Bagovino Method

excellent!
Thx bj

http://www.freejavachat.com/chat.php?chan=bagovino

No signup req'd. Just go to the site.

To change your nickname type:

/nick whatever

See u there!

I just hit my first profit target in my CAD short. My stop loss is now 1.1189 and 2nd profit target is 1.1164. 15 pips locked in-not bad. I am also long EUR/JPY and long USD/JPY. This method lends itself well to confirming Raghee method and vice versa.

Matt

Are you looking for both the 5/12 cross and RSI cross on the exact same bar?

Thanks
Mrlogik

Do you guys shy away from trades where 5'12,RSI cross but the candle is very long? Like right now,the EUR/CHF did the cross but the cross occured during a 70 pip candle. Wouldn't you risk having most of the move made already? I wouldn't make this trade anyway because price is at a several month high but would like your opinion on candle length. thanks

Bago,
Joined your chat room. Typed message into blue area but how do you read responses?

I think long candles usually come around economics news and from my perspective are hard to predict. Is that correct? They can quickly go in the opposite direction in the next candle or bar. I'm watching the USDCHF and CHFJPY right now with the same conditions.

Mrlogik,
I dont need the RSI cross to be on the exact same candle. As long as it is within one to three candles I am satisfied. This is because I use more than one indicator for comfirmation. If I am confirmed with MACD and Fib and trend line penetration and 5/12 cross, yet the RSI cross is a candle or two earlier or later it is still a good trade for me. I use Bagovino as a confirmation only, not as my main means of trade execution-and it works well I might add.

Last night, I hit both my profit targets with US/CAD short for 40 pips and both my profit targets with EUR/JPY for 38 pips. I also entered a third trade of US/JPY long which is still floundering since last night between my stop and first profite target. Hopefully it will pick up later, if it should turn against me, I will still have made a profit with my other two trades.

FX AccuCharts has two concepts for multi monitor support:

1) You can always "Detach" a window (Detach in the Window menu, or Ctrl+D) which makes it free floating, you can drag it then wherever you like on a multi monitor system.

2) You can create multiple FX AccuCharts main windows, which work the same way like your original one, so document windows reside inside. Do that by selecting "New FX AccuCharts" from the File menu.

Whatever you do, 1) or 2) or a combination of both will be saved and restored in a workspace.

Hi Matt,

What is this Raghee Method your talking about?

Bag

Raghee Horner is a well known trader among traders. She has two very good books out about trading-the best ones I have read that actually include a methodology to trading and not just a bunch of definitions or advertisement for some expensive software. I saw her name mentioned elsewhere on this forum, forgot exactly where though. I am not affiliated with her in any way, but I would recommend her books to anyone interested.

BTW, I just went long to contracts of USD/JPY per Raghee/Bago method a few minutes ago. I didn't place a stop because I expect volitility with a jpy economic report due out any minute. After reports come out, I wait 1 minute before placing stops.

2 contracts JPY long (60 min chart) @ 111.67, 1st profits @117.90, 2nd @117.99-stop will eventually be placed @117.67.

So what is the basis of the Raghee? Just wondering as you said it enhances my system. Would you be so kind as to contribute some aspects of that system that may help improve mine?


Thanks,

Bago

Well, it is difficult to explain, because it is not a system as much as it is a 'guideline' as to what to look for before initiating a trade. There are no hard and fast indicators such as "when 5/12 ema cross and RSI crosses=buy or sell.

In a nutshell it is trading the 6 majors in 5 different time frames each. You draw trendlines and look for breaks of these trendlines with a confirmation from MACD histogram. You then set stops and profit targets with Fib retracement lines. This is the basic methodology for momentum trading. For swing trading it involves trading with the trend on pull backs back to the wave. The wave is 3 EMA lines set to 34 exponential (high, low and close).

It also takes into consideration "psychological" resistance and support numbers, and at times pivot points (which I personally don't use).
So you see, it is really a very subjective set of rules to follow. Everybody will draw trendlines slightly differently;draw fib lines differently; and there is discretion when deciding at what point to trade when swing trading and the CCI indicator is used at times also. I wish it was easier to explain. If there was one thing I would recommend trying in your trading, it would be to utilize the wave. It is great for visually assessing market direction.

please make a new thread on this method..thanks

Just wandering whih time frame works best 5,15,30 60 chart? i am tring the system juat want to see the 85% on the right chart
thanks

Just an update-my 2 jpy contracts stopped out. Hopefully better luck next time.

Bago,

Thanks for sharing your method of trading, this week was a nice one for me I bookek 227 pips off of this system, coupled with another method that im using I nailed 390 pips this week! Im using the vegas fibs with the cross and rsi, european sessio and early US seem to be the best for the 30+ pip moves. To everybody on this thread, KEEP POSTING, your charts and experiences help us all. Thank you again and have a great weekend!

The early US open is also my favorite time, it is because it overlaps the London market that it has so much liquidity. I also enjoy trding the London/Asia overlap in the evening (PST).

While I was stopped out in my 2 JPY contracts (as posted above), I then went long 2 JPY contracts and made 40 pips before the trading day closed. Bago is becoming my favorite confirmation tool-for momentum and swing trading.

does anyone have a Bagivino AE for MT4 i want to let it run and see it work or can anyone create one? please let me know (im a poor Forex trader that still does the 9 to 5) so I looking for a system to help make money thanks

Colnc,

What other system are you using with my method? It seems to gain more pips than mine alone. Would you be so kind as to post it so we can better what we have going now??

I'd appreciate your help!!!

Bagovino