In this post I will be reviewing the Happy Frequency EA (expert advisor) which is another automated forex trading system from the team over at Happy Forex. I have previously reviewed some of their other forex robots including the Happy MartiGrid EA and Happy Breakout EA.
For those who are new to forex trading, an expert advisor (EA) is the terminology used by the MetaTrader 4 (MT4) trading platform that is used to describe a forex robot. An EA can place and manage trades on behalf of the user. All you need to do is open an MT4 trading account and download the MT4 platform. You then setup the EA on your charts and it will conduct trading activities for you.
I would always look to open a trading account only with a reputable ECN forex broker for the best possible trading conditions including tight spreads, competitive commissions, excellent support and reliable execution speeds.
With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Happy Frequency Trading Strategy
The Happy Frequency EA combines the concepts trend/grid/hedge/semi-martingale according to risk low/middle/high/combi EA files. All of the implemented strategies include a news filter in order to try and avoid trading around potentially volatile market conditions caused by news releases.
The Happy Frequency EA is designed to work with multiple FX currency pairs which include: USDCAD, EURUSD, EURGBP, EURJPY, EURCHF, GBPUSD, AUDUSD, USDCHF and USDJPY. The EA trades on the M5 time frame.
The developer states that this particular forex robot needs to run 24 hours a day as it constantly analysis the markets for potential trading setups and thus, a forex VPS which can run your trading platforms 24/7 could be useful for those who cannot always keep their computer or laptop running.
Happy Frequency Back Testing
There are no back-test results of the Happy Frequency EA on the official Happy Forex website which is disappointing. I would have liked to have seen some back tests that use Birts Tick Data Suite implemented within the MT4 platform and include real tick data, variable spreads, commissions, swaps and slippage.
Happy Frequency Live Results
Happy Frequency Summary
Upon closer inspection of the statistics, I believe that the Happy Frequency EA forex robot will be extremely broker dependant. I would certainly only consider an ECN broker with this robot. Not to mention that the money management aspect involved on some of the incorporated strategies can be considered dangerous by some traders, mysef included.
That being said, the Happy Frequency EA comes with full support, free updates, setup instructions and a money back guarantee. It is also available as part of a complete Happy Forex EA package. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.