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Attachments: Simple Forex CobraSystem Thoughts Please?
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Simple Forex CobraSystem Thoughts Please?

Quoting fxtr51
I agree about the S/R areas. But I need precise rules which then can be coded into the EA... Is there an EA which is profitable ?
( I downloaded the Symphony EA from Steve and backtested it, but it only is draining the account similar to the Cobra-EA)
Maybe I missed a really profitable strategy which has been coded into an EA. If someone would point me to such an EA, I would be gratefull.
Sorry mate, I wish I could be more help to you on the coding front, but in that department I am a total illiterate. I can give you entry rules but these would be guess work at present point in time and I do not want to waste your time. Maybe in a few weeks time I would be able to do so once I have done some forward testing. Mind you we are all working people and have limited time. I tried using the dashboard but it is of little use. If there was a dashboard with email alters when the triggers were in place then we could enter far more trades and build a good history of demo trades and see which indicators work the best.

As for your comment regarding an EA which works. I am using this one in one of my live accounts for the past three and half months with a profit of over 12% thus far (http://www.stevehopwoodforex.com/php...t=404&start=10) my results are posted there, the settings are default but with EUR pairs disabled. IMHO there are a lot of EAs which work but we are NOT using the right settings, markets change but we do not change the EAs to reflect the change in market conditions.

For the record I do not expect you to do all the work. If this system is proven to have legss I will ask my good friend Steve to code an EA for us, but I can not go to him empty handed, I have to show forward and back tests to show the merits of the system. We have already brought this system to his attention and he is aware of it.

Kind regards
P.S. The reason I asked you to contact Steve was because you coders speak your own language which I do not understand. Moreover, this is your creation and not mine. However, if you wish I can ask him as a favour to have a look and see if he can help us.
Quoting astral77
I tried using the dashboard but it is of little use. If there was a dashboard with email alters when the triggers were in place then we could enter far more trades and build a good history of demo trades and see which indicators work the best.
astral77, thanks for your comments.

About the dashboard: it has the option to select Popup-Alert and/or
e-mail Alert when an arrow appears on the pair and timeframe.

If someone would like to forward test the EA, he can attach it to all the pairs he wishes to test and it will trade the setups according to the rules - no screentime is needed.

Right now the EA will not open multiple trades when another setup happens while the initial order is active.

About Steve: I sometimes use code-snippets he created and I agree that more profit-potential should be found before he might step in.
On the other hand he has some nice filters for trend detection which could help but I had not enough time to study these.
He would implement these very fast for sure ....
Whatever, help is coming and that feels good.
  • Post #103
  • Quote
  • Edited Mar 19, 2012 6:41am Mar 18, 2012 10:21pm | Edited Mar 19, 2012 6:41am
Quoting fxtr51
Komugi,
please test it on a Demo account, not a live account.
(just a recommendation, you will do whatever you want anyways .)

The EA to close manually opened trades is no problem.
As soon as I find time, I will code it.
Edit: Done, it is attached.
For MagicNumber=0 (default) it will close your manually entered trades
on the pair you attach it.
Or you insert a MagicNumber and it will only close trades with that MagicNumber on the pair. ( there are tools which enable you to place trades with a MagicNumber )

The Cobra-EA on H1 shows in backtests...
Thanks mate for the EA, I'll use this on my live account (Don't Worry Money Management is My King - no more 0.1% risk per trade just for practicing )

My Higher Timeframe Filter:

(1).After Signal Appears On H1. Check The Previous and the current bar on D1 if (If it's still touching The 72SMA Buffer Zone) = No Trade On H1 = No Trade Condition and Ignore all signals that appear on H1
(2).if the Price On D1 between EMA 12 close and SMA 72 CLOSE = No trade on H1
(3).the Close price on the previous Bar on D1 must completely outside buffer blue zone 12 EMA
(4).If Buy Signal appears on H1, check On D1 that EMA 12 Close must above SMA 72 close

1 last request could you please add a time-frame check to this EA's variable?

Example if we check/Attach or can be set to current-time to the EA on M15, so It only reads and Close all Open Trades based on the 12EMA rules on the TF M15. I need to try this on all timeframe

(My addition Rules after this EA has been made: All Open Trades On Higher Timeframe must be closed before opening a trade on Lower Time Frame, but you may attach this EA on Higher Timeframe once you still have open trades On Lower Timeframe this will protect us from the unwanted results just because your Open Trades based on H1 closed by EA with the based close signal on lower timeframe)

EA Rules:
Do Not Attach This EA on lower Timeframe If you still have open trades based on higher timeframe
But You May Attach This EA on higher timeFrame although there are still many floating open trades based on lower timeframe

once again thanks in advance!
If you have to make a mistake, make sure it is a new one
Quoting LazyPawn
All we need is a system that gets a big chunk of the trending move but doesn't lose too much in a range. There will be losses no matter what you do....
LazyP,
Exactly, we are looking to catch the middle of a move. However for me the current system is inadequate, as evidenced by fxtr's backtesting. Except maybe on some pairs steady trending runs, it misses the big move and seems to get in at the tail end. This can be seen clearly in the current zoomed in EURUSD chart. What we are aiming for are trend line breaks. In the absence of trend line programming capability, the 5 & 13 LWMAs are next best and seem to closely approximate the trend line.

Quoting fxtr51
For the whipsaws we could create a locking - unlocking method.
What is that ?

Lock = no SL but at the SL where SL would sit, we place a pending order
in opposite direction of the active order with same lot-size ......
Just an idea.
fxtr51.
Like the idea of stop loss lock, but a bit wary about being caught in a martingale style trap. Will keep looking, to test IF maybe the ADX could be used to nullify some of the LWMA cross signals, till a TP is achieved.
EP
Attached Image (click to enlarge)
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EaglePip,
yes, the trendline breaks are the best entries.

The Cobra is a dead road which has brought us to the good old trendline
break.

I recommend Tipster Trendline, a great tool for trading trendlines.
http://www.forexfactory.com/showthread.php?t=250637

Only a few hundred questions for you (I am joking):
I can draw absolutely perfect trendlines on every historic chart on all timeframes. ----> if drawing trendlines in live trading would be that easy,
everybody would be a multi-millionaire soon.

Unfortunately not all trendline breaks are profitable.
We get fake breakouts and retest of trendlines and all of that.
How to avoid all of these losing setups ?

Where do we go from here ?

Who thinks he can make profits with the Cobra system ?
Oh, I see.
Komugi, you still think you can get profits with Cobra.
Ok.

Quote
Example if we check/Attach or can be set to current-time to the EA on M15, so It only reads and Close all Open Trades based on the 12EMA rules on the TF M15. I need to try this on all timeframe
My EA has a feature built in which assigns a new MagicNumber for the pair
each time you attach it to a chart.
Therefore you can have it attached to M5, M15, M30, H1, H4 or whatever
of one pair and it will create a new MagicNumber for each chart you attach it to and will only care for its own MagicNumber.
It is checking all historic and active trades on the pair for this purpose
and therefore there will be no double MagicNumbers.

Your other suggestions for trend check I will incorporate later when I have time.
  • Post #107
  • Quote
  • Edited at 8:26am Mar 19, 2012 7:52am | Edited at 8:26am
Quoting Rob_Trader
Here I found a series of 6 entry signals in a row within 10 days, where I would have probably lost money.

Does anyone have any idea how to avoid those trades?
http://www.forexfactory.com/attachme...1&d=1332021588
As we can see on D1 it's clearly. the prices are on a ranging market
(1) On D1 EMA 12 Close below SMA 72 Low (This can be used as buy filter on TF H1)
(2) On D1 All Open and Close Prices are above EMA 12 (This Can Be Used As You Sell Filter)
(3) on D1 all previous tails and body prices still touching bufferzone SMA 72 (simply using this to ignore all TRADE on H1)

what do you think ?
If you have to make a mistake, make sure it is a new one
Quoting Komugi
As we can see on D1 it's clearly. the prices are on a ranging market
(1) On D1 EMA 12 Close below SMA 72 Low (This can be used as buy filter on TF H1)
(2) On D1 All Open and Close Prices are above EMA 12 (This Can Be Used As You Sell Filter)
(3) on D1 all previous tails and body prices still touching bufferzone SMA 72 (simply using this to ignore all TRADE on H1)

what do you think ?
As this startegy is following the trend , I suppose it cannot work when the mkt is trending and there will be unavoidable losing trades. However, how about trading the M15 TF if the Daily chart as above is range-bound? Even though we dont see a good trend in H1 I am pretty sure that we will see a reasonable trend in M15. To trade H1 may be we need a good trend in the weekly chart. This bit I suppose we have to do manually and run the EA in either H1 or M15 accordingly. To determine/identify the trend or mkt flow we can look at the 5 fractals/swing points ( e.g. 5 bar ones). Higher highs or Lower lows will show the current mkt flow. Just a thought ... I personally see some potential in this EA.
Also, I am more than happy to help with back-testing or optimization of the EA etc.
Quoting Anu_
As this startegy is following the trend , I suppose it cannot work when the mkt is trending and there will be unavoidable losing trades...
Your are correct of course. However, that is why the system designer incorporated the ADX into the system to ensure the trades are in the direction of the trend. I suppose if you want to be extra cautious you can check both the higher time frame ADX and the lower TF to ensure all are in the same direction. Our biggest handicap is that we relay on indicators which by nature are lagging so there is no fool proof way of doing this.

Kind Regards
Quoting astral77
Your are correct of course. However, that is why the system designer incorporated the ADX into the system to ensure the trades are in the direction of the trend. I suppose if you want to be extra cautious you can check both the higher time frame ADX and the lower TF to ensure all are in the same direction. Our biggest handicap is that we relay on indicators which by nature are lagging so there is no fool proof way of doing this.

Kind Regards
I agree. But we have this issue only during range -bound periods I thought - is that right? If so, why we re-write the whole strategy to accomodate an occassional mkt condition? And I was referring to the chart in post 107. I beleive when the mkt is trending even at a reasonable level we would not have these bad entries frequently. Correct me if I am wrong as you have looked at this longer than I have.
Hi Guys,

My EA can take a normal trend trade with the normal Cobra signal or if we get a reversal candle, but the PA is all in place, it will counter trade if you let it. I will have a input parameters, to allow both trend and/or counter trades. I found some pairs perform better only taking counter trades. I also found that it seems in back testing this strat works better on the 4 hour charts. I have also been using a trailing stop loss. I will let the EA set the SL to the low/high EMA12, but will also use a trailing SL once in profit. I have been optimizing the TSL in profit and trailing SL numbers. Also I have added an ATR stop loss for the counter trades. Since the counter trades will not be in the right position at the start to allow the EMA12s to be the trailing stop loss. I will have a dynamic lot sizing module, that I have code the best that I can to reflect the DDSMM MM strategy. This can help take a so so strategy and make it more profitable by using money management. If you look for the DDSMM excel spreadsheet online, you will see what I mean. I just need to clean up the EA and I will create a word doc with an explanation of inputs.

Features:
- Cobra Trend Strategy as outlined in the original PDF(I hope it is close)
- Cobra Counter Trend Strategy, where price action is inline, but we have a reversing candle or the ADX is not trending and/or above 22.
- Jump SL
- BE SL
- Trailing SL
- Normal risk MM
- DDSMM MM

I will try to get this out next week guys. Then you can help test it and find all the buggies. Thanks - TCO
Quoting TallCoolOne
Hi Guys,

My EA can take a normal trend trade with the normal Cobra signal or if we get a reversal candle, but the PA is all in place, it will counter trade if you let it. I will have a input parameters, to allow both trend and/or counter trades. I found some pairs perform better only taking counter trades. I also found that it seems in back testing this strat works better on the 4 hour charts. I have also been using a trailing stop loss. I will let the EA set the SL to the low/high EMA12, but will also use a trailing SL once in profit. I...
sounds good, man!
I`ll be here to help you test it.
Quoting gbraidotti
sounds good, man!
I`ll be here to help you test it.
yea..h, I will also help out with testing/optimization if you need no problem. Appreciate your work on this and sharing with all of us here.
Quoting fxtr51
Where do we go from here ?

Who thinks he can make profits with the Cobra system ?
fxtr51, it is really funny.

Both you and LazyPawn participated in LazyPawn's thread that made fun of several very profitable and well established systems (TMS, Alorente's system, forexhard's system) and yet you both can't see that this Cobra ain't gonna fly and you wasted more than 50 hours trying to make work this dead born baby.

In LazyPawn's thread I said that a good trader could evaluate the system in 2-3 days... I knew that Cobra is a joke in 15 minutes...

Like our mutual friend says: just sayin'...
Gentlemen always play by the rules. If they can't, they change the rules.
Quoting Favorite
fxtr51, it is really funny.

Both you and LazyPawn participated in LazyPawn's thread that made fun of several very profitable and well established systems (TMS, Alorente's system, forexhard's system) and yet you both can't see that this Cobra ain't gonna fly and you wasted more than 50 hours trying to make work this dead born baby.

In LazyPawn's thread I said that a good trader could evaluate the system in 2-3 days... I knew that Cobra is a joke in 15 minutes...

Like our mutual friend says: just sayin'...
Favorite, our dispute only ended because Al told you to stop insulting me, you remember ?
What does that tell us about you ?

Al is not in this thread, so you come here to start bickering again.
Something inside you has control over your emotions and thoughts
and that something is not mature, it is very bitter and dark.

You try to hide that with your cynical rhetoric skills, but who profits from that ?
Nobody.

Of course you are smarter than most others in FF, therefore you found out that Cobra is useless in 15 minutes ?

What you didnīt consider is that I am learning mql by coding indicators and EAs and each "product" helps me to improve my skills.

Yesterday and today I invested about 15 hours in another project and I like it.

Still you have no clue about the meaning and purpose of the thread which LazyPawn started. Your ego is blindfolding you and because you donīt understand what people are talking about, you feel urged to attack
and insult everybody who is not a devotee of your favorite thread-starter.

By doing this you are the perfect example of what we are talking about there. Maybe some day you will grasp the meaning, maybe not, only time will tell.

Now, maybe you can take the time to explain to all those in this thread you insulted in your very first posting here, why you think that Cobra will not fly.
Deliver substance here and not BS, or is your attitude against people who you put in the category "more stupid than I am" so bad that your false pride will not allow you to do it ?

I tell you something you should consider:
Showing contempt based on prejudices against others is a poison which is destructive and will not lead to happiness in your life and in the life of those whom you meet.

You try to compensate this poison by flattering and behaving like a devotee in a cult , but that is not the solution. It smells bitter and if you have any sensitivity left, you feel this bitterness inside of you.

I wish you all the best, Favorite.
Favorite,

Let me correct something first since it's my thread you're referring to. Nobody made fun of the TMS system there. Nobody made fun of the stairstep system, just of some ridiculous posts written by its OP. There was some fun being made of the TMA system and for good reasons.

The Cobra system has very clearly defined rules for entries and exits. It can be tested and it was tested. I spent almost an entire weekend doing that. fxtr51 spent at least twice as much and wrote great indis and an EA. I thank him for his hard work. But at least now we know it's not a good system, at least not strictly with the original rules.

You, probably being a genius, saw that in 15 minutes, without testing. Congratulations. But consider a system based on repainting indicators, with rules changing at least twice a week, with charts that look like a Xmas tree, with a martingaling system instead of SL, with no way to backtest, with no charts and no clear SL/TP posted by anyone when the trade is taken (just some glorious stories after the fact) ... how come you don't see that it's a complete waste of time and cannot work?

Do you see the difference? Trader A comes with a clear set of rules. We test them, see that it's a BE system, we abandon it. All in 1 week and 3 pages. Trader B claims he has this great system he's been using for a year and it's making him 75% per month. And then he keeps changing rules, adding indicators and filters, finding excuses for losses, suggesting "recovery" instead of accepting that losses are part of the game (do you have any idea what that does to beginners' accounts?) and so on. And that goes on for thousands of posts. And you think that trader B is the one to follow.

I know you will never listen to any kind of advice coming from me because you have this crazy idea that I have something against you or your system. But please listen to what all the great traders have to say on this issue. Read books like Market Wizards or talk to real professionals. There are certain things they all have in common, besides hard work. They are all willing to accept when they're wrong, they don't come up with ad-hoc excuses for a trade that went south. They are all quick to take a loss while exactly the opposite is true for the account-blowing type. They are not proud, they don't post pictures with themselves or their house and don't pretend to know everything about all markets, fundamentals and indicators. The vast majority are and were trend following traders, not looking to get 20 pips on the retracement following a 200 pip move. They are humble, they don't like cult following, they don't like to talk about how much they made last month or last year.

PS - I apologize to the OP for the off topic.
Quoting fxtr51
Favorite, our dispute only ended because Al told you to stop insulting me, you remember ?
What does that tell us about you ?

Al is not in this thread, so you come here to start bickering again.
Something inside you has control over your emotions and thoughts
and that something is not mature, it is very bitter and dark.

You try to hide that with your cynical rhetoric skills, but who profits from that ?
Nobody.

Of course you are smarter than most others in FF, therefore you found out that Cobra is useless in 15 minutes ?

What you didnīt consider...
And it is even funnier (please continue, you're amusing me)!

You didn't say a word about the point I made, but instead you try to attack my personality. And guess what? This psychological mumbo jumbo of yours doesn't work and I don't give a rat's ass about what you think about me!
Gentlemen always play by the rules. If they can't, they change the rules.
Quoting LazyPawn
I know you will never listen to any kind of advice coming from me
You're SO right!
Gentlemen always play by the rules. If they can't, they change the rules.
Quoting LazyPawn
You, probably being a genius, saw that in 15 minutes, without testing. Congratulations. But consider a system based on repainting indicators, with rules changing at least twice a week, with charts that look like a Xmas tree, with a martingaling system instead of SL, with no way to backtest, with no charts and no clear SL/TP posted by anyone when the trade is taken (just some glorious stories after the fact) ... how come you don't see that it's a complete waste of time and cannot work?

Do you see the difference? Trader A comes with a clear set...
Now seriously.

I wasn't Big E's follower, I adapted his TMS system, refined it, fine tuned it, made it to fit my trader's style, my MM and my trader's views. To do that, I opened a TMS thread on another forum where we could discuss all the changes we can make to fine-tune a system and to make a good system even much better. And my modified system is a real money-maker.

And I'm not Alorente's follower either! The same thing: I went to another forum, discussed the issues with several very good traders, tested, re-tested, changed and refined the system so it would fit my trader's style, my MM and my trader's views. And again, my modified system is a real money-maker (and my template doesn't look like a Xmas tree, and I use locking 20 pips instead of recovering 100 pips, and dozens other differencies).

So, I don't want to disappoint you, but I'm not a follower...


P.S. Dear topic-starter, I'm sorry for the off-top!
Gentlemen always play by the rules. If they can't, they change the rules.
Quoting Favorite
... I knew that Cobra is a joke in 15 minutes... Like our mutual friend says: just sayin'...
Hi
I would be very grateful if you could elaborate more and tell us why you think this system is a waste of time. Maybe it is, may be it is not. If it is then we can get on with other things. As far as I can see this is basically a MA Cross system with ADX filter. We all agree it is missing a vital component such as S&R or pivot lines etc.

FF has an abundance of good traders who are successfully trading forex (e.g. BigE`s TMS, Alorente's TMA, etc). We are here to exchange ideas and learn in order to defeat the common enemy who are the criminal brokers. Making personal attacks and carrying grudges is not constructive and distracts us from the real purpose of being here.

I thank you in advance

Kind regards
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