Forex Diamond It is an automated trading platform that boasts a 40+ recovery factor, according to its creators. The devs convince us that it’s a ‘world-class Forex system’ that can take ‘your trading to the next level’. They share the product’s key features, live trading results, backtest reports, and other information to show transparency. It’s good. But is it a good EA for you? What are the potential risks? How much can traders make with Forex Diamond? That’s what we are going to discuss in this Forex Diamond review.
Forex DiamondTo Trust or Not Trust?
The system trades at low drawdowns and with acceptable risk to the account balance. However, id does not generate stable profits. The robot’s live trading results show that it is not returning to the same monthly gains it had before.
- There are three strategies for the robot on the board.
- Trend strategies can be used to profit from market movements.
- Scalping is performed while trading the counter-trend strategy.
- The robot can be used with MT4 or MT5 terminals.
- There’s a dynamic trading logic.
- It supports trading in four pairs.
- The system is built on an algorithm that can be updated by the user.
- The robot opens trades frequently and uses margin every step of the way.
- It calculates dynamic SL/TP levels.
- There are over 40 recovery factors.
- It protects against high slippages as well as from opening deals during high spread periods.
- The system protects profits earned (probably Trailing Stop Loss).
- To ensure optimal profits, it monitors all trades.
- The EA doesn’t require any further optimizations and can be attached to the chart with default settings.
- We’ll be allowed to get access to the member area.
A copy of the product can be obtained at a discount of -130$ The vendor sells the EA through ClickBank, so there’d not be issues with a money-back guarantee. The $267 price of the pack is lower than its $397 regular price. Buying it, we’ll get on license for one real account, advanced news filter, several demo accounts, and a 60-day money-back guarantee. Only 4 currency pairs are supported by the system. Before you start trading, make sure to check out this list. Forex Diamond.
Verified trading results
Seven backtest reports are included in the presentation, with different lot sizes and pairings. This one had a win-rate 78.10% on GBP/USD during nineteen years. It traded within the M15 timeframe. The modeling quality was 90 percent. The maximum drawdown was incredibly low – 2.54%. The profit factor was very low as it was for a backtest.
This was a USD/JPY test for the same period. Win-rate was the same–77.37%. The profit factor (1.51%) and maximum drawdown (2.69%) were also the same.
There’s a real AUD account on IC Markets. The robot trades automatically using MetaTrader 4, with a leverage of 1:500. A new account was opened on March 7, 2019 and it was funded at A$490.47. The absolute gain has increased to +149.09% since then. The average monthly gain is 2.3% Peak drawdown was 21,14%. Over 3 years, the system could earn a profit in excess of A$628.49. Frankly, it’s so low and does not look impressive.
The screenshot below shows the low system profitability. It is because the profit factor of 1.13 is shown. A 70% win rate is the average. On average, the system keeps an order open for five hours. This indicates that scalping trading has been abandoned.
We can see that the FX robot was more profitable in its early years than it is today in 2022. The EA saw some strong months in 2019 In 2022, the robot has seen a 50% increase in its overall performance.
The company responsible Forex Diamond It is also well-known for creating other expert advisors. This list includes Smart Scalper Pro (Omega Trend EA), Wall Street Forex Robot, Forex Gold Investor, and many more. FX Automater does not provide any information about their team members, headquarters, or trading experience in FX markets. You can reach support by emailing traders via the contact form at the bottom.
Testimonials and mentions
There’s a page on Forex Peace Army. However, no comments are made by angry or grateful clients. The presentation doesn’t include people’s testimonials as well.
Forex Diamond Review Summary
In the case Forex Diamond, a cool presentation doesn’t mean solid trading results. The robot failed to execute a Grid plus Scalping trading combination, according to the results.