Forex Diamond Robot Review
- Robot: Forex Diamond
- Trading Style: Scalping GBPUSD, EURUSD, USDCHF, USDJPY
- Platform: MetaTrader4
- NFA Compliance: Yes (Settings)
- Cost: $267 (free lifetime updates)
Introduction to Forex Diamond
Forex Diamond is an Expert Advisor designed to trade GBPUSD but also three more pairs EURUSD, USDCHF, and USDJPY. The time frame is 15-Minutes. The system is programmed by the developers of Forex Wallstreet EA and it was launched in late 2013.
How does the Forex Diamond Expert Advisor Robot work?
Forex Diamond is a Forex Robot combining multiple strategies to take advantage of completely different market conditions. The EA executes 3 daily trades on average. The system can be optimized automatically and there is no need for manual settings as in the case of other Expert Advisors.
Forex Diamond Automated Strategy
Forex Diamond Expert Advisor incorporates multiple Trading Strategies with the following characteristics:
1) Identifying and Trades both Trends & Reversals
2) Spread and Slippage Protection
3) Dynamic Taking-Profit and Stop-Loss
4) Protecting Profits via Trailing-Stops
5) Based on Self-Adapting Algorithms
Forex Diamond Algorithm
The Expert Advisor uses 3 different algorithms
(a) Trend / Retrace Algorithm
The trend / Retrace Algorithm is designed to identify and take advantage of strong trends via a great number of parameters.
(b) Countertrend Algorithm
The countertrend Algorithm is designed to trade trend reversals.
(c) Countertrend Scalping Algorithm
The countertrend Scalping Algorithm is designed as a scalping machine for volatile markets. High leveraged trades.
Forex Diamond Package
The Forex Diamond Package consists of the main Expert Advisor which may be used for 1 Real Account and Unlimited Demo Accounts.
(i) Quick Installation Wizard
(ii) Quick Strategy Guide
(iii) Access to Members Area (Contact & Tutorials)
(iv) Life-Time Updates
Help Desk Support is offered by the developing team, they try to follow up on all questions via email within a single business day.
Forex Diamond Past Performance
According to the developers, the Forex Diamond can show a recovery factor of 40. That means that for every 10 pips loss it creates 400 pips of gains. The system may perform nicely when back-tested but most Expert Advisors are doing nicely when turned backward. The system is new (2013) so only time shall tell if the system is such a high performer.
Forex Diamond Review Key Points
Here are some key points of the Forex Diamond Review:
1) Combines multiple Strategies to Trade Trends & Reversals
2) Trading exclusively 4 Currency Pairs (15-Minute Time frame)
3) Focus on Money Management
4) Profit Protection via Trailing-Stops
5) Spread and Slippage Protection
6) Frequent Trading / Scalping Algorithm
7) Self-Adjusting Parameters (No need for High Manual Optimization)
8) Trade with as little as $100 (The developers recommend $1,000+)
How much does Forex Diamond Costs?
Forex Diamond Expert Advisor costs $267 (one-time). Free future updates are included. The Forex Robot can be used in 1 live Forex Account and Unlimited Demo Accounts.
■ Forex Diamond Review