EA Diamond Firms – A Review of the Automated Forex Trading Solution
EA Diamond Firms is an expert advisor (EA) for the MetaTrader 4 and 5 trading platforms that promises to help traders grow their accounts sustainably. With over 10 years of programming and trading experience, the developers claim to have created a product suitable for large accounts and investment funds.
Overview of EA Diamond Firms
According to the product page, EA Diamond Firms utilizes smart account management features to prevent accounts from “burning out”. It supposedly helps traders achieve consistent profits with minimal drawdowns through the use of intelligent algorithms.
Specific benefits touted include:
- Realistic monthly returns of 5-15%
- Low drawdown levels to protect capital
- Automatic risk management
- No over-optimization that causes curve fitting
- Free included access to a prop firm account
The developers state that EA Diamond Firms is not suitable for traders expecting only short-term profits measured in days or weeks. It also may not be ideal for those unable to stomach consecutive losses, which can naturally occur with any trading system.
Backtests and Statistics
The EA Diamond Firms product page provides backtests ranging from 1 to 15 years on various currency pairs. Most of them demonstrate consistent cumulative profits over time with drawdowns generally around 20-30%.
For example, a backtest on EURUSD starting from 2007 shows a final profit of around 900% with a max drawdown of 27%. While backtests don’t always translate perfectly to live results, these metrics appear promising.
In addition to backtests, the developers provide a link to a live signal with over 6 months of trading history. It shows a gain of around 90% at the time of writing, with a drawdown less than 15%. The report also displays monthly returns averaging 5-10%, aligning with expectations set on the sales page.
The backtests and live results indicate that EA may be capable of delivering steady profits over longer time frames. However, we must see how it continues to perform going forward.
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EA Diamond Firms Pricing
EA is available for $167 on the MetaTrader Marketplace. This includes lifetime license rights and free updates.
For the level of quality in backtests, live statistics, and features shown, this seems like a reasonable upfront cost. Some competing EAs often charge monthly subscription fees, making the one-time payment here more attractive.
One unique bonus is free access to a funded prop firm account valued at $1,000. This allows traders to test EA Diamond Firms risk-free with real capital.
Ease of Use
The developers emphasize that EA Diamond Firms requires minimal configuration to work properly. It has preset trading rules and logic that adapt dynamically to changing market conditions.
Users mainly just need to attach it to a chart in MetaTrader, input their account details, and let it trade automatically based on the internal strategies. This simplicity can benefit traders who don’t want the hassle of optimizing expert advisors and tweaking endless inputs.
For added convenience, the package includes setup guidelines, user guides, and 24/7 customer support. So assistance is available if any questions arise.
Developer Reputation
EA was created by software developer Lo Thi Mai Loan. She has over 10 years of programming expertise and extensive knowledge in building trading algorithms.
Lo Thi Mai Loan has also earned a positive reputation on Forex trading forums and the MetaTrader Marketplace. Users praise her responsiveness in providing support, fixing issues, and updating her products.
This level of support exceeds the industry average and indicates she takes customer satisfaction seriously with her software offerings.
EA Diamond Firms Verdict
In summary, EA Diamond Firms shows potential as a hands-off automated trading solution for MetaTrader. The backtests and live statistics present an intriguing profit opportunity for savvy investors:
Pros
- Reasonable one-time pricing
- Minimal configuration needed
- Dynamic algorithms adapt to changing markets
- Developer has good reputation and support
Cons
- No guarantee live profits will match backtests
- Must be willing to withstand drawdowns
- Not for traders seeking very short-term gains
For traders looking to diversify with steady set-and-forget passive income, EA Diamond Firms merits consideration. While conducting proper due diligence is still essential, the quality backtests and transparency around the live signal adds credibility.
The offered free prop firm account also allows interested users to test it risk-free with real capital. Between the features and developer reputation, EA Diamond Firms earns a rating of 4 out of 5 stars.