Gem Forex Diamond EA V1.0 MT5: A Comprehensive Review
Introduction
In the fast-paced world of forex trading, automation through Expert Advisors (EAs) brings consistency, speed, and emotion‑free decision‑making. The Gem Forex Diamond EA V1.0 MT5 is designed specifically for MetaTrader 5 to leverage high‑frequency scalping on gold (XAUUSD), EURUSD, and GBPUSD. Below is a reorganized examination of its key aspects, structured with clear headings and bullet points for easy reading.
What Is Gem Forex Diamond EA V1.0 MT5?
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Platform: MetaTrader 5
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Primary Focus: High‑frequency scalping on M1 (1‑minute) charts
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Supported Pairs: XAUUSD, EURUSD, GBPUSD
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Account Compatibility: ECN/RAW accounts with low spreads
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Risk Profile: Low‑risk, small‑lot trading (0.01–0.02 lots)
Key Features
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High‑Speed Scalping
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Executes multiple trades per session during peak liquidity (e.g., 06:00 – 18:00 broker time)
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Targets small, consistent gains (typically $0.50–$10 per trade)
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Conservative Risk Management
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Uses small lot sizes to protect capital
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Employs trade‑spacing and slippage controls to avoid overtrading
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No Martingale/Grid/Hedging
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Relies solely on a scalping algorithm, avoiding high‑risk strategies
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Gold Optimization
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Specially tuned for XAUUSD’s volatility
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Plug‑and‑Play Setup
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Minimal configuration required—load onto chart and go
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Fee Minimization
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Short holding times eliminate swap and commission fees
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High Win Rate
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Precise entry logic designed for low‑spread conditions
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Manual News Filter
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Users pause EA during major news events to avoid spikes
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Trading Strategy
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Timeframe & Hours:
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M1 chart, active during high‑volatility windows (e.g., 06:00–18:00)
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Trade Execution:
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Quick entries/exits capturing micro‑moves
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Typical holding time: a few minutes
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Profit Targets:
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Small fixed gains per trade ($0.50–$10)
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Risk Controls:
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Lot sizes capped at 0.01–0.02
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Trade‑spacing rules to prevent consecutive losses
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Performance & Backtesting
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Live Results:
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Advertised to double account balances rapidly, especially on gold
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Backtesting Claims:
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Steady profitability across varied market conditions
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Traders advised to conduct their own MT5 backtests with broker‑specific settings
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Installation & Setup
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Purchase & Download
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Obtain from official vendor or reputable marketplace (e.g., eafxstore.com)
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Load onto MT5
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Drag EA onto chosen chart (e.g., XAUUSD M1)
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Configure Basics
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Select currency pair; default lot settings are optimized out of the box
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Activate EA
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Ensure ECN/RAW account with low spreads for best results
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Monitor News Events
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Manually disable EA during high‑impact announcements
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Pros & Cons
Pros
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High win rate with consistent small profits
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Low‑risk approach avoiding Martingale/Grid
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Easy plug‑and‑play deployment
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Optimized for gold trading
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Minimizes swap and commission costs
Cons
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No built‑in news filter (manual intervention required)
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Limited to three currency pairs
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Sparse publicly available backtesting data
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High‑frequency style may not suit longer‑term traders
Pricing & Availability
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Price Range: $19 – $50 (one‑time purchase)
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Guarantee: Often includes a 60‑day money‑back guarantee
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Support: Free updates and vendor support for MT5 compatibility
User Reviews & Community Feedback
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Current Reviews: Limited on major platforms; claims of real‑account doubling
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Recommended Practice:
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Test on a demo account first
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Share verified results on forums like Forex Factory or Myfxbook
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Comparison with Other Scalping EAs
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Gem Forex Diamond EA vs. Forex Diamond EA
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Gem Forex Diamond: Focus on XAUUSD, EURUSD, GBPUSD; M1; conservative scalping
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Forex Diamond EA: Supports EURUSD, GBPUSD, USDCHF, USDJPY; various timeframes; may include additional strategies
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Conclusion
The Gem Forex Diamond EA V1.0 MT5 offers a straightforward, low‑risk scalping solution for traders seeking rapid, small gains—particularly in gold. Its plug‑and‑play design, focus on conservative risk management, and affordability make it attractive for both newcomers and experienced scalpers. Traders should, however, manually manage news events, verify performance with their own backtests, and consider diversification if they require exposure beyond its three supported pairs.
