This review analyses the Happy Power EA, a popular Forex robot developed by the Happy Forex group.
Happy Power Review
Happy Power is a 100% automated expert advisor developed for MT4 and MT5 trading platforms. Happy Power claims to be an advanced, fully automated Expert developed to trade with EURCHF.
Happy Power robot features ECN broker support, auto-detection of 4 or 5 digit quotes, compatibility with any broker and easy to install.
The robot was developed by the HappyForex group. Nothing is known about this group, and so is the location where they operate the business from.
Can you trust it, is Happy Power EA legit?
Happy Power Strategy
Unfortunately, the vendor has not disclosed what trading strategy that their Happy Power EA is using.
Instead, they’ve provided a statement telling traders that Happy Power is using a unique artificial intelligence technology for market analysis to find the best entry points.
The developer is basically using such statements as a way to fill up the pages since they’re not answering the question of what trading methodology their robot uses.
They should uphold transparency at all times since they’re not well known Forex robot developer in the market place.
What they need to do is to provide a better service to the trading community and one way to achieve would be to provide a proper statement of how trading is being done using Happy Power robot.
In the meantime, traders can also check out these automated trading tools since they’re highly recommended by professional traders.
- Happy Power is a Forex robot that works on MT4/MT5 platforms
- Happy Power was designed for the EURCHF currency pair
- Recommended time frame is M30
- Robot costs about 325 EUR for a license.
- Minimum deposit requirement is $1000.
- Recommended operating systems are windows 7, 8, 10, Mac OS and Linux.
Happy Power comes with a single license package that costs about 325EUR. The package allows for unlimited selection of account numbers (real & demo) and a bonus expert advisor pack. Each license also comes with free updates and upgrades plus a 30 days money guarantee.
The vendor provided multiple backtesting reports done on the MT4/MT5 platform for the EURCHF. These tests were done for the M30 timeframe with over 99% tick modelling for the period between 2020-2021.
We do not appreciate backtesting results for a piece, because of the manipulations we have seen so far by Forex robot developers. Unless they upload their results on a third party sharing site like myfxbook.com or FXBlue, take it with a grain of salt.
Happy Power Trading Results
Happy Power presented 3 live trading accounts at myfxbook.com, of which only 2 accounts are currently active.
They active accounts are the Happy Power Middle risk hosted on the VT Markets MT4 platform and the Happy Power High Risk hosted on the ForexMart MT4 platform.
Bear in mind that the vendor did not provide any myfxbook.com result done on MT5 platform.
Nevertheless, we appreciate the much transparency showed by this vendor in this aspect of their presentation.
We are going to analyse the 2 active account, and let you understand the performance of the robot on a live trading account.
The Happy Power Middle Risk account was started June 2021, and so far has completed total trade of 137 with a total gain of +41.77%. Average pips won is 17.02 pips while the average pips lost is -25.61 pips. It has a profit factor of 2.21.
The Happy Power High Risk account was started August 2021 but has completed larger amount of trades amounting to 545 within this period.
The robot has made a total gain of +60.49% with an absolute gain of +41.6%. The difference between total gain and absolute gain suggests that the vendor is depositing money into this account and not totally making profits from the market.
You don’t need a be an experienced trader to know that something is wrong with these Happy Power results.
Drawdown is totally unacceptable, and even worse their accounts are new but have managed to accumulate such high drawdown from the market.
The High risk account is showing an average monthly gain of 24.18% with a high drawdown of 48.32%.
Likewise the Middle Risk account, which is supposed to be a more conservative account, is showing an average monthly gain of just 9.07% with a drawdown of 48.67%.
Also, drawdown appears to supersede the absolute gain in these accounts, which is a very huge red flag.
It is obvious that the vendor is using a combination of risk trading strategies, but they insist on not disclosing it.
Happy Power needs to fix a number of crucial things before they can inspire any trust.
Other than disclosing their trading strategy to the community, they should introduce who they are and where they work from.
As things currently stand, I find it very difficult recommending the robot. Thanks for reading our review.