NoE flying. Click the image to expand it.
As soon as you get the Ka-50 flying straight and level (and low), hit the altitude hold button in the autopilot panel (see image below). Make sure that the mode of holding altitude is based on radar and not on barometric readings.
The altitude hold button on the autopilot control panel and the altitude source switch. Click the image to expand it.
The upper panel lights up with an easy-to-see reminder of what you have switched on. Click on the image to expand it.
Once the altitude hold flight mode has been engaged and you are flying straight, level and low hit the collective brake lever ([F] in the keyboard) to set your current altitude as the desired altitude. Your Ka-50 will now fly at the altitude you just selected. Your airspeed can be adjusted by slightly pushing (increase airspeed) and pulling (decrease airspeed) the cyclic. I repeat "slightly": if you move the nose of the Ka-50 more than 5 degrees up or down from level, your Ka-50 will climb or sink. In this screenshot I'm making 200 km/h at 7 meters of altitude without any effort. Click the image to expand.
The time has come to reduce the airspeed: pull the cyclic, but don't let the nose to go up more than 5 degrees or you will climb. Note the aircraft datum in the HUD display: nose is no more than 5 degrees up. In this example, I reduced the airspeed from 200 to ~120 km/h without changing my altitude too much (just one meter up!). Click the image to expand it.