Investing in Forex comes with a certain amount of risk. Only if you accept the risks involved can you see the potential in the trading. But there are ways to minimize the risks present. One of them is using an automated Forex trading system. Automation helps in removing the emotional factor which wreaks havoc with trading. Happy News is one such Forex robot from Happy Forex that does not use high-risk approaches such as the Martingale, Grid, or Hedge. In this review, we will evaluate this Forex robot and provide you with our insight into the system.
As a MetaTrader 4 compatible Forex robot, Happy News as the name suggests uses market news to predict the trade entries and exits. According to the vendor information, pending orders are placed in both directions to enable you to capitalize on the market momentum regardless of the impact of the news. Market news is downloaded from reputed sites and screened as per the user preferences and needs.
Many filters are used to ensure the news helps in predicting the outcome accurately. We could not find details about the company or the developer team behind the system which shows a lack of transparency.
The system works on multiple currency pairs and there is no mention of the time frame used. From the details found on the official site, several new updates have been added including source code modification, the addition of currency pairs, new auto GMT settings, filters, and more.
How To Start Trading With Happy News
Happy News EA is available along with other Happy Forex robots. A pack of ten expert advisors costs € 299 for two licenses and €499 for 5 licenses. The package includes a user guide for installation, real account licenses, unlimited demo accounts, and free updates. A 30-day money-back guarantee is provided with the pack. The system is compatible with ECN brokers and has auto quotes detection up to 4 or 5 digits. A minimum deposit of $100 is required to use the account.
No backtests are provided by the vendor. Backtests reveal the performance of the system based on historical data. Although the results are not predictive of future performance, strategy tester reports help users know about the trading approach used and the efficacy level of the system. The lack of backtests prevents us from doing an effective evaluation of the system.
Verified Trading Results of Happy News
Trading results verified by the myfxbook site and by the FXStat site are posted on the official site. Here is the screenshot image of the results posted on the myfxbook site.
The trading stats of the Happy News V1.4 USD demo account using 1:500 leverage on the Metatrader 4 platform indicates a total profit of 386.7% and an absolute profit of 185.97%. A daily profit of 0.085 and a monthly profit of 2.55% are shown. For a deposit of $6,593, with the trading being done from February 2016 up to April 2021, the account reveals a balance amount of $18,855.49. The drawdown for the account is 39.26% and the profit factor is 1.22. A look at the trading history reveals lot sizes ranging from 3.00 up to 5.00. We are concerned about the huge difference in the absolute and total profit values, the high drawdown, and the big lot sizes. All these denote a system with a high-risk trading approach.
Although there are no separate reviews found for the Happy News system, we found user reviews for the Happy Forex system on the Forex Peace Army site. Here is a screenshot of some of the reviews:
From the reviews, we can see that the EAs are not working as they should. However, the support seems to be working with the customer having got the refund as shown in one of the reviews. But since this is dated two years back and there are no recent reviews, we are skeptical about the efficacy of the system at present.
Is Happy News A Viable Option?
Will you find investing in the Happy News Forex robot worth your money? From our analysis of the system here are the main advantages and disadvantages we found in the system:
- Fully Automated system
- Verified trading results
- High drawdown
- The trading strategy is not disclosed
Summing up our review of the Happy News Expert Advisor, we find the system reveals questionable performance results. Although the trading results are verified by the myfxbook site, we found the high drawdown, a discrepancy in the profit values, and big lot sizes pointing to a system with low efficacy. The user reviews confirm our suspicions. Although the cost of the system is not high, and the vendor does offer a money-back guarantee, we are not satisfied with the results provided. We would reconsider our position if the system is suitably optimized to provide better performance without a high level of risk involved.