If you want a large number of trading opportunities with a risk level you are comfortable with, the trend trading approach is an ideal choice. It is suited for newbies as well as experienced traders. Hence it is not surprising that several Forex robots follow the trend trading approach.
The automated software helps to take care of the technical analysis which is necessary to see profits with this strategy. Happy Trend is one of the EAs from Happy Forex that uses the trend approach. The system is capable of trading on big client accounts with Metatrader compatibility. This Happy Trend review analyses the performance, features, and overall reliability of the expert advisor.
Happy Trend: Characteristics
High volatility is used by the system along with News Filter to open trade on a specific currency pair using efficient money management. The system works by capturing the precise trend movement that can benefit the user. A dynamic take profit and stop-loss feature and accurate entries are two key aspects of this system.
Based on the information available on the site, the system has new updates added to it including source code, optimization settings, News Filter, a second calendar, and more.
Currency Pairs, Strategy & Timeframe
Some of the currency pairs this system focuses on include USDCHF, AUDUSD, USDJPY, and GBPUSD. An H1 timeframe is used by this EA to enhance the trading approach. This Metatrader 4 Forex robot works on micro, mini, and standard type of accounts.
A minimum deposit of $100 is recommended by the vendor. As per the vendor information this system does not use hedging, grid, or Martingale approaches. It is capable of detecting quotes automatically up to 5 digits.
Happy Trend Trading Performance
Backtests are provided for a few of the currency pairs the system supports. Here is a screenshot of the strategy tester report for the EURUSD pair.
From the screenshot above, we can see the testing has been done for 6 months starting from January 2020 up to June 2020 on a one-hour timeframe. The modeling quality is 99.9%. For an initial deposit of $1000, the profit factor is 2.08 and the drawdown is 6.48%.
Live trading results verified by the myfxbook site are provided for a demo USD account by the vendor. The screenshots of the results are shown below:
From the trading stats, we could see that the profit is 381.28% and the absolute gain is 140.36%. The big difference between the two values is puzzling and indicates the system’s performance is not efficient enough.
Other trading stats include a daily gain of 0.085 and a monthly profit of 2.56%. A drawdown of 39.26% is shown. Such a high drawdown is contrary to the claims of the vendor that the system is a low-risk one.
The profit factor is 1.22 and lot sizes used for the trading range from 4.15 up to 5.00. Comparing the backtesting results and the demo account trading, we could see there is a difference in all the values. This proves the fact that backtests do not serve to predict future performance.
How Much Does It Cost?
This system is not available for purchase as an individual package. The vendor offers a full pack of 10 EAs which includes the Happy Trend system too for a cost of €299 for two real accounts and €499 for 5 real accounts. Other features included in the packages are unlimited demo accounts, a user guide, email support, and free lifetime updates. A 30-day money-back assurance is provided by the vendor. While the pack of 10 EAs seems to be economic at the outset, traders who want only a specific system will find the cost too expensive.
Reviews From Customers
We found mixed user reviews for the Happy Forex system on the forexpeacearmy.com. The screenshots of the reviews are provided below:
One of the reviews indicates that the system did not work but the user got a refund, while another user mentions the high profits received. Another user mentions that the system had high risk and no stop loss.
Should You Use Happy Trend EA?
From our analysis of the Happy Trend EA, we find the system has a few advantages and downsides. We have tabulated our findings in the pros and cons table below:
|Fully automated system||Vendor transparency is absent|
|Money-Back guarantee||A huge drawdown|
|Verified trading results||Is not available as a separate package|
|Negative user reviews|
Wrapping up our review of the Happy Trend Expert Advisor, our evaluation reveals that the system uses a high-risk approach. The huge lot sizes and high drawdown are tell-tale signs of a system with a high-risk strategy. Despite providing backtests and verified trading results, from what we could evaluate of the performance, the average trader will not be comfortable with the risks taken. Other downsides we noted include the lack of vendor transparency and negative user reviews. The system could be a viable one if the vendor takes care of these downsides and minimizes the risks appropriately.