Forex Diamond

[Matt]

Hi Everyone,

This is to discuss the Forex Diamond robot, parameters and results to see if we can all profit from it and lift everyone up.

Set files can be shared, but please test them first. Your account is your responsibility.
The set files are not recommendations, just sharing our best results so far. Past results do not indicate future returns.

Let’s go!

[paul4x]

i am a bit confused on the use custome pair values, i am running gbpusd and eurusd, but it appears EURUSD started copying the trades placed from gbpusd.

The use custome pair value was set to false, so now i have changed to TRUE to see if that mixes it up as i thought the bot would place trades differently for each pair?

[paul4x]

do we have a set file for this EA?

[J Lone]

I got this a moment ago….

I realised all the pairs I can only use the GBPUSD settings in the EA proper

Default risk level is low.

I don;t seem to find a setting that changes it to moderate risk (as per Petco youtube video).

 

[Alan Northam]

Hi J Lone,

To change the next higher level of risk just double the lot size.

Alan,

[paul4x]

i hvae tried to change the lot size to a higher amount, however it seems set at 0.03, cant go any higher, tried a 0.1 lot size but kept opening new trades at 0.03?

 

[Alan Northam]

Hi paul4x,

Did you click on the OK button?

Alan,

[Matt]

Hi Paul4x,

I’m curious, why you’re using EurUsd, when GbpUsd and UsdJpy are recommended?

The EurUsd and GBPUsd are closely related, so makes sense that the same bot would take similar trades on those 2 currencies.

I believe the UseCustomPair setting at False is the default. Have you performed much backtesting for the EurUsd?

Or have you read the setup guide for the robot?

Let us know how you go with the TRUE CustomPair setting. If it’s better, I know I’d love to know.

 

Warmly
Matt

[Matt]

As per the lot sizes gentlemen, if there’s a value above 0 in the AutoMM_ … setting, like 1, I believe that’s 1% risk. And that will override your lot size entry value.

So if you want to only trade a specified lot size, make sure AutoMM is 0.

 

[Matt]

ALSO, the developer and myself noticed the 20202 system was not profitable, so we’ve changed that “Signal_2” to FALSE.

Which means just 10101 and 30303 are trading.

I hope that helps.

Let me know if you’ve noticed anything different.

Trade safe.

Happy Trading.

[J Lone]

Last week till just now, have been suffering quite a bit of losses from USDJPY. Is this due to signal 2?

[paul4x]

same here for me on usdjpy, also if you look at fxd myfxbook for the usdjpy pair its fown 4%. I am just using the system 1 from now on.

[paul4x]

its in the download PDF:

Forex Diamond supports GBPUSD, EURUSD, USDJPY and USDCHF currency
pairs. All four currency pairs show very good backtest performance. However,
for optimal performance, we recommend to trade on these 2 pairs: GBPUSD,
EURUSD.

[J Lone]

I have totally removed USD JPY from trading with this EA.  From last week experience…. I felt the EA should incorporate a rest period when it ecnounters a certain number of  consecutive SLs happened. UJ was a disaster last week when both buys and sells layers ends up in SLs. Caused pretty bad damage.

[Matt]

Hi J Lone, this might be from Signal 2. Check your comments in the closed trades tab. That should tell you. or perhaps your fxblue tracking to see the analysis for each Magic number.

[Author]

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