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Bagovino Method

  • #3,161
  • Aug 25, 2008 10:43am Aug 25, 2008 10:43am
Quoting eraserhead
First of all thanks for the lesson, It was a very educative reading for the w.e.
About my losing trading: yes you're right I started to go short without waiting for the end of the candle...and I've been rightly punished.

Next: I understood very well every trade you described over there, except the first one (08/10/08 13h00) when actually you say that "we see a short signal". I see that 5&12 crosses but RSI doesn't cross. So you'r not watching at this indicator as well?

Thanks again
RSI was at 42.5928 on my chart and looks like something similar on yours. The RSI was totally in line with a short signal.
strada.
  • #3,162
  • Aug 25, 2008 1:04pm Aug 25, 2008 1:04pm
Bago and Strada,

I want to thank you for all your contributions. Hope you both keep posting!
  • #3,163
  • Aug 25, 2008 2:58pm Aug 25, 2008 2:58pm
Quoting strada
RSI was at 42.5928 on my chart and looks like something similar on yours. The RSI was totally in line with a short signal.
strada.
In the originanl Bago starting post the RSI has to cross 50? Isn'it?
  • #3,164
  • Aug 25, 2008 4:58pm Aug 25, 2008 4:58pm
Eraserhead, yes you are quite right, RSI was at 42.5928 so how much farther do you feel it should be south of 50 for it to be a signal. 49.9999 or less does it for me.

Quoting eraserhead
In the originanl Bago starting post the RSI has to cross 50? Isn'it?
  • #3,165
  • Aug 26, 2008 3:40am Aug 26, 2008 3:40am
This time I only demo traded it. 5&12EMA cross, waited for the bullish candle to close, RSI cross over 50,00, price remain the same and then started going against me, then a short cross which is still working right now. working very well.

Why the first cross failed? I still remember your words telling me, don't start a trade if the previous trade is still evolving.
Is it maybe because 18&24 EMA were too distant?
Strada are you looking at those other EMAs?

Attached Image (click to enlarge)
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  • #3,166
  • Aug 26, 2008 4:16am Aug 26, 2008 4:16am
[quote=eraserhead;2184107]This time I only demo traded it. 5&12EMA cross, waited for the bullish candle to close, RSI cross over 50,00, price remain the same and then started going against me, then a short cross which is still working right now. working very well.

Why the first cross failed? I still remember your words telling me, don't start a trade if the previous trade is still evolving.
Is it maybe because 18&24 EMA were too distant?
Strada are you looking at those other EMAs?

Morning Eraserhead

The signal yesterday you identified quite correctly and although the previous trade had a good run down the change of direction had gone quite far and the there was good improvement on the new signal that you took. So I would have done the same as you. I don't look at those other EMAs you have, may I ask why you like them?
Once into that trade yesterday there was a US news release (red coded) which was $$ positive and I think that is why the trade went against the signal.
However the next signal has worked out very well as you say and is currently 150 pips to the good. It has just bounced off the number so it will be interesting to see if it breaks through. I'm in this trade at present although I entered after the 9.00 EU news. If it breaks through the number I should have a decent take from TP3 and that will be me finished for the day, EU worked well this morning.
Just going back to your previous query about the RSI crossing, after thinking about it I wondered if you might have been looking for both 5/12 & RSI crossing on the same bar. You can do this but it isn't necessary and it will reduce the number of signals you get.
Well, price has broken through so let's see if it stays below, there is no recent support around so this could be good.
rgds, strada
  • #3,167
  • Edited 7:45am Aug 26, 2008 4:34am | Edited 7:45am
That trade was also against the main trend and this could be one of the weak points. It's always a good habit to have a look to the main trend.
If you look back to history you see that Bagovino method seems to be more dangerous when traded against the trend. "RSI 21" signal doesn't seems enough to filter this. Do you agree?
Attached Image (click to enlarge)
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  • #3,168
  • Aug 27, 2008 5:30am Aug 27, 2008 5:30am
Hi Strada,
which TF are you trading right now? How is your TP/SL set-up? The average one, I know you look at pivot etc...

I'm reading all this post it takes a lot of days...
  • #3,169
  • Aug 27, 2008 8:19am Aug 27, 2008 8:19am
Strada

Apart from looking at the 50 crosses how else do you make use of RSI, is it a trend indicator for you?
Do you take account of its distance from 50?

Any chance you could POST your charts as your links are blank after a short time. Not much use if I'm reading your post a few days later. (#3157 it's great little program!)

I realize they must be time consuming but your explanations of the trades you are making/have made are very informative. Can we look forward to 'a few' more in the near future please?

thanks
  • #3,170
  • Aug 28, 2008 2:48am Aug 28, 2008 2:48am
Quoting bagovino
Strada,

Thanks for picking up my slack here brother!

To answer a few questions... I haven't been trading as of late. I'm slowly starting to get back into it and yes... I will be trading the original 1hr system.

I have also been experimenting with a couple of scalping methods for fun while waiting for a 1 hr signal.

B.
Hi Bago,

I would lilke to thank you so much for this thread. I started to read it one week ago and I still have to arrive to the last post. I'm near the end.
Right now I am paper trading the system with some kind of success.
I have a question for you and Strada:

I'm using MT4 Mobile with a smartphone and it's a looot of fun . I tend to use it only to move SL and TP but sometimes I try to use it to catch some signal. The problem is that there's no RSI on it.
Which kind of indicator and setting you suggest to use instead of it?

The options are:

ADX
Average True Range
Commodity Channel Index
DeMarker
MACD
Momentum
OsMA
Parabolic SAR
Relativge Strength Index
Standard Deviation
Stochastic Oscillator

Thanks
Today I will post some trade with charts
  • #3,171
  • Aug 28, 2008 3:12am Aug 28, 2008 3:12am
Quoting eraserhead
Hi Bago,

I would lilke to thank you so much for this thread. I started to read it one week ago and I still have to arrive to the last post. I'm near the end.
Right now I am paper trading the system with some kind of success.
I have a question for you and Strada:

I'm using MT4 Mobile with a smartphone and it's a looot of fun . I tend to use it only to move SL and TP but sometimes I try to use it to catch some signal. The problem is that there's no RSI on it.
Which kind of indicator and setting you suggest to use instead of it?

The options are:

ADX
Average True Range
Commodity Channel Index
DeMarker
MACD
Momentum
OsMA
Parabolic SAR
Relativge Strength Index
Standard Deviation
Stochastic Oscillator

Thanks
Today I will post some trade with charts
RSI = Relative Strength Index
  • #3,172
  • Aug 28, 2008 3:17am Aug 28, 2008 3:17am
Quoting remcous
RSI = Relative Strength Index
Ahh uhh oppss ehmmmmm grrr thanks
  • #3,173
  • Aug 28, 2008 5:09am Aug 28, 2008 5:09am
Quoting eraserhead
Ahh uhh oppss ehmmmmm grrr thanks
  • #3,174
  • Aug 28, 2008 7:32am Aug 28, 2008 7:32am
As I writed before I attach a today trade. I tend to attach only losing games to understand if there's something wrong in my action or it's just a matter of...numbers and odds.
Yesterday big gain on GBP/USD +60pips (demo only)

Is there something wrong with this trade here attached? The TF was 30min
Attached Image (click to enlarge)
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  • #3,175
  • Aug 28, 2008 7:41am Aug 28, 2008 7:41am
Quoting Nu2fx
Strada

Apart from looking at the 50 crosses how else do you make use of RSI, is it a trend indicator for you?
Do you take account of its distance from 50?

Any chance you could POST your charts as your links are blank after a short time. Not much use if I'm reading your post a few days later. (#3157 it's great little program!)

I realize they must be time consuming but your explanations of the trades you are making/have made are very informative. Can we look forward to 'a few' more in the near future please?

thanks

Morning Nu2Fx

I use RSI solely as the indicator for the signals. I don't read much more into it and that might become clear when you see the rest of this post.

I agree that without charts a lot of the commentary can be meaningless so I've taken the plunge today and using your instructions I'm posting some charts for EU today. If it messes up, down to you, OK???

I'm going to post a sequence of charts showing the trades I've done today on EU.
On the charts SB T1 = Signal Bar for Trade 1; chart is priced at BID;


Trade details:
T1 Sell 790; tp1 = 8; tp2&3 sl@be; +8
T2 buy 792; tp1 = 7; tp2&3 sl@be; +7
T3 sell 784; tp1 = 8; tp2 = 14; Tp3 (exit on Recross of 5/12 - RC) = 6; +28
Attached Image (click to enlarge)
Click to Enlarge Name: EU1 - 2008-08-28_.gif Size: 48 KB
  • #3,176
  • Aug 28, 2008 7:52am Aug 28, 2008 7:52am
T4 B780; tp1 = 8; tp2 = 15; tp3 (RC) = 6; +29
T5 S782; tp1 = 9; tp2 = 18; tp3 (RC) = 15; +42
Attached Image (click to enlarge)
Click to Enlarge Name: EU2 - 2008-08-28.gif Size: 50 KB
  • #3,177
  • Aug 28, 2008 8:00am Aug 28, 2008 8:00am
T6 S759; RC tp1,2&3 -9; -27
T7 B767; tp1 = 8; tp2&3 (RC) =2; +12
T8 S769; tp1 = 8; tp2 = 13; tp3 (RC) = 6; +27
Attached Image (click to enlarge)
Click to Enlarge Name: EU3 - 2008-08-28.gif Size: 31 KB
  • #3,178
  • Aug 28, 2008 8:10am Aug 28, 2008 8:10am
T9 B766; tp1 = 8; tp2 = 15; tp3 (RC) = 5; +28
T10 S769; tp1 = 8; tp2&3 SL@BE; +8

I did a couple of trades on oil earlier so that was enough for me today, hope this helps.

rgds, strada.
Attached Image (click to enlarge)
Click to Enlarge Name: EU4 - 2008-08-28.gif Size: 50 KB
  • #3,179
  • Aug 28, 2008 8:29am Aug 28, 2008 8:29am
Yoooooooooooy!!!!

I think I speak for everyone here Strada....thanx a million for all your time on this..excellent examples...and much appreciated help and explainations of questions asked of you

Thanking you,

Adrian
  • #3,180
  • Aug 28, 2008 8:45am Aug 28, 2008 8:45am
Quoting eraserhead
As I writed before I attach a today trade. I tend to attach only losing games to understand if there's something wrong in my action or it's just a matter of...numbers and odds.
Yesterday big gain on GBP/USD +60pips (demo only)

Is there something wrong with this trade here attached? The TF was 30min
Attachment
Hi Eraserhead, think your chart is actually the hourly. It looks as though the small bar (prior to the longer down bar that you have used as the signal bar) might have been a 5/12 cross and as RSI was below 50 you could have entered then. Let us know.

Aarangio, thanks. Good to see you on here, hope you're well. have you been looking at oil lately?? Still as scary as ever!

rgds, strada.
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