Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Cobra Expert Advisor Review |

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, a partner of the FxCash rebate service, likes to surprise its clients with non-standard solutions in the field of trading advisors. Cobra is one of those. Novice traders will not be able to cope with it, but for a trading guru, it will seem like an entertaining constructor. We highly recommend this trading advisor to those who like to understand the intricacies of trading algorithms and are ready to show excitement and patience with this profit builder.

Cobra advisor – flexible robot for professionals

This robot can be called non-standard already because it is based on only one indicator – the moving average (MA). The principle of operation is based on the fact that the price winds like a cobra around MA, affecting pending orders. Deferred limit prices are set at a distance from the MA. If the price goes up, it catches the pending sell limit, reverses and closes by take profit. If the price, instead of a reversal, continues to move further, then new limit orders are opened until a reversal occurs and closes at the total take profit.

Version 1.1 presented by AMarkets was created back in 2010. Today this robot has over 10 versions with modified code. The disadvantages of the Cobra advisor include the need for frequent re-optimization due to market volatility. With a yield of 27.7% over 6 months, this advisor has one of the largest maximum drawdowns – 86.46%.

The recommended timeframe is M30 or H1. The new version 1.5 focuses on minimizing risks – a trader can set take profit and stop loss levels by himself. This allows you to limit losses, since the Cobra advisor is designed to work with pullbacks, correction, and flat. Trading on the news with him is unprofitable.

Expert advisor settings Cobra:

  • Dinamic Lot – initial lot volume from which the calculation of the trading volume for each position begins;
  • Op Step – distance from MA to the first pending order;
  • Lim Step – step of pending orders;
  • Lim Setup – a parameter showing the maximum number of orders that can be placed on both sides of the MA;
  • Period – MA period;
  • Magic Number – assigning a number to deals opened by the program in order to distinguish their orders from orders of other programs or opened manually.

Minimalism prevails in the settings, so experimenters can try to add another moving indicator with a different period or an oscillator to the code. Or test other versions of the robot, for example 2.5 or Adrenaline. The latest version adds settings:

  • balance – limitation on the total stop loss in% to the deposit, a fixed amount of losses, limitation of the maximum drawdown on the main strong trend;
  • greed – general Take Profit level.

Summary… A sophisticated advisor for professionals who like to overcome difficulties and are prone to excitement. The robot requires attention, works for a short period of time, but in general it shows good results and is able to bring moderate profits in a calm flat market. We share our comments about the EA in the comments. If anyone has an already tested version of Cobra, share the secrets with our readers!

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