As we can see from the Happy News name, the system works with High Impact News periods. The company behind the robot is a well-known EAs producer – Happy Forex. Let’s figure out what we have got.
Detailed Happy News Review
The presentation lacks useful information about what we have to expect from the advisor:
- Happy News runs charts fully automatically. We have to do nothing in addition after setting the system up.
- We can work only on the MetaTrader 4 platform.
- The system is based on placing pending orders to catch the market’s move right after it occurred.
- So, when the market reacts to the news, we’re set.
- The advisor received data from a Forex Factory calendar.
- It doesn’t perform strategies that can set the account at high risk like Grid, Martingale, Cost Averaging, Arbitrage, etc.
- We are allowed to choose which news we’d like to trade and switch off others.
- From the screenshot, we can see how the system looks like on the chart attached.
- The robot sets GMT Offset automatically for us according to the broker’s GMT Offset.
- Happy Forex suggests we use Admiral Markets as the main broker house to work with. Yes. It’s a well-known broker with a good reputation.
- The robot requires an ECN account to have low spreads for trading.
- The account balance has to be $100 or higher.
- The system can be used on both four and five-digit charts.
Happy News Strategy Tests
There are no strategy tests provided. It’s not good because we can compare how the system worked on tests and how it has been running on the live account.
Happy News Trading Results
The robot has been working on a demo account that was deployed on Fort Financial Services. It’s weird because they just promoted Admiral Market. It trades automatically using fundamental data for placing pending orders on the MT4 platform with 1:500 leverage. The data has a verified track record. So, these deals and results are correct. The account was deployed on February 25, 2016, and funded at $6,593. Since then, the absolute gain has become +390.89%. An average monthly gain is +2.56%. The maximum drawdown is 39.26%.
As we can see, this year is horrible for the robot’s profitability.
There were 749 deals with 875.3 pips traded. This trading frequency is low because the robot was registered in 2016. An average win is 3.95 pips when an average loss is -15.00 pips. The win rate is 85% for Short and Long. An average trade length is five minutes. The Profit Factor is 1.23. It has decreased significantly after the last time losses.
The robot opens trades on the USD cross pairs: EUR/USD, AUD/USD, GBP/USD, and USD/JPY. It closed 261 trades on EUR/USD with $7096 of profits taking first place.
As we can see, the main news period is 3 p.m. during the European market.
It’s weird to see that Friday (287) is the most traded day. Usually, trading activities fade away at the end of the week.
The system executes orders with high risks to the account balance. Losing four deals forces the account to lose 10% of the balance.
Happy News has lost six deals in a row, having set the account at high risks. At the same time, trading with SL that is 15 times bigger than TP is too dangerous.
April 2021 was closed with insane losses. Now, the robot is a scam.
All Happy Forex offers look the same. We have two packages that have prices without a 30% discount which will be added to the offer. The package with two licenses costs 299 EUR, with five licenses – 499 EUR. It’s insane pricing. As usual, they explain that we buy not this robot, but a 10 EAs pack. We are not allowed to buy a single robot. The packages include ten EAs, Happy Gold, and Happy INDIcators Pro, in addition, an unlimited number of demo accounts, a user guide, 24/7 welcome support, free lifetime updates, and upgrades. The deal is supported by a 30-day money-back guarantee.
There’s only a page of Happy Forex on the Forex Peace Army without any mentions or comments about the Happy News advisor. There are five testimonials that formed a 3.5 rate. We can see some accounts connected to the page where most of them were stopped and some of them were blown.
Happy News is a trading advisor that works with mostly a single High Impact News period at 3 p.m. during the European trading session.
The robot has closed six deals in a row, having reached insanely deep Stop Losses. Now, the robot is a scam and should be avoided.
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