Diamond AI Review

Jan 4, 2022 09:44 AM ET
Diamond AI Review

Diamond AI operates using machine learning and is developed by a team with more than ten years of experience in coding and development. The robot uses a fixed stop loss with each trade and requires a hedging account to trade the markets. 

The developers present the EA on the MQL 5 marketplace, where all the information is included under a single webpage. There are no headings that separate texts, making the presentation hard to follow.

Diamond AI Strategy

Type

Fully-automated EA

Price

$299

Strategy

N/A 

Compatible Platforms

MetaTrader 4 and 5

Currency Pairs

EURUSD

Timeframe

H1

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

The developer states that the algorithm trades on EURUSD and other currencies with a fixed stop loss and take profit for each position. It does not use martingale strategy. From the history of MQL 5 records, we can observe that the system has huge losses and small profits. It holds trades for an average duration of 12 hours which conforms to a day trading strategy in use. There is an increase in lot size in some trades.

Trading curve.

How does the EA work?

Traders can install the robot in the following steps:

  1. Purchase the system from the developer on the MQL 5 website
  2. Login on the MQL 5 marketplace at the Metatrader platform
  3. Attach the EA onto the charts to start trading

Features

The robot has the following features:

  • It does not use dangerous martingale or grid strategies
  • Traders can adjust the trade direction
  • It has money management functions
  • Trading hours are configurable

There are multiple reviews present at the MQL 5 marketplace where one of the traders says that the strategy used by the robot is wrong. It buys at the top and sells at the bottom.

Customer review.

Backtest data analysis

Backtesting results are available for EURUSD for an unknown period. For the duration, the robot had a maximum drawdown of 18.49% and turned an initial deposit of $1000 into $452655.43. It had a winning rate of 76.81% with a 2.22 profit factor. The average amount of profitable trades was $264.24, while the average amount of losing deals was -$393.52. There were a total of 4053 trades executed during this period.

Backtesting records.

Live trading data analysis

We have live records present on MQL 5 marketplace. The performance records are from November 29, 2021, till the current date. 

The system made an average monthly gain of around 0.1%, with a drawdown of 0.4%. The winning rate stood at 68.18%, with a profit factor of 1.22. The best and worst trades are $20 and -$48.34. 

The developer trades on a huge deposit of around $30000 and uses minimal lot sizes. In a total of 22 trades, the system had a total gain of 0%.

Live records.

Diamond AI Strategy

MQL 5 Account

Live (USD), RoboForex

Started

November 28, 2021

Deposit

$6624

Balance

$28738.82

Gain

0%

Daily

0%

Monthly

0.1%%

Drawdown

0.4%

Profitability

1.22

Vendor transparency

Marcin Zygala is the author of the product. He has a total rating of 5 based on 11 reviews on MQL5. According to the website, the developer has no market experience and has 2 products with 1 signal in his portfolio. 

Review summary

Pros

  • Multiple settings that can be tweaked

Cons

  • There is not enough transparency on the strategy

  • No detailed backtesting

  • The system uses a big stop loss

Diamond AI is live for a short duration which is not enough to gauge profitability. There is no information on the strategy, and the backtesting records are unclear. To see if the EA is good enough, we will have to wait and see its performance in the future. 

Rating: 6/10


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