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Happy News works by placing pending orders in two directions to wait for news impact, such that you win regardless of the trade’s outcome? We perform an EA review on Happy News to ascertain whether it’s profitable or not. We will analyze how they trade, the packages the company offers, user reviews, backtest and actual stats, and their website’s interface to give you a comprehensive report.
Table of Contents
What is Happy News?
Happy News is a news forex trader. The forex bot relies on News from reputable news sites to help in trading according to parameters set by traders. Happy News is part of Happy Forex and claims to be 100% automated. Apart from Happy Forex, we have no information of who the creators of this franchise are or where the company’s offices are located.
Features of Happy News
You can get the bot’s software in either of the packages they offer. The first package costs €299 and the second €499. The basic package contains several features, including:
Happy News Software Packages
- A sure guide in English and an instruction manual
- 2 Licenses for two real accounts and unlimited demo accounts
- Every update or upgrade is free
- There are no restrictions in using the bot
- 30-day money-back guarantee
- The robot doesn’t use dangerous trends such as Martingale, Hedging and Grid.
- Supports ECN brokers
- Auto-quotes detection 4 or 5 digits
The premium package consists of all the primary plan’s features with five real accounts and licenses added to the box. Happy News’ .exe file you download is compatible with MT4, Windows (7, 8, and 10), macOS, and Linux. To begin trading, you will need a 100USD deposit and an ECN account.
EA Review: Happy News
Happy News prides itself on its user-friendliness. You can install it quickly, and the company provides you support for the ECN broker, which is excellent for tighter spreads. We don’t know the trading technique this site uses; all we know from its location is that they don’t use martingale, which is a plus on their part, no hedging or use of the grid technique.
Depending on the parameters you have placed for your news trader, there are other filters you can remember. These are:
- The impact of the News on the marker (high impact, medium impact, and low impact)
- Expectations of variance in the previous report will lead to an increased profit margin.
Happy News works on the M15 timeframe. For the News, the trader has the autonomy to choose whether to see and trade all information or News relevant to the current pair they placed. The developers made this robot with a unique feature that will let you trade on currency pairs related to your existing trade. Happy News begins by getting impactful News from the Forex factory calendar and then placed on a chart that traders can access. The traders then choose what type of News they want to trade on.
EA Review: Happy News Stats and Trader Reactions
We begin with Happy News’ sales page, which is relatively minimal, and like other sales pages for Happy Forex robots, they mainly focus on the update. The developers have provided scanty information on the robot’s trading methods, and we had to scour other related websites to understand exactly how the robot works.
Happy News on FXStat
From a real, verified account on FXStat, we see that this trader deposited $1000 in February 2019, which then grew to about $1627.96 by April 2020. The account’s drawdown rose to about 18%, which is within the accepted range. The account used a 1:1000 broker leverage and gained about 0.03% daily. Its profit factor is 1.31. According to FXStat, the robot is rated 9.8 out of 10 for performance, 5.1 for its risk level, 6.2 discipline, 5.5 for returns and 2 for scalability.
Happy News on Myfxbook
The data that Happy News has provided on Myfxbook is from a demo account. The accounts broker leverage was set at 1:500, with a $6,675.32 deposit in February 2016. From this deposit, the demo account gained $21,654.80 to date, which translates to 456.56% in profit. The account gains 0.09% every day but has a vast 39.26% drawdown. Except for the drawdown, the stats look promising; we would have preferred a real account to show us how the robot would react to real-life situations. From 768 trades, the robot was able to win 768 trades, translating to about 85% of the total. The average trade length is 5 minutes, and the profit factor 1.26, which is too low. If these are a demo account’s results, how bad would a real one get?
We checked several user review sites for any Happy News reviews but were disappointed to find none. With so many Forex robots in the market, Happy News doesn’t offer enough features for users to spend on them.
Final Thoughts
We like that the choice between which News to trade was left to the trader. The site says that it doesn’t use hedging as a technique that baffled us because they also claim to trade both sides. The robot hasn’t touched on their trading strategy, and I am sure people prefer transparency in every money-making venture.
The robot doesn’t give us enough of a profit margin to warrant spending on it. 0.03% a day is meagre compared to what other robots potentially offer. The drawdown for the account was 18.19%, which doesn’t translate to other accounts. The robot’s Myfxbook account, for example, shows higher drawdowns which eat into the gross profit. The 30-day money-back guarantee means nothing if we don’t know who we will ask for a refund. We have no idea who the developers are, and the only way to get in touch with them is via Happy Forex’s website.
They have had a 30% discount for a while now, which is most likely a sales ploy to sell copies of an overpriced robot. The robot is still a winner, even though the profit margins are minimal. You can try out the robot, and we’d love to hear about your experience.