10.2 for Dummies

[blinkxzero]

So I've been manual trading the Nanningbob 10.2a system for about a week after reading as much about it as I could, and I have a quick question if anyone knows the answer.

How should I feel when the following setup occurs (see screenshot):

D > M > W

instead of our usual buy setup of:

D > W > M

I think the screenshot explains it better. Maybe I missed this somewhere? The TMA slope has a dark green bar meaning our trend is slowing down, but the it's at 1.53, which means strong bullish trend?

Sorry I guess that is two questions then

[robbie83]

So I've been manual trading the Nanningbob 10.2a system for about a week after reading as much about it as I could, and I have a quick question if anyone knows the answer.

How should I feel when the following setup occurs (see screenshot):

D > M > W

instead of our usual buy setup of:

D > W > M

I think the screenshot explains it better. Maybe I missed this somewhere? The TMA slope has a dark green bar meaning our trend is slowing down, but the it's at 1.53, which means strong bullish trend?

Sorry I guess that is two questions then

I think its still a valid uptrend because of the slope value is still at "buy." If the value drops to the .4 level, then you would sell. *I think* ... Im about to post my own question in a second, lol.

[robbie83]

I know I did something wrong. Its a demo so I am still learning. Its just funny how I entered short the previous candle and bam... the next candle goes the opposite. My luck.

Hopefully someone could explain my error.

I see that price action basically bounced off weekly support 1. I am thinking that I should have waited for the PA interaction with WS1 before making my entry. It looks everything else was lining up perfectly for a short except for me overlooking the importance of WS1.

[daveM]

If you entered on the second last bar on the right, there is no reason to have entered, particularly as that bar is not below the prior bar. I think you have to use price action for entries and not rely on indicators. It appears that you are entering well after the signal.

My impression is that price action is what we use for entries, indicators are for some confirmation, not to be the decision makers.

[robbie83]

If you entered on the second last bar on the right, there is no reason to have entered, particularly as that bar is not below the prior bar. I think you have to use price action for entries and not rely on indicators. It appears that you are entering well after the signal.

My impression is that price action is what we use for entries, indicators are for some confirmation, not to be the decision makers.

Thanks for the feedback. My goal was a longer term short. I saw that the PA was in decline, daily pivot crossed below monthly and slope indicators where in the sale range. The only thing is that I notice the daily chart slope are in a "buy only" mode. I am guessing that my mistake was a basic error... daily trend is the main trend therefore this decline is just a short term.

The PA is having some problems breaking the WP now, possible H&S hopefully.

Thanks for answering!

[daveM]

I wonder if some one else will comment as to what they feel the entry should have been, I could be a bit out to lunch and perhaps should not have replied.... My interpretation could be far wrong.

[blinkxzero]

So I've been manual trading the Nanningbob 10.2a system for about a week after reading as much about it as I could, and I have a quick question if anyone knows the answer.

How should I feel when the following setup occurs (see screenshot):

D > M > W

instead of our usual buy setup of:

D > W > M

I think the screenshot explains it better. Maybe I missed this somewhere? The TMA slope has a dark green bar meaning our trend is slowing down, but the it's at 1.53, which means strong bullish trend?

Sorry I guess that is two questions then

I think its still a valid uptrend because of the slope value is still at "buy." If the value drops to the .4 level, then you would sell. *I think* ... Im about to post my own question in a second, lol.

Thanks for the reply. When I get a chance to look I'm going to see how my question turned out on the charts after a few days. I'm still trying to nail down which indicators / signals have more importance than others. Obviously if all of them line up it's a good chance at a win, but getting them all to line up is another matter

[simplex]

Hi all,

Trying to dig into this Forex thing for several weeks now what I found in this forum (Steve's EA Barebone, Bob's 10.x) looks like the most elaborate tools to be available for free. Thanks to you all for your valuable work and sharing!

Now some questions: at the moment I start to work through Bob's 10.2 documents. He emphasizes that it is essential to read some of the 10.0 docs first to understand his way of thinking and the docs related to the underlying indicators as well.

I'd love to do so - but where can I find them? Any ideas?

Next thought: 10.4 is out now. Is digging through 10.2 still a good point to start for a newbie?

Cheers, Simplex

---

After starting to study 10.2 docs I at least found out that obviously the indicator docs are part of what I am reading ... so mark this part of my question as solved!

[mjws00]

I'd switch it up to 10.4. Bob's outdone himself on this one.

Welcome.

[cjthomson]

I have a question about the logic and general position management. See the pic below. Well I entered GBPCAD and all was going well for Position 1, Position 2 entered and also went well and I tightened the SL's for each according to the rules. Position 3 triggered but soon after that price turned against me. My point is this: I was over 300 pips to the good (from P1 & P2) at the time position 3 triggered and the net result was a BE trade across all three positions. I am super bummed that I didn't go wit the first 2 positions and leave it at that because it was P3 that undid all the gains I made from P1.

Can anyone offer any advice on how to safely preserve the majority of the pips already won. Would it be wise to close positions out at say a 2:1 reward level and let any further potential move in my favour go?

Any advice would be appreciate.