MyFxBots In-Depth Review of Forex Diamond v6.1 (MT4) / 6.3 (MT5): Strategy Analysis, Backtests, & Live Trading Results

The EA implements 3 advanced market domination strategies; a combination of trend and counter-trend strategies, smart money-management, dynamic trading parameter configurations, and rapid trade execution.

Forex Diamond is designed to trade with 3 proven market domination algorithms packed together:

Secure After-Retracement Strategy

Forex Diamond systematically filter and implement profitable trades using its Trend-Retrace Signal Strategy. With self-possession, the algorithm applies well-scrutinized trading parameters to make profits from the market trend while sheltering your gains.

Secure Counter-trend Strategy

Forex Diamond monitors the market for potential trend reversals using its Counter-trend Strategy once an opportunity is at target, Forex Diamond sets its trading parameters to maximize the profit from that trade.

This strategy allows profiting even in special market conditions.

Aggressive Counter-trend Scalping Strategy

Forex Diamond delicately and rapidly raises executed trades small spread using its Countertrend Scalping Strategy. It can fit even the most volatile markets by fast adjusting your trading parameters through its dynamic trading system.

40+ Recovery Factor

The recovery factor is what determines the EA ability to earn more compared to its losses, simply it equals the pip net profit divided by pip drawdown, for example, if an EA earns 20,000 pips with a drawdown of 1,000 pips, then its recovery factor would be (20,000/1,000 = 20) and this is deemed very profitable, and such EA is expected to be using a very good trading strategy.

Forex Diamond authors stated that the EA can earn 40x more money than it loses, which means that its recovery factor can reach 40.

However, you always have the choice to run the EA on a single, choose the best couple according to your insight, or let it combine all of them.

You should take into consideration that the results will vary after the size of your account, your distaste to risk, outside market factors, and your overall strategy.

Rapid Market Impulse Trading Levels

Forex Diamond automatically draws advantages of market volatility movement and brings it to the benefit of your trades, you can configure every trade after your trading strategy, or it can be automatically set guided by the current trading rules.

Optimal Money-Management

Forex Diamond automatically follows your open positions up and determines the optimal profit levels at which each trade is closed out.

High-Frequency Trading

More than 1,200 trades can be executed per year through Forex Diamond trading algorithms.

High Slippage Protection

Slippage is the most profit reducing factor and is a result of faulty EAs that can't calculate and execute trades at the optimum time, and this is frequent during high volatility trading sessions with rapid market reversals and price vicissitudes.

Forex Diamond greatly minimizes the chances for slippage by executing trades quickly at the right moment

Spread Protection

A good spread trading opportunity can vanish in moments or may even turn into a loss if your EA didn't execute the trade immediately, this is most prominent in highly volatile markets.

Forex Diamond doesn't need your intervention to dynamically calculate the correct trading parameters and execute a trade, locking in your profits and gaining even from the quickest spread opportunities.

Profit Protection

Forex Diamond applies the maximum protection to your profits by combining high slippage protection, spread protection, and a special trading logic, each of which is sufficient to cover the desired protection while a triple combination of them is ensuring the highest level of protection.

Self-updating

The market condition changes are a trigger and a guide for Forex Diamond update system, it automatically accommodates these constantly successive fluctuations.

Forex Diamond proves that it's a promising Forex robot and to be a consistent, reliable, profit making machine.

BUT

Let not one that says it's there an EA that can double your money in a week, or can make you a millionaire in a month, these are just marketing stuff to fool those who wish get rich-quick without mind realization and making the right decision.