In this post, we review a rule-based trading robot known as 1000 Pip Climber. The developers call it a robot with an “easy way to stress free signals”. They also state that they reliably targeted 20,000 pips over a span of 3 years.
We analyze if the trading strategy of this EA is solid. We look at some results, backtests as well as real money accounts. Finally, we give a verdict on this robot.
What is 1000 Pip Climber?
1000 Pip Climber EA is based on the foundation of 1000 Pip Climber System. The robot is capable of automatically opening trades based on new signal. It checks all charts for a new signal. When the signal is detected, the robot automatically opens a pending order with your settings. Traders do not have to open trades mechanically.
This EA uses an advanced algorithm to monitor trading activities. It limits aggressive trading, which presents a high risk of loss. Moreso, it is built with clear exit rules.
The currency pairs traded by this robot include EURUSD, EURJPY, AUDUSD, USDCAD, USDJPY, USDCHF. It operates on the M15, H1, H4 timeframes.
- Closing a part of the trade at Take Profit 1 and Take Profit 2.
- Tracking the StopLoss to break even and take to Take Profit 1.
- To minimize possible losses and hedge the profit.
- Trailing Stop with corresponding steps: The Stop-loss will always trail when a step is reached to reduce the loss rate. In the profit area, the profit will automatically hedge.
- Determining the trading times. When should the EA execute a trade? You can define this for several days with different start and stop times. Orders are only placed at the allowed time.
This robot is priced at $97 for the signal system. However, with an expert advisor addon, the EA will cost you back €89 with an additional €10 settings cost.
Let’s review some stats for this EA. We will also check customer reviews to determine if this robot is legit.
1000 Pip Climber Review
Backtests and real money accounts typically give a good indication of the performance of a forex robot. However, the developers of this EA have not provided this data. What they have on the website is a chart with performance data. It shows the EA already at Takeprofit 3, meaning it can gain profit consistently. However, we cannot verify the authenticity of this data.
The real account is a Euro account set up with the GKFX broker. The leverage is 1:10.
Data from Myfxbook show that monthly growth stood in the negative territory at -15.9%. The overall gain stands at -46.5%. From an initial deposit of €2,575, the EA made a net loss of €286.
Out of the 549 trades, this EA won 316 of them, representing a 58% win rate. The profit factor stands at 0.79 with an average trade length of 6h 39m.
Out of 1131 pips, the average win is 22.3 pips (€3.4) while the average loss is -26.25 pips (€5.93). The risk of ruin for this account stands at over 90% which we consider dangerous.
Monthly data analysis shows the same results. The EA lost in devastating fashion in 3 out of the 5 months. The data shown is for 2020. We believe that the owner of this account simply abandoned it after a string of poor results.
This performance is simply terrible. If you look closely, the creator of the live account has already withdrawn their money. We hope the owner of this EA relooks at the settings of this real account.
User feedback: 1000 Pip climber
We also checked for user reviews from reputable sources. We noted that a majority of the traders were happy with this product. Compared to the results we just analyzed, the user feedback is totally different. The EA receives excellent feedback.
So we also dug around for other reviews from another reputable site – Trust Pilot. User show strong confidence in this EA. The overall rating is 4.3 out of 5.
This EA was first launched in 2016. However, we do not have enough information about the team behind this EA. However, ClickBank, a Delaware based company retails the EA. The head trader Bob James, a professional trader with with a decade of experience.
We always love it when we get the background information. It provides a boost of confidence to prospective traders. With background information, you can easily determine the seriousness of the team behind this EA.
From our analysis, this EA sheds out mixed signals. On one hand, user reviews are above average. However, Real accounts are dismal.
We believe that forex beginners should not try this EA. It seems like there is a lot is happening behind the scenes which we do not understand fully.
This EA came about as a result of the 1000 Pip climber system. It utilizes a rule-based system. It enables the robot to make calculated entries and exit into the market.
User reviews are stellar although backtests are not available. Moreso, the real account poor results although we et the feeling that the account owner abandoned the account midway. We recommend that forex beginners stay away from this expert advisor.