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Author Topic: Forex Diamond EA  (Read 231443 times)

Offline forexfish

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Re: Forex Diamond EA
« Reply #15 on: November 26, 2013, 03:38:48 AM »
Can someone tell me what they mean with "+40 Recovery Factor". I have no clue at all!

from the vendor site:
For example: If your EA earns 10,000 pips and has a 500 pips drawdown, then your EA's Recovery Factor would be 20. [10,000/500]

This is could be considered as misguiding figure. The pips earned could be over a period of 5 or 10 or 15 years. The DD can ocur at any one or all years multiple times. better would be to use average annual expected pip gain / max dd to bring out this figure  :D

if the ea makes an average of 3000 pips per year and max dd is 500, the maybe the recovery factor can be 3000/500 = 6  :P

@mikepipmaker

Thanks for your comments.

Do you have any idea, how is it different than WSFR or VF ?

I have WSFR but am not running at present, if no major difference in this than WSFR then no point to think on this ?


Offline mikepipmaker

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Re: Forex Diamond EA
« Reply #16 on: November 26, 2013, 04:27:35 AM »
@mikepipmaker

Thanks for your comments.

Do you have any idea, how is it different than WSFR or VF ?

I have WSFR but am not running at present, if no major difference in this than WSFR then no point to think on this ?

Honestly, i am as good as a newbie to wally... my first stint between 2011 to august 2012 did not go well and i had dropped it. got started again in june-july this year  after seeing the new settings do well. so far its only been seeing good success with GU pair.. EU is almost dormant. acc is up 8% since my restart in june  ;D

from what i see, it is just a guess that the new ea could be a spin off from wally..  good thing is it trades more frequently.  so that is a major diff....  the problem with wally has always been trades not matching up with vendor for me.. but that is to be expected with the scalping style ea's. I will probably wait for some feedback from friends here... would also want to see some tests run suing same setting on EU - could provide a indication if it can handle market/price actions changes  8)
No method or EA can be successfull if we keep changing the rules and be impatient.

Offline Bumblebee-

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Re: Forex Diamond EA
« Reply #17 on: November 26, 2013, 05:00:23 AM »
The reference account has approx 1.5% profit in the last 4 months.  The recent 4 months period was not good as compared to previous 4 months period ?
Also, I notice the live account started and ran for awhile with almost double the lot size. Then they lowered the lot size almost in half in June. (.15 lots for awhile, and then down to .08)

Another vendor trying to rig the average monthly profit by pumping up the starting risk?

They started trading the account on Feb 2013. If you go to the page at the upper right corner "custom analysis" set to the date start from Feb2013.
Seems they are still adjusting the setting in their live account?
One thing is that, unlike ERU33&GBP30, Forex Diamond SL are not consistent, some 45, some 70, some 90..etec
« Last Edit: November 26, 2013, 07:33:34 AM by Bumblebee- »

Offline [GooSe]

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Re: Forex Diamond EA
« Reply #18 on: November 26, 2013, 09:19:54 AM »
Can someone tell me what they mean with "+40 Recovery Factor". I have no clue at all!

from the vendor site:
For example: If your EA earns 10,000 pips and has a 500 pips drawdown, then your EA's Recovery Factor would be 20. [10,000/500]

This is could be considered as misguiding figure. The pips earned could be over a period of 5 or 10 or 15 years. The DD can ocur at any one or all years multiple times. better would be to use average annual expected pip gain / max dd to bring out this figure  :D

if the ea makes an average of 3000 pips per year and max dd is 500, the maybe the recovery factor can be 3000/500 = 6  :P

Thanks!
Strange stuff of showing almost nothing useful.

Offline compujock

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Re: Forex Diamond EA
« Reply #19 on: November 26, 2013, 02:25:40 PM »
Hmm...  I see they took the live account off their home page now.  :-)

Offline fxman

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Re: Forex Diamond EA
« Reply #20 on: November 27, 2013, 01:40:51 PM »
Forex Diamond is looking good and have a strong trading system as mentioned in their website and as the forward test showing. I wish it will not breakdown like some other EA. I think custom start date in myfxbook live account should be changed. It is creating question in mind. I think the result is still good if you change the custom date.
How the recovery 40 will be calculated? There is a answer in the site but my question is there any time factor there. If not then this recovery factor is not any special one to mention.



Offline fx.mstr

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Re: Forex Diamond EA
« Reply #21 on: November 30, 2013, 07:05:25 AM »
It seems that these multi-currency pair HFT EAs are getting more and more popular. Iprofit EA, Forex Kinetics and now Forex Diamond. The vendors seem to steal ideas from each other. Nonetheless none of them prooved to be consistently profitable.
Can someone tell me the main similarities and differences of these EAs?

It is funny to see how the history repeats itself. When one or two scalping EA becames popular all the other vendors released scalping EAs, The same happened not long ago with the so called volatility breakout or trend follower EAs after FGB became popular and now this multicurrency HFT thing comes the new thing. And I almost forgot to mention the MDP-like HFT EAs that worked well for a period of time, until the market became overhelmed with them and the big guys decided to get rid of them.

I think the main problem cames exactly when the market is getting overhelmed with similar strategies and that's when they lost their edge. Volatility breakout EAs have worked well until Robin and Pips Bag and all the other FGB copies came out. And these HFT EAs are even more vulnerable due to their execution and spread sensitivity.
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Online Anchorpoint

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Re: Forex Diamond EA
« Reply #22 on: November 30, 2013, 08:30:30 AM »
It seems that these multi-currency pair HFT EAs are getting more and more popular. Iprofit EA, Forex Kinetics and now Forex Diamond. The vendors seem to steal ideas from each other. Nonetheless none of them prooved to be consistently profitable.
Can someone tell me the main similarities and differences of these EAs?

It is funny to see how the history repeats itself. When one or two scalping EA becames popular all the other vendors released scalping EAs, The same happened not long ago with the so called volatility breakout or trend follower EAs after FGB became popular and now this multicurrency HFT thing comes the new thing. And I almost forgot to mention the MDP-like HFT EAs that worked well for a period of time, until the market became overhelmed with them and the big guys decided to get rid of them.

I think the main problem cames exactly when the market is getting overhelmed with similar strategies and that's when they lost their edge. Volatility breakout EAs have worked well until Robin and Pips Bag and all the other FGB copies came out. And these HFT EAs are even more vulnerable due to their execution and spread sensitivity.

This is not a multi currency EA. It trades GU
Anything can happen - every moment in the market is unique

Offline mikepipmaker

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Re: Forex Diamond EA
« Reply #23 on: November 30, 2013, 08:45:09 AM »
anchorpoint is right... also it trades three strategies on one pair.

iprofit trades 5  different pairs with single strategy. It is actually not making high freqency trades on any particulr pair like what fx diamond does... but the total number of trades over five pairs make it look like it is trading like a hft system  :P

i would like to see how fx diamond does on EU pair.. would give some idea about what the stategy is going to see in future  :-\

I think the trem hft is more relative. For a manual trader like mw 20 trades a week is a lot. Robin vol, in good days can easily make 20 odd trades a week. mdb can also do that. I think it is more to do with style of trading rather than actual number of trades  :D
No method or EA can be successfull if we keep changing the rules and be impatient.

Offline fx.mstr

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Re: Forex Diamond EA
« Reply #24 on: November 30, 2013, 01:13:38 PM »
It seems that these multi-currency pair HFT EAs are getting more and more popular. Iprofit EA, Forex Kinetics and now Forex Diamond. The vendors seem to steal ideas from each other. Nonetheless none of them prooved to be consistently profitable.
Can someone tell me the main similarities and differences of these EAs?

It is funny to see how the history repeats itself. When one or two scalping EA becames popular all the other vendors released scalping EAs, The same happened not long ago with the so called volatility breakout or trend follower EAs after FGB became popular and now this multicurrency HFT thing comes the new thing. And I almost forgot to mention the MDP-like HFT EAs that worked well for a period of time, until the market became overhelmed with them and the big guys decided to get rid of them.

I think the main problem cames exactly when the market is getting overhelmed with similar strategies and that's when they lost their edge. Volatility breakout EAs have worked well until Robin and Pips Bag and all the other FGB copies came out. And these HFT EAs are even more vulnerable due to their execution and spread sensitivity.

This is not a multi currency EA. It trades GU

I am sure of that they have mentioned 4 pairs in their FAQ when I have checked it first. Now there is only GBPUSD there. Interesting.
Another thing that a little bit bothers me concerning this vendor is that once I asked them whether they are the vendor of Forex Combo Systems as well because the website of Wally and Combo look very similar and they denied any connecton, but I konw that for fact they are behind Combo as well. Why did they deny it then?
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Offline mikepipmaker

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Re: Forex Diamond EA
« Reply #25 on: November 30, 2013, 02:59:41 PM »
could be... combo evolving into wally... and then diamond...   but there is only more speculation that we can do about all these.

i guess it becomes more about a game of change and trust vendor and your judgement/luck....  ::)
No method or EA can be successfull if we keep changing the rules and be impatient.

Offline fx.mstr

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Re: Forex Diamond EA
« Reply #26 on: December 01, 2013, 06:31:56 AM »
could be... combo evolving into wally... and then diamond...   but there is only more speculation that we can do about all these.

i guess it becomes more about a game of change and trust vendor and your judgement/luck....  ::)

Yes, it is more about the trust of the vendor. Actually I do not use any of their 4 EAs but it is partly due to the lack of trust and the performance is just the other half of the whole. If a vendor is not honest I do not really care how well his product performs. Maybe the problem is with me as I try to understand things and it bothers me that I do not know why they denied the connection between Combo and Wally. Even their websites are almost identical.
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Offline phoebus

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Re: Forex Diamond EA
« Reply #27 on: December 01, 2013, 09:45:54 AM »
Could you share with us, which EA vendors do you trust? By my opinion only the live results maters, all other is BS talks.

Offline mikepipmaker

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Re: Forex Diamond EA
« Reply #28 on: December 01, 2013, 11:00:24 AM »
Could you share with us, which EA vendors do you trust? By my opinion only the live results maters, all other is BS talks.

I think each person would have their own personal level of trust on each vendor. Some you trust, some you are always doubtful about and then there will be some who you would be convinced as scam the minute you hear/see them for first time. It would be tough to make a logical/numerical check sheet for this - but not impossible.

I also agree that live results are the only one that matters.... But consider this  ;)

As an extreme case study.... if we considered making a decision in mid-August based only on live results:

Trusted vendor would be Kings EA : till it blew account later on
http://www.myfxbook.com/members/my_ea/king-ea/639937

Not trusted vendor would be Robin : Since was in DD during the same period.
http://www.myfxbook.com/members/fmonera/robin-vol-official-axi/602706

Obviously the opposite would be true. It was just matter of luck (for the innocent trusting traders) that kings ea blew in a months time.. it could have gone on upwards very easily for 3 or maybe even 6 months sucking in more and more traders into "black hole"... but the blow out would be inevitable.

The thing here is NOT about the strategy or loss or blow out...  but the way the vendor projects their product, support and honesty.

kings ea for example, is known to have been a serial "seller". If he was very lucky, the live test could have gone great for another couple of months and he would be the greatest guru trader and vendor of all time.

FGB inspite of being a good product and having a good live performance for almost 2 years would not qualify as a trusted vendor - mainly due to lack of support/bad quality of product and no development, proper information or confidence provided by vendor  >:(

and then there are vendors like BBEA and Forex pip bag who have a great presense here until worst case happens and they disappear  :(

My personal list of trusted vendors is : phibase, robinvol, wall street, Spider (a trader basically - not the best of developers so give him a long leash), Wildfire and a few more like these  :-[

It is a different matter if I run or track the ea's made by my trusted vendor list - this will only depend how comfortable i am with the strategy. But since it is from my trusted list - I can leave all the other aspects like short term live performance proof, refund schemes, price, validity of backtest, hype/no hype on website. etc.  I just concentrate on the strategy and see if it is going make sense for me investing the EA cost + max dd seen in back test  8)

Decision making is made simpler.  at least this is how we manage factory floor andinventory, supplies, etc. Vendors and work force are pre-screened, trained and trusted. It is easy to pick up what you want when you need it  ;)  after all a ea is nothing but a trained worker who can do a certain task in a way he is been trained to do. If we put a plumber in a electrical job he is likely to burn up the place  ;D   
No method or EA can be successfull if we keep changing the rules and be impatient.

Offline fx.mstr

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Re: Forex Diamond EA
« Reply #29 on: December 01, 2013, 11:42:58 AM »
Could you share with us, which EA vendors do you trust? By my opinion only the live results maters, all other is BS talks.

The honest ones. From my point of view money is not everything. It is important but not everything. Would you trust anyone you caught on lie?
By the way does it really matter how many EAs belong to him? Why does he feel the need to lie about it?
If the EAs are profitable it brings him more reputation if the public knows they belong to him. In this case there is no point to lie about it.

Another example: Kangaroo EA. It is one of the most profitable commercial EA but the vendors are banned from DF forum because they were dishonest and tried to fool the forum members here. Donna banned them regardless of the performance of their EA. That's why I respect her big time. Because not only the "money talks".
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