)
Click to Enlarge Name: bago-mikhail results 3 oct 2007.gif Size: 98 KB
  • #2,993
  • Oct 3, 2007 5:27pm Oct 3, 2007 5:27pm
Hi to all.

Thanks to BV for starting it all way back and to others who have picked up the ball and run with it.

MM really appriciate your input on this EA. Ive been fooling with it for the last few weeks and more seriously in the last few days.

A couple of things I've been pondering. Given that the EA can get us into a trade at a similar time to that of a manual trader (give or take a bit) it would seem that a trend filter of some kind could be an option. With that in mind, if we are using the EA on a 15 min chart, the qustion then becomes can the EA be programmed to buy only if the 1h or 4h trend is up and sell only if the trend is down, thus adding a bit of TEB to BAGO.

Tebago

The other thing I was thinking about....... given that we are happy to manually exit trades was the possible option of shifting time frames once a trade has been initiated, eg the EA enters a trade using 15 min chart and you notice that the 1H and 4H charts support a longer trade so you change the chart time to 1H, increase T/P and change options to exit on cross.

I know these ideas fly in the face of what an EA should be "like totally Automatic" but hey I'm prepared to do a bit of hard clicking if it means more pips.

Cheers for now

And go the All Blacks RWC 2007

El
  • #2,994
  • Oct 3, 2007 11:43pm Oct 3, 2007 11:43pm
Quoting El Salon
Hi to all.

...

A couple of things I've been pondering. Given that the EA can get us into a trade at a similar time to that of a manual trader (give or take a bit) it would seem that a trend filter of some kind could be an option. With that in mind, if we are using the EA on a 15 min chart, the qustion then becomes can the EA be programmed to buy only if the 1h or 4h trend is up and sell only if the trend is down, thus adding a bit of TEB to BAGO.

Tebago

The other thing I was thinking about....... given that we are happy to manually exit trades was the possible option of shifting time frames once a trade has been initiated, eg the EA enters a trade using 15 min chart and you notice that the 1H and 4H charts support a longer trade so you change the chart time to 1H, increase T/P and change options to exit on cross....

El
El,

Thanks for the comments, input and recommendations.

Sure getting in with the trend is the winner, and the EA could verify existing trends, rather than rely on past observations of likely trend times. And somewhere in this long thread, I believe Bago and others advocated that approach, albeit manually. Yep, I like the Tebago idea (you say Tebago, I say Tobago!). Certainly goes beyond my programming capacity at this point, as it sounds like a little more than cut 'n paste.

Just need someone to code. Wow, Diamondbacks just beat the Cubs....
  • #2,995
  • Oct 4, 2007 9:45am Oct 4, 2007 9:45am
plz money ma$ter can u post the last modefied EA

because i cant change in the code

very thanx 4 u effort
  • #2,996
  • Oct 4, 2007 10:44am Oct 4, 2007 10:44am
Quoting spidertwon
plz money ma$ter can u post the last modefied EA

because i cant change in the code

very thanx 4 u effort
Please spidertwon,

if you read the thread as directed YOU can download the last modified ea.

thanks for YOUR efforts.
  • #2,997
  • Oct 4, 2007 10:59am Oct 4, 2007 10:59am
thnks 4ur postings and methods
  • #2,998
  • Oct 4, 2007 12:29pm Oct 4, 2007 12:29pm
hi money ma$ter i read some posts and start to work with

Bago-Method_Mikhail-EA-V3 modif BE

but my time GMT+1 in egypt

and open EA on alot of charts and EA make an order on eur/usd

if i use the news version it will be better because the order have -50 and closed and open long order

i wait for u help
  • #2,999
  • Oct 4, 2007 2:44pm Oct 4, 2007 2:44pm
Quoting spidertwon
hi money ma$ter i read some posts and start to work with Bago-Method_Mikhail-EA-V3 modif BE

but my time GMT+1 in egypt and open EA on alot of charts and EA make an order on eur/usd

if i use the news version it will be better because the order have -50 and closed and open long order

i wait for u help
Oh I see,

In other words, you do not know the "good" EA and for some reason you cannot make changes to the EA. [maybe you buy new computer?] So you think I should do all the work, explain everything, then post the EA in a nice neat little package just for you. Not just the settings but the actual EA. Then I provide all the answers when you have questions about the EA.

And you will send my first paycheck when?? My hourly rate is USD $25,000.00 (includes discount).

Nothing personal, but if you took the time to read my posts, then you would know that I will teach but I do not condone, encourage or practice "spoon feeding" anyone (other than spiritual and natural babes). Some here at FF do, but I don't. There's enough information on here, posted by me and other experienced traders, repeated several times over and over again, that you really should understand everything! If you take the time to study.

Nor do I apologize for taking that position because I believe fully functional, literate, responsible adults can learn this business thereby avoiding dependent, symbiotic and parasitic relationships with experienced traders.

And that's all I have to say about that.
  • #3,000
  • Oct 4, 2007 4:21pm Oct 4, 2007 4:21pm
iam sorry for disturbe u
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