what is Forex Diamond EA? + pros and cons review about diamond

Forex Diamond EA is a popular trading expert advisor in the Forex market. It guarantees a full refund within 60 days if you are not satisfied with its performance. The robot is the outcome of over a thousand hours of research on diverse trading strategies in the Forex market. To learn more about the Forex Diamond expert advisor, continue to read on.

what is Forex Diamond EA?

The Diamond expert is an important trading expert advisor in the Forex market that specializes in trading the EUR/USD and GBP/USD pairs. It uses the Trend-Retrace signal strategy within the 15-minute time frame. According to the available live trading graphs on MyFxbook, this expert advisor has an average annual profit of about 63%. If you are interested in getting more information about the forex robot, we suggest you read the article “What is a forex robot?”.

Forex Diamond EA combines trend and anti-trend strategies with intelligent money management, dynamic trading parameter settings, and fast execution to achieve profitability. Also, Express Advice provide one of the best trading robots which id called Alpine.

How to Install Forex Diamond expert advisor

If you want to install the Forex Diamond EA trading robot, you can use either MetaTrader 4 or 5.

The installation process consists of five simple steps, which we will explain in detail below:

1. Download the purchased file and extract it from the zip archive.
2. Open your MetaTrader platform and click on “File.” Then, select “Open Data Folder” (as shown in the picture).
3.  A new window will appear, displaying the path to your MetaTrader expert section. Click on “MQL” and go to the “Expert” folder.
4. Copy and paste your downloaded robot file into the “Expert” folder.
5. Close and reopen your MetaTrader platform and the robot should be ready to use.

Best Trading Session to Use Forex Diamond EA

To get the best results from the Forex Diamond robot, it is recommended to use it during the London and New York trading sessions. This robot mainly focuses on scalping trades on GBP/USD and EUR/USD pairs. You can start running it on these symbols from 10:30 a.m. Tehran time when the London market opens and continues until 00:30 am Tehran time when the New York market closes for the day.

Best trading Symbols for Forex Diamond EA

Forex Diamond robot can be activated on any currency pair, but its optimal performance is observed on EUR/USD and GBP/USD trading symbols. To ensure profitable trading without any concerns, it is advisable to use this robot only on these two currency pairs.

Best Time Frame for Forex Diamond EA

The Forex Diamond robot uses settings specifically designed for the 15-minute time frame. It is recommended to keep this setting as the robot is a scalper that focuses on safe trades.

Forex Diamond expert advisor Performance

In general, the Forex Diamond robot has achieved a 66% annual profit.

However, your profit will depend on various factors such as risk tolerance, account balance, and settings if you decide to use this robot. Also, if you are looking for a reputable robot, Alpine is one of the best.

Forex Diamond EA Trading Strategy

The Forex Diamond trading expert advisor employs three distinct strategies for its trades, which will be elucidated below:

1.  The main strategy
2. Counter trend
3. Fast scalping

The main strategy is designed to trade both trends and corrections simultaneously during a trading trend.

The second strategy is called the Counter Trend strategy, which is employed when a potential trend change occurs. If an opportunity arises, the Forex Diamond EA dynamically adjusts its trading parameters to maximize the potential profit of each trade.

Lastly, Diamond has a fast scalping trading method that aims to take advantage of low spreads in a trading symbol for a quick trade. You can choose which trading strategy to use when you run the robot.

Advantages and Disadvantages of Forex Diamond Robot

It can be said that the Forex Diamond robot is the best among the few reliable robots in the Forex market. However, like any other tool, it comes with its own set of advantages and disadvantages. Here are some of the benefits:

• The robot has a live statement on MyFxbook, which provides transparency in trading activities.
• It offers three trading methods, which increase the chances of making profitable trades.
• The robot operates 24/5, which means it can trade round the clock on weekdays.

There are some disadvantages to using the Forex Diamond expert advisor that is worth considering.

• Firstly, the robot is quite expensive, which may put it out of reach for some potential users.
• Additionally, the lack of updates and support can be frustrating for those who invest in the robot.
• It’s worth noting that some nations may not be able to return the robot if they are not satisfied, and they may not receive new updates as they become available.
• Despite its high quality, these limitations should be taken into account before making a decision to purchase the Forex Diamond robot.

What is the best Alternative for a Diamond Forex EA?

Those users who can’t afford the heavy price of Forex Diamond are able to use the available plans of Alpine EA according to their investment aims. You can experience 50% efficiency by purchasing Forex robots.

Express Advice, as a professional company, provides the best trading robot or Expert Advisor, Alpine EA, which has reasonable prices. One of the great pluses of the Alpine EA is the reliable support team that guides step by step through the whole process. There are other robots in the forex market that perform better than the forex diamond EA. Check the “buy forex EA” page to see the specifications of robots like the Alpine Robot

What we read in the Forex Diamond EA review

As we read in the review of Forex Diamond EA, this Expert Advisor is one the best available in the Forex market that uses three simulation trading strategies for executing its trades and tries to use its best strategy based on the situation of the market. Also, you can see the online results and statements on the reference page on MyFXBook website.

This robot executes its trades in 15-minute time frames on GBP/USD and EUR/USD, and it is claimed that the success rate of this robot is 63%. Also, as the price of a Forex signal robot is much more expensive, we suggest you have a look at Alpine EA plans arranged based on your goals.