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Bagovino Method

  • #3,761
  • Apr 19, 2013 12:44am Apr 19, 2013 12:44am
As of right now I'm up to $945. I am using a totally different system specifically tailored for 60 second binary. I combine a few things... The system, money management, price action, pivot points and I only trade at certain times. I am typically only trading 2 hours per day, 4 days per week.

Thanks for the kind words!

Bags
"Skills pay the bill's!"
  • #3,762
  • Apr 19, 2013 12:54am Apr 19, 2013 12:54am
You're right Tommbstone. 60 second binary's are NOT for the faint of heart, that's for sure! I've had many nail biting, blood pressure raising trades! This style of trading is NOT for everyone. However, it really suits my personality well. I'm a very instant gratification kind of guy. I'm also a risk taker as well. I definitely get a rush from it. I also like the fact that you earn 70%+ return from each trade and your downside is 100% limited as to the amount of money you risk.

~B.
"Skills pay the bill's!"
  • #3,763
  • Apr 19, 2013 2:23am Apr 19, 2013 2:23am
Quoting bagovino
You're right Tommbstone. 60 second binary's are NOT for the faint of heart, that's for sure! I've had many nail biting, blood pressure raising trades! This style of trading is NOT for everyone. However, it really suits my personality well. I'm a very instant gratification kind of guy. I'm also a risk taker as well. I definitely get a rush from it. I also like the fact that you earn 70%+ return from each trade and your downside is 100% limited as to the amount of money you risk. ~B.

well I'm running about 50/50 so i need to perfect my entry. I too like the instance gratification but the nail biting it not so fun.. I just get made when as soon as trade closes it runs your way. that gets my goat.
  • #3,764
  • Jun 23, 2013 1:27pm Jun 23, 2013 1:27pm
Quoting bagovino
I'm up to $715 from $300 as of tonight and I still have an hour or two of trading to go. I am actually trading binary's on the 60 second charts. ~B
Welcome back!

Time to start a new thread around your latest system?
  • #3,765
  • Aug 11, 2013 6:20am Aug 11, 2013 6:20am
HI Bagovino i like your simplicity in the system, am given it a try thanks for generosity.
  • #3,766
  • Sep 19, 2013 9:36pm Sep 19, 2013 9:36pm
What happen Bagovino? are you still killing the 60 second trades? Never saw the charts

Hope your killing the brokers bro.
  • #3,767
  • Sep 24, 2013 2:29am Sep 24, 2013 2:29am
To do more than 100% of the deposit for one day is very dangerous and unreliable. Perhaps he traded in large lots.
A some point will fall a bad day and huge loss not escape.
Greed and fear kills traders
  • #3,768
  • Sep 24, 2013 2:41am Sep 24, 2013 2:41am
I also deal in binary options and I think that 2% per day is very good. But no anymore otherwise the market will be retaliate (I'm superstitious).
Greed and fear kills traders
  • #3,769
  • Sep 25, 2013 5:02pm Sep 25, 2013 5:02pm
Quoting bagovino
As of right now I'm up to $945. I am using a totally different system specifically tailored for 60 second binary. I combine a few things... The system, money management, price action, pivot points and I only trade at certain times. I am typically only trading 2 hours per day, 4 days per week. Thanks for the kind words! Bags
Would you mind sharing some more details about your bins strategy? Do you still use the EMA crosses with RSI-21 confirmation for binary entries?
Thx.
  • #3,770
  • Nov 20, 2013 2:39pm Nov 20, 2013 2:39pm
For those who subscribe to this thread sorry my post here, unfortunately it has nothing to do with Bagovino method.

I will delete the message as soon as I am done. Strada if your reading I think you will know why.

Martyfish could you take a look at the chart here and tell me if you would have scaled in on this after the London open?
The blue line being the Daily PP. Would it be possible to point out exactly where you would have scaled in?
on the 9th Bar after the LO or would you have waited till below the PP?

Thank for your time
Regards Anthm
Attached Image (click to enlarge)
Click to Enlarge Name: Martys example two.jpg Size: 345 KB
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,771
  • Nov 21, 2013 3:55am Nov 21, 2013 3:55am
Morning Anthm, yeah that's the oddest bago chart we've seen on here alright. Ha Ha.
Understand why you had to do it this way though, hopefully for not too much longer.
I'll balance things out for you and post a bago chart for today. Mixed bag today like yesterday but not a bad week overall on bago (on GU). I've been doing the odd G 1min trades and very pleased with results. I'm going to have to re-evaluate, probably at the year end. Don't want to increase my trading time though so bago still has the edge on that score.
Continued success with your G trades, all the best for now, strada.

Attached Image (click to enlarge)
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  • #3,772
  • Nov 21, 2013 1:35pm Nov 21, 2013 1:35pm
Morning Strada,
I am loving to see the Bago chats, Trade 4 would have been painful, as ever you showed your superior discipline there. I am seeing the worth in the Bago strategy especially screen time verses profit.
Hmm, you have me thinking again. I have been profitable with G over the last 6 weeks but yes it requires a lot of screen time, mind you I am on M5-15. My biggest and best trading revelation has come from only trading with the trend, looking back at my results for the last 6 weeks or so the CT,s just are not working for me so Counter trend trades for me now are completely off the menu. Just means monitoring more pairs to get on the table quicker. (HMM, now there is a thought, Bago,with the trend, multiple currencies? Just thinking out loud)
Anyways have a great day.
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,773
  • Nov 22, 2013 1:10am Nov 22, 2013 1:10am
Morning Anthm, yes time is a big factor here and everyone will have their own limits as to how much they can apply. Obviously this is more critical using short TF trading and I know everyone will have differing limits of sustained concentration, which with 1 min charts especially has to be recognised and built into their trading plan.
When I was trading 5min charts I used to trade all day, I was in a position where I could after selling my company but by the end of the day I was like a total zombie and couldn't hold an intelligible conversation with anyone as my head would be full of Fx and I couldn't extricate my brain from it for hours, most nights hardly at all. Now, as you know I like to do a couple of hours in the mornings, fortunately being in the Uk I catch the European and London starts and I'll take and be happy with what I get.
Last couple of days on GU was not great but I was Ok for the week and this morning I was only just set up when I saw that little signal on EU with a very cheap SL (using recent Lo's) so treated it as a continuation. GU was up against the number and not showing anything so EU it was to start.
On trade 3 after that good move up I'd taken tp1&2 with some bonus pips and then after getting stopped in its tracks before the number decided to take the best i could on tp3 and finish for the day.

OK I'm thinking about your idea on bago with trend and multiple currencies. I used to do 3/4 on 5mins, all I could manage. But I never used trend from HTF's, I was only concerned with what I could see to my left on the 5min chart and during any strong moves would be careful with CT signals, sometimes use reduced stakes but definitely only enter if I had a good cheap SL to use. Similarly on 1min charts, and I definitely don't consider HTF's for trend on 1min, don't think we need to if we're looking at tp1 around 7/8 then SL reset to BE. Will think more on this and touch base with you over the weekend.
Have a good one, regards, strada.
Attached Image (click to enlarge)
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  • #3,774
  • Nov 22, 2013 1:31am Nov 22, 2013 1:31am
Thank you Strada, all well received and understood.
Nice work on EU
GU didn't work at all with that BRN even the news didn't seem to shift it as much as the EU.
Rather disappointing really, After my trading day all as I can say is that thankfully there is alcohol
and I will be administering some as soon as I finish this post. Touch base on the weekend would be great.
Enjoy your day. 17.30 here now, sun setting.
Cheers Anthm

EDIT. Literally as I opened my beer the thing dropped 15 pips in 7 minutes. Shutting it down to enjoy my happy hour.
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,775
  • Nov 22, 2013 1:36am Nov 22, 2013 1:36am
Quoting anthm
Thank you Strada, all well received and understood. Nice work on EU GU didn't work at all with that BRN even the news didn't seem to shift it as much as the EU. Rather disappointing really, After my trading day all as I can say is that thankfully there is alcohol and I will be administering some as soon as I finish this post. Touch base on the weekend would be great. Enjoy your day.17.30 here now, sun setting. Cheers Anthm
But you won't see much sunset where you're going! Enjoy that beer, I'm making do with tea and bacon sannies. Cheers.
  • #3,776
  • Nov 23, 2013 7:39pm Nov 23, 2013 7:39pm
Morning Strada
I would like to go over some old ground, if you have the time could you please offer your take on the below.

With reference to your Fridays chart please correct me if I am wrong but the SL for Trade 1 was easy to work out, I suspect you used the pivot point that occurred three minutes earlier to your entry and subtracted 1 pip off it. And like wise with your trade 3 did you use the PP that formed 4 minutes earlier and subtract a pip. (on a short it would be PP plus 1 pip plus the spread)

Trade 2 is a little more difficult , may I ask what SL you used here and how you calculated it, may I ask at what point would you have not made entry because SL became too expensive? A few times of late I have stupidly entered too late into a price shift and used an arbitrary SL of 12 pips on these ones and got knocked out. In my example the last pivots where more than 12 pips away from my entry and I stupidly entered only to get knocked out on the retrace.

Do you always have some calculated structure on your SL and further to that is there, and at what point does entry become too expensive with regard to SL.

Kind Regards
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,777
  • Nov 24, 2013 11:25am Nov 24, 2013 11:25am
Hi Anthmm have responded below in blue~

Q - With reference to your Fridays chart please correct me if I am wrong but the SL for Trade 1 was easy to work out, I suspect you used the pivot point that occurred three minutes earlier to your entry and subtracted 1 pip off it.
Yes, and because price was moving in such a small range at the time a 5/12 recross could also have occurred before getting below the SL which could also have acted as a cheap exit point.
Q - And like wise with your trade 3 did you use the PP that formed 4 minutes earlier and subtract a pip. (on a short it would be PP plus 1 pip plus the spread)
Yes, similarly as above. On this one though there had been previous signals which didn't materialise into entries due to lack of price improvement. The signal I did use had a lower close than one of the previous, so I did wait for a break of the most recent high before entry. Price did then fall back slightly so I still got a decent fill.

Q - Trade 2 is a little more difficult , may I ask what SL you used here and how you calculated it, may I ask at what point would you have not made entry because SL became too expensive?
The recent Hi/Lo tends to be a secondary consideration when looking at a trade. I'll often watch price run through these and rely more on the 5/12 recross. When it does become an area of concern is when the signal bar is lengthy and any potential Hi/Lo or 5/12 exit is clearly some distance away ie 15-20 pips then I'm concerned, I may still make the trade but possibly with a reduced stake/TP's. Worst case scenario though SL would be 12 +spread on EU.

Q - A few times of late I have stupidly entered too late into a price shift and used an arbitrary SL of 12 pips on these ones and got knocked out. In my example the last pivots where more than 12 pips away from my entry and I stupidly entered only to get knocked out on the retrace. Do you always have some calculated structure on your SL and further to that is there, and at what point does entry become too expensive with regard to SL.
Yep, I've done, got the T shirt and all that. Now you're in a trade you really don't want to be in, you might already be kicking yourself because you missed the actual entry point and now you've taken a bad fill. In this position sometimes it's best to accept that you're going to take a beating so just reduce it as best as possible. Accept that you've made a mistake and get the best exit. At least reduce the stake amount, even if you think the trade has promise. If it's gone into loss, cut your losses at earliest opportunity for least amount. Remember, if your SL is 12 and you can get out for say -8, treat that as a victory ie +4.
BUT WHATEVER YOU DO, DO NOT HANG ON AND LIVE IN HOPE THAT THIS SITUATION WILL RIGHT ITSELF. Sods law says it invariably won't. I'll normally use my "in a hole" strategy here.
Hope this helps. Sunday night here, time for a G&T, speak to you tomorrow, regards, strada.
  • #3,778
  • Dec 12, 2013 9:25am Dec 12, 2013 9:25am
Hi Rooi, hope you don't mind but I've brought your chart and questions in here, seems like the right place.

Attached Image (click to enlarge)
Click to Enlarge Name: BAGO 12.12.2013.png Size: 30 KB


Quote Rooi - Hi

So here is the trade from this morning on the 3 different systems the last one being the one I trade now on the 5min which I took the trade off.

Firstly I want to ask you.How much of this mornings trade was anticipated to the long side or did you just plain follow the Gen System

Secondly I know you look for price to improve on the signal bar before you enter but does it have anything to do with the breaking the high?Would you have gone short on bago if it gave a signal and broke the low?Is this something you pay attention to on bago?

With regards to any and all the system that you follow on the 1min do "anticipate" a direction based on what you think might happen or is it much more defined by the signal.


Ok, I see what you did this morning, you waited for price to break out of the range before entering. Nothing wrong with that.
The initial bago signal was the 6.56 bar and I entered after that. Yes, it was still inside the range, but at that time just before Fr opens, you'll find the market often starts to make some headway. When i get a signal like that before FR or Lon opens I'm happy to take them. I don't pay much heed to what has happened for the few hours prior to Fr open especially if it's been quiet. Once Europe/London gets into action around 7am it's a new ball game and they will dictate what's going to happen. That's why I take the early signals, sometimes they're a non event, but we have no way of knowing and I don't sit on my hands for the opens.
Incidentally I had taken the earlier signal too at 6.46 which didn't go and i managed an exit for -3. Coincidentally, as often happens gen was signalling for the same trade at 6.58. I used the retrace back over the DP for my exit, good pips on the table, I'm not one for giving too many of them back. If I'd ran the trade strictly on bago, I may have caught the next leg up as the 5/12 recrosses didn't show enough price deterioration to cause an exit. I finished at that point as I'm working on some more in-depth testing during my down period in December.

With regards to using bias or direction I don't on 1min charts apart from what I can see to immediate left. If price is moving consistently in one direction then I'll be cautious about any counter trades unless there is a decent 123 or S/R or something to suggest the move may be over. Trends i feel have little value on 1minute, any trade that goes to +7/8 is going to be a profit and then you manage the rest of the trade for whatever it gives, might be another 1pip, might be another 100.
Hope this helps, I'll put up your other chart in the next post.
rgds, strada.
  • #3,779
  • Dec 12, 2013 10:09am Dec 12, 2013 10:09am
Rooi Quote~ Does these high or lows have anything to do with when you might hold or close or even reverse a trade or is it literally just the MA and RSI that affect you thought process regarding BAGO

Attached Image (click to enlarge)
Click to Enlarge Name: GU t2 12.12.2013.png Size: 35 KB


This is not good terrain for trading and if you get caught in it, it can be very hard work. Working along from the left, ie the end of the previous move up which ended just after London open. After the good solid move up, +/- 50 pips, there was a period of congestion or accumulation/distribution, whatever you like to call it. Fortunately in the initial reversal after topping out there wasn't a bago signal the opposit way so you would have had some time to decide what to do about exiting which at that stage would have been TP3 (if you're trading 3 TP's). The first 5/12 recross with RSI recross didn't show any price improvement so probably wouldn't have caused you to exit. The next reverse signal did show some price improvement, a couple of pips which would normally suggest an exit but as you had the benefit of a previous low nearby it's more likely we would have used a break of that for exit. By this stage you would know you're in a fairly lengthy congestion and you don't know when it's going to end or how. So I'd now be thinking of an exit for optimum profit.

Also this was happening just above a number and several attempts didn't cause any breach. When price did aim higher it only broke the previous high by a small amount before coming back towards the number. After this, rightly or wrongly, I'd be expecting price to break the number either as the next move or stop hunting so either way I'd consider any short signal above the number, and if it's stop hunting be prepared for a quick exit possibly with smaller profit. Speculative, so I'd use a reduced stake size.

Overall, I'd let the 5/12 and RSI be the decision makers here but also use the PA you have to guide you on best exit. At around +40 pips if you get it slightly wrong you're not going to lose any sleep over it.

This is all in hindsight, but given the terrain, I can't see that much else could have been done here.

Regards, strada.
  • #3,780
  • Mar 28, 2014 2:32pm Mar 28, 2014 2:32pm
Quoting strada
Rooi Quote~ Does these high or lows have anything to do with when you might hold or close or even reverse a trade or is it literally just the MA and RSI that affect you thought process regarding BAGO {image} This is not good terrain for trading and if you get caught in it, it can be very hard work. Working along from the left, ie the end of the previous move up which ended just after London open. After the good solid move up, +/- 50 pips, there was a period of congestion or accumulation/distribution, whatever you like to call it. Fortunately in...



guys this is one of my favorite systems !
it works great really good
but you need to understand its a trend following system.
so you need to have great RRR
and if you are trading off anything less then 60 min, with out a cover chart you will get killed
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