Bagovino Method

today in demo mode I made 150 pips between usd/chf, usd/jpy, gbp/jpy.

i'm using a 14 rsi on 1hour chart
great system mate !!!

aboslutely, see my post above.

Hi Bago, I've been using your 5/12 EMA cross together with the RSI21 cross on a 10 min timeframe and apart from near major newstimes just go with the signals. Trading mainly cable and sometimes eur/usd & usd/jpy it's bringing excellent returns (as at friday last 80.25% profitable trades with no losses greater than 33pips and several a lot less than that).

For exits I watch the pivots and sometimes my SL will reflect this. Unless it is a very fast move (i'll use discretion) I normally take profit in 3 lots. First third at the equivalent to the SL (normally 33 = 30 plus spread); reset SL at breakeven; second profit take, very much at discretion but watching pivots closely and/or exhaustion (ie the market or me if it's late) or a reverse crossover; final third with SL reset for profit if possible, I let run for a while and again use discretion for exit if not closed at Sl or near news or a reverse crossover.

Using this today on cable I was long 9352 at 7.10 (UK time) took 38 points for first third; 64 point for second third and 38 points for last third.
I had another signal at 12.20 which was an absolute peach and caught the down move, couldn't get my first profit out until it had dropped 70 pips! Just taken second profit at 100points exactly and last third is still in there but with a guaranteed profit of another 60 pips.

Anyone looking for a simple and reliable method to trade forex do yourself a very large favour and check Bago's method. Take the time to go through this thread, there is a mine of info and get onside with it.

Bago, where do I send the bottle of scotch, thanks again. This is just another good start to another good week!

strada

Hi ya Bagovino,

This system of yours is absolutely brilliant!!!!

I am using your last system
1. 5/12EMA
2. Stochastics set to 14,7,3
3. RSI8 with an 8EMA in the same window on top of it

I'd like to say a BIIIIIG thank you to you Bagovino, as I have lost a lot of money in trading and this system has given me my confidence back as I haven't traded since my last huge loss (well to me anyhow), about 1 1/2years ago.....and I have been racking up the profits in my paper trading account using this system for the last 2 weeks and will be going live again very shortly..... Yeeeeeeeeeeee Haaaaaaaaaaaaaa!!!!

Once again Bagovino THANK YOU!!

Adrian

I'm so happy to hear you guys are beating the beast (Forex) with my method!

Thanks for sharing how you guys trade it. I ask because I like to experiment hoping to tweak it even further. I have a nasty, obsessive habit of striving for perfection! It drives me crazy sometimes!!!

Anyway... If you guys would be so kind as to post your trades... Winners and losers we can analyze them and better the system together.

Thanks,

Bagovino

Keep at it Big Bag. I know the feeling. But better a diamond with a flaw than a pebble without.

Strada

Most impressive results. Well done. I have not managed anything that good.-I'm envious and curious....some questions:
10 minutes is unusual so you're not using Metatrader?
Are you based in the UK? Spreadbetting?
You mentioned Pivots (for exits?)- is that regular daily pivots?
Do you use anything else like Fibs or trendlines?
Any other indicators?
How long have you used Bago's method?

Sorry for the inquisition. Many thanks in advance!

R

BTW I've been through the whole thread 2 - 3 times at least!

Hi Rorieu

10Mins - I did some forward testing of Bago's method end of 06/ start of 07 using the 1 hr graph as per his method but at the same time I had been using 10 mins as default for something else so I always had 10 mins on my screens and I often noticed how much earlier you could get into a trade rather than waiting for the 1 hour. At first I was wary because i remembered reading one of bago's posts about the shorter time graphs and he didn't recommend them because it could take you into a lot of false situations. However during the time I was testing I showed better results overall with the 10m than the 1hr and so I continued with it and so far so good. One thing I have to mention here though is using a 10m graph tends to lead me psychologically to shorter term trading and so I often come out of winning trades too early and to date have not left anything open overnight. That said i'm still very pleased with the results. BTW, no I don't use MT.

I am in the UK and currently using SB's for this but may revert to contracts if I feel they are more beneficial. Spreads i have at present with SB's are GU - 3; Eur/usd - 2; usd/jpy - 2.

The pivots are not necessarily daily, if I see any persistent hesitation I will review the situation and consider an exit or part exit. Sometimes this really hurts because often the trade will continue as planned and I'm a spectator.

Fibs & TL's. I did to start with as an integral part of the decision making but there were too many occasions when I didn't take the signals (against a trend) and end up watching a perfectly good trading opportunity pass me by. So now I still keep a close watch on the trend, more so the shorter term than long term, and if I enter a trade against trend I'll be ready to make a quick exit if necessary. Fibs, jury is out on that one.

I don't use any other indicators now, at first I was looking at others I'd used previously (old habits die hard they say) but I found that like many other things they did nothing other than cloud my judgement. Now being a bit further down the line with Bago's method and my way of using it I have the confidence of the results to show me what this method can produce so that is it for me- 5/12 EMA cross; RSI 21; 10min; It's simple and it's profitable and I'm enjoying it.

I came across Bago's method in december and I spent much of the quieter holiday period going through the thread and started with it after that. Short spell paper trading, short spell live trading with minimum stakes and more recently building up the account and gradually increasing the stake ( no longer using my own money).

As for the trades yesterday I noticed you don't have 10min graph, take alook at it on 5min, the signals came in earlier on both trades. On the 15 minute the second trade signal bar included a large chunk of the move making it a very long bar and unlikely to have been traded unless a decision had been made to enter during the bar which would have been difficult as it was such a swift down move. Using 10min I always wait for the bars to complete.

I suppose what it all comes down to is 'horses for courses'. I have found a way for Bag's method to work for me and my temperament and situation. I believe the method is so good it could be adapted in many many ways for individual styles and still work profitably. Will be interested to see how others are using it. How about yourself, are you using it, how is it doing for you? Hope some of this might help in some way or another and apologies for the length of it.

regards, strada.

sold 3 lots of usd/jpy at 177.27 following bago plus another 1 in stop entry at 117.19 because 117.22 was support and if it broke....well, just hit 116.99. still short

bought 1 at 116.85

closed at 116.80

bought another 1 at 116.70

still short of one

so where should i buy the lot i'm still short of ???

115.20 looks interesting

but i don't think i'll hold that long, we'll see

P.S:

THANKS BAGO !!! YOU'RE THE MAN !!!

i am now long of 3 lots AUD/USD AT 0.7860 in Bago mode.


keep you updated

looking for a quick exit on this i'll be out before .7870

out of AUD/USD at 0.7868

thanks bago

now long of cable in bago mode. 3 lots at 1.9350

1hr vegas tunnel around my entry level.....what to do ??? i should i thought about before enetring the trade.

this will need to be monitored pretty good. let's hope it breaks through and up

this was a loser, i decide to exit because it diddn't break through the vegas tunnel. 10pips loss....

the setup on the bagovino charts still looks good but, i stopped myself out at 1.9340

just in time i must say, it is now at 1.9322

my overall impression on cable is down, about 2 or 3 handles to start with...that probably is what made me decide to exit this position. dificult to go long when you think the market will go down....


anyway, lets keep an eye on usd/jpy....this might be the begining of something big big big....