Forex Diamond Review

⭐ FOREX DIAMOND REVIEW

FOREX DIAMOND REVIEW SUMMARY

Foreign Exchange Robot: Forex Diamond

Software Programmer:  WallStreet Forex Team

Scalping: Scalping 4 pairs in the M15 Timeframe

Forex Pairs: EUR/USD, GBP/USD, USD/CHF, USD/JPY

Trading Platform: MetaTrader-4

License: 1 Real Account License / Demo Accounts / Lifetime updates

Pricing: 218 USD

» Forex Diamond Website

📋 INTRODUCTION TO FOREX DIAMOND

The Forex Diamond is a fully automated Forex software designed to trade four Forex pairs {EUR/USD, GBP/USD, USD/CHF, USD/JPY} on the M15 chart. It can handle any market conditions (trends and reversals) by adapting automatically without manual settings, and includes multiple automated filters to protect the trader’s account (spread, slippage, etc.). The robot was developed by the WallStreet Forex team in 2003.

The minimum requirements for the Expert Advisor to function properly are a PC with a 1.5 GHz CPU, at least 1 GB of RAM, and an operating system of XP, Vista, Windows 7, Windows 8, or Windows 10.

The purchased Expert Advisor package includes:

(a) Install Wizard

(b) Quick Guide

(c) Tutorials via the Member’s Area

(d) Lifetime updates

Support is available via email, with responses typically provided within one business day.

⚙️ FOREX DIAMOND ALGORITMH

🔧 FOREX DIAMOND TRADING PARAMETERS

Forex Diamond Basic Settings 

• Backtest_GMT_Offset -important for back-testing the Expert Advisor (note that in real trading conditions, the EA sets the time automatically according to your broker’s server time)
• UseCustomPair (true/false) – by changing this parameter to TRUE, traders can use Forex Diamond on any Forex pair beyond the 4 supported currency pairs (supported pairs are EURUSD, GBPUSD, USDJPY and USDCHF)
• MaxSpread – sets the maximum spread that the Expert Advisor is allowed to trade (in standard 4 digit pips, partial values are also an option).
• Slippage - sets the maximum slippage that the Expert Advisor is allowed to trade (in standard 4 digit pips, partial values are also an option).
• StealthMode (true/false) - in this mode the take profit and stop-loss orders can be hidden from your Forex broker
• No_Hedge (true/false) – if TRUE then all hedge trades are canceled
• Max_Orders_Total – defines the maximum permitted number of open trades (at the same time)
• RecoveryMode_1(2,3) (true/false) – if the RecoveryMode is TRUE then the Forex Diamond tries to recover the current drawdown by smoothly increasing trading volumes
• ExecuteOnEveryTick (true/false) - the Expert Advisor is programmed to calculate signals in one-minute-bar basis, if TRUE this parameter allows signal calculation and execution on every tick
• ReverseProfit –means a minimum pips profit in which the position will be closed if the price indicates a reversal, note that the default ReverseProfit value of the Expert Advisor is zero
• Use_Trend_Filter (true/false) – if TRUE the trend filter can increase the Profit Factor at the expense of trading frequency
• Trend_Strenght – the minimum distance (in pips) between the price and the trend indicator, below which trades will not be taken
•  MondayStartHour – the Expert Advisor will start openning positions after this hour during Mondays
•  FridayExit (true/false) - if TRUE the limits Forex Diamond’s trading during Fridays
•  ExitHour - the Expert Advisor will close all positions at this time during Fridays

The developers of Forex Diamond recommend the following:

1. Apply the Expert Advisor on a demo account before trading with real money (Forex Diamond offers unlimited demos).
   
2. Be cautious when setting trading volumes and automatic risk management parameters.
   
3. If users suspect the Expert Advisor is operating incorrectly, they should contact help desk support immediately (responses within one business day).
   

» Forex Diamond Website

✅ FOREX DIAMOND REVIEW PROS

◘ Forex Diamond provides protection against high spreads and high slippage.

◘ It can be optimized automatically without manual settings.

◘ Includes trailing stops for profit protection.

◘ Capable of trading in any market conditions.

◘ Incorporates a special algorithm to trade highly volatile markets.

◘ Allows starting with $100 (though programmers recommend $1,000).

◘ Executes an average of 3 trades per day.

❌ FOREX DIAMOND REVIEW CONS

◘ It is a little bit expensive

💭 FOREX DIAMOND REVIEW CONCLUSIONS

The Forex Diamond Expert Advisor offers many innovative features and frequent trading through three independent trading systems. Thanks to its ability to automate settings, it is suitable for Forex traders of all experience levels. According to its programmers, Forex Diamond has a recovery factor of over 40, meaning it can gain 40 pips for every 1 pip lost. A single license costs $218 and includes one real account, demo accounts, and lifetime free updates. Traders can also purchase a full license, which covers two real accounts and is priced higher.

» Visit the Forex Diamond

◙ FOREX DIAMOND REVIEW

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