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Diamond Scalping EA Review – A Powerful Automated Forex Trading Solution

The Diamond Scalping EA is an expert advisor designed for the MetaTrader 4 and 5 trading platforms to trade forex automatically. This review covers everything you need to know about the Diamond Scalping EA including features, performance statistics, pros and cons, and pricing.

Diamond Scalping EA

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Overview of the Diamond Scalping EA

The Diamond Scalping EA was created by developer Lo Thi Mai Loan and combines multiple scalping strategies focused on entering trades at precise points to maximize the win rate. The entry strategies utilize price action concepts like breakouts, pullbacks, stop hunts and other techniques to identify high-probability setups.

Once in a trade, the Diamond Scalping EA uses a fixed stop loss and also trailing stops or break even stops to lock in profits as the market moves favorably. The risk management features help prevent excessive losses and instead allow profits to compound over time.

Overall, the Diamond Scalping EA aims to capture consistent small wins in the market rather than search for home run trades. This trading style allows for extremely high winning percentages, often above 80-90%, while keeping the average profit target small. The combination leads to account growth through compounding those small profits from very high accuracy trades.

Features and Benefits

Here are some of the main features and benefits of using the Diamond Scalping EA for automated trading:

  • Works on Multiple Currency Pairs – EURUSD, GBPUSD, USDJPY, USDCHF and more symbol pairs are supported
  • Customizable Trading Sessions – You can specify which hours each day the EA is allowed to trade or turn it off completely with one click
  • Risk Management Features – Stop losses, take profits, and lot sizing settings control risk on every trade
  • High Win Rate Strategy – Wins over 80-90% of trades by targeting smaller profits each trade
  • Low Drawdown – Designed to prevent account blow ups from losses
  • Detailed Statistics – Monitor all trades directly on the chart or in the account history

These capabilities make the Diamond Scalping EA flexible enough for most forex traders. Whether you want a hands-off automated solution or more active involvement configuring the settings, the EA can match your style.

Performance Statistics and Backtests

Extensive backtesting has been done on this expert advisor to validate its profitability across different time frames and currency pairs.

For example, a backtest on the H1 EURUSD chart shows:

  • Total Net Profit – $8,730
  • Win Rate – 90%
  • Profit Factor – 10.21
  • Max Drawdown – 171.80 (1.87%)

These metrics indicate the EA can deliver reliable gains without taking on excessive risk that leads to large losses. The high profit factor and win rate confirm the accuracy of the entry techniques.

Backtests don’t always translate perfectly to live results, but they help estimate the expectation over long term use.

Live Account Forward Tests

In addition to backtests, the developer provides recent forward tests conducted on live accounts with real money trades:

EURUSD H1 Results (3 Months)

  • Profit – $1,230
  • Pips – +1,276
  • Win Rate – 87%
  • Drawdown – $109

The live account tests allow us to confirm the EA can trade profitably in real market conditions, not just hypothetical backtests. The metrics match up nicely between backtesting and live trading showing consistency.

These results are for a $5,000 account, but you can scale the lot sizes to fit any size trading account.

Diamond Scalping EA Pros and Cons

Let’s summarize the main pros and cons of using this expert advisor for automated trading:

Pros

  • Proven strategy with reliable gains
  • High winning percentage leads to account growth
  • Low drawdown relative to profits
  • Customizable trading hours and risk settings
  • Automatic hands-free trading

Cons

  • MetaTrader 4 or 5 required
  • Short-term scalping style may not suit all traders
  • No crypto, stocks or other markets supported

The advantages seem to outweigh the disadvantages for forex traders looking for a stable automated solution. Just be aware that a scalping system like this performs a high volume of trades which may incur more costs and require faster broker execution speeds.

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Pricing and Purchase Options

There are a few pricing options depending on your needs:

  • 1 License – $299
  • 2 Licenses – $499
  • Unlimited License – $999

The unlimited license allows you to use the Diamond Scalping EA on an unlimited number of trading accounts without paying any extra fees. For most traders, this option provides the complete flexibility needed to scale over time.

All licenses include unlimited lifetime updates and support from the developer to stay current as changes happen in the market.

The purchase process takes place securely on the MQL5.com marketplace so you can pay conveniently with a credit card or PayPal.

Diamond Scalping EA Final Verdict

In closing, the Diamond Scalping EA brings a unique approach to forex trading automation focused on high accuracy over high profit targets. For traders looking for consistency rather than home runs, this EA is capable of delivering stable returns over the long run.

The combination of multiple scalping strategies, solid risk management, and thoughtful feature set makes this a top contender among the crowded field of forex robots. Both backtesting and live performance metrics confirm the viability of the trading logic built into the algorithm.

Overall, the Diamond Scalping EA earns high marks across the board in terms of credibility, profitability, and ease of use. With the unlimited license offering unlimited usage and full support, it brings tremendous long term value to justify the upfront cost.

The developer stands behind their product with confidence based on real account testing and buyer satisfaction. I can comfortably recommend the Diamond Scalping EA for any trader wanting to leverage the power of automation in their trading.

It has shown the capacity to turn small account balances into growing accounts over time which is an accomplishment every trader strives toward. Why not put this EA to work for you too?

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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