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Happy Market Hours is part of the “Happy” franchise of expert advisors that uses the scalping technique. The EA claims to support traders of all experience levels, including beginners. The site goes on to warn its clients that some brokers aren’t suitable for scalping. We begin with the EA Review of Happy Market Hours. Is the robot credible?
What is Happy Market Hours?
Happy Market Hours EA is a fully automated trading robot that went live in 2019. The EA combines the scalping method with technical indicators and a spread filter to manage trader earnings. The robot works with several currency pairs, including EURUSD, EURCHF, EURGBP, EURCAD, USDCAD, USDCHF, GBPUSD, GBPCAD, GBPCHF, CADCHF. For this EA, the trade charts are updated every 15 minutes.
The EA has two packages, one costing €299 and another €499. The €299 version provides two real accounts, unlimited demo accounts, and a comprehensive English user guide. Traders also get access to 24/7 user support via email, Teamviewer, or Anydesk. There are frequent updates that traders receive free of charge and a 30-day money-back guarantee. They get two bonuses: Happy Indicators PRO and Happy Gold MT5 version.
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The €499 version consists of all the cheaper version privileges but with five real accounts instead of two. You will need a $100 minimum deposit to begin trading on Happy Market. Purchasing Happy Market Hours also gives you full access to the rest of the robots in the Happy Forex franchise.
EA Review: Happy Market Hours
The happy market is suitable for both Metatrader 4 and 5 and uses a dynamic stop loss and take profit to maintain losses and profit based on the market directions. Although the site can support mini, micro, and standard account, the site specifies that it works best with a standard account. The robot is compatible with ECN brokers with auto quotes detection of up to 5 digits.
The EA’s spread filter technology analyses market volatility to stop a trade if the broker spread surpasses the setting spread. The forex trader doesn’t use martingale, hedging, or grid strategies to trade. Using the Happy Market Hours EA guarantees you stable profits and low drawdowns.
Happy Market Hours works with multiple currency pairs, which increases traders’ diversity in trading and spreads the risk involved in Forex trading while ensuring that the robot is liquid at all times. The EA determines the market direction by trading during different hours and studying the trends.
The robot is a scalper, which uses 40 pips take profit and stop-loss limits. Take profit ensures that your robot can get you the profit you set and prevents you from losing your investment past the limit you set. The maximum default spread for this robot is five pips, which is beyond what ECN recommends.
EA Review: Stats and Community Trust
Happy Market Hours is part of an entire franchise of EAs, which means that the bot’s creators are professional traders. We checked their website, and it looks professionally made but lacked in-depth content. We had to scour several independent sites to get comprehensive information on the franchise.
Happy Market Hours Backtest
The robot’s sales page provides us with several backtests for the currency pairs it supports. We decided to focus on the EURUSD pair, one of the major pairs for this robot. The test covers nine months between 2014 and 2015 and works on the M15 timeframe. It was done using the 99.9% modelling quality, which is the most accurate for backtests.
For this test, the trader posted a $1000 initial deposit that made a net profit of $1207.07, which translates into a 1.54 profit factor. Out of 287 trades, the robot won 139 short positions and 148 long positions, leading to about 70% wins. The maximal drawdown set was 15.35%. This backtest shows positive results that we hope translates to the actual live trading.
Happy Market Hours Myfxbook Stats
The EA claims to present accurate live tests that Myfxbook has verified to showcase their stable live accounts. The tracking record and trading privileges are confirmed. The only problem we have with the information provided to Myfxbook is that it’s from a demo account.The stat analysis shows that the trader deposited $44,380.29 in September 2013, which has since grown to $333,104.30. This is a profit of 4467.55%. The account continues to gain 0.14% daily with a 3.56% drawdown. Out of 3273 trades over the years, the robot won 75% of them, close to what the historical analysis also projected. We would have preferred live trading to a demo because this still doesn’t give us a clear picture of how the robot works.
The good thing about this site is the regular updates they provide to add new features for the traders, which they document on their site.
Since all the robots come as a package, we found some reviews covering the entire Happy Forex franchise, although they don’t cover the Happy Market Hours alone. The reviews are primarily positive, and the whole franchise is rated 3.54 on Forex Peace Army.
Final Thoughts
The best way to gain clients’ trust, especially where people are required to transact a hefty amount of money, is to provide verifiable checks and balances that the Happy Forex Market EA is yet to deliver. These checks include comprehensive information about the trading strategies that bring profits, transparency on who the robot developers are, backtests and stats from both demo and live accounts. Happy Forex Market has been unable to produce any of these.
The developers made an excellent decision in combining scalping with spread filters so that the robot can stop any trades whose broker spread is above the limit set. That, coupled with the stop loss and take profit, makes this robot relatively safe to use.
We recommend that you start trading with a demo account, especially for amateurs, so that you can build confidence as you become more experienced. Demo accounts provide a chance at risk-free trading. This is a robot we can recommend, but proceed with caution and, if you can, utilize the 30-day money-back guarantee.