In this post I will review the Happy Way forex robot which runs in the MetaTrader 4 (MT4) platform. It is a fully automated trading system that will place and manage trades on behalf of the user.
You just need to take some time to setup the robot using the provided instructions which makes it accessible to both beginner and advanced traders alike.
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.
The Happy Way EA is another forex software from the team over at the Happy Forex website who have around 10 or so automated systems. I have previously reviewed other forex robots from the developers including the Happy Frequency EA and Happy Breakout EA.
It is very important to state right out of the gate that this robot uses a grid trading system which can be very dangerous and is certainly too risky for my trading style.
Happy Way Trading Strategy
The Happy Way system aims to enter trades with the overall direction of the market. It is primarily developed to trade on 5 currency pairs which are as follows: USDCAD, AUDUSD, AUDCAD, CADCHF, AUDCHF.
It doesn’t use any indicators although it uses a potentially dangerous grid strategy without martingale money management. A grid trading strategy aims to “trap” the price and profit in whatever direction it moves in.
Whilst this can work in certain market conditions, unfavourable conditions can cause trade positions to continuously be open which can lead to significant draw downs, margin call and stop outs.
It is imperative that you understand the significant risks involved with grid trading if you are seriously considering the Happy Way EA.
The software can be configured according to your own requirements and used on any currency pair and time frame that you wish.
Happy Way Back Testing
The Happy Forex team have not shared any back-testing results of the Happy Way EA but if they did, I would have liked to have seen them conducted with 99% modelling quality by using Birts Tick Data Suite implemented within the MT4 strategy tester.
This allows back tests to be as accurate as possible with real tick data, commissions, spreads, slippage and swaps.
That being said, even an accurate back test can only give historical results and a perfect historical equity curve does not mean much with a grid trading strategy in my humble opinion. Why? Because I believe they will always eventually fail due to the significant risks they pose.
Happy Way Live Results
Happy Way Summary
For my personal taste, I find the Happy Way EA slightly dangerous due to the fact that it implements a grid trading strategy and I would much prefer a normal trading strategy with safer money management.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.
Happy Way does include setup instructions, support, updates and a money back guarantee. It can also be purchased as part of a package of forex robots from the Happy Forex team.