Forex Diamond Robot Review
Forex Robot: Forex Diamond
Trading Style: Scalping GBPUSD, EURUSD, USDCHF, USDJPY
NFA Compliance: Yes (Settings)
Forex Diamond Review
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 the Forex Diamond Expert Advisor Robot Works?
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 Strategy
Forex Diamond Expert Advisor incorporates multiple Trading Strategies with the following characteristics:
1) Identifying and Trades both Trend & 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
Trend / Retrace Algorithm is designed to identify take advantage of strong trends via a great number of parameters.
(b) Countertrend Algorithm
Countertrend Algorithm is designed to trade trend reversals.
(c) Countertrend Scalping Algorithm
Countertrend Scalping Algorithm is designed as a scalping machine for volatile markets. High leveraged trades.
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 nice when back-tested but most Expert Advisors are doing nice when turned backwards. The system is new (2013) so only time shall tell if the system is such a high performer.
In the following chart we can see the prformance of the Forex Diamond Robot on GBPUSD (Alpari Account Every-Tick) during 2012.09.03 - 2013.08.30.
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 Algoritmh
7) Self-Adjusting Parameters (No need for High Manual Optimization)
8) Trade with as little as $100 (The developers recommend $1,000+)
What you will receive:
Forex Diamond owners manual pdf
Forex Diamond v4 ex4