With a strange name, Happy Power EA aims to deliver substantial returns with a risky strategy. The trading robot comes with verified results and has multiple backtests with different settings to provide precise details on its performance. After reading the outcomes, we can deduce that the seller aims to sell the get the rich quick idea that always fails.
Happy Power: Characteristics
Like any other trading robot, you have to download the ex4 file from the owner and attach it to the chart on your MT 4 or 5 platform. The robot supports ECN brokers and performs all the trades in auto mode. As you purchase the product, the license will be available for an unlimited number of demo and live accounts. Upgrades are free of cost.
Currency Pairs, Strategy, and Time Frame
The robot works on the 30 minutes chart on the EUR/CHF currency pair. The minimum deposit required to trade is $1000. From the trading history and the performance chart, it is evident that the system uses risky strategies. In this case, it is opening orders in a similar direction for a trade going in negative. This can lead to a huge drawdown if the market keeps trending towards one side. The drawdown of 54.53% is the confirmation of our analysis.
Happy Power maintains an approach between day and swing trading as the trades are held for nearly a day. There is no presence of a stop loss or a take profit as the expert advisor uses the market conditions to determine the respective entry and exit points.
This statement on the website hints that the robot uses an inbuilt neural network for placing trades. However, from the market perspective, such EAs are usually sold for hundreds and thousands of dollars with good profitability. So the claim can be said as fake.
Happy Power Trading Performance
Backtesting results are available for low, medium, and high-risk settings for 2020-2021 at the MT4 platform. The relative drawdown on low-risk settings hung at 19.57%, medium at 35.61%, and high at 39.17%. Maximal and relative drawdowns have the same value meaning that the equity suffered the most in the initial stages.
The balance and equity curve difference is more evident for low-risk settings, which is quite strange as the drop should be more significant for high risk. The lot size for the whole testing procedure remains the same. The minimum take profit in this case is 7.7 pips.
Live results are available with high-risk settings only. From February 25,2021 until May 2021, the robot only has only been producing an 89% gain with subsequent drawdowns.
How much does it cost?
The license for an unlimited number of demo and live accounts comes at the cost of 325 Euros. It also includes access to other robots from the developer. There is a 30 days money-back guarantee that is insufficient to test this system efficiently. To see any good results, you have to use it for at least two consecutive months. Support is available via email or online chat 24 hours and seven days a week. However, we were unable to contact them on Sunday through live chat. We can observe much better profitability for similar robots on the web using identical risk settings and strategies.
Reviews from customers
There are no reviews available on financial review platforms such as Forexpeacearmy or Trustpilot. This shows that the product is currently new.
Should you use Happy Power EA?
The drawdowns associated with the algorithm currently make it a high-risk investment for anyone interested. As mentioned before, there are robots with a similar price tag that can show much better profitability. It would be better to wait out for some duration and see if the EA performs well for an extended period before finally putting your cash in.
- It comes with various other robots that are free to use
- The EA shows an extremely high drawdown
- The cost of 325 Euros is high
Most of the expert advisors in the financial industry are composed of units that follow martingale or grid trading strategies. This is due to the fact that automated trading software is bound to lose at some point or another, and using these plans keeps the equity on the positive end even though it exposes the portfolios to huge drawdowns. As a result, you won’t find these EAs with a good record for a consistent period.