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Forex Cobra System


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Re: Forex Cobra System

 

Nice Asteris, thank you very much.

I attached it to charts to give a try.

 

Could you write a code that just give a sound when signals are met ?

The EA you wrote has fixed lots, SL and TP but in cobra you must calculate those values at that moment, is never equal.

 

cheers

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Re: Forex Cobra System

 

This EA uses internally "take profit" and "stoploss" according to the rules of Cobra.

If you use very big numbers for takeprofit and stoplosss then this thing happens automatically and the external values are not used at all. i.e. SL=10000 TP=10000...

SL and TP values of the EA are used in case you want to use your own numbers.

The manual system looks promising in some selected cases but finally is not in totally by using its rules...

It needs more job to be done.

Please say your opinion again after you check.

Friday rule is used...

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Re: Forex Cobra System

 

 

Bronze Member

 

 

 

Joined: 01 Apr 2009, 19:22

Posts: 79

103

Kudos

 

 Re: Forex Cobra System

This EA uses internally "take profit" and "stoploss" according to the rules of Cobra.

If you use very big numbers for takeprofit and stoplosss then this thing happens automatically and the external values are not used at all. i.e. SL=10000 TP=10000...

SL and TP values of the EA are used in case you want to use your own numbers.

The manual system looks promising in some selected cases but finally is not in totally by using its rules...

It needs more job to be done.

Please say your opinion again after you check.

Friday rule is used...

 

 

Aaaah, ok, i didn't know SL and TP work like this, its ok.

The lot value is very important, here it should be Risk / SL = LOT SIZE.

 

In EA by default is 0.1. I asume it's same case as above and set a maximum of 1.0 for EA autocalculate risk.

It's that right ?

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Re: Forex Cobra System

 

This EA uses internally "take profit" and "stoploss" according to the rules of Cobra.

If you use very big numbers for takeprofit and stoplosss then this thing happens automatically and the external values are not used at all. i.e. SL=10000 TP=10000...

SL and TP values of the EA are used in case you want to use your own numbers.

The manual system looks promising in some selected cases but finally is not in totally by using its rules...

It needs more job to be done.

Please say your opinion again after you check.

Friday rule is used...

do we need to install any INDICATORS or are already in MT4 many thanks in advance :shand:

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Re: Forex Cobra System

 

Sandee, Pablo

 

You do not need to install any indicators.

 

A manual system looks sometimes very promising at specific kind of trades...

An EA is necessary to check roughly its profitability, by using exactly the manual systems rules.

This is what I did as many people here and myself of course had interest to check it.

 

I think the mainframe of the system is not bad but it needs a lot of job and changes to make it profitable.

The Risk/SL change is not difficult to be done but the strategy needs more corrections.

Also, what you ask is not included in the strategy, even it is logical to be added.

 

Sometimes, against to correct a strategy it is much faster to create a new one... :-?

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Re: Forex Cobra System

 

I attach you an EA I wrote and test yesterday night...

By coincidence, it uses ALL the rules of FOREX COBRA system.

Personally I believe it can be better but the rules of FC system as they are do not win..

 

You can give me few Kudos against saying Thanks... ^:)^

 

http://[email protected]/file/232530217/709505b3/EMAplus.html

Thank you, Kudos for you ;)

 

What the TF and how configure the internal parameter please ?

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Re: Forex Cobra System

 

Everything is like in manual of Cobra system.

Stop loss and TP ara internally defined by ea.

You can use your own ones if they are smaller than EAs internal ones.

It is up to you to decide...

 

ps/ D1 is not so bad but Cobra uses H1.

in manual it say adjust S/L by 10pips at a time as profit goes up but EA does not seam to do this as EURJPY +83 pips & closed in loss

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Re: Forex Cobra System

 

Inside manual there is a color page with boxes.

In that page all rules are presented.

EAs rules follow that page...

 

Here is Ver.2 with 2 trailing stops, one for Long and one for short

 

Also, one more EMA (StopEMA) has been added to be used for stoploss

 

http://www.4shared.com/file/232750489/80eabbe4/EMAplus2.html

 

FastEMA 12 is used for trigger, SlowEMA 72 is used for trend and StopEMA 12 for stoploss

For Cobra FastEMA=StopEMA...

I also add ADR parameters.

 

Do not ask me best parameters. I do not know yet...

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Re: Forex Cobra System

 

Asteris,

 

The EA is working good, but it's veeeery importan for this system to have money managment, this is one of the most important about trading.

At this moment EA enters to trade with a wrong lot.

 

Calculations needed are:

 

% risk capital divided by SL pips = correct lots

 

with this add your EA will be perfect!

 

Best regards!

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Re: Forex Cobra System

 

Asteris,

 

Sorry, i missunderstood something.

 

Did you write 2 versions ?

I have only one you posted here.

 

Im testing the only one i have from you and it has fixed lots.

 

What Elma posted is not what Cobra system says. It has the problem I say.

Lots MUST NOT be fixed, beacuse if you lots at 1.0, your SL 200 pips, and you have a lost trade, your account will be damage seriously.

 

I have just finish to backtest by hand from first day February to right now on 4 pairs, and gave a 43% profit.

 

Please, read the MONEY MANAGMENT section at PDF.

 

Cheers.-

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Re: Forex Cobra System

 

Dear Pablo

 

Here is second version.

 

http://[email protected]/file/232750489/80eabbe4/EMAplus2.html

 

Relative to money management I agreed with you but the EA is not in a "shape" appropriate to proceed to that.

 

It is no secret that Money management increases the wins but MM does not increase the number of wins.

Your algorithm is not clear to me.

It sounds good to divide Risk/SL to receive number of used lots but

with your recommendation in a loss trade, the loss of money is the same.

Please think about it.

 

Stop Loss and Take profit parameters in my EA, if it is big, the internal values of EA are used.

I added trailing stop in second version and one more EMA as a Curve to define position of internal Stop Losses.

 

IF you want further talk PM me to exchange ideas.

 

The idea of ELMA is not bad and can increase the wins, possibly i will try it.

In this case we do not have Cobra system anymore.

This system is not fine as it is in my opinion.

 

If somebody would like to help me in testing he can PM me. Of course with mql ability can be better :)

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Re: Forex Cobra System

 

Asteris,

 

(Can you upload the file again please? link is dead.)

 

Ok, but see this:

 

Entering a trade in an 10k account, for example, With 1 lot and 80 pips SL, you are risking 8% of you account when should be not more to 3% per trade. ( or have an option to chose risk at least )

 

Loss money must be the same just because is 3 or 2.5 % risk of your capital. It has a justified reason.

This is important, because in an very bad scenario, losing 3 trades in a row, your account could be damage hard, or at least much more than standar law of trading says. Imagine 3 loss trades just like 50, 75 and 100, pips.

 

But, if your system contemplate in second version one more EMA Curve to define position of internal Stop Losses, it colud work different and better, but i need to test it.

 

Best Regards.

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Re: Forex Cobra System

 

Asteris,

I wake up at morning and when i check my demo account I see 5 trades with huges losses. When i check them at charts, I saw "bad" entries made by the EA in this pairs:

EURGBP

GBPUSD

GBPJYP

EURJPY

But, there is a winning trade with "correct" entry with USDCAD.

 

http://www.pablovallini.com/images/Cobraforum/x1.jpg

http://www.pablovallini.com/images/Cobraforum/x2.jpg

 

This is very strange . Am i doing something wrong?

Cheers.-

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