In this post I will review the Happy Trend fully automated forex trading robot developed by the Happy Forex team who have a selection of expert advisors (EA’s) available.
For those who may not be familiar with the terminology, an EA is another name given to forex robots within the popular MetaTrader 4 platform which is the platform many automated systems have been designed for.
In order to use this forex robot, you will need a trading account with a forex broker. 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 Trend Trading Strategy
The Happy Trend EA works on high volatility along with a news filter and opens a maximum 1 trade per currency pair with an implemented money management system which attempts to capture the direction of the trend movement.
The EA uses a dynamic stop loss and take profit to try and adjust to current market conditions whilst it has been designed for all levels of trader due to its automated nature and fully customisable settings.
You can use the Happy Trend EA on any currency pair or time frame that you wish. I would personally use it on the higher chart time frames as I find that they tend to filter out the noise from lower time frames and can catch bigger trend moves which is important considering this particular forex robot implements a trend trading strategy.
Furthermore, I would utilise the major currency pairs such as the EURUSD and GBPUSD on an ECN forex broker. This is due to the fact that the major FX currencies tend to have lower spreads and more liquidity, thus potentially saving on trading costs long term and catching big trends.
Happy Trend Back Testing
The developers have shared an EURUSD 15-minute time frame back test over a 10-year period. However, the back-test modelling quality is limited to just 90%. I would always expect to see back tests conducted in the MT4 strategy tester along with Birts Tick Data Suite using 99% modelling quality including real tick data, variable spreads, real commissions, slippage and swap.
The more experience traders may wish to optimise the Happy Trend EA to create their very own bespoke set files for various currency pairs and chart time frames. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
Happy Trend Live Results
Happy Trend Summary
Overall, I am personally disappointed with the Happy Trend EA primarily due to the fact that a trend based system should be aiming for long term success.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.
Happy Trend includes instructions, support, updates and on option to be purchased as part of the Happy Forex EA package. It also comes with a money back guarantee.