10.2 for Dummies

[daveM]

PIP GLOBAL CLOSURE

I would like to use this feature, I have a question about it.

Does it reset itself or do I have to manually do that.....

ie.... say today it reaches my total required..... how do I get it to resume trading.?

I don't think the manual covers this topic


Thanks for your help

[MiniMee]

Anyone? or is the question just to Dumb even for the Dummies thread

Hi, I have read through Bob’s material and forum posts on the system and there is one area that I am still not 100% sure of, that being:

Breaks and Bounces

Do you put a pending order X amount of pips from a relevant S/R level etc? if so do you have a set amount of pips i.e. on a typical 4hr chart would a break of 40 pips constitute a valid break in the eyes of the system, same goes for a bounce but of course retracement.

Sorry if this question has already been answered a number of times and I have missed it.

Thanks in advance

[forexripper]

Anyone? or is the question just to Dumb even for the Dummies thread

Hi, I have read through Bob’s material and forum posts on the system and there is one area that I am still not 100% sure of, that being:

Breaks and Bounces

Do you put a pending order X amount of pips from a relevant S/R level etc? if so do you have a set amount of pips i.e. on a typical 4hr chart would a break of 40 pips constitute a valid break in the eyes of the system, same goes for a bounce but of course retracement.

Sorry if this question has already been answered a number of times and I have missed it.

Thanks in advance

Given how volatile some pairs could be I am not a big fan of pending orders above/ below some line. I prefer break of the line (whole candle or >50% body of it above the line) and then buy aggressively on open of next candle or place limit buy order few pips above the line just broken (true for sells also). I prefer this action on H1 or H4 not minute charts

[spotdespot]

Anyone? or is the question just to Dumb even for the Dummies thread

Hi, I have read through Bob’s material and forum posts on the system and there is one area that I am still not 100% sure of, that being:

Breaks and Bounces

Do you put a pending order X amount of pips from a relevant S/R level etc? if so do you have a set amount of pips i.e. on a typical 4hr chart would a break of 40 pips constitute a valid break in the eyes of the system, same goes for a bounce but of course retracement.

Sorry if this question has already been answered a number of times and I have missed it.

Thanks in advance

Given how volatile some pairs could be I am not a big fan of pending orders above/ below some line. I prefer break of the line (whole candle or >50% body of it above the line) and then buy aggressively on open of next candle or place limit buy order few pips above the line just broken (true for sells also). I prefer this action on H1 or H4 not minute charts

forexripper - you do the same as me by the sound of it. Check out the "Waiting to Buy/Sell" EA's on the manual tools thread - they will help you significantly as they allow you to set a pending order based on a candle close beyond a price you set. You can choose the candle close timeframe (I most often use 60 mins).

[SteveHopwood]

forexripper - you do the same as me by the sound of it. Check out the "Waiting to Buy/Sell" EA's on the manual tools thread - they will help you significantly as they allow you to set a pending order based on a candle close beyond a price you set. You can choose the candle close timeframe (I most often use 60 mins).

Courtesy of sd, there are some nice enhancements of the Waiting EA's coming soon. sd has been in touch with me by pm with said enhancements.

[MiniMee]

Given how volatile some pairs could be I am not a big fan of pending orders above/ below some line. I prefer break of the line (whole candle or >50% body of it above the line) and then buy aggressively on open of next candle or place limit buy order few pips above the line just broken (true for sells also). I prefer this action on H1 or H4 not minute charts

Thanks for the reply. Your style of trading the break makes perfect sense

How do you trade the bounces though? I noted NB on FF saying that he likes to see it bounce back and hit a MA, though with 10.2A 3 Pivots the MA's are no longer there so any input on how you trade the bounce is very welcomed

Thanks again

[xrismak]

Hello everyone including should I say Vibrant Kelisa, I am really not entirely new to trading but this NB 10.2 system knocks the socks off me so I'll call myself a Dummie until I am as Good as Vibrant Kelisa and that other Gentleman friend of mine who seems to have a laugh at everything I have said to him in the past his Name's Jemook and I must also thank Steve for letting me know about this Goodie the Monster "mint plenty coins if you know what you are doing " NB 10.2 System.
Having Introduced myself as best as I can Comically Introduce myself without so much as Stepping on some powerful toes Nanningbob's included, I will implore everyone to kindly be patient with me if I ask the Stupidest of Questions relating to this NB 10.2 System.
All I would want is Answers that will help me be as good a Retail Forex Trader as you all in here.
Kelisa, I shall be back with a few questions for you that is if I don't understand anything about anything which usually is the case with me most times.

Cherio everyone I am off to sleep for the time being.

[Jemook]

Given how volatile some pairs could be I am not a big fan of pending orders above/ below some line. I prefer break of the line (whole candle or >50% body of it above the line) and then buy aggressively on open of next candle or place limit buy order few pips above the line just broken (true for sells also). I prefer this action on H1 or H4 not minute charts

Thanks for the reply. Your style of trading the break makes perfect sense

How do you trade the bounces though? I noted NB on FF saying that he likes to see it bounce back and hit a MA, though with 10.2A 3 Pivots the MA's are no longer there so any input on how you trade the bounce is very welcomed

Thanks again

Hey MM - just add the 5.1 MA back into the 10.2a template. It still works just as good and yes you can use it to enter off a bounce IMO.

[nanningbob]

Hi, I have read through Bob’s material and forum posts on the system and there is one area that I am still not 100% sure of, that being:

Breaks and Bounces

Do you put a pending order X amount of pips from a relevant S/R level etc? if so do you have a set amount of pips i.e. on a typical 4hr chart would a break of 40 pips constitute a valid break in the eyes of the system, same goes for a bounce but of course retracement.

Sorry if this question has already been answered a number of times and I have missed it.

Thanks in advance

I look for the double 00 trades. or example if price is 79.298 and the S/R/PIVOT line is at 79.144, I will set my pending at the break of 79.000 and use 78.980 or something in that neighborhood. So I look for the break of whole numbers first. My second look will be a previous low or high and place below/above that mark. The third I look for a previous congestion area. If neither of those come into play, then any nice number will do for me below/above those lines

[nanningbob]

NNBob,

Can you please place your trades taken by this method this month so we can all learn how you have been trading it. I guess with so many sub-topic threads here it is getting confusing. People are jumping with new ideas without first testing the original completely and understanding it. Hence, retracement loss issues. I personally would like to learn directly from the developer if the system.

Also, if possible please create myfxbook account and share your trades so we learn.

Are you trading both D1 and H4 same slope colour or range type things too.

There have been times i have done this but right now I just need to take a break. My life was so full of uncertainty and difficulty in the business world of my business that I just stopped for a while. Just to give you a hint, I run a school and due to several things happening I lost over half of my customers. The good news is I have regained back about 40% in new customers so things are getting better for me. I will go on a well deserved vacation next week and not even post or trade for a week or two. When I get back I will probably gear up and trade again. I know all these alterntives can be confusing to you but traders are just taking how they like to trade and adjust my system into it. Just ignore all of it unless someone here has been trading like you and you understand the system and adjustments. Otherwise my screen uses the blue and red screens just as they are posted on pg1 post 1. I have played with using a daily pivot instead of the 3 MA lines but that is just a test right now. So any trades I am taking follows the system as posted. Just look for taking trades that go from one line to the next. In other words like I said in my booklets, almost every currency, almost every week will travel from one line to another line S/R/Pivot. Find that trade and you have a winner. My main trades are looking for a bounce off of a pivot line or a break of a pivot line. Learn those first and you can be successful. KISS