David Bean – Cobra (aka Viper Crude)

Description

Cobra

Cobra (initially Viper with a reputation change on October 17, 2011) is a pattern following day-trade technique that trades inventory index futures, euro foreign money, bonds, and crude oil. This unique technique was designed on the finish of 2005 for inventory index futures utilizing market internals. A modified model additionally trades Bonds, Euro Currency, Crude Oil, and the SPY ETF.

 

I contemplate Cobra my flagship buying and selling system primarily based on the truth that it really works so properly over a broad vary of markets with little or no change within the buying and selling system for the completely different market sectors. It trades the next markets: E-mini S&P, E-mini Russell, E-mini Midcap, Crude Oil, E-mini Crude Oil, Euro Currency futures and foreign exchange, 30 Year T-bonds, and the SPY ETF.

 

How does Cobra work? The particulars of the technique are proprietary. In common, I mix my very own sample primarily based entry method in addition to my very own pattern indicator. If the pattern is up, then we take lengthy trades if the lengthy sample setup is there. If the pattern is down, then we take quick trades if the quick sample setup is there. The aim is to commerce the pattern and get in earlier than the pattern accelerates however to additionally be certain that now we have the pattern appropriate. We usually are not trying to name tops and bottoms however might be described as a “middle trend finder” and to get a bit of the pattern someplace within the center. It is a day commerce technique.

 

What is the historical past? When was it designed?

 

I designed the Cobra buying and selling system in 2005 (initially known as Viper) for the inventory indexes with the creation of Cobra I inventory indexes. In 2008, I made a decision to scale back the day by day danger for merchants trying to quantify day by day danger inside a system by limiting the system to at least one commerce. I made the modification of limiting it to at least one commerce in Cobra II and likewise added a revenue goal. Cobra and Cobra II have the identical entry standards.

 

In 2009, I added Cobra III which has a extra selective entry standards than Cobra I and Cobra II however like Cobra II, in that it has one entry per day and a revenue goal.

 

In 2008 and 2009 I additionally added different markets equivalent to Crude Oil, Euro Currency futures and foreign exchange, and 30 Year Bonds.

 

The pattern indicator for non inventory index markets is completely different for the reason that inventory index market use New York Stock Exchange market internals equivalent to $TICK, $ADV, $DECL, and so on. This is the primary distinction. The pattern indicator between non inventory index markets is identical.