EA Review: Forex Diamond EA
Forex Diamond claims to be a “world-class” forex system with a 40+ recovery factor. The site goes on to talk about three proven strategies that are the key to outperform the market. We have been promised extraordinary results and are here for it. We perform an EA review on Forex Diamond EA. Is it really world-class? Throughout this article, we will analyze every piece of information about the bot; its website, user reviews, and its stats.
What is Forex Diamond?
Forex diamond is an automated forex bot that is under the FX Automater group. The bot performs accurate, real-time calculations so that it can adjust to the near market trend.
The robot has been in the market for a while now. It prides itself on being fast, intelligent, and easy to install. Some sites have a million configurations to do before use, and this EA has minimal configurations to enhance user-friendliness.
Forex Diamond can be used with six currency pairs, including GBPUSD, USDJPY, EURUSD, and USDCHF. The bot costs $237 and is a counter-trend scalper that pays attention to high spreads and profit protection. You get a 60-day money-back guarantee with this purchase.
Features from the one-time purchase.
- One real and several demo accounts
- Three independent trading systems in one EA
- 40+ recovery factor
- Dynamic Trading Logic
- Advanced news filter
EA Review: Forex Diamond EA
The creators of the site talk of the diversified strategy that is a 3-in-1 strategy combo. These include:
- Signal strategy. This strategy includes using the Trend-Retrace Signal Strategy that analyzes the market trends and adjusting the parameters for profit.
- Counter Trend strategy is conveniently tasked with analyzing the market for potential trend reversals, adjusting the parameters to maximize profit.
- Scalping strategy. This strategy uses small spread trades so that you can enter and leave a trade still with maximum profit even when the market is volatile.
The bot can successfully execute around 1000 trades every day and will require little to no optimization. The creators also claim that, with the 40+ factor, the bot earns 40 times more money than it loses. It’s also compatible with MT4 and MT5.
The essential trading tools of the bot are:
- Rapid market impulse trading levels
- Reasonable Dynamically Calculated Stop Loss and Take Profit Levels
- 24/7 customer support
- High trading frequency
- High-frequency protection
- Spread and profit protection
- High slippage and spread protection
Forex Diamond works with your set trading strategy to manipulate the market volatility to your advantage. It checks out open trading positions and ensures that it opens and closes the trades at optimal levels. The robot’s trading algorithm averages about 1200 trades annually, ensuring that you can get as much ROI as possible. A profitable ROI also helps with account growth. Forex Diamond also comes optimized, so you don’t need to figure out manual settings to make the robot better.
Slippage is dangerous because your robot is working contrary to your set limits which then erodes your account. The robot has mechanisms that protect your account from slippage and huge spreads, by entering and leaving trades as soon as possible to take advantage of profitable windows. It’s prompt in refreshing its feeds to ensure that its decisions are based on current market trends.
EA Review: Stats and User Reactions
The website itself is appealing and doesn’t use long stories to invite you to buy, just a display of backed facts, and we find that impressive. The diversified strategy spreads your risks and sounds well prepared to counter market volatility.
Forex Diamond Backtest
Forex Diamond’s sales site has given us a 19-year backtest with a 90% modelling quality, and the prospects are looking good. According to the GBPUSD backtest, the robot ran on the M15 timeframe with a 2500 initial deposit. The spread was set at 10, and the test was run between 1999 and 2018. From the 2500 deposit, the robot was able to earn a net profit of 113626.53 with a relative drawdown of about 15.79%.
The model used 90% accuracy for its testing, which is relatively low considering you can do backtests with 99% modelling quality. From the 29144 tests modelled, the robot was able to win 14987 short and 14157 long positions. The profit factor is 1.58; the robot got 307906.35 gross profit and a total net profit of 113626.53, less than half of the total profits.
We couldn’t find user reactions to the Forex Diamond even with the impressive website and sales pitch. Though the bot seems to be well-reputed across the forex market, it’s worth checking out.
Forex Diamond on Myfxbook
Forex Diamond has provided data from a real account set on a 1:500 leverage; the trader begins with a A$419.90 deposit in 2019, which has so far made them profits of A$434.71.
The trades cost them A$69.01 interest which is probably due to the 21.14% drawdown. The account accrues 0.09% in profit daily and has expanded by about 103.53%. Forex Diamond has made a 71% profit from the 3755 trades it has made so far. The average length of the trades is 4 hours and 59 minutes.
Forex Diamond is optimized and ready for 2021. The bot seemed to pick up and trail off for a few years, but we believe their trial and error worked out; we now see steady growth. You won’t get a huge profit margin in the latter years, but you won’t close on a loss most of the time. The bot has had a steady verified win 70+% times, which gives you good odds.
Forex Diamond works with no intervention, making it easy, especially for amateur traders, to begin trading immediately after installing its software. We were impressed with the robot’s 3-in-1 strategy, allowing traders to take advantage of different parameters to make them successful. The developers are obviously experienced, evidenced by the interconnection between risk protection and ensuring that trades end in profit. We see a world-class quality with the bot and recommend trying it out.