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Bagovino Method

  • #281
  • Sep 3, 2006 8:27pm Sep 3, 2006 8:27pm
Just thought I would give you a chart that is still moving in my direction.. but is an example of what my chart looks like when I trade. I am still playing with fibs..thanks to the many great traders that sent me instructional information on them.

This system works..I can do many charts trading now on this system. This one stood out as an excellent example.

I am not sure what tomorrow will hold since it is considered a US Holiday...Labor Day. We will see.

Tick
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  • #282
  • Sep 3, 2006 8:30pm Sep 3, 2006 8:30pm
Quoting shaimus
Being a forex junky I decided to manually back test this on the EUR/USD and the GBP/USD for now as they are the ones that I trade live. Now during my manual back testing I threw out News Movements.. they are seperate trades by themselves. In addition I took the method as blended with the Vegas 1 hour tunnels.. For the GBP/USD for the month of July I noted 12 real trades 9 winners and 3 losers using the 1 hour chart. The losers were 30 pip stops for a totla of -90 pips.. The winners were in total +1047 pips for a net of +957 pips.

For the EUR/USD I started at June 1 and came through July 31 with a total of 18 trades 4 losers at 30 pip stops so -120 pips and 14 winners for +889 pips a net of 769 pips.

On both of these I used my trading experience as to when to take my profit via the fib levels.

In addition I have scanned back to the beginning of the year and can see that there are many more winning trades than losing trades and by putting a 30 to 35 pip stop in you would come out very very well ahead. I have also scanned the charts for the USD/JPY and the USD/CHF to get an idea of how this method would play out with them.. Again using it in conjunction with the Vegas Fibs you have placed yourself at an advantage by having information as to the markets longer term move (Movement within the trading day) and if used with some sense will greatly enhance the profitablity of trading currencies.

And with any method I feel its important to know what the support and resistance levels are for the day and combine that knowledge with the fibs just adds to the confidence when pulling the trigger.

Will do more manual back testing and recording the results as time allows..

Shaimus
G'day Shaimus,
Thanks for sharing your info. I intend backtesting (I think there IS value in manual backtests if done properly and even if you use discretion and have past news calenders available). Did you only enter upon the close of the 1h bar? Did you take trades (say long) with entries on BOTH sides of the Vegas 1h tunnel? If a long entry was South of the tunnel, would it need to be at the outer fib levels? If South but CLOSE to the tunnel, would you wait until it crossed above the tunnel, or enter regardless. Do you have a spreadsheet of your tests that you'd be willing to share?

I've named the regions bound by the vegas 1h fibs as the following: between the tunnel and the 34 fib (at the entry bar) = N(north)1, between the 34 and 55=N2, between 55 and 89=N3, between 89 and 144 = N4, between 144 and 233 = N5 and beyond 233 = N6. Similarly on the South side of the tunnel I have S1 to S6. I'm considering setting entry rules/filters based on where the entry price is. The concept is just as suggested by Vegas, but I've just named the regions for my own simple reference. Naturally the rules will vary depending on the volatility of the currency pair. For GBPUSD, I'm considering long entries ONLY if entry is in S5-S6 or N1-N4. Similarly short entries if entry is in N5-N6 or S1-S4. Interested if people think this would have any value.
Cheers
  • #283
  • Sep 3, 2006 8:45pm Sep 3, 2006 8:45pm
Quoting dejonese
Bogavino and everyone else who jumped on me! Yes, I've lost money TRADING forex, but have done very good holding GBPJPY the past year.
I am not here to trash... maybe I just simply did not fllow the instructions and got this wrong... MAYBE!!!
but to repeat my point: If you are using the vegas 1hr method, by the time you get into a trade with your system you are at the second or third Fib interval. Usually the only way is opposite.
Also, for those seeking examples of it not working... here you go (keep in mind that you can only use this system ON CLOSE... MA is not a psychic tool and you only know of a firm cross on CLOSE!!!... also, I am asuming that we only use the FIB lines to close in opposite direction, as explained by the creator's later post):
USDCHF-06/08/29 18:00 open sell on close at 1.2275 (3 lots)... close sell at 1.2284 19:00 1 lot, 06/08/30 close sell at 1.2295 10:00 (1 lot), close all lots at 1.2292 on close at 10:00 per creator's instruction. Want more examples...? well, follow the hourly the rest of the day after that. REMEBER, you buy on close because you are waiting on the MA cross (if you do it intrahourly, you could have more than one cross).
The only cross this is profitable on is GBPJPY, and that's a 'penny profit'.
The reason my response was harsh because you described this system as YOUR/GOD's gift to us mortals... read the thread post...
i've been in these threads for almost a year and in forex for a few. I've must have gone through 200 different loser systems and probably designed 100 loser systems myself. I never touted them as the best system possible or one with 85% acuracy. That annoys me, especially if it is wrong!
For everyone else snapping at me for criticizing this system... GO AHEAD AND TRADE IT (please, use a dummy account)... please record your trades and send them to me on [email protected] (please, no flames... I won't respond and you'll be showing your immaturity)... if you can show this system is 85%... hell, 60% acurate, I will personaly come here and post a sincere and honest appology to you all, including bogovino... if not, STOP HYPING AND START BUILDING YOUR OWN SYSTEM!!!
ONCE AGAIN.... review the 4-5 posts I made here... I don't participate, I observe... and I DO NOT TRASH
Dejonese
PS: i spent years testing systems hoping I'll find something that works... THE VEGAS METHOD IS AS CLOSE AS YOU'LL GET TO A COMPETANT TRADING SYSTEM... bogavino used with vegas simply negates the principles of the vegas system which are to trade above and below the 144/169 EMAs. Why would one change a successful trading system for something with less acuracy.
Hi my friend! What you may want to consider is to not come across as being aggressive. You need to realize that this system has been traded extremely successfully for a while now with phenominal results especially for me since I watch 20 currencies.

Instead of doing what Rainman did and come here with statistics, backtesting, etc...and not actually trade this system, you may want to kick back and try this on a demo and ask questions if you don't understand it.

What I do not understand is that people come here and talk about backtesting. That was the fall of our resident skeptic, rainman, rainboy or something like that. NO ONE does a proper backtest. They do their version of it and return here telling us that it does not work. When we trade the system...it works. By having someone come here and tell us that it doesn't, we take that personally.

To do a perfect backtest, you need to go back 2-3 years, using all traded foreign currencies, all trading timeframes, using various systems, indicators, factor in holidays..NEWS, good and bad, stock market events, non-farm payrolls, and you can go on and on and on...then test three times all over again and you will not come up with the same conclusion twice. Three people doing the same tests will not even agree. Mechanical and non-mechanical testing differs too. So we not only have problems with people coming here and telling us that this system does not work. We have had people test this and say that it does work, and nicely too!

Don't be offended if you are shrugged by the traders that use this system and make money doing it. I have yet to see anyone come here and tell us what their background is and what makes them an authority on mathematical statistics. I have yet to see anyone come here and tell us how they tested the system. That was another downfall of Rainboy.

Please come here and ask questions about the system if you want to learn it. Don't attack the system and don't come across as being unfriendly.

Others came and attacked this system and were told nicely to leave..they were not wanted. Choose to say but don't tell us that the system does not work please. Lose the numbers, percentages, statistics, theories, equasions, ...etc. Trade.....learn how to trade it or move on.

I am sure that I speak for others. Also, look at the chart I just submitted. Your mathematical statistics cannot tell me that it cannot work.

Now enjoy yourself and learn a phenominal system and make money. You lose out on trades by telling us how the system cannot work when we are on our way to the bank.

Here is my theory ... Trade = makes $$
Useless statistics = NO $$

Tick
  • #284
  • Sep 3, 2006 8:58pm Sep 3, 2006 8:58pm
This is the third time I've asked.Somebody please tell me ,what it is EXACTLY, that this system does 85 times out of 100?
  • #285
  • Sep 3, 2006 9:02pm Sep 3, 2006 9:02pm
Quoting TheGreatMilenko
This is the third time I've asked.Somebody please tell me ,what it is EXACTLY, that this system does 85 times out of 100?
If you would, please locate the thread that this was refering to and quote same and send a PM to the person that originated it. That would be the best way to get an answer directly.

Tick
  • #286
  • Sep 3, 2006 9:08pm Sep 3, 2006 9:08pm
If you don't like this system, why bother with it , go try something else.
  • #287
  • Sep 3, 2006 9:09pm Sep 3, 2006 9:09pm
Quoting Tick
If you would, please locate the thread that this was refering to and quote same and send a PM to the person that originated it. That would be the best way to get an answer directly.

Tick
Tick,
It refers to the first post on THIS thread, by Bagovino.
  • #288
  • Sep 3, 2006 9:12pm Sep 3, 2006 9:12pm
Quoting dejonese
The proof is in the pudding... now show me the pudding!!!
Dejonese
Apparently ENGLISH is not a first language. My appologies here, I thought you would have understood the meaning of .... play nice or do not return.

Let me know if you need a translation for that and tell us what your first language actually is and I will tell you what web site to go to to translate what I just typed.

We do not have to show you anything....... we are the successful traders here. You are the one that does not trade the forex. Want to learn how to trade this wonderful system..ask questions about indicators, times to trade, entry and exit thoughts, etc.... do not challenge us or tell us the system does not work. You will lose....big time.

Either play nice with the big boys or move on. You sound like the child rainboy we just booted from here. Want to join him? A letter from everyone here sent to the forum administrator stating your distrupting the harmony of this thread by challenging and making everyone angry at you will result in your dismissal from this thread. Read the rules and move on to the thread that rainboy is now on. The two of you would make a nice couple...then again, you sound just as experieced in the forex as he does... NOT! One more stupid message from you and your history and I will start the ball rolling. Feel like challenging us here?

TICK
  • #289
  • Sep 3, 2006 9:21pm Sep 3, 2006 9:21pm
Quoting TheGreatMilenko
This is the third time I've asked.Somebody please tell me ,what it is EXACTLY, that this system does 85 times out of 100?
Create arguments.


And there is only One solution...Edit post #1.

"most successful Forex trading method to date!

I have caused alot of shake ups on other threads due to the domination of my method...

It's quite simple. 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.

...at least 85% accurate!"


Nothing is said about Discretion, fib levels, etc.


I still plan on testing the system in my free time, I don't really have any doubts that with discretion it is most likely successful.
  • #290
  • Sep 3, 2006 9:25pm Sep 3, 2006 9:25pm
Quoting stricko108
If you don't like this system, why bother with it , go try something else.
stricko108,
I hope that message isn't aimed at me.I've already said, the system is looking good to me for AUD/USD. But, I genuinley want to know, EXACTLY where this figure of 85% comes from.
  • #291
  • Sep 3, 2006 9:25pm Sep 3, 2006 9:25pm
Dejonese,

To clarrify since you seem to think that I had my + and - signs backwards.. I manually tested by going to the biginning of the month/months in question with the relative indicators on the one hour chart. I them moved the chart one candle at a time using the F12 button and marked when I would enter a trade based upon the relevant signals and location within the fibs (thats called trader discretion).. then I continued to move forward and marked where I would have been stopped out and where I would have closed a trade.. Thats what a manual back testing is.. and I only saw the current candle as it came into veiw thus I made the trading decision without knowing the outcome..

Now I, like anyone else, enjoys discussion as to the potential benefits or potential down falls of any trading method.. but to make statements as you have, such ass my signs were reversed and in the manner that you have is not in my opinion what this forum is all about...

And as far as numbers and statistics, I understand them quite well having an accounting degree and 17 years of public accounting under my belt and more than 3 years of Forex Trading (mostly successful) under my belt. Now personally and professionally I don't think there is such a thing as a sure thing, but I do know that there are tools to allow you to make an intelligent decision that will put you on the winning side more often than not.. And one tool that works for one person may not suit another.. But why slam the tool?? Why not go looking for the one that works for you..

Do I see this as a useful tool for my arsenal to assist me in making the informed and intelligent decision.. Yes.. Will I rely only on this one.. No, but will use it in conjunction with the other tools that have allowed me to trade successfully and profitably for the past 3 years and look to this tool to assist in increasing the % of winning trades and the gains to my account..

Now I hope you have a nice evening and have many profitable trades with what ever tools work for you..

Shaimus
  • #292
  • Sep 3, 2006 9:27pm Sep 3, 2006 9:27pm
Quoting TheGreatMilenko
stricko108,
I hope that message isn't aimed at me.I've already said, the system is looking good to me for AUD/USD. But, I genuinley want to know, EXACTLY where this figure of 85% comes from.
I think, and I may be wrong, it is from the past month of forward testing by Bagovino and another in this thread.. You'd have to go to the Sidus thread to dig up the exacts from their trade testing..

Hope I was able to help..

Shaimus
  • #293
  • Sep 3, 2006 9:28pm Sep 3, 2006 9:28pm
Quoting KevinX
Create arguments.


And there is only One solution...Edit post #1.

"most successful Forex trading method to date!

I have caused alot of shake ups on other threads due to the domination of my method...

It's quite simple. 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.

...at least 85% accurate!"


Nothing is said about Discretion, fib levels, etc.


I still plan on testing the system in my free time, I don't really have any doubts that with discretion it is most likely successful.
I like your style kevinx. Like your style.
  • #294
  • Sep 3, 2006 9:30pm Sep 3, 2006 9:30pm
Quoting dejonese
"Apparently ENGLISH is not a first language"... Nice grammar professor...
apparently not... I think I have just proved every point I needed to... i'm outta here because it is a waste of time... Funny... for such a successful trader, u sure spend a lot of time on the message boards.
BY the way... translate this from my native language: Sisaj mi kurac glupa kravo!
BYE!
Translate this loser... you came, challenged and got your ass kicked to the curb. If you feel like you were rejected, that is because your personality is the equivalent to the personality of a slug. Now go challenge another thread and get thrown off their thread too loser.

To answer your question De..no nothing, I am here to help others learn. Your here...why? besides whinning, challenging us and then getting your tail kicked and leaving like a child, your worth is absolutely zero.

Hint: Never challenge people smarter than you are..and never challenge people that are a lot more successful than you are with the forex.

Want to be successful, do what successful people do.
  • #295
  • Sep 3, 2006 9:51pm Sep 3, 2006 9:51pm
Thanks for the pm tick. But, I really don't understand how you can think that asking questions about the Bagovino method , on a thread entitled "the bagovino method" is tying it up.Especially when you look at your last post.
  • #296
  • Sep 3, 2006 9:54pm Sep 3, 2006 9:54pm
No not you, to anyone coming here just wanting to fight, if you wanna learn it and trade ideas great, it wasn't at you, the 85% figure is not a exact no. just generally, if you follow the way renasdad trades it, that's the approx amount of wins i get anyway. He has a journal that's really helpful, explains the steps he takes and has charts, it's in the journal section, let me know if you cant' find it.



Quoting TheGreatMilenko
stricko108,
I hope that message isn't aimed at me.I've already said, the system is looking good to me for AUD/USD. But, I genuinley want to know, EXACTLY where this figure of 85% comes from.
  • #297
  • Sep 3, 2006 9:54pm Sep 3, 2006 9:54pm
Please don't come to this thread and tell us that you have backtested this method and it does not work.

We don't need anymore forex wannabe's come here and talk negatively about this system. It works and is a phenominal system to trade. This is a new and improved system that derived from the Sidus Method and was moved over to this thread.

I have yet to find a competant person to come and challenge this system. We have had a few people that lacked the educational background of just short of a High School GED come here and told us how this system cannot work. When asked of their background, they refused to show proof of what their educational experience was nor their expetise in the forex. They did not have the common sense to realize that you cannot attack a system that works well for us. We take it personally and trust me, that is not a good thing.

Come and ask questions...but under no circumstances feel the slightest urge to tell us this system does not work. You will be immediately asked to leave. Distrupting the harmony of this thread can result in immediate dismissal from the Forex Factory. You will be asked to leave just once. If you fail to do so, I will ask every member of this thread to send a PM to the Forex Factory Administrator and have you kicked off.

Everyone from this point on that comes to this thread and decides to disrupt the flow of harmony on our thread will be directed to this specific link.

We waste valuable time and space by discussing useless theories by these people who have nothing better to do with their time than to come here and eventually be chased away.

Tick
  • #298
  • Sep 3, 2006 10:00pm Sep 3, 2006 10:00pm
Quoting stricko108
No not you, to anyone coming here just wanting to fight, if you wanna learn it and trade ideas great, it wasn't at you, the 85% figure is not a exact no. just generally, if you follow the way renasdad trades it, that's the approx wins. He has a journal that's really helpful, explains the steps he takes and has charts, it's in the journal section, let me know if you cant' find it.
Thanks for the reply stricko 108.As, hopefully, everyone knows, it is possible to have 85 winning trades out of 100, and still lose money, depending on your take profits, and stops. That is the perspective I'm coming from.I would REALLY like to know how the figure of 85% was arrived at.I'll try the journal, .Thank you.
  • #299
  • Sep 3, 2006 10:01pm Sep 3, 2006 10:01pm
Quoting TheGreatMilenko
Thanks for the pm tick. But, I really don't understand how you can think that asking questions about the Bagovino method , on a thread entitled "the bagovino method" is tying it up.Especially when you look at your last post.
I sent you a PM asking you not to tie up the thread asking the same question over and over and over again. If you asked it once and it is not answered, use common sense and take the advice from others and send a direct PM to that individual. If you have a rebuttle, send it to me by PM...not on here.

I hope that this clarifies what you need to do when your confused and have a question and are compelled to ask it over and over and over again within a 30 minute period.

Please let me know if you are still confused by sending me a PM only. I will be glad to assist you, again.
  • #300
  • Sep 3, 2006 10:10pm Sep 3, 2006 10:10pm
Quoting Tick
I sent you a PM asking you not to tie up the thread asking the same question over and over and over again. If you asked it once and it is not answered, use common sense and take the advice from others and send a direct PM to that individual. If you have a rebuttle, send it to me by PM...not on here.

I hope that this clarifies what you need to do when your confused and have a question and are compelled to ask it over and over and over again within a 30 minute period.

Please let me know if you are still confused by sending me a PM only. I will be glad to assist you, again.
I did take advice Tick.Read post 258.Congratulations on your new job by the way. It must be nice to be the boss of a thread.
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