2000 Pips Daily EA Review – Is This Automated Trading Software Worth It?

The 2000 Pips Daily EA is an automated trading software designed for the MetaTrader 4 platform that aims to generate up to 2000 pips in daily profits. But does it deliver on its promises? In this comprehensive review, we’ll take an in-depth look at this EA to determine if it’s worth investing in.

2000 Pips Daily EA

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Overview of the 2000 Pips Daily EA

The 2000 Pips Daily EA was launched in 2021 and is marketed as an easy-to-use automated trading solution for beginner and experienced forex traders alike.

Main Features:

Cost: One-time fee of $97 for basic version, $147 for unlimited version

Vendor: Forex Robot Nation

Testing the EA’s Performance

To evaluate whether the 2000 Pips Daily EA can deliver on its profit promises, we need to analyze its historical performance.

The vendor provides limited backtest results from December 2020 to March 2021 showing consistent daily profits during that period. However, the sample size is quite small at just over 3 months. More long-term backtest data would be needed to determine the EA’s viability.

Some users have also shared their live results after running the EA on demo and real accounts. One user on MT4Talk forum reported making 50% returns in 10 days using particular settings. But whether such exceptional performance is sustainable long-term is uncertain.

So while the early backtest and some user results seem promising, there isn’t sufficient proof yet that this EA can generate 2000 pips in profits daily. More transparency through detailed statistics on the number of trades, win rate, risk management etc. would help establish credibility.

Using the 2000 Pips Daily EA

The vendor emphasizes that the 2000 Pips Daily EA is easy to set up and use. Installation involves downloading the software, adding it to your MetaTrader 4 platform, and configuring the settings.

Some key settings that can be customized include:

  • Trade lot sizes
  • Stop loss pips
  • Take profit pips
  • MACD indicator parameters
  • Trading time filters

The vendor recommends particular parameter settings for best results. Users can further optimize these to suit their risk appetite and market conditions.

Once installed and configured, the EA will automatically execute trades based on its algorithms and settings. It is fully automated so doesn’t require any manual intervention.

For novice traders, the simplicity in setting up and using the software is a major plus. But advanced traders may find the lack of control in tweaking algorithms limiting.

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Pros of Using the 2000 Pips Daily EA

Profit Potential: Backtest statistics indicate this EA can be highly profitable if used correctly. Some users have reported exceptional returns of 50% in just 10 days.

Fully Automated: The EA handles trade execution automatically, freeing up time for the user. This allows focusing on other things instead of monitoring charts.

Customizable: Users can tweak settings like trade sizes and risk management to align with their goals and risk tolerance. This flexibility is useful when optimizing performance.

MT4 Compatible: Integration with the popular MetaTrader 4 platform ensures wide compatibility with most brokers. Easy to set up and use.

Affordable: At $97 for basic version, this EA is reasonably priced compared to other automated trading solutions costing upwards of $500+.

Cons of Using the 2000 Pips Daily EA

Unproven Long-Term Performance: Despite promising backtest results, there is no concrete proof this EA sustains profitability long-term in live market conditions.

Potential Overoptimization: Short sample size for backtest data raises questions whether the algorithms have been overfit and won’t work as well moving forward.

High Risk: The huge profit targets necessitate very aggressive position sizing that can wipe out accounts with a few losing trades. Risk management is critical.

Only 1 Currency Pair: The software is heavily optimized for only EUR/USD on 5-minute timeframes. Performance for other pairs and timeframes remains uncertain.

No Guarantee: As with any EA, there is no guarantee the algorithms will continue working profitably in the future. Maintaining and updating them is vital.

Final Verdict

The 2000 Pips Daily EA shows potential to be a profitable automated trading solution. However, the lack of transparency around long-term performance makes it difficult to conclusively determine if it can deliver sustainably.

For traders willing to take a calculated risk, this EA may be worth experimenting with in demo accounts before committing real capital. But exercise caution with position sizing as the aggressive profit targets come with higher risk.

As with any EA, managing risk appropriately, fine-tuning settings, and monitoring performance is vital irrespective of the profit promises. Use the 2000 Pips Daily EA as an aid for potentially enhancing profits, not as a magic bullet guaranteeing overnight riches.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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