Forex Diamond is a quite known advisor of the well-known FXAutomater company. The presentation focuses on underlying the advantages. The main claim is that the system is “Brilliant and Profitable as a Diamond.”
Forex Diamond At a Glance
We prepared a table with some details for you:
|Trading Platforms||MT4 and MT5|
|Currency Pairs||GBPUSD USDJPY|
|Strategy||Grid and Price Action|
Forex Diamond Functionality
There are some illustrations with features:
- Forex Diamond works automatically for us on a real or demo account.
- We can use it on MT4 and MT5 platforms.
- The system has a dynamic trading logic.
- We don’t know the details.
- It can execute deals on GBP/USD and USD/JPY.
- The robot can update itself automatically.
- The system trades with average frequency.
- The advisor works with dynamic Stop Loss and Take Profit levels. It’s risky to run the system based on dynamics.
- There are many (40+) recovery factors.
- There’s a feature of Spread Filter.
- It prevents opening orders during high spread periods.
- There’s a Trailing Stop Loss feature.
- It supports orders that are on the market.
- It works well with default settings.
- There’s access to the member area.
- We have some explanations about strategies:
- The first strategy is a Signal strategy. It opens orders to catch a trend move.
- The Countertrend strategy focuses on being in time when the market turns on.
- The Scalping strategy cuts out several pips profits.
The discount was almost doubled. We can rely on -$110 OFF.
The advisor can be bought for $187. The original price was $297. The package is featured by a single real license, several demo lifetime demo accounts, 4 cross pairs supported. There’s an Advanced News Filter. We have MT4 and MT5 licenses. We may rely on a 60-day refund policy.
There’s support, manual, and free updates with upgrades provided.
Forex Diamond Trading Strategy Tests
We have a EUR/USD report on the M15 time frame. The data period was from 1999-2018. The modeling quality was 90.00%. The spreads were 10 pips. An initial deposit was $2500. The total net profit has amounted to $34,159. The Profit Factor was 1.54. The maximal drawdown was 4.14% ($932). The advisor traded 7238 orders with an 80% accuracy rate on Shorts and 79% on Longs.
What about Forex Diamond Live Real Trading Results
Forex Diamond has been working on a real AUD account on IC Markets automatically. The leverage is set at 1:500. The account has a verified track record and verified trading privileges. It was created on April 08, 2019, and funded at A$419.90. Since then, the absolute gain has become +100.15%. An average monthly gain is 2.61%. The maximum drawdown is 21.14 %. The trading results are tracked by 98 people.
Forex Diamond executed 3856 orders with 4801 pips. An average win is 11.11 pips when an average loss is 22.74 pips. The win rate for Long positions is 69% and 72% for Shorts. An average trade length is five hours. The Profit Factor is 1.11.
The most traded currency pair is GBPUSD, with 3312 orders and $258.98.
The robot works during the night hours mostly.
The advisor trades equally during a week. Monday (833 deals) is the most traded day.
It runs the account with medium risks to the balance. To lose 10% of the account, the robot has to lose 25 deals.
The system works without Martingale, losing quite often.
The robot is not a profitable and stable trading solution.
Although there is a Forex Diamond page on Forex Peace Army created, there are no people’s testimonials for this EA written.
Forex Diamond Review SummaryForex Diamond Review Summary
Functionality1/5 AwfullyThe system doesn’t look great and like a well-designed trading solution.
Trading strategy2/5 BadThere are three strategies on the board.
Live results1/5 AwfullyThe results are horrible.
Customer support3/5 NeutralThe support is good as usual.
User reviews1/5 AwfullyThere are no reviews from people
- Strategies explained
- Backtest report provided
- Real-account trading results provided
- No system details provided
- No risk or money management advice given
- Horrible trading results
- Lack of people testimonials