Next, you have to align these Dummy objects to the bones, the dummy's are going to act as bones to apply the IK chain with, confused yet? I hope not, but hopefully things will get easier. I recommend aligning them from the hand bone up to the upperarm. For the Hand dummy, LowerArm dummy, and UpperArm dummy, align them using the following photo (Align XYZ position, and XYZ orientation).
With Bone_Emo_LowerArm01_Dummy_R align it the same way, BUT only align the XYZ position, not the XYZ orientation. This will help make sure the IK chain bends like a triangle, instead of a rectangle, which is what you don't want.
This next part is the MOST confusing part about setting this up, refer to the following picture.
Basically, you have your dummy's lined up with your bones and you begin linking them so thing start to move how they are supposed to. I'm going to list the names of the bones and what to link them to, but in the image you just have letters as reference for the linking information. Make sure you start with the big black arrows on the bottom; which would be:
linked to Bone_Emo_LowerArm_Dummy_R
link that to Bone_Emo_UpperArm_Dummy_R.
Then link Bone_Emo_Hand_R to Bone_Emo_Hand_Dummy_R
Link Bone_Emo_LowerArm01_R to Bone_Emo_LowerArm01_Dummy_R
then link to Bone_Emo_LowerArm_R and
link that to Bone_Emo_LowerArm_Dummy_R
Link Bone_Emo_UpperArm_R to Bone_Emo_UpperArm_Dummy_R
then link that to Bone_Emo_Clavicle_R
Like I said, check the previous photo for a simpler version of this linkage system.
The next step, with the UpperArm dummy object selected, go to Animation -> IK Solver -> HI Solver. When you get the rubberband, click on the Hand dummy object to create the IK Chain.