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Happy Forex has found a way to trade using market patterns by using the grid strategy. According to their sales page, the robot doesn’t depend on indicators. We are excited to know how this works. We perform an EA analysis on the Happy Way by studying its website, live statistics and backtests, user reviews, and the bots trading techniques to analyze its profitability.
Table of Contents
What is Happy Way?
Happy Way is an automated forex expert advisor owned by the creators of the Happy Forex franchise, who claim to reside in Slovakia. It trades at five stable currency pairs: USDCAD, AUDUSD, AUDCAD, CADCHF, AUDCHF. Happy Forex has made more than ten robots, but we have no idea of its anonymous creators. We also have no idea where the franchise’s main offices are located. The bot claims only to use the Grid strategy and not Martingale. According to the site, traders are no stuck on one currency pair.
Happy Way’s Features
The bot’s software comes in two packages, and you can choose whichever you prefer. The first package costs €299 and the second €499. The basic package contains several features, including:
- Happy Way bot
- 2 Licenses for two real accounts and unlimited demo accounts
- Every update or upgrade is free
- A user guide and instruction manual in English
- Unlimited use for the user
- Supports ECN brokers
- Auto-quotes detection 4 or 5 digits
- Happy INDicators Pro
- Happy Gold for MT5
The premium package consists of all the primary plan’s features, and instead of two real accounts, you get five and their licenses added to the package. Happy Way is compatible with MT4 and 5. The bot’s software can work with Windows (7, 8, and 10), macOS, and Linux. When you install the bot and are ready to work, you will need to create an ECN account and deposit a minimum of $100 to start. When purchasing the robot, you will get all the ten robots by Happy Forex.
The robot has carried a 30% discount for a long while now, which seems like a ploy to get potential clients to think they are buying products for a steal.
EA Analysis: Happy Way
Happy Way uses the grid strategy when trading with the direction of the market. It, however, doesn’t use Martingale or technical indicators. Grid strategy is automated and is essentially meant to control the opening and closing of positions. This technique works when traders place buy and sell limits within several levels above and below the set currency prices. The essence of this is so that the trader makes a profit regardless of market trends. Traders need to place effective stop-loss strategies to prevent a robot from trading on losing positions for long.
Happy Way supports three account types which include micro, mini, and standard accounts. For a micro account, you will need $1000 for a 0.01 lot. A mini account will require $10k for 0.1 lot, and standard accounts use $1000k to trade 1 lot. The trader trades within one-hour chart windows
The developers of the robot ensure that they analyze the robot’s performance and update it often. They have so far done a few upgrades that:
- Fixed the source code with #property strict
- Modified the settings to include Lot_Multiplier
- Modified the source code for MT4
- Added a new system generation serial number.
EA Analysis: Stats and Trader Reactions
We start with the robot’s sales page. Happy Forex hosts several robots from the same group of developers, and Happy Way’s sales page is the shortest one of all. The developers of this robot haven’t offered us much in terms of the robot’s performance and trading techniques. They have, however, made it easy for traders to know the requirements of using this trading robot by providing clear instructions on the same.
Happy Way on Myfxbook
Happy Way has given us access to verified stats from Myfxbook that started in 2017 with a $29,726 deposit, which has grown to $42,776.42. The account is still active and garners 0.02% in daily profits and 0.75% monthly. The drawdown is at 32.31%, which is relatively high considering that the drawdown is a massive contributor to reducing a trader’s gross profit.
The summary shows that out of 831 trades, Happy Way won 66% of the long trades and 70% of the short ones. The average trade length is 18 days, the average win 89.45 pips/ $47.57, and an average loss of -100.07 pips/ -$52.35. The profit factor is 1.89, which falls slightly below our recommended level of 2 and above. We didn’t find any backtests or user reviews on Happy Way, but we got reviews about Happy Forex, which applies because it encompasses the ten robots you get with one purchase.
Final Thoughts
We liked the robot’s trading strategies until we got to the grid technique, and we can’t recommend it to amateur traders. Grid has the potential of opening infinite positions, especially when the market is unfavorable, to try and help traders recover their losses. From the account shared, we can see that the account saw drawdowns of over 30%. The recommended drawdown percentage is usually somewhere below 20%. Mixing high drawdowns with the grid strategy is a disaster in the making.
We don’t have backtests to study the robot’s historical data. Backtests are essential for strategy optimization and analyzing a robot’s performance, even before you start using it.
Transparency is quite essential; who are we entrusting our money to? We still have no idea who created the robot or where the Happy Franchise has its headquarters. The robot is also quite expensive as it doesn’t have any special features to help traders. We have to recognize that the developers have provided an option for demo account creation to ensure that traders can understand the robot before committing to use the product.
The profit margin is even relatively small and isn’t worth the trouble, especially with drawdowns that high. Considering that this account was opened four years ago and with a big deposit, technically, it should have earned more than the profit levels we see now. We recommend finding alternative bots to this one.