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Bagovino Method

  • #381
  • Sep 5, 2006 9:53am Sep 5, 2006 9:53am
Quoting bagovino
Someone said they'd post a good volume indicator here... I'd like to incorporate it into the system and only take trades/signals when the volume is high.

Does anyone have such an indicator???

Thanks,

B.
I have a nice one but I'm at the office right now.. Will try and post it this evening..

Also I agree that you have to give a trade room to breath but that is one part of the traders discretion..

Shaimus
  • #382
  • Sep 5, 2006 9:57am Sep 5, 2006 9:57am
I have given a lot of thought to how much we could all benefit if we could put together a live call thread. Kind of like what goes on in the Low Risk, High Reward thread. I know there are many of us with this system on their desktop, running all the time, as it is on mine. Trouble is, I run a small business and have 4 kids to boot. (soccer, gymnastics, shuttle, not to mention, meals and the bedtime routine) Profiting from this most excelent system requires one to catch the move when it shows itself. Anyone interested in this effort can private message me to see if we can iron out the details.
  • #383
  • Sep 5, 2006 10:10am Sep 5, 2006 10:10am
Quoting bagovino
Tight stops are NOT the way to go. A trade needs to breathe. Any pro trader will tell you that! A 35/40 pip stop is the minimum you'd want. The only time you'd want to use less is if you got it around a very strong point of support/resistance. Institutions are famous for stop hunting. So they will take you out real quick if they want and then the trade will resume in the direction you wanted it to go. I personally dont put stops in unless I'm going to be away .
I think my post wasn't really read properly. Those trades that worked out and caught the actual transitions/moves never needed that big stops. I have picked out 4 examples but there are dozens on all of your charts. Those trades that went more than 20-30 pips against you before continuing usually fall into the above category of my last post of ranges holding it in.
It's a matter of taste and MM if you want to allow that big stops. See pics below regarding the necessity of stops on the good trades.

Now nobody forbids entering late or using huge stops. I am merely pointing out that the smallest amount of risk and least amount of money wasted comes from getting in as early as possible, staying in as long as possible and not losing more than necessary on stops. Individual tastes for risk may vary, I don't have that much money so I rather am careful than trying to outguess the market and hope after it moving 40 pips already it will move another 50 to make it 90. Trying to predict move continuation usually leads to loss or inconsistent trading.

Quoting bagovino
Just use good analysis and make sure your not getting in at the end of the move and it reverses on you!!
I think if anyone had an analysis that allowed them to accurately predict where a move will end and reverse then we'd be following that instead of the EMA crosses for signals?
I know a lot of systems and theories try (itme has a nice thread, elliot waves are interesting, as are fibs) but nothing ever, ever is 100%. The market will do what it does, you can't predict a continuation for sure.
I can only state my perspective on it.


Now for the examples I mentioned:

http://img397.imageshack.us/img397/2...ample01zp0.gif

http://img238.imageshack.us/img238/1...ample02gv9.gif

http://img111.imageshack.us/img111/8...ample03tr7.gif

http://img116.imageshack.us/img116/4...ample04eq5.gif
Trust price. Know yourself.
  • #384
  • Sep 5, 2006 10:31am Sep 5, 2006 10:31am
I like this idea, but as you are running during the day, I am as well. I am looking to get a PDA with Mobile MT4. I am looking for a good indicator that provides a signal with the 5/12 cross AND RSI 50. Signal to go out E-mail and SMS with Signal...
If someone as that kind of Indicator, it would be nice.

I do not want any EA.

Wayne


Quoting trademe4x
I have given a lot of thought to how much we could all benefit if we could put together a live call thread. Kind of like what goes on in the Low Risk, High Reward thread. I know there are many of us with this system on their desktop, running all the time, as it is on mine. Trouble is, I run a small business and have 4 kids to boot. (soccer, gymnastics, shuttle, not to mention, meals and the bedtime routine) Profiting from this most excelent system requires one to catch the move when it shows itself. Anyone interested in this effort can private message me to see if we can iron out the details.
  • #385
  • Sep 5, 2006 11:33am Sep 5, 2006 11:33am
anyone else long the yen?. i got a cross a couple of hours ago with other indicators looking good too.
Trade what you see not what you think
  • #386
  • Sep 5, 2006 11:40am Sep 5, 2006 11:40am
Quoting pingpong
anyone else long the yen?. i got a cross a couple of hours ago with other indicators looking good too.
Good cross, but not a valid RSI over 50 on my screen.

Was wanting this to play also!!
  • #387
  • Sep 5, 2006 11:45am Sep 5, 2006 11:45am
Quoting donkeyfx
Good cross, but not a valid RSI over 50 on my screen.

Was wanting this to play also!!
Was referring to usd/jpy.


Aud/jpy looks like a valid signal...if thats what you meant.
  • #388
  • Sep 5, 2006 11:48am Sep 5, 2006 11:48am
Quoting donkeyfx
Good cross, but not a valid RSI over 50 on my screen.

Was wanting this to play also!!
really? i got a perfect cross. it has dipped back down but still just above 50. sitting with a slight loss as i got in at top of hourly green candle.
a bit of divergence on MACD was a deciding factor for me to take the trade.
Trade what you see not what you think
  • #389
  • Sep 5, 2006 11:50am Sep 5, 2006 11:50am
Quoting donkeyfx
Was referring to usd/jpy.


Aud/jpy looks like a valid signal...if thats what you meant.
i meant the usd/jpy but you are right the aud/jpy looks ok too. a bit low on volume today though over all charts. hopefully tomorrow will bring more activity.
Trade what you see not what you think
  • #390
  • Sep 5, 2006 11:51am Sep 5, 2006 11:51am
I didn't get and RSI cross either....

Shaimus
  • #391
  • Sep 5, 2006 11:52am Sep 5, 2006 11:52am
Last two signals for long Yen were short e/j at 150.20 and short usd/jpy at 117.20. I could be mildly off on nippy since things were quite tight when it started to fall. Again, a breakout would have caught that, too.
Those were the last trades on and have both moved over 100 pips so far, have not seen any new reason/signals yet.

Personally I didn't trade them (wasn't at the pc when it happened).

Note that both originated between the 55 vegas fib and the tunnel and passed right through it and did not bounce when they touched the tunnel.
Shows that the move was decisive and there was a sense of direction to it, had it been undecided it would have paused or bounced from the tunnel imho.
As it is price just fell through.
(I'd also like to add that both trades didn't exceed a 20 pip stop past the origin)
Trust price. Know yourself.
  • #392
  • Sep 5, 2006 11:54am Sep 5, 2006 11:54am
Quoting pingpong
i meant the usd/jpy but you are right the aud/jpy looks ok too. a bit low on volume today though over all charts. hopefully tomorrow will bring more activity.
Anyone else get the RSI signal for this? I myself did not. The cross was nice but the RSI never actually hit the 50 nor crossed on mysetup. I have the 50 line and it is set to 21.??
  • #393
  • Sep 5, 2006 11:57am Sep 5, 2006 11:57am
I didn't see the RSI cross either.

The 15 and 30 minute charts are looking bearish again. Also, on the 1 hour chart the 18 and 28 are pretty far apart.

Edit - Here is my chart Pingpong
Attached Image
  • #394
  • Sep 5, 2006 12:05pm Sep 5, 2006 12:05pm
Quoting pingpong
anyone else long the yen?. i got a cross a couple of hours ago with other indicators looking good too.
Is your RSI set to (21)? I set mine back to (14) and I see that it would have crossed. But with the setting on (21) there is no cross.
  • #395
  • Sep 5, 2006 12:19pm Sep 5, 2006 12:19pm
There was no cross of the 50 line on RSI and so there was no signal.
Also 116.15 has proven to be resistance before and was the start of the drop to 115.75 last time which on a second leg down went to 115.56.
We could see a bag signal in 45 minutes if the EMAs cross downwards again as RSI is still well under 50. I'd be cautious though, the place to have gotten into a new short would have been over 116, as it is we will probably be quite a bit under it if the signal does occur and the "railroad tracks" will be rather far apart.
Also I have fibs at around 115.70 and on 115.50 as well as it being a natural pivot.
If those get penetrated 114.95-115.05 would be a good spot to TP or close. 114.60 beyond that. Would be MASSIVE move for a single nippy run though, no? 250-300 pips within 60-70 hours without moving back much...but who knows


Btw, regarding getting in late, I still wouldn't recommend it, BUT if you want you could possibly add to your position instead on touch of the 6 or 12 EMA for example during a trending move. I had already suggested this 20+ pages ago. It would have also worked for the 18 EMA this time.

You can see that after the touch of the 12 EMA at around 116.10 it moved on down to the final 115.56 so it was good for another 50 pips.
Also note EMA 5 did not cross the 12 EMA when and after it happened and RSI remained under 50, so that would be a good sign that things could move on still as everything had remained bearish. If that had changed, I would have advised caution.

Just an idea
Trust price. Know yourself.
  • #396
  • Sep 5, 2006 12:43pm Sep 5, 2006 12:43pm
i think this would be a great idea. i am just at home with my charts and it would be good to have some live input. the more eyes scanning the charts looking for opportunities the more it will benefit everyone who is participating. i thought we could all be in an msn group or perhaps there is a better live forum we could use.
Trade what you see not what you think
  • #397
  • Sep 5, 2006 1:00pm Sep 5, 2006 1:00pm
If you want proper live action a chatroom is probably best.
There's a Chat program that's free, small, without adware yadda yadda and I've been using it for months now without a problem. (not paltalk crap, don't ever touch that...)
You can just download, install, go online and make a room for yourself and have people hang out there. No fancy graphics, banners or crap to clog your system. Love it as a geeks solution to simple and fast chatting. Also supports showing charts inside a split window in the chat prog itself.

I can't write the url here obviously and I hope this doesn't count as advertising, as it's a free forex oriented chat and nobody is gonna get or take money if you use it for free. I can PM the url if you so want. Someone would have to register the room and volunteer to "run it".
Trust price. Know yourself.
  • #398
  • Sep 5, 2006 1:12pm Sep 5, 2006 1:12pm
Quoting SeekingLight
If you want proper live action a chatroom is probably best.
There's a Chat program that's free, small, without adware yadda yadda and I've been using it for months now without a problem. (not paltalk crap, don't ever touch that...)
You can just download, install, go online and make a room for yourself and have people hang out there. No fancy graphics, banners or crap to clog your system. Love it as a geeks solution to simple and fast chatting. Also supports showing charts inside a split window in the chat prog itself.

I can't write the url here obviously and I hope this doesn't count as advertising, as it's a free forex oriented chat and nobody is gonna get or take money if you use it for free. I can PM the url if you so want. Someone would have to register the room and volunteer to "run it".
sounds perfect. can you pm the link then?
Trade what you see not what you think
  • #399
  • Sep 5, 2006 1:25pm Sep 5, 2006 1:25pm
Quoting SeekingLight
If you want proper live action a chatroom is probably best.
There's a Chat program that's free, small, without adware yadda yadda and I've been using it for months now without a problem. (not paltalk crap, don't ever touch that...)
You can just download, install, go online and make a room for yourself and have people hang out there. No fancy graphics, banners or crap to clog your system. Love it as a geeks solution to simple and fast chatting. Also supports showing charts inside a split window in the chat prog itself.

I can't write the url here obviously and I hope this doesn't count as advertising, as it's a free forex oriented chat and nobody is gonna get or take money if you use it for free. I can PM the url if you so want. Someone would have to register the room and volunteer to "run it".
Hi could you send pm link?
thx bj
BJ
  • #400
  • Sep 5, 2006 1:40pm Sep 5, 2006 1:40pm
thanks a lot!! I have learnt more in this 3 days than the last month i read all the technical analysis and fundamental trading techniques ebooks around the net.
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