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  • #3,181
  • Aug 28, 2008 10:59am Aug 28, 2008 10:59am
Quoting strada
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.
Yes Strada the TF was 1H...my mistake. The trade went actually against me -30 pips. Today is a very raging day, not good for long TF trading.

Thank a milion for the charts, they are shining like gold.
Am I reading well, are you trading with 1minute TF???
Can you please make some example on Stop Losses as well?
thanks again
  • #3,182
  • Aug 28, 2008 12:40pm Aug 28, 2008 12:40pm
Strada

WOW! this information is invaluable. The chart posts are perfect I am sure you will agree. (nice program huh?).

Your charts are truly minimalist.

Amazing, you make it look easy but...
In truth, is this
1) typical of the way you use the Bago method?
2) exactly the same method for other TFs - which I think you also use?
3) the same method for other (selected?) instruments
4) a reasonably typical day?
5) on the 1m TF are you still watching for round nos and S&R levels?

Once others in FF read this you are going to be very busy with questions I think!
As long as you answer mine first.

Very many thanks again.
Off to study now.

nu2

For amusement only have a look a proper chart on # 7575 at
http://www.forexfactory.com/showthread.php?t=48926
14+ indicators listed!
  • #3,183
  • Aug 28, 2008 1:32pm Aug 28, 2008 1:32pm
Hi Nu2fx, have answered your Q's below in blue.

Quoting Nu2fx
Strada

WOW! this information is invaluable. The chart posts are perfect I am sure you will agree. (nice program huh?).
Yes, easy, even I managed it, thanks.

Your charts are truly minimalist.

Amazing, you make it look easy but...
In truth, is this
1) typical of the way you use the Bago method?
Yes, always.
2) exactly the same method for other TFs - which I think you also use?
Yes, with adjustments to SL & TP depending on TF
3) the same method for other (selected?) instruments
Yes, oil is amazing, check out the signal this avo at 13.31GMT ~ 470 pips!!!
4) a reasonably typical day?
Yes.
5) on the 1m TF are you still watching for round nos and S&R levels?
Yes

Once others in FF read this you are going to be very busy with questions I think!
As long as you answer mine first.
Done, rgds, strada

Very many thanks again.
Off to study now.

nu2

For amusement only have a look a proper chart on # 7575 at
http://www.forexfactory.com/showthread.php?t=48926
14+ indicators listed!
  • #3,184
  • Aug 29, 2008 3:32am Aug 29, 2008 3:32am
Quoting strada
Hi Nu2fx, have answered your Q's below in blue.

Strada
(are you italian?)

I understood, after reading your chart that you put SL at -9 with 1min TF.
I'm reading that you trade others TF as well, how do you put SL on others?


Thanks again
EH
  • #3,185
  • Aug 29, 2008 3:35am Aug 29, 2008 3:35am
these are my trades so far today on EU.

SB T1 = Signal Bar for Trade 1; chart priced at Bid.

T1 B751; Recross of 5/12 (RC) Exit @ -7 X 3; -21
T2 S744; tp1 = 8; tp2&3 (RC) =2; +12
T3 B745; RC exit @ -4 X 3; -12
T4 S740; tp1 = 8; tp2 = 17; tp3 (RC) = 4; +29
T5 B738; tp1&2 = 12 X 2; tp3 (RC) = 5; +29

More to follow later.
Attached Image (click to enlarge)
Click to Enlarge Name: EU1 - 2008-08-29.GIF Size: 53 KB
  • #3,186
  • Aug 29, 2008 3:43am Aug 29, 2008 3:43am
Morning EH, have responded below in blue ~

Quoting eraserhead
Strada
(are you italian?)
No, but I'm taking that as a compliment, love the place and the people.

I understood, after reading your chart that you put SL at -9 with 1min TF.
SL 10 + spread on 1min tf.
I'm reading that you trade others TF as well, how do you put SL on others?
5 Min tf - 20 + spread; 10 min 25-30 + spread and so on. Hourly I think realistically has to be 50+ in these times. I also use recent hi/lo's when available.

rgds, strada.

Thanks again
EH
  • #3,187
  • Aug 29, 2008 4:31am Aug 29, 2008 4:31am
Update on recent trades shown below

T? This was a signal but there was news a few minutes later and although it was only yellow coded I decided to leave it and go have some breakfast. It would have given tp1 for 8 before the news.

T6 B749; tp1 = 9; tp2 = 15; tp3 (RC) = 4; +27

T7 S748; tp1 & 2 = 8 X 2; tp 3 still live.
There was EU news on the hour so closed tp1&2 and let 3 run but watched it closely. On one of the platforms I use I can request a quote during news releases which I did right before the hour, it's good only for 10 seconds but if there was any real spike immediately after the news I would have been able to exit for a decent price. As it happened there was a spike and today it went my way.

Will update again later.
Attached Image (click to enlarge)
Click to Enlarge Name: EU2 - 2008-08-29.gif Size: 52 KB
  • #3,188
  • Aug 29, 2008 4:36am Aug 29, 2008 4:36am
Strada,

Sorrry - a few more questions but I feel I am asking on behalf of everybody:

1) why do you not move your stop after TP2?
2) Are there preferred times of day for instruments?
3) Oil: which one...(Daily) Brent Crude (Oct)? Are you using 5m?

Your favourites still are:
"GU, EU, EJ, UJ in that order. ... I also trade the FTSE only on the 1 min" and Oil too?

And do you look at them all on 5m and 1m. Anything longer like 10m or 1h?

Thanks again for your excellent, detailed posts.

NU2

I think I am running out of questions!
  • #3,189
  • Edited 5:13am Aug 29, 2008 4:46am | Edited 5:13am
Quoting strada
Update on recent trades shown below

T? This was a signal but there was news a few minutes later and although it was only yellow coded I decided to leave it and go have some breakfast. It would have given tp1 for 8 before the news.

T6 B749; tp1 = 9; tp2 = 15; tp3 (RC) = 4; +27

T7 S748; tp1 & 2 = 8 X 2; tp 3 still live.
There was EU news on the hour so closed tp1&2 and let 3 run but watched it closely. On one of the platforms I use I can request a quote during news releases which I did right before the hour, it's good only for 10 seconds but if there was any real spike immediately after the news I would have been able to exit for a decent price. As it happened there was a spike and today it went my way.

Will update again later.

Took the same of your T7:
tp1: 8 tp2: 16; tp3 (RC) 7 : total= 31 pips (just demo but sooo fun )

entered on the next cross-up on news about unemplo. but I don't know if it is a good idea to enter after a news due to volatility.
what u think aboutit?

Second question (sorry): there's a minimum of bar after the cross (waiting for RSI crossing as well) that you wait? I mean if the RSI21 cross after 4 or 5 bars is it still a "signal" for you?

thanks
EH
  • #3,190
  • Aug 29, 2008 6:18am Aug 29, 2008 6:18am
Hi Nu2, have responded below in blue.
Quoting Nu2fx
Strada,

Sorrry - a few more questions but I feel I am asking on behalf of everybody:

1) why do you not move your stop after TP2?
Prefer to use the 5/12 recross. My feeling is that as long as the 5/12 hasn't recrossed then the signal is still intact so the trade is still valid. If I took out tp3 on a revised sl but the 5/12 hadn't recrossed then price improved again I'd be out of the trade and not sure how or if I should re-enter. The trade could then pick up and give tp 3 another 50 or 100pips, who knows? If I exit on a 5/12 recross then it recrosses again I can easily re-enter the tp's I closed. Hope that makes some sense.
2) Are there preferred times of day for instruments?
EU & cable during eurozone/uk period is probably most reliable and not too affected by other influences, Dow etc. Oil definitely safer then too as in the US session it seems to go balistic and is like a bucking bronco to trade. FTSE is very easy from it's open until the US comes in and then you'd be as well to trade the Dow.
3) Oil: which one...(Daily) Brent Crude (Oct)? Are you using 5m?
Brent and on 1min.

Your favourites still are:
"GU, EU, EJ, UJ in that order. ... I also trade the FTSE only on the 1 min" and Oil too?
I only trade 2 instruments max on 1min. EU is favourite at present, have left FTSE alone for most of august during the holiday period, will be looking at it again in Sept. Oil is a demon to trade and I do it occasionally, if I get bored.
And do you look at them all on 5m and 1m. Anything longer like 10m or 1h?
No, if i decide at the start of the day which tf I'm using then that's it. I will have a quick cursory look first thing at the hourly to see what happened overnight, keep note of any new strong S&R but not looking for trends etc, no need on 1min.

Thanks again for your excellent, detailed posts.

NU2

I think I am running out of questions!

Quote by eraserhead 'entered on the next cross-up on news about unemplo. but I don't know if it is a good idea to enter after a news due to volatility.
what u think aboutit?'
I always look at signals or good continuations immediately after news. Just be ready for any retrace and get out quick if there is one. The EU news today was a good example, if I hadn't still had tp 3 running then I probably would have entered short at the end of the first post-news bar but with a tight stop.

Second question (sorry): there's a minimum of bar after the cross (waiting for RSI crossing as well) that you wait? I mean if the RSI21 cross after 4 or 5 bars is it still a "signal" for you?
Yes, after 4 or 5 then I'm a bit more wary

rgds, strada.
  • #3,191
  • Aug 29, 2008 6:45am Aug 29, 2008 6:45am
Here is what will be the final chart for today, I'm happy with my lot so have now finished for today.

T8 B738; tp1 = 8; tp2&3 SL @ BE=0; +8
T9 S737; tp1 =8; tp2 = 15; tp3 18; +41
There was a double bottom and I was looking for an excuse to finish so exited tp3 for 18. Between EU and some other trades on cable I'm nudging 200 pips, that's more than enough for me.

I hope the posted charts have been helpful but I have to say that it won't be a regular occurrence, it was fortunate the way EU behaved these last 2 days i had time to do it but most days it wouldn't be practical. The trades we've seen are typical of what to expect using bago, it really is that simple and judging by some of the Q's I get the impression that some need to offload any part of mindset that thinks it should be more complex, more involved, more confirmation, etc.

Bago is very basic, it is a heads up that there has been a turn in the market. At that point no-one knows whether that turnaround will be sustained or not. Now you have seen the evidence that there are losing trades but with good MM and strategy the winning trades will keep you on top. It requires some belief in the method and your strategy but once you have established that there is no ceiling to what can be achieved.

And just to emphasise the point while I've been writing there was another signal showing profit, I'm finished and didn't take it.

Have a good week-end, bye for now, strada.
Attached Image (click to enlarge)
Click to Enlarge Name: EU3 - 2008-08-29.gif Size: 52 KB
  • #3,192
  • Aug 29, 2008 8:08am Aug 29, 2008 8:08am
Thank you so much Strada for teaching.

I had the same good results on 1M E/U today. I made a trade on cable 30M and it went very bad. Probably these last days are too raging for higher TF. Isn'it?
With this last bad trade I've lost nearly everything I gained with the 1M E/U trades. ....thanks God I'm only demotrading!!!
To trade bago method on higher TF is more "relaxing" but maybe it needs larger accounts.
Anyway a big difference could be that you told us to exit on RC (on 1M), maybe this rule is not good for higher timeframes. Take a look at my chart. I go out at the RC but maybe the price (next hours) will go down and I will not catch the gains.
What's your idea about exit point on higher TF?

have a nice w.e.!
Attached Image (click to enlarge)
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  • #3,193
  • Edited 6:43pm Aug 29, 2008 8:18am | Edited 6:43pm
Again, thanks a million Strada, for the replies and charts.

I think you should collect all your posts, bind them and sell the book.

Having wandered the length and breadth of FF for a couple of years now, you seem to me to be the most consistent and successful trader I have come across. Not to mention open and helpful.

Also, we have a lot to thank Bagovino for.

More posts are always very welcome (when you have the time)

NU2
  • #3,194
  • Aug 29, 2008 9:29am Aug 29, 2008 9:29am
Actually cable went down and if I were inside I was making pips.
Probably when the TF is longer (30M or 1H) it's better to let the trade "breath" till a fixed SL and to stay in the trade also when 5&12 recross.
Well I'm not the teacher of course so..."don't try this at home

Attached Image (click to enlarge)
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  • #3,195
  • Aug 29, 2008 9:11pm Aug 29, 2008 9:11pm


Strada,

Are you mostly trading the 1 minute? I have never tried it. Heard it's suicide. How many trades per session are you making on such a short time frame?
I may just give it a try.

All,

Thanks for the recent flare in interest. I will be hanging around here more often.

Thanks,

Bagovino

"Skills pay the bill's!"
  • #3,196
  • Aug 29, 2008 9:34pm Aug 29, 2008 9:34pm
The Bagavino...

I live in the D.C. area,
and almost (as in horseshoes & handgrenades), made it to one of your
Trading Academy Sessions. I just didn't fork up the ducket$ yet to do it.
I've got some prior trade/training, though @some point i would like to go
& get more.

I love to wake up w/London and i hear you do that w/the Training.
Anyway, look fwd to going / someday meeting you / learning.
Have a great one,

Jeff
I will work to Objectively Identify my Edges
  • #3,197
  • Aug 30, 2008 12:12pm Aug 30, 2008 12:12pm
I am a long time observer here on FF but choose not to participate too often. What I must say is that this system works. I trade it live and make good pips on a weekly basis. This system can not be programmed via EA but must be traded by traders with a good eye. You must know the natural movement of the markets, ect.

I wanted to contribute to support the continuation of this thread as it has done me very well.

God Bless.
Chance favors the prepared mind.
  • #3,198
  • Edited Sep 1, 2008 1:06am Aug 31, 2008 4:44pm | Edited Sep 1, 2008 1:06am
Hi ya Everyone..

I thought I would throw up a chart recapping on everything with the Bago method to help make things clear for people and give them confidence in the simplicity and workings of the system.... and also give Strada a break from drawing charts .... oh yeah! and Strada if i'm wrong on any of the chart correct me please when you have a mo..

and don't forget for new comers here..

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....that's the system nothing more!!..remember KISS ;-)

And as Bago said in his first post here this is one wicked accurate system....
Also anyone new to trading please don't misread this last bit but what we are saying is this system gives a very, very high probability of win ratio and it is so simple....no system is bullet proof you will have losses!!....but with good sound MM and practising the system you will be shocked at what can be achieved from this system..

If you will just follow the last few posts from Strada of charts and his Q & A's starting at post #3175 to #3191 you will have the main parts of the system and how it works and from there....practice...MM...and controling those nasty emotions that kick in at times....and your gonna love this sytem....

Please when you get a chance read over this whole thread from start to finish....there is alot of invaluable stuff in this thread and I'm sure we can add alot more to it..

And peoples don't be shy....throw up some charts we can all learn from them....lets get this system rocking!!

Enjoy,
Adrian
Attached Image (click to enlarge)
Click to Enlarge Name: Euro 1 min.gif Size: 26 KB
  • #3,199
  • Sep 1, 2008 7:32am Sep 1, 2008 7:32am
Hi Strada

Still going well I see.
Thanks for the excellent posts last week. Keep them coming if you can, even the occasional post is helpful.

I think I have covered a full (very big) circle of indicators and methods over the last year so I am keen to evaluate the 'simple' Bago again.

I notice you don't colour the bars for up down, do you in fact use the characteristics or patterns of the bars at all in your trading decisions? You mentioned a 'double top' on Friday which incidently did not appear on my charts. It's worth noting that when you're down to 1 minute intervals there are noticeable variations in charts and especially crossovers from different providers... but of course they are generally similar.

This morning was choppy (ranging) how did you handle it?

Thanks for the summary, arrangio. I'd like to see more chart posting too - even losses are educational!

Guys, these charts are fine but I can't see a date, am I missing it somewhere?

R
  • #3,200
  • Edited 9:21am Sep 1, 2008 8:53am | Edited 9:21am
Quoting rorieu
Hi Strada

Still going well I see.
Thanks for the excellent posts last week. Keep them coming if you can, even the occasional post is helpful.

I think I have covered a full (very big) circle of indicators and methods over the last year so I am keen to evaluate the 'simple' Bago again.

I notice you don't colour the bars for up down, do you in fact use the characteristics or patterns of the bars at all in your trading decisions? You mentioned a 'double top' on Friday which incidently did not appear on my charts. It's worth noting that when you're down to 1 minute intervals there are noticeable variations in charts and especially crossovers from different providers... but of course they are generally similar.

This morning was choppy (ranging) how did you handle it?

Thanks for the summary, arrangio. I'd like to see more chart posting too - even losses are educational!

Guys, these charts are fine but I can't see a date, am I missing it somewhere?

R
I'm curious just like Rorieu to understand how to manage days like today. Market seems definitely drunked
Today I'm testing Bago on 1M with Strada MM on E/U and G/U and my head is exploding. Average of the day -15 pips with lots of entry and exit, lot of stress and eyes burning red

Watching charts seems that today was a typical 30M or 10M day. I mean when market is so choppy it's better to trade this TF maybe...yes it's easy to say it now but how to know this at the beginning of the day?
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