FX Automater is a well-known company among Forex traders. It introduced a Forex Diamond robot and insisted that it’s brilliant and profitable like a diamond solution.
Forex Diamond: To Trust or Not to Trust?
- The robot has three strategies on the board.
- There are Trend and Counter-trend strategies to get profits from market moves.
- The scalping strategy is executed during trading the counter-trend strategy.
- The robot is compatible with MT4 and MT5 terminals.
- There’s a dynamic trading logic.
- It supports four pairs to trade.
- The system is based on a self-updated algorithm.
- The robot opens trade frequently, using margin all the way.
- The system calculates dynamic SL and TP levels.
- There are over forty recovery factors.
- It has protections from high slippages and from opening deals during high spreads periods.
- The system protects the gained profits (probably Trailing Stop Loss).
- The system checks consistently open trades to be sure that they get optimal profits.
- The EA doesn’t require any further optimizations and can be attached to the chart with default settings.
- We’ll be allowed to get access to the member area.
We can get a copy of a product with 50% OFF for over a day.
The vendor sells the EA through ClickBank, so there’d not be issues with a money-back guarantee. The pack costs $147. Buying it, we’ll get on license for a real account, advanced news filter, several (how many?) demo accounts, and a 60-day money-back guarantee.
There’s also support, access to a member area, user manual, free updates, and upgrades.
Verified Trading Results
The presentation includes seven backtest reports with different pairs and Lot Sizes. This one showed a good win-rate (78.10%) on GBP/USD for nineteen years. The maximum drawdown was incredibly low – 2.54%. The Profit Factor was low, as for a backtest, as well.
This one was a USD/JPY backtest for the same period. Win-rate was the same – 77.37%. The Profit Factor (1.51) and maximum drawdown (2.69%) were the same too.
There’s a real AUD account on IC Markets. The robot trades automatically with 1:500 leverage on the MetaTrader 4 platform. An account was created on April 08, 2019, and funded at A$419. Since then, the absolute gain has become +122.98%. An average monthly gain is +4.03%.
The robot trades with a little maximum drawdown (8.36%).
From the end of December 2019, and until the beginning of June 2020, the EA experienced consistent and long-term drawdown periods.
The robot has closed 3068 deals with 5136 pips. An average win (11.12 pips) is twice fewer than an average loss (-22.16 pips). The win-rate for Longs is 69%, for Shorts – 73%. An average trade length is over five minutes. The Profit Factor is 1.17.
The most traded pair was GBP/USD with 2589 deals compared to 579 deals on USD/JPY.
The robot focuses on trading when the market is flat, and there’s not much liquidity in trading.
Monday and Fridays are a bit ahead by open trades.
It works with medium risks to the account balance. For losing 10% of the account, there’d be 27 lost deals in a row.
As we can see, the robot practices opening Grid trades. This doesn’t help so much in being profitable.
Results in 2020 look unstable and unpredictable.
The real account has a verified track record. So, we can be sure there are no removed parts of trading activity in the past.
We can even see open trades that are in a drawdown period.
Testimonials and mentions
There’s a page on Forex Peace Army, but no comments are provided by thankful or angry clients. The presentation doesn’t include people’s testimonials as well.