David Bean – Cobra (aka Viper Crude)

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 think about Cobra my flagship buying and selling system primarily based on the truth that it really works so effectively 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 normal, I mix my very own sample primarily based entry approach 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 sure that now we have the pattern right. We will not be seeking to name tops and bottoms however could possibly be described as a “middle trend finder” and to get a chunk 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 referred to as Viper) for the inventory indexes with the creation of Cobra I inventory indexes. In 2008, I made a decision to cut back the day by day threat for merchants seeking to quantify day by day threat 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 in addition 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 reminiscent of Crude Oil, Euro Currency futures and foreign exchange, and 30 Year Bonds.

The pattern indicator for non inventory index markets is completely different because the inventory index market use New York Stock Exchange market internals reminiscent of $TICK, $ADV, $DECL, and many others. This is the principle distinction. The pattern indicator between non inventory index markets is identical.