CobraAlgo.com Review

Not yet rated
2.6 • 2 REVIEWS
Updated: Jan 20, 2024
Visit site
2.6 • 2 REVIEWS

Recent User Reviews of CobraAlgo.com

J
Jack
El Paso TX, USA,
May 4, 2021,
Guest

Solid set of tools, and amazing accuracy.

Service use: Live Length of use: 0-3 Months
I found this service to be quite beneficial especially with all the tools they provide. During this newest update the Vendor added brand new features that enhanced the way that I trade.

I no longer have to second guess myself for any trades, and with the use of alerts I don't need to look at my chart 24/7. This service is so reasonably priced, I am shocked that they don't charge more! During my last month using this software i've netted around $11,000 in the markets, with an average win rate of above 94%.

Honestly, I really have no complaints and I've referred this service to three or four of my close trading friends. Anytime I had questions, they also answered almost immediately each time on the chat box in the website.

Really a 10/10 service, and is absolutely genius for avoiding emotional trading. The PDF guides and youtube videos are also super informative.
F
faithdefender
VA, USA,
Mar 23, 2021,
Registered user

All the hard lifting is up to you

Service use: Live Length of use: 0-3 Months
This developer offers a 3 day trial for their indicator on the Trading View platform.

I was first hesitant because it did not mention it worked for Forex Pairs. However, after I contacted them and brought it to their attention, they thanked me and added "Forex Pairs to their line-up on the website.

I explained I wanted to try the indicator, but with a 3 day trial limitation, it would be difficult to see how it performed with 28 pairs, since many pairs do not behave the same. I was told to try the 3 days and contact them again for a one time extension.

During the 3 days it was difficult to evaluate any progress. Respectfully, It was a waste if you trade daily charts.

The indicator is designed to add a buy or a sell notice on the screen, but hardly anything appeared "fresh" in the 3 day trial.

They did extend the trial another 4 days, but again, I experienced the same problem. I could only see existing buys and sells b/c there was not enough time for the indicator to point out a buy or sell in 3 -7 days, again, if you are a long term trader.

The indicator is set to a default setting of 170 and 70. But the vendor knows it may or may not be suitable for the asset you are trading. Thus, it is left up to the customer to play with the settings and see what works. They do not provide a cheat sheet to help.

I asked for help and they told me; ""I cant provide settings, as it’s different for all time frames and pairs."

Also, the indicator is designed to work on limited time frames. (I am sure it may work outside of that limitation if you play with the settings) however, you are limited to six. 1M, 3M, 15M, 30M, 1H and 1D. Again, restricting needed time for back-testing or evaluating what pair works best with what timeframe.

This hardly seems fair to have the customer pay as he figures out what works and what doesn't work. Nevertheless, I went ahead and paid the subscription price (in the name of research) of $39.00 a month.

This would be almost 500 dollars a year unless you signed up for a year which would give you a 20% savings and a bill of $379.00.

The primary challenge with this indicator is the settings. You NEED time to find out what Pair and time frame works correctly with the algo. But, take note, if you change the settings; i.e. if you change the entry, it effects the exit or vice-versa.

Included in the indicator signals are take profit 1, 2 and 3. They do not always appear. Thus, you cannot rely on them to know when to exit because they simply never show up on many pairs.

Again, a change in the settings can remove any or all of the targets.

During my trial the vendor made a revision. Buy and Sell signal became Entry and Exit . This caused me confusion because I saw trades on the chart with an Entry going long and an Exit above telling me to get out of the trade. (I have photos, but cannot show for explanation-sorry) But nothing to tell me of a new short. I was told I could use the Exit as a Short signal. Fair enough.

But another issue I was having was the chart was showing targets, but without any Entry or Exit. I provided pics to the vendor, but I never got an explanation for this.

Do I think this indicator has potential? Maybe better on Stocks and/or Futures? My chief complaint is the subscription price and the time it takes for the customer to figure out what setting(s) work and what does not work.

That needs to be addressed by the vendor. Not cool to leave the settings up to the paying customer. It doesn't seem right to make us do all the heavy lifting.

I was never able to achieve this in both 30 days paid and 7 days of trial. Maybe if the price is changed, I will have more time for evaluation and I will revise this review. thanks for reading
1 trader has found this review helpful