full review Forex Diamond Review

Forex Diamond EA Review

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FXSherlock /
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In this Forex robot review we’re going to break down all the pros and cons of Forex Diamond EA – the Forex robot that works using three independent strategies in its trading. Follow this review to get detailed information about Forex Diamond EA.

Basic information about Forex Diamond:

  • Price$207
  • Currency pairGBPUSD, EURUSD, USDJPY, and USDCHF
  • Number of real licenses1live account and several demos
  • Support24/7 rapid support
  • Refund60-day money-back guarantee

Conditions for trading:

  • Minimal deposit amount
  • Minimal leverage1:500
  • Time frameM15
  • TerminalMT4 and MT5
  • BrokerAny

Live performance of Forex Diamond taken from Myfxbook

There are two live trading accounts of Forex Diamond available on Myfxbook. There are different trading periods, currency pairs, and results for each of the accounts. But all the trading charts look sharp and almost do not have a straight upward trend. There are several deep stop-loses that the Forex Diamond EA has faced during its trading as well. Read a detailed analysis of each of the Forex Diamond live accounts further in the review.

Forex Diamond GBPUSD Fixed Lots Forex Diamond GBPUSD Fixed Lots backtest results
Forex Diamond GBPUSD 1% Risk + Recovery Forex Diamond GBPUSD 1% Risk + Recovery backtest results
Forex Diamond GBPUSD 2% Risk + Recovery Forex Diamond GBPUSD 2% Risk + Recovery backtest results
Forex Diamond GBPUSD 5% Risk + Recovery Forex Diamond GBPUSD 5% Risk + Recovery backtest results
Forex Diamond USDJPY Fixed Lots Forex Diamond USDJPY Fixed Lots backtest results
Forex Diamond EURUSD Fixed Lots Forex Diamond EURUSD Fixed Lots backtest results
Forex Diamond USDCHF Fixed Lots Forex Diamond USDCHF Fixed Lots backtest results

As well as the live accounts the Forex Diamond EA has got a list of backtests that are supposed to show possible trading results of the system from the long-term perspective. There are 7 backtests available for Forex Diamond EA: 4 tests of GBPUSD currency pair, 1 for USDJPY, 1 for EURUSD, and 1 for USDCHF. Most of the backtests have 19-years of backtesting except for the GBPUSD currency pair with 1%, 2%, and 5% risk.

All the backtests were made on the basic MetaTrader backtester on the M15 timeframe with 90.00% accuracy which is normal for the EA that does not use scalping strategy and doesn't need the precise every tick data for its proper work.

Disclaimer

*The backtests are taken from the developers’ website
*The subsequent analysis of the adviser is based on live analytics from the Myfxbook website. We’ll go through the pluses and minuses of the trading system as well as the profit and drawdown analysis.

Profitability and drawdown

The Forex Diamond EA has got 2 live trading accounts on Myfxbook. The most profitable of them is the “Forex Diamond REAL MONEY” account that has 84.63% of the gain. The fixed drawdown level of this account according to Myfxbook is 20.31% but there is also a floating drawdown level of 24.72% that has been fixed in March 2020 (look at the chart below).

Forex Diamond EA live trading from Myfxbook - ForexStore review

There is one interesting fact about this particular trading account of the robot. The developer of the EA hid a part of the statistics which at the beginning of the trading was unprofitable. It is possible to see this statistic if we use the Myfxbook tool “Custom analysis” by which we can open full statistics that could be hidden by the developer. If you see an information window like the one, we provide in the following screenshot at the top of the page, you have to be aware that there is some part of the trading statistics of the account that the developer does not want you to see.

Forex Diamond EA live trading from Myfxbook - ForexStore review

So, if we look at the full statistics of Forex Diamond it is obvious that the start of the trading was very unlucky for this Forex expert advisor. There was more than 17% loss at the very beginning of the trading as we can see in the following screenshot.

Forex Diamond EA live trading from Myfxbook - ForexStore review

This information is important to understand because it makes a big difference in the statistics numbers of absolute gain and drawdown level of the system. This way, the Absolute gain level changes from 77.11% to 48.74%, and the drawdown level changes from 20.31% to 26.97% which is a huge difference. The following graph shows the difference mentioned.

Forex Diamond EA live trading from Myfxbook - ForexStore review

This account of the Forex Diamond EA has the largest gain level from all three of them. Considering 24 months of live trading, and 48.74% absolute gain with the 26.97% of the highest fixed drawdown the profit to drawdown ratio is 0.08:1 which is too small to be called a profitable Forex robot.

The next available live account of the Forex Diamond EA is the one that trades on EURUSD and USDJPY currency pair. The gain level of this account is 24.07% and the drawdown level is 10.15%. This account has been live for 37 months which is more than 3 years already. More numbers of this account are available on the screenshot below.

Forex Diamond EA live trading from Myfxbook - ForexStore review

As we can see, there is the same sharp movement of the graph with many downward movements which is displayed in the profit to drawdown ratio. The ratio looks not that good though. It is even smaller than the ratio of the previous account – 0.06:1.

Trading

The system is called to be containing 3 completely independent trading strategies in one robot which should make it more flexible to the conditions of the market. In fact, the trading activity of the Forex Diamond EA shows that the system mostly acts like some kind of non-toxic scalper that from time to time takes up to 25-30 pips.

Based on the numbers of pips taken by the robot, it is clear that mostly the system takes around 2 to 15 pips per trade which definitely describes it as a scalping EA.

Forex Diamond EA live trading from Myfxbook - ForexStore review

These numbers are taken from the “Forex Diamond REAL MONEY” Myfxbook account of the robot. There are a fixed lot-size and take-profit level for this account which is probably part of the trading strategy.

As the developer declares, the Forex Diamond robot can use three trading strategies simultaneously or one/two of them separated. Using the first so-called “Signal strategy” the EA analyzes the market and looks for strong impulses. Once the impulse is discovered, Forex Diamond dynamically sets up the trading parameters and executes the trade.

The “Security countertrend” strategy is built in the robot to immediately adjust trading positions to explore the reversal when the market signals look like a potential reversal. It is supposed to allow traders to make a profit in a specific market condition.

And there is also an “Aggressive Countertrend Scalping” strategy which in my opinion is the main idea of this Forex robot. This is just regular high-frequency trading with spread protection to make short-term scalping trades.

As we can see from the Myfxbook statistics the short-term scalping trades are the main way of trading Forex Diamond EA. The following screenshot reflects the trades' duration trend of the robot and shows that the Forex Diamond mostly closes trades in the range from a few minutes to 11-12 hours. But the main concentration of the closed trades is located in between the 6 min – 6 hours range.

Forex Diamond EA live trading from Myfxbook - ForexStore review

Another signal that confirms the statement about the scalping nature of this EA as the main strategy is the trading frequency statistics. The following screenshot represents the numbers of executed trades of the “REAL MONEY” trading account of the robot.

Forex Diamond EA live trading from Myfxbook - ForexStore review

As we can see the robot made 2836 trades on the GBPUSD currency pair and 496 trades on the USDJPY currency pair since the beginning of trading which in total is 3332 trades or 138.8 trades per month.

Conclusion

Summarizing what’s been said about this Forex robot it is needed to be mentioned that the EA has a nicely done selling web-page and the developer opened up a lot of information about the trading of the system as well as live results and more.

On the other hand, it is obvious that the system has a hard time bringing constant reliable profit having a very small profit to drawdown ratios and a very sharp statistics movement. This system should not be called either a reliable or high-profitable automated Forex trading strategy.

Even though the EA has all the features like live trading accounts, backtests, money-back guarantee, and others, it still misses the most important – profit and constancy which is the key to success in the field of Forex robot trading.

Final marks

So let’s finish this review by giving appropriate assessments to the Forex Diamond based on the analysis of its work, statistics, and other factors
Price VS Quality
3.5/5
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Profitability / Drawdown
2/5
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Statistics duration
5/5
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Backtests
5/5
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Authors’ rating
2/5
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AVERAGE
3.5/5
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Speaking about the price to the quality comparison of Forex Diamond EA I give it 3.5 out of 5. Even though the system has got a list of backtests, live trading accounts on Myfxbook, and many other features that make it look very attractive, the EA misses the most important – constant high profits and the minimization of losses.

As it’s been described previously, the Forex Diamond EA has got very small profitability to drawdown ratio of 0.08:1 and 0.06:1 on live trading accounts which cannot claim to have more than 2 out of 5 for this stat.

The current trading period of 24 and 37 months of live trading is more than enough for doing permanent conclusions about the destiny of this Forex robot. It has 5 out of 5 for this stat, but this still does not define it as a reliable Forex trading system rather it just gives a long trading history which should only confirm the statements articulated in this review.

The developer of Forex Diamond made sure to provide a list of backtests which show from 9 to 19 years of backtesting of the system. This is more than enough to give the Forex Diamond EA 5 out of 5 stars for this stat.

I give this Forex robot 2 out of 5 stars and I do not recommend trading with this EA straight ahead because of its unstable trading results that we can see on developers' accounts from Myfxbook. Instead, I would recommend using it on the demo account for a longer period to see if it trades stably and brings some profit. Also, I would not recommend this EA to those, who expect to get high profits since the EA shows a very low profit to drawdown ratio and the high-frequency trading of the EA does not make a difference.

Automated ForexStore rating is

5/10

At the moment of writing this review, the automated rating system of the ForexStore rated Forex Diamond EA with 5 points out of 10 which differs from  the marks that I've considered after review of this Forex robot by 1 point. This is probably due to the fact that the system has got the highest marks for trading duration and the backtesting result.

I hope this helps you, traders! I wish you profitable trading and luck on the market!

Forex Diamond EA popular Forex system
Forex Diamond
Forex Diamond EA popular Forex system
Forex Diamond
$297
$207
Buy
Visit the developer's website
R
Forex Diamond EA popular Forex system Read detailed review

Forex Diamond

rating 6.8/10 mt4/5
  • Gain 102.93%
  • Monthly 2.9%
  • Drawdown 21.14%
  • Days in Live 746
  • Metatrader 5 compatible
  • Metatrader 4 compatible
  • Dynamic trading logic
  • Secure profit
  • 24/7 rapid support

Statistics

Forex Diamond GBPUSD, USDJPY - Real

Forex Diamond - live statistics Forex trading account

Forex Diamond - Demo 1

Forex Diamond - very profitable results

Backtests

Forex Diamond GBPUSD Fixed Lots 19-Year Backtest Forex Diamond GBPUSD Fixed Lots backtest results
Forex Diamond GBPUSD 1% Risk + Recovery 9-Year Backtest Forex Diamond GBPUSD 1% Risk + Recovery backtest results
Forex Diamond GBPUSD 2% Risk + Recovery 9-Year Backtest Forex Diamond GBPUSD 2% Risk + Recovery backtest results
Forex Diamond GBPUSD 5% Risk + Recovery 9-Year Backtest Forex Diamond GBPUSD 5% Risk + Recovery backtest results
Forex Diamond USDJPY Fixed Lots 19-Year Backtest Forex Diamond USDJPY Fixed Lots backtest results
Forex Diamond EURUSD Fixed Lots 19-Year Backtest Forex Diamond EURUSD Fixed Lots backtest results
Forex Diamond USDCHF Fixed Lots 19-Year Backtest Forex Diamond USDCHF Fixed Lots backtest results

Top features Forex Diamond EA

You have THE GUARANTEE of Accurate Operation, the benefit of complete service and lifetime future updates only by buying the ORIGINAL PRODUCT!

  • 3 (Three) Completely Independent Trading Systems In One EA
  • Dynamic Trading Logic
  • Self-Updating Algorithm
  • High Trading Frequency
  • Amazing 40+ Recovery Factor
  • Reasonable Dynamically Calculated Stop Loss and Take Profit Levels
  • Less Need To Be Optimized Then Other Robots
  • High Slippage Protection
  • High Spread Protection
  • Profit Protection System

Unlocks profit

How Forex Diamond EA UNLOCKS Profit Potential with 3 Sophisticated Market Domination Strategies

Forex Diamond EA is a rare combination of trend and countertrend strategies, smart money-management, dynamic trading parameter configurations and rapid trade execution.

Forex Diamond EA is a complete trading system for currency traders who want speed, precision and reliable performance.

Forex Diamond is designed to trade with 3 proven algorithms:

Forex Diamond EA algorithms
Forex Diamond EA algorithms
Forex Diamond EA algorithms

Real-time calculation

Dynamic, Real-Time Calculation And Adaptation To Current Market Conditions

Critical trading parameters like Stop Loss, Take Profit, and threshold values are dynamically calculated and managed by Forex Diamond EA.

Forex Diamond EA is adjusts your positions in real-time to take advantage of every opportunity to boost your profits. You can say goodbye to the days of babysitting your trading positions and manually calculating stop loss, take profit and trend thresholds.

Improve trading profits

Here's How Forex Diamond EA will Dramatically Improve Your Trading Profits

We've selected and tested three high-performance trading systems - Trend-Retrace, Countertrend, and Countertrend Scalping, and combined them in the Forex Diamond EA.

Each trading system works to maximize your profits by using proprietary dynamic trading algorithms. This capability allows you to successfully trade in any currency market in any conditions.

Along with Forex Diamond's Trading Algorithms, we've added KEY TRADING TOOLS to boost your performance including:

Rapid Market Impulse Trading Levels

Forex Diamond automatically sets your trades to take advantage of market volatility movement. Each trade can be configured based on your trading strategy or set automatically with existing trading rules.

Optimal Money-Management

Forex Diamond systematically tracks your open trading positions and closes each out at the optimal profit levels.

Rapid Help Desk Support

Our team of client service experts is ready to answer any question you may have about the Forex Diamond software. Our goal is to make sure you spend your time trading, not dealing with technical issues. If you ever have any trouble or need help, support is on-hand to help with anything you need although the software is user friendly and the included instructions are very easy to follow if you have any questions at all support is happy to help – usually in less than an hour.

High Frequency Trading

Forex Diamond works hard to build your account position. Our proprietary trading algorithms can execute more than 1,200 trades per year. We know the importance of keeping your money working for you and Forex Diamond excels at steadily and profitably growing your account.

Low Optimization Required

Forex Diamond needs less optimization than other EAs. One thing traders hate is spending precious time manually optimizing their trading bot. We've seen many robots requiring almost daily optimization to trade properly! That's why Forex Diamond calculates trading parameters based on the market. The EA takes care of itself, adjusting its parameters to match the current market conditions. Forex Diamond is designed to require minimal optimization, which allows you to spend less time babysitting and more time earning.

High Slippage Protection

Slippage erodes your profit. One of the reasons for slippage is a faulty, EAs that can't calculate and execute trades quickly. Slippage happens frequently during high volatility trading sessions with rapid market reversals and price fluctuations. Forex Diamond is optimized to execute trades quickly at the right moment, lowering the possibility of slippage with each trade.

Spread Protection

In highly volatile markets, a favorable spread trading opportunity can evaporate in moments. A great trading opportunity can quickly turn to a loss unless your EA can execute the trade immediately. Forex Diamond's dynamic calculation sets the correct trading parameters and executes your trade without needing your intervention. This capability means that you lock-in your profits, capitalizing on even the quickest spread opportunities.

Profit Protection

Forex Diamond combines High Slippage Protection, Spread Protection, and a Special Trading Logic to protect your profits. Each of these features is adequate to protect your trading gains, combining all three provides triple-protection insuring your pocket and your hard-won gains.

SELF-UPDATING

Forex Diamond is updated as market conditions change – so it's always working, always up to date helping you maximize your overall investment strategy.

Trading strategies

One part of our "secret sauce" is the way we've packed three profitable signal trading strategies into one EA.

Forex Diamond EA strategies
Forex Diamond EA strategies
Forex Diamond EA strategies

You Are In Full Control – Use One Strategy Or ALL THREE!

You Decide How Hard Forex Diamond Works For You!

You can use all three-signal strategies at once or selectively turning ON or OFF a specific signal based on your strategy. Our team has optimized the strategies to work well together or independently giving you the best options for your broker conditions. We're confident that you'll see positive results with one or all of these signal strategies.

What you will get

As a Forex Diamond Member, you will get:

Forex Diamond Trading System

The complete Forex Diamond EA ready for quick-installation. Forex Diamond comes with a quick-install wizard that will walk you through the simple install and configuration process. No additional skills, tools, or downloads are required. Just double-click the wizard, and let it do the rest!

Access to Members Only Area

You'll have complete access to all Forex Diamond files and documentation from our exclusive member area. From there, you can download files, contact our support team, and review our easy tutorials.

24/7 Quick Response Support

Our support desk is open 24/7 to answer your questions. We pride ourselves on rapid follow-up often answering questions within one business day.

Quick Strategy Guide

We've included a detailed guide that will walk you through the best techniques for setting up and using Forex Diamond. We'll show you how to maximize the performance of Forex Diamond with our informative Quick Strategy Guide.

No-Questions-Asked 60-Day Money-Back Guarantee

We'll assume all of the risk! Use Forex Diamond for 60 days, and we'll promptly refund your investment if you decide it's not for you.

1 Live and Several Demo Accounts

Go ahead and use Forex Diamond with 1 live and several number of demo accounts at the same time!

Lifetime Updates

As a Forex Diamond customer you will have access to all future updates to Forex Diamond free of charge. We're giving you all you need to start trading with Forex Diamond today.

Precise and Scientific Trading

Forex Diamond takes human emotion out of the equation. It will flawlessly execute an optimized strategy every second of every session. This is the best way to trade Forex!

Purchase includes:

Forex Diamond - $297 $189.60

  • 1 Real-Money Account
  • Advanced News Filter
  • Several Demo Accounts
  • 60-Day Money-Back Guarantee
  • 4 Currency Pairs Supported
  • MT5 + MT4 versions

Coupon code with 20% OFF: 20AP2020
The coupon will expire at the end of April!

Refund policy

Your investment in Forex Diamond is protected by our no-hassle, no-bligation 60-Day Money Back Guarantee. You can contact us anytime in the next 60-Days for a prompt and courteous refund.

Forex Diamond EA popular Forex system
Forex Diamond
Forex Diamond EA popular Forex system
Forex Diamond
$297
$207
Buy
Visit the developer's website