10.2 for Dummies

[mobthehop]

Shelley, thanks for popping over & your quick reply.

So where to actually enter your trades - I guess I can speak also on behalf of Gary, we are clear on the slope -0.8 <or > 0.8 but do you enter on break of any weekly / monthly pivot? What constitutes a break ? EG 10 pips above resistance / below support? Or you simply enter anywhere at a given time eg UK open?

I got away with 480 pips manual just entering when the mess on UK open started but that's luck and not skill.....

Stupid nubi question - the NB10.2 EA only on one chart like for Shelly EA or on every pair one trades?

Cheers

[Tebis]

Shelley, thanks for popping over & your quick reply.

So where to actually enter your trades - I guess I can speak also on behalf of Gary, we are clear on the slope -0.8 <or > 0.8 but do you enter on break of any weekly / monthly pivot? What constitutes a break ? EG 10 pips above resistance / below support? Or you simply enter anywhere at a given time eg UK open?

I got away with 480 pips manual just entering when the mess on UK open started but that's luck and not skill.....

Stupid nubi question - the NB10.2 EA only on one chart like for Shelly EA or on every pair one trades?

Cheers

On each pair you want to trade

[mobthehop]

Cheers Tebis

[astral77]

IMHO Shelley is correct. SRF/CT should be done when slope indicator is between 0.4 and -0.4. At other times we should stick with trend trading. Or for the time being forget about CT and SRF trades and just concentrate on trend trading then gradually look into the other aspects. Basically when you decide on the direction of the pair then you choose one of the EAs (which are just basic MA Cross EAs) for the best entry or if you are impatient you can enter manually or place a pending order. I know for a fact that with 10.1 Bob was primarily using pending orders to place his trades.

I hope this helps. I am sure the man himself will pass through here sooner or later and he can explain it more clearly.

Kind regards

[forexripper]

Gary, if you don't mind I humbly like to state I never said that you make it too complicated! I would never dare..... I even said "but from what I recall, NB only enters either on break of or bounce at daily / weekly pivot lines combined with MA cross confirmation (there are different MA 5 shifts associated with his currency groups 1 - 5). I will however re-read the manual for the fifth time and the last 100 or so posts of NB.....". I did that but am still unclear. I think that till now only a few aspects of the system are incorporated in the 2 EAs.... I did re-read the whole lot but still not clear...

So, I am with you, I can not even get the EA's to work and any attempt to manually trade this, caused losses for me - apparently fxozgirl has the manual part done pat - maybe she can enlighten you / us.....

I have also noticed that some people here have successfully proposed to incorporate certain aspects that look like to have been taken from Al's Extreme TMA thread over at FF - but I might be wrong on that....

Cheers & onward to a better understanding of NB 10.2

Mop

PS: I have pm'd fxozgirl and asked whether she would share her insights with us

Hi Mop, thanks for the vote of confidence, but I have only been trading off the D1 trending trades manually (and so far that's been great)...I still really haven't got a handle on the range trading myself yet.

My limited understanding (correct me if I'm wrong) is that SRF's/CT trades are taken when the slope is less than 0.4/-0.4 thereby indicating that price is ranging. Once the slope indicator shows ranging on the D1 & 4H charts you drop to the 1H to look for SRF's.

I would suggest you contact Jemook & Verb who both do have an excellent handle on all aspects of the manual trading of 10.2 and from what I have seen Kelisa is also very good as well.

Good luck guys, I also want to learn this manual aspect as well...although my NB 10.2 EA is trading very nicely whether it's trend trades or range trades, so take a look there as well.

Cheers

Shelley

The 10.2 EA is also working fine for me except that I wonder why it has not taken a single range trade using Bollinger Bands. It has taken D1 trend, D1/H4 trend and WPC range trades though.

Also, a dump question here. Would the EA continue to work if I put the machine on sleep or hibernate?

Thanks

[nonlinear]

Been following Bob's stuff for years on FF, first time here. Has anyone tested long enough to know if the expectancy of the Daily 10.2 system, just taking trend trades alone, is sufficient for a stand alone system. It would seem that enough uncorrelated pairs will trend enough to make it worthwhile.

[nanningbob]

Been following Bob's stuff for years on FF, first time here. Has anyone tested long enough to know if the expectancy of the Daily 10.2 system, just taking trend trades alone, is sufficient for a stand alone system. It would seem that enough uncorrelated pairs will trend enough to make it worthwhile.

Trend trades are working very well because that is what the market is doing very well right now. Just enjoy the ride while it is going on because the summer time is usually range time. However, if Euro news keeps hitting then we may trend all summer. Only time will tell, I used to hate these long trends because I had no idea when they would start and when they would end. At least now I have some idea. So enjoy the trending part while it is going one. Time will only tell how long it will last.

[mrpipstrader]

............

Also, a dump question here. Would the EA continue to work if I put the machine on sleep or hibernate?

Thanks

Hi forexripper,

Any EAs you have running on your own computer will pause when you sleep/hibernate. This means that no new trades will open and your open trades will not be managed. The open trades in your account with your broker may hit TP/SL if they have been set, or will just move up and down until your EA wakes up when you restart your computer if TP/SL been hidden by the EA or not specified. In this instance, you may be hit by a margin call if the market has moved far enough against you while your computer is off.

People who want to shut their own systems down while using EAs often use a 24/7 VPS.

[garyfritz]

From http://www.stevehopwoodforex.com/phpBB3 ... 687#p14687:

Mop [posted] a diagram from FF that made it very simple: if Slope > 0.4 and the OWH is green and (PA above blue MA line or cross Main Pivot), then buy. Period. So where are all the SRFs and CTs in that? How does that fit with Verb's rules? How do you combine the SRF/CT/etc ideas with the TMA/OWH/etc indicators? How do I put this all together??

Anyone? Anyone?

Do we just say:
"slope > 0.4 so we want trending entries -- enter on any crossing of weekly pivot or monthly pivot (trend continuation), or 5ma-1 line (trend retracement)" ?
And "slope < 0.4 so we want CT entries -- enter when it crosses inside TMA True or Bollinger Band" ?
And that's it? Or maybe you also rely on confirmation from the WOH indis?

So e.g. we catch SRFs when the market doesn't quite reach a S/R line and falls back? We're not specifically looking for or triggering on SRF patterns, but the "trade back inside the bands" rule catches the SRF behavior?

It seems to me that Bob's booklets are a bit vague and under-specified, so it's hard to tell what to do, and Verb's codex rules are possibly a bit OVER-specified, setting more conditions than Bob intended. But people are trading both variants successfully so the system is obviously pretty robust. I guess it's just up to anyone to find the style that works for them.

[mobthehop]

Gary, I just got the new set of manuals, I will go through them by Monday and comment.....

Have a great weekend all