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Bagovino Method

  • #3,121
  • May 29, 2008 3:30pm May 29, 2008 3:30pm
Can anyone send the latest updated bago method rules.?
  • #3,122
  • May 30, 2008 5:58am May 30, 2008 5:58am
Quoting strada
Hi Nu2fx, have answered your Q's in blue below but please bear in mind that these are my opinions and methods, with bago you have to fit it around you, your available time, your comfort level with risk etc.
Strada

Thank you for the complete reply.

Impressed you have not been struck by the "indicator-itis" that most methods on FF seem to suffocate from!

'TMI' >>>> Too Many Indicators

N
  • #3,123
  • May 30, 2008 9:37am May 30, 2008 9:37am
Nu2fx, you're welcome and your right I don't suffer from 'TMI' (this should be entered in the FF glossary - I imagine you could start a very volatile thread on this subject alone). I've always believed in the KISS principle, but that's probably because my limited brain power can't cope with much else!!

Hipofiz - the rules haven't really changed, it is still EMA 5 & 12 combined with RSI 21. There have been various time-frames discussed but I think the consensus of opinion is that you can trade bago on any TF from the monthly down to the 1 min. Best to set up a chart on a TF that suits you and try it. You may want to try some of the additional indies suggested by various contributors but the bago basics will still prove to be the primary source for signals.

rgds, strada.
  • #3,124
  • May 30, 2008 1:03pm May 30, 2008 1:03pm
Quoting pipcruiser
Hi fellow Bago's.

I would love to have an e-mail sent when we have a bago cross (5/12 RSI 21)

I have the attached indicator, would it be possible for anyone to add an e-mail alert function? Or if anyone has another with e-mail alert?

Thank's a million,

PC

PS : I didn't make indicator my self, credit to some other FF guy

I checked your indicator and it already has the email alert... but it is "greyed out". You would just have to remove the "//" before "SendMail" in both condition statements:

Alert (Symbol()," ",Period(),"M EMACross UP ");
//SendMail("EMA Cross Up on "+Symbol(),"");

and

Alert (Symbol()," ",Period(),"M EMACross DOWN ");
//SendMail("EMA Cross Down on "+Symbol(),"");

and thereafter enable and configure your MailServer under "Tools > Options > Email tab".
  • #3,125
  • May 30, 2008 2:43pm May 30, 2008 2:43pm
Hey buddy,

thank's a lot, appreciate it

PC

Quoting doblece
I checked your indicator and it already has the email alert... but it is "greyed out". You would just have to remove the "//" before "SendMail" in both condition statements:

Alert (Symbol()," ",Period(),"M EMACross UP ");
//SendMail("EMA Cross Up on "+Symbol(),"");

and

Alert (Symbol()," ",Period(),"M EMACross DOWN ");
//SendMail("EMA Cross Down on "+Symbol(),"");

and thereafter enable and configure your MailServer under "Tools > Options > Email tab".
Less is more...
  • #3,126
  • May 30, 2008 10:35pm May 30, 2008 10:35pm
Thanks for the last few posts.. they have been really insightful.

I do have a question, I understand that you use some small tf's... what about profit? What do you use for a pip target?

I have had some great success with the strategy in the past, but at higher TFs and I just haven't had the time to dedicate to trading and be successful, so I've been entertaining the idea of multiple lots on smaller pip profit targets.

What are your thoughts?
KCComputerman
  • #3,127
  • Jun 1, 2008 11:13am Jun 1, 2008 11:13am
Hello KCComputerman, when I use the smaller TF's then the SL & PT's have to be adjusted accordingly. If I use 5mins on EU/GU the SL will normally be 20 + spread; Tp1 = 20; tp2 = 30; tp30 = runs until there is a reason to exit like news, recross of 5/12, EOD, 100pips and/or I'm happy with the days takings.

with a 1 or 2 min TF then the sl would be 10 + spread; tp1 = 8; tp2 = 15; tp3 as above. With these shorter TF's I use a lot more discretion though, especially on the targets, if 8 is proving elusive I'll take 7 but on the other hand sometimes price races past the 8 target so you get a bonus (If it goes to 12 or more I'll sometimes close both tp1 & 2). With SL on the above I'll sometimes use the last reaction Hi/Lo + a couple of pips rather than a rigid amount. The smaller TF's are great if you only have a limited amount of time but you can spend that time on the job. Not everyone likes 'screen-watching' but we all have to earn a crust doing something and this works for me.

rgds, strada.

Quoting KCComputerman
Thanks for the last few posts.. they have been really insightful.

I do have a question, I understand that you use some small tf's... what about profit? What do you use for a pip target?

I have had some great success with the strategy in the past, but at higher TFs and I just haven't had the time to dedicate to trading and be successful, so I've been entertaining the idea of multiple lots on smaller pip profit targets.

What are your thoughts?
KCComputerman
  • #3,128
  • Jun 1, 2008 2:10pm Jun 1, 2008 2:10pm
thanks you

Quoting strada
Nu2fx, you're welcome and your right I don't suffer from 'TMI' (this should be entered in the FF glossary - I imagine you could start a very volatile thread on this subject alone). I've always believed in the KISS principle, but that's probably because my limited brain power can't cope with much else!!

Hipofiz - the rules haven't really changed, it is still EMA 5 & 12 combined with RSI 21. There have been various time-frames discussed but I think the consensus of opinion is that you can trade bago on any TF from the monthly down to the 1 min. Best to set up a chart on a TF that suits you and try it. You may want to try some of the additional indies suggested by various contributors but the bago basics will still prove to be the primary source for signals.

rgds, strada.
  • #3,129
  • Jun 1, 2008 2:14pm Jun 1, 2008 2:14pm
I Just finished reading your replies for EA's. But I wonder if which version and setting you are using your real account (If using real)


Quoting MoneyMa$ter
As one of those "individuals" who traded (and trades) Bago with an EA, let me simply say one group of traders discussed the challenge and virtues of automated trading while those preferring the manual method simply ceased discussion, for whatever reason. Some believed Bago cannot be traded with an EA - if I'm not mistaken I think Bags himself is in this camp. Others saw it and took it on as a challenge to code the EA.



In fact, the EA in its various iterations was shared multiple times as were the settings for the EA. Admittedly, it became monotonous when too many newbies refused to read the thread (even when directed to specific pages containing the basics), repeatedly asking questions which had been previously answered. Further, the questions asked regarding the EA indicated not only a lack of knowledge relative to EAs but a more obvious and appalling lack of understanding as to how Bago's method worked.



True indeed. It works!



That's the "secret". Read the thread. That's what it takes. No matter if you want to trade manually or with an EA, READ the material relevant to the method you choose. But whatever you do READ because all the information is indeed in this thread. Forex Factory is a virtual goldmine of information; all one has to do is READ IT!!

And that's all I have to say about that!

HEY BAGS, hope all's well with the family matters. You know me, just dropping in to see what's happening. Trade well, live better!
  • #3,130
  • Jul 13, 2008 9:25am Jul 13, 2008 9:25am
BAGO SELL signal?
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  • #3,131
  • Jul 14, 2008 5:13am Jul 14, 2008 5:13am
Baspips, yes technically it was a signal.

However, price opened with a gap after the weekend and we all know what normally happens with these gaps and so it did. Also there was a lot of support around 9590-600 so again a lot of caution would have been required opening a position above this level. Using some basic discretion here would mean no signal and since then signal is presently negative.

rgds, strada.
  • #3,132
  • Jul 15, 2008 9:16am Jul 15, 2008 9:16am
Quote:
Originally Posted by Nu2fx http://www.forexfactory.com/images/buttons/viewpost.gif
Strada
Still posting after a year. Looks like you have been using Bagovino for a long time.
Can I ask some questions pls?
Is it your main method?
Yes. Have looked at various other things, OzFx, Dibbs, Hard1Head1 and whilst they all have their merits and I'm sure they are profitable but not sufficiently so to persuade me away from bago.
Are you still using a 10minute TF. That is a bit awkward with metatrader so willl it work on 5m and 15m too? Do you use Multiple TFs?
If you want use 10min go to page 120/post 1800 by driftwood. I use different tf's depending on time available. You mentioned the 5min, I use that a lot and it works well. I've been using it this morning on cable and it has performed well, one small loss and two profitable trades (one still running). Take a look at the chart, you'll pick them up no problem. If I only have limited time I sometimes use 1 or 2 min tf. The 1min I really like because it keeps you busy and keeps you on your toes, lots of trades (and yes lots of losses but overall profitable). The thing with the shorter TF's is you quickly recognise when you're in congestion and so you taker a break and eventually the breakout will be quite obvious and although you might get caught out by a false BO you can be pretty sure that the reverse breakout will be the real thing, you just have to make sure you're on it. With regard to multiple TF's I tend not to, I decide at the start of the day the TF I'm going to use and tend to stick to it besides using lower TF's I'm not interested in longer term TL's. The exception to that is if I miss a signal on one TF I might consider entry on the next higher TF.
What indicators do you use. Many have been suggested in the posts have you added others for confirmation?
5/12 EMA & RSI 21. I don't use anything else these have worked for me for too long now that I have no need to distrust them.
How about S/R lines pivots fibs or anything??
I regularly update my S/R lines on my charts (use the Hourly) and if price is approaching these (or round numbers) on a signal then I'm more cautious but they won't necessarily stop me from entering a trade. My attitude tends to be that the small loss from a bounce isn't as painful as sitting on my hands while price breaks through and soars away.
Your methods were very straightforward are they still the same?
Yes.
What are your favorite pairs how many pips are you making?
GU, EU, EJ, UJ in that order. If I'm using short TF i only trade one of them. I also trade the FTSE only on the 1 min and that has been good fun today (ie it's been profitable).
Sorry for so many questions so thanks.
Take a good look at it, give it a fair try-out, would strongly recommend looking at only one pair (max 2) to start with and don't look over the fence at what the other pairs are doing, especially if you've just had a losing trade because you will almost certainly find winning trades on other pairs then you will think you were on the wrong horse, disillusion sets in, game over. Bago works, but you need to see this for yourself, don't take my word for it. All the best, strada.

Nu2fx


Hi ya Strada

Hope all is well with you....

I was just wondering if you are still using the Bagovino method with the success you were having a couple of months ago and if you have changed your settings or added something extra to the system to please your style of trading?

with thanx,

Adrian
  • #3,133
  • Jul 16, 2008 5:59am Jul 16, 2008 5:59am
Hi Aarangio, yes still profiting with bago, have PM'd you.

rgds, strada.
  • #3,134
  • Jul 16, 2008 6:54am Jul 16, 2008 6:54am
Strada
I notice you like wild rides with the FTSE on a 1 minute TF!

Are you still using 5/12 and RSI 21 on this? I guess you are only looking for 5-10 pips.
Is this without a SL (not enough time)?

I got an email form GFT a week ago saying their FTSE spread is reduced to 1pip. See chart.

BTW I find it visually useful to have an MACD on the Bago chart set to 5,12,1.
This clearly shows the crosses and the amplitude is the gap between the MA 5 and 12 (obviously)

regards
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  • #3,135
  • Edited 1:46am Jul 18, 2008 1:36am | Edited 1:46am
Hi Nu2fx,

Wild rides, well not quite like Meryl Streep on those rapids but it can be busy sometimes on FTSE, even more so on Dow/Wall St. But come on, 5-10 pips, I wouldn't get out of bed for that. Last 2 days on ftse have had rides in excess of 50 pips! The dow has had rides over 100 pips although I always come out too early, it doesn't just retrace a few pips does it? The dow yesterday was brilliant later in the day (too late for me though). The great thing about it is you start off a position thinking short term then you find yourself in a decent move and then when you look back you realise that you got into the move very close to the top or bottom. Same goes for the pairs Just entered long on EU at 15875 and now bagged tp1 for 10 pips, sl @ BE so we'll see how far that goes.

Re the SL I rarely place an SL with the trade but I stick very strictly to whatever SL I decide either 10+spread or below/above last reactionlo/hi. But it is more likely that if a trade goes against me then there will be 5/12 recross and i use that for exit if price continues against me. That way I rarely get anywhere near the SL.

EDIT @ 7.41am Ok, OK, I got stopped out at BE so I got out of bed for 10 pips!!

Quoting Nu2fx
Strada
I notice you like wild rides with the FTSE on a 1 minute TF!

Are you still using 5/12 and RSI 21 on this? I guess you are only looking for 5-10 pips.
Is this without a SL (not enough time)?

I got an email form GFT a week ago saying their FTSE spread is reduced to 1pip. See chart.

BTW I find it visually useful to have an MACD on the Bago chart set to 5,12,1.
This clearly shows the crosses and the amplitude is the gap between the MA 5 and 12 (obviously)

regards
  • #3,136
  • Jul 28, 2008 6:22pm Jul 28, 2008 6:22pm
Great to see this thread alive again, thanks to Strada especially and everyone for their contributions, and great to see Bagavino back. Couple of quick ones Strada. You said this can be traded on different T/F based on personal preference, would you base T/P on maybe a percentage of ATR or something that could be adapted for different T/F?. Thanks again for everyone's help

Jim
  • #3,137
  • Edited 4:42pm Aug 3, 2008 4:41pm | Edited 4:42pm
Hi Strada

A little advice please,

I am sold on the Bago method, more or less like you using only the basic indicators, except I prefer the 5 minute where you were previously using the 10 minute I think.

5 minute brings up more crosses and earlier, but my question is how do you avoid, or at least 'manage', the 'fakes' that do not develop into worthwhile moves---Do you just use the MA recrosses and RSI crosses or is it just(!) your skill and experience?

The basic method tests extremely well but I would appreciate some tips on how to avoid some of these fakes which it seems you successfully do?

Many thanks

NU2






Quoting strada
Nu2fx, you're welcome and your right I don't suffer from 'TMI' (this should be entered in the FF glossary - I imagine you could start a very volatile thread on this subject alone). I've always believed in the KISS principle, but that's probably because my limited brain power can't cope with much else!!

rgds, strada.
  • #3,138
  • Aug 3, 2008 8:22pm Aug 3, 2008 8:22pm
Thanks to everyone for the great system especially Strada & Bagavino...great job guys...I was amazed when I came across this system and realized I was already using the 5/12 EMA's with the MACD...(not even sure where I got it from) but have since added the RSI/21.....I would like to follow along" Bago Speed" method as I've seen it called, but my broker does not have the option of a 10 minute chart. I found earlier in the thread were someone had posted a time period converter for MT4 but I don't see that is does anything. Can anyone help with how I might get this to work or know how I can get a 10 Minute chart on MT4??

Thanks,
Rob
  • #3,139
  • Aug 4, 2008 1:22am Aug 4, 2008 1:22am
Quoting cgforex
Thanks to everyone for the great system especially Strada & Bagavino...great job guys...I was amazed when I came across this system and realized I was already using the 5/12 EMA's with the MACD...(not even sure where I got it from) but have since added the RSI/21.....I would like to follow along" Bago Speed" method as I've seen it called, but my broker does not have the option of a 10 minute chart. I found earlier in the thread were someone had posted a time period converter for MT4 but I don't see that is does anything. Can anyone help with how I might get this to work or know how I can get a 10 Minute chart on MT4??

Thanks,
Rob
cgforex,

To convert your MT4 platform to show a 10 min time frame, have look at post 1800, page 120 on this thread, Driftwood posted instructions on how to do this using the Period Converter indicator.
Hope this helps.
Noel.
  • #3,140
  • Aug 4, 2008 10:51am Aug 4, 2008 10:51am
Hello Bigjim1958

Yes you could certainly use that to establish your TP's. I didn't use anything as scientific, I'd been monitoring the trades over a decent period and recorded the best and worst pip score for each trade which when tabulated gave a very comprehensive overview of the performance. From that I deduced the optimum levels for SL and TP bearing in mind the number of losing trades as against the profitable ones. This is tedious, but it has proved effective and I still use the same method now if I'm looking at any new pair or TF. I'm currently looking at oil, recently bago on oil has been amazing, definitely not for the faint-hearted and I suspect it might be too rich for me.

Apologies for late response Jim, I ought to check into the thread more often. strada.

Quoting bigjim1958
Great to see this thread alive again, thanks to Strada especially and everyone for their contributions, and great to see Bagavino back. Couple of quick ones Strada. You said this can be traded on different T/F based on personal preference, would you base T/P on maybe a percentage of ATR or something that could be adapted for different T/F?. Thanks again for everyone's help

Jim

Quote from Nu2Fx '5 minute brings up more crosses and earlier, but my question is how do you avoid, or at least 'manage', the 'fakes' that do not develop into worthwhile moves---Do you just use the MA recrosses and RSI crosses or is it just(!) your skill and experience?'

Hi Nu2Fx, yes the shorter TF's give more signals obviously with more losses and a higher %age of losses so the trading strategy has to accommodate that. Firstly though bago is no different from most other methods, there are going to be losses, fact of life. It's how we manage them or more importantly how they manage us sometimes because they can get under our skin and cause unnecessary damage.

So for me and this is not necessarily bago's rules, just my own from trying different things, I use the 5/12 cross as my guide whilst in a trade. If price goes against the signal and there is a recross of the 5/12 then you are in the hole. Remember what everyone says you should do when you get into a hole. Stop digging. Don't panic. At this point you're in a hole you can get out of. If the hole isn't getting any deeper, then watch carefully, no neeed to exit at this point. If price improves and goes back on track then all well and good, you will probably see yet another recross of the 5/12 which puts you back into the right direction. On the other hand if price worsens from the first recross bar then the hole is getting deeper, time to exit. One thing I won't do is hang about here otherwise the hole will just become so deep you can't get out. And in the meantime you have also missed the next signal going the other way. This scenario can be very destructive to your mind-set and this is what happens if we allow a losing trade to manage us.

Sometimes there might be 2 or 3 losing trades in a row suggesting congestion, unfortunately we only realise this after some losses. I'll either stop here and wait for a breakout or continue with a reduced SL & TP's and probably reduce the trade size too.

The 5/12 recross I also use as an exit signal for TP2 and/or TP3. Again I'll watch this carefully before exiting as quite often price won't worsen but go back in your direction. If I do exit and it turns out that the reversal was just a pullback during a longer move then there will be another 5/12 cross which I will use to re-enter the positions closed previously.

Hope this helps, strada.
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