Cobra Neo Armor EA for MT4: A Comprehensive Guide
Introduction
The Cobra Neo Armor EA is an automated trading robot designed for Metatrader 4 (MT4). It offers promising results and employs a proprietary trading method to keep drawdowns low and maximize winning trades.
Key Features
- Scalping Strategy: The Cobra Adrenaline EA utilizes a scalping approach, making multiple small trades to capitalize on short-term price movements.
- Currency Pairs: While it can work with any currency pair, the best results are observed on GBP/USD and GBP/JPY.
- Time Frames: The EA is versatile and can be used on various time frames, including M5, M15, and M30.
Trading Strategy
The Cobra Neo Armor EA employs the following strategy:
- Precision Entries: The EA identifies precise entry points based on technical indicators, price patterns, and market conditions.
- Risk Management: It carefully manages risk by setting stop-loss and take-profit levels for each trade.
- Dynamic Position Sizing: The EA adjusts position sizes based on market volatility and account balance.
- Quick Exits: Trades are closed swiftly to lock in profits or minimize losses.
Trading Rules
- Origin: The original idea for this system came from an experienced trader named Turhovach. The system was compiled for MT4 by a trader known as cobraforex. The THV setup forms the foundation of this EA, and it incorporates the THV Trix indicator as a crucial component.
- Trading Rules:
- Entry: Long positions occur above the Coral (a specific indicator), while short positions occur below it. Additionally, price crosses the cloud, both Trix indicators cross each other, and they share the same color. A cross of the fast Trix on the zero level provides strong trend confirmation.
- Exit: Consider exiting when the faster Trix changes color or touches a known resistance/support level.
- Stop Loss: Set your stop loss according to your money management plan, considering the timeframe you’re trading and the specific currency pair.
- Usage and Scalping: While some traders use the THV system in higher timeframes, it has been proven effective mainly on the 1-minute (1M) and 5-minute (5M) charts. Extreme scalping is possible on the 1M timeframe, but it requires solid FX skills.
Optimal Settings
To achieve optimal results, consider the following settings:
- Minimum Deposit: While there is no strict minimum, we recommend starting with at least $500 to adequately manage risk.
- Time Frame: Run the EA continuously, ideally on a VPS (Virtual Private Server), to ensure uninterrupted trading.
- Currency Pairs: Focus on GBP/USD and GBP/JPY for consistent performance.
Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀
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