Bagovino Method | Page 86 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Bag-it: A successful EA based on the Bagovino Method 554 replies

Fully Customizable Bagovino Method EA 43 replies

Newbie question about the Bagovino Method! 11 replies

"Bagovino Method" VS "Cornflower Hourly System" 16 replies

Mouteki-Bagovino-Vegas-Firebird Movie 9 replies

Attachments: Bagovino Method
Exit Attachments

Bagovino Method

  • #1,701
  • Mar 13, 2007 12:11pm Mar 13, 2007 12:11pm
Quoting strada
Hi Rorieu
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.
Hi strada

The best answer I have ever seen bar none. Thank you. I wish my typing was that good. Seems like you're making useful money?

I realise I am trying too much at once. I'm currently watching another system at the same time. Stupid, must concentrate on only one - this one.

My last (sloppy, hurried) trial with the 'new' Bago produced way too many signals, even at M15, more than 50% of which went nowhere.
I agree about the shorter TFs but
1) It’s hard work watching the screen [ Note I'm switching between T5 and T15 to emulate your 10 minute TF. I've added the <EMA-Crossover_Signal> indicator to clarify things a bit] and
2) There are so many unproductive crosses.
How on earth do you pick the good from the bad with any consistency at all?

This is the real challenge - not ever more indicators. That's why I was wondering about TLs or Fibs or pivots or something else as an aid??

Remembering many earlier discussions in the thread, do you first get your 5/12 cross and then wait for the confirming RSI cross as long as it's 'fairly soon' or is ok if it has already crossed? Candle closed of course.
What else supports your decision at this point?

SBs: Currently I'm using Worldspreads (on an 8 week money-back trial basis). Note their spreads are very low EU & UY 1, GU 2, from 8am to 4pm. £1 minimum. I'd much prefer to use IG - excellent, clean interface.

I trust my persistent questioning is not interfering with your actual trading?

Please keep posting your trades, it's very encouraging.

rorieu
  • #1,702
  • Mar 13, 2007 3:23pm Mar 13, 2007 3:23pm
Hi Rorieu
Thanks for the compliment and also the heads up on Worldspreads, will check them out later, their spreads are good. The IG is very clear and their info is sharp and reliable, I also like their new charts. Their spreads are a bit on the chunky side but I use them out of hours, then they are competitive.

Re the number of signals, I don't get that many (ie between 6am - 4pm UK time). Today there were 4 and traded 2 of them, yesterday there were 2 and traded both of them. (tried to upload a chart but failed miserably). At the moment I'm in the fortunate position of being able to spend a reasonable amount of time monitoring the 10min chart so this is not a problem for me timewise.

With crosses I don't worry too much which way round they occur as long as they aren't too far apart timewise (ie 2 or 3 bars OK, but any more and I'm very cautious). TL's, support & resistance I keep an eye on but if the crossovers look OK I won't let them prevent me from entering the trade. If price is very close to any of them I might watch for bounce/penetration; if I'm trading against a solid trend I'll be vigilant and ready to exit if necessary. What I don't want to do is find too many reasons for not trading perfectly good signals, 'he who hesitates...........' The batting average I have with Bago's method at present would suggest to me that even if I traded every crossover it would still be profitable, I'd be a nervous wreck but a profitable one!!

Today my first trade lost 18 pips, exited on a reverse signal which I also entered as a new trade and on three exits made 20, 42 & 20 pips on each third (ie 27 pips overall profit for this trade minus 18 so a profit for the day of 9 pips).

Hope this helps, regards, strada.
  • #1,703
  • Mar 13, 2007 8:09pm Mar 13, 2007 8:09pm
strada

I was about to send you a simplified guide for posting a chart but you’re not using MT4 so no point.
A bit of a pain but you’ll have to use cut and paste for posting. I use SnagIt screen capture program.

I agree about IG’s charts, much better since they adopted IT-Finance but a pity they have disabled so many features (Check out ProRealTime.com, it’s a fantastic product - if only MT worked as well ). CMC and several other SBs use the same charting with more features available but what a dreadful interface. IG’s 50p a point allows for flexible staking too.
I’d forgotten IT-Finance/IG have a 10 minute TF, is this what you use?
Do you find these chart prices correspond well to the actual IG prices real time?
Have you thought about using MT4 - very useful especially as a member of Forex Factory.

If it’s not confidential can you tell me how many pips you estimate per month? I’m not looking for large numbers (like Tick used to gather) but I ‘m looking for a RELIABLE gain each month/week. Then the dream is Y per week at £1 a point (consistently) becomes Yx£5…Yx£10…?

You seem to use large stops –up to 30 pips. Is this experience, you know it works?

“( no longer using my own money)” interesting!? My ambition...

rorieu
  • #1,704
  • Mar 13, 2007 8:14pm Mar 13, 2007 8:14pm
how do you use bago with the tunnel trading?? i notice tunnel trading gets you in a little late sometimes, does bago help with that??? i would appreciate it if someone were to PM me!! thanks!!!!!!
  • #1,705
  • Mar 14, 2007 9:29am Mar 14, 2007 9:29am
Following Strada's comments, i have been looking at cable on 10 mins

I use Prorealtime, which is easy to set up (although not free) and I like to be able to put fibs from higher time frames on the 10 min chart

Scrolling back through the last few weeks, there were plenty of good signals, although easy with hindsight

there was a good signal this afternoon at 1.30

Depending on how quick you were to get in, trade was good for 50 pips and still going - sadly did not catch this as doing something else - need to set up alarm!
  • #1,706
  • Mar 14, 2007 11:54am Mar 14, 2007 11:54am
Quoting rorieu
strada

I’d forgotten IT-Finance/IG have a 10 minute TF, is this what you use?
Do you find these chart prices correspond well to the actual IG prices real time?
Have you thought about using MT4 - very useful especially as a member of Forex Factory.

If it’s not confidential can you tell me how many pips you estimate per month? I’m not looking for large numbers (like Tick used to gather) but I ‘m looking for a RELIABLE gain each month/week. Then the dream is Y per week at £1 a point (consistently) becomes Yx£5…Yx£10…?

You seem to use large stops –up to 30 pips. Is this experience, you know it works?

“( no longer using my own money)” interesting!? My ambition...

rorieu
Hi Rorieu
If you're using IG for trading the prices quoted and reflected in the chart are what you will trade. I use the IG charts but trade through Capital and there is a slight differential between their quotes but not substantial and I'm quite used to this now. When I get to trading £500 a pip I may have to reconsider this, LOL.

I haven't as yet settled on any monthly target and don't know if I will in future. We all know we have to take what the market gives us rather than we dictate to the market what it should be paying us and as a relative newbie I think it would be arrogant of me to do so. Over tha last few weeks I have been averaging 200 pips per week on cable with Bago's method, I really wouldn't know whether that is good, average or whatever but if i can continue doing this and raising my SB stake as my account allows I'll be very happy with this return. Also I'm starting to look more seriously at some of the other pairs.

Your'Y' formula is more or less what I did. I set the account up purely as an experiment and at the start traded small amounts. It didn't take long for the trading to become self-financing and now each weekend I review the bank and set the stake per pip for the following week. The 30 pip SL came from Bago's thread, there seemed to be a consensus way back that was about right for cable, I see no reason to change this for now. I dare say some will argue that my first profit take of around 30 pips against a 30 pip SL is not a good risk-reward ratio but with around 80% hit rate at present I'm not losing any sleep.


NKE

About the signal this afternoon. I had to think long nad hard about that signal. On a 10 min chart a bra with 53 points lo - hi takes some fathoming. That could well have been the whole move, was there anything left? I went in at the end of the next bar seeing as how it didn't immediately retrace, but even then very tentatively. Took the first profit at 9310 and the second at 9350 (thought we had a double top). last third still open and has SL of 9310. I'm normally very wary of trading off a signal bar that size but glad I did today. As you say hindsight makes it look easy, should have made my first profit take at 9370!

regards, strada.
  • #1,707
  • Mar 15, 2007 12:26am Mar 15, 2007 12:26am
Strada,

You have got it down.... 80% profitable! You can't expect much more. You said you get 200 pips per week and asked if thats good... Thats amazing, considering 90% of traders fail!!! Welcome to the elite 10%. Stay with what you are doing and you will be very wealthy.

If you would share more with the group on how you trade my system I'd appreciate it. Maybe in a PDF format to download.

thanks,
Bagovino
"Skills pay the bill's!"
  • #1,708
  • Mar 15, 2007 3:28am Mar 15, 2007 3:28am
Strada

200 pips per week with Bago's method is very impressive especially if it’s only with cable! I’ve been studying another method recently hoping to achieve about (a mere) 300 per month!

Regarding other pairs despite not making much progress I do look at other pairs. Usually EURUSD, USDJPY and sometimes USDCHF. AUDUSD is worth a look too because it’s another of the 1 pip spread ones on Worldspreads. Let us know when you decide

Please keep posting
Regards & thanks

rorieu
  • #1,709
  • Mar 15, 2007 4:18am Mar 15, 2007 4:18am
Quoting bagovino
Strada,

You have got it down.... 80% profitable! You can't expect much more. You said you get 200 pips per week and asked if thats good... Thats amazing, considering 90% of traders fail!!! Welcome to the elite 10%. Stay with what you are doing and you will be very wealthy.

If you would share more with the group on how you trade my system I'd appreciate it. Maybe in a PDF format to download.

thanks,
Bagovino

Hi Bago, thanks for that, appreciated and yes I'll keep it going and hope this isn't an isolated purple patch, I don't believe it is.

Have tried to upload a chart but with no success and don't have a great deal of time today but will try later. In the meantime the link below should go to the 10 min chart and you can see the signal for yesterday's trade. There was another signal during the Asian session around 1.50 and further confirmed at 4.30. The signal refered to in my previous post was at 1.30.

http://cs1.it-finance.com/LCG/showim...11739494464474

strada
  • #1,710
  • Mar 15, 2007 8:15pm Mar 15, 2007 8:15pm
Can someone please answer a few questions about this method?

If entry signal is given by the EMA cross, would the RSI need to be at 50 or near 50 going the same direction of the MAs?

What are some good exit strategies?

How does one calculate the accuracy of the method (author has mentioned between 80 to 85%)?
Thanks, DL
  • #1,711
  • Mar 15, 2007 11:05pm Mar 15, 2007 11:05pm
Quoting lcfxtrader
Can someone please answer a few questions about this method?

If entry signal is given by the EMA cross, would the RSI need to be at 50 or near 50 going the same direction of the MAs?

What are some good exit strategies?

How does one calculate the accuracy of the method (author has mentioned between 80 to 85%)?
Thanks, DL
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
  • #1,712
  • Mar 16, 2007 9:30am Mar 16, 2007 9:30am
Wish I'd been awake at 6:30 this am to catch the move in cable.
Could you experts; strada, Bago and all, let us -the learners- know how you would have managed the 110pip increase to get the most out of it please?

(yet) Another question for strada:
Would you enter a move late, well after the MA cross? For example today's cable move at say, 9:00am when there was (in hindsighht admitedly) plenty left?

R
Attached Image
  • #1,713
  • Mar 16, 2007 10:11am Mar 16, 2007 10:11am
Quoting rorieu
Wish I'd been awake at 6:30 this am to catch the move in cable.
Could you experts; strada, Bago and all, let us -the learners- know how you would have managed the 110pip increase to get the most out of it please?

(yet) Another question for strada:
Would you enter a move late, well after the MA cross? For example today's cable move at say, 9:00am when there was (in hindsighht admitedly) plenty left?

R
Here for this case also it is necessary Stohactic !
  • #1,714
  • Mar 16, 2007 10:39am Mar 16, 2007 10:39am
Quoting maihua
Here for this case also it is necessary Stohactic !
!
Attached Image
  • #1,715
  • Mar 16, 2007 3:07pm Mar 16, 2007 3:07pm
Quoting rorieu
Wish I'd been awake at 6:30 this am to catch the move in cable.
Could you experts; strada, Bago and all, let us -the learners- know how you would have managed the 110pip increase to get the most out of it please?

(yet) Another question for strada:
Would you enter a move late, well after the MA cross? For example today's cable move at say, 9:00am when there was (in hindsighht admitedly) plenty left?

R
Hi Rorieu, well I was awake and entered the trade immediately after the 6.50 bar closed, I even got a generous fill. After that I made a complete dog's bo11ox of the trade and I'm still kicking myself and barking at anyone that comes near me. So I don't feel qualified to answer your question but I'll be very interested to hear what others would have done.

I entered the trade at 9386. I took my first profit take at 36 pips. When the market retraced to 400 as you'd expect I must have panicked, no other logical explanation, and I closed the other 2 thirds for 15pips. As you say in hindsight the chart makes it looks easy, there were many re-entry points but I missed them all somehow, just found it difficult to get back onto it.

In an earlier response to you I'd said I like the 5/12 & RSI cross to be fairly close together. I made an exception to that rule this afternoon at 3.40. The 5/12 cross happened at 1.00 but it looked like a good set up so I went short at 9453 with a tighter than normal SL of 20. It cheered me up a bit. Today for me was about breaking some of my most basic rules and being really undisciplined so back to the class for the weekend.

All told it has still been a brilliant week for me on Bago's method, looking forward to next week already. Now it is time for a drink, dinner and trying to relax. Have a good weekend.

strada.
  • #1,716
  • Mar 16, 2007 5:06pm Mar 16, 2007 5:06pm
Hello Strada thanks and for your email . I was given this system by a professional trader just recently. I am still in the demo mode but i entered at 9388 this morning and just put in a flat 30 pip tp.so i was out at 9418. I am going to continue reading the thread this weekend. (I am at page 24) lol but i really am not sure of an exit strategy yet, maybe something will come to light later in the thread. I am not very familar with how to draw and use Fibos. there was a post with some info on it to down load. I will go back and see if i can find it.I am very open to any suggestions from you or anyone else using this system. Seems kinda odd the thread just seems to have died out!
Quoting strada
Hi Rorieu, well I was awake and entered the trade immediately after the 6.50 bar closed, I even got a generous fill. After that I made a complete dog's bo11ox of the trade and I'm still kicking myself and barking at anyone that comes near me. So I don't feel qualified to answer your question but I'll be very interested to hear what others would have done.

I entered the trade at 9386. I took my first profit take at 36 pips. When the market retraced to 400 as you'd expect I must have panicked, no other logical explanation, and I closed the other 2 thirds for 15pips. As you say in hindsight the chart makes it looks easy, there were many re-entry points but I missed them all somehow, just found it difficult to get back onto it.

In an earlier response to you I'd said I like the 5/12 & RSI cross to be fairly close together. I made an exception to that rule this afternoon at 3.40. The 5/12 cross happened at 1.00 but it looked like a good set up so I went short at 9453 with a tighter than normal SL of 20. It cheered me up a bit. Today for me was about breaking some of my most basic rules and being really undisciplined so back to the class for the weekend.

All told it has still been a brilliant week for me on Bago's method, looking forward to next week already. Now it is time for a drink, dinner and trying to relax. Have a good weekend.

strada.
  • #1,717
  • Mar 16, 2007 7:09pm Mar 16, 2007 7:09pm
Quoting George B.
Hello Strada thanks and for your email . I was given this system by a professional trader just recently. I am still in the demo mode but i entered at 9388 this morning and just put in a flat 30 pip tp.so i was out at 9418. I am going to continue reading the thread this weekend. (I am at page 24) lol but i really am not sure of an exit strategy yet, maybe something will come to light later in the thread. I am not very familar with how to draw and use Fibos. there was a post with some info on it to down load. I will go back and see if i can find it.I am very open to any suggestions from you or anyone else using this system. Seems kinda odd the thread just seems to have died out!
Good evening GeorgeB, well done on your profit this morning, you decided what you wanted and you succeeded, you were in control.

Until now, well yesterday might be more accurate, I used a very basic exit strategy. The SL is normally 30 so if there are 30 pips profit showing in a trade I'll take a third of the position out and move the SL to break even on the other 2 thirds. It's discretion after that but depending on the market and any difficult S & R or TL breaks or if I see 50 or 60 pips profit then I'll take another third out. The last third I'll let run probably with the SL set where I took out the first third (ie entry price +30). That would be closed where there is obvious exhaustion or if there is a reverse signal or SL gets hit. It's not very scientific but so far has worked well.

Bago likes using fibs and I hope he will spare some time telling us how he has adapted the principle into his trading for the method, I reckon that would be a lot more definitive and probably more calculated for the purpose of exits.

If you want some basic info on fibs you'll come across some sites recommended by other posters as you go through the thread, one of them was fibonaccibook.com but there are loads of them if you google it.

regards, strada
  • #1,718
  • Mar 18, 2007 6:03pm Mar 18, 2007 6:03pm
Quoting rorieu
Wish I'd been awake at 6:30 this am to catch the move in cable.
Could you experts; strada, Bago and all, let us -the learners- know how you would have managed the 110pip increase to get the most out of it please?

(yet) Another question for strada:
Would you enter a move late, well after the MA cross? For example today's cable move at say, 9:00am when there was (in hindsighht admitedly) plenty left?

R
Vegas tunnel will give you very good exits. Check it out for yourself, on various time frames.
  • #1,719
  • Mar 18, 2007 11:25pm Mar 18, 2007 11:25pm
Hello everyone!

I am a full-time trader (however new to F.F.) and I just wanted to pass on my admiration for this thread. I will soon be posting various results and ideas regarding bago as I am slowing implementing aspects of this method into my trading. I have always believed in trading confirmation, not prediction, and this method capitalizes on that concept. Congrats to all who have had success here, I look forward to communicating with you!
  • #1,720
  • Mar 19, 2007 2:55am Mar 19, 2007 2:55am
Mr. Jingles,

I'm looking forward to your experience and input!

Bago
"Skills pay the bill's!"
6 traders viewing now