Happy News, as the name implies, relies on market events to generate profits. It is an MT4 EA that exploits news irrespective of the outcome to place accurate trades. It uses news from reputed online sites and screens them as per your preferences.
Happy Forex company promotes this EA along with other products like Happy Way, Happy Neuron, Happy Breakout, etc. We could not find info on the developer or the team members. There are no company details like founding year, reputation, location address, phone number, etc. For support, the vendor provides live chat, TeamViewer, AnyDesk, and an online contact form.
You can buy this EA for €299 for 2 licenses and it costs €499 for 5 licenses. The package includes 10 EAs of the company including the Happy News EA, free updates, free upgrades, and a 30-day money-back guarantee.
The significant features of this FX EA that the vendor claims make it competitive are:
- It does not use methods like the Martingale, Grid, and Hedging.
- All ECN brokers are compatible with the EA.
- It can automatically detect quotes of 4 or 5 digits.
- It is a fully automated system that is easy to set up.
- A minimum deposit of $100 is required for using the FX robot.
- This MT4 tool works on AUDUSD, GBPUSD, EURUSD, and USDJPY.
The vendor does not provide recommendations on the timeframe, leverage, settings, etc. A few updates to the EA are mentioned on the official site.
Happy News trading approach
This FX Robot uses market news to place orders and capitalizes on the prevailing trend. In addition to using news from reputed online sites, the system uses filters for prioritizing news of high impact. There is not much explanation provided for the strategy, which is disappointing as we are unable to assess the efficacy.
No backtesting reports are present for the FX EA. Backtesting results are not predictive of the future performance of a system. However, traders prefer them as they provide a better insight into the strategy and its successful application. The lack of backtests prevents us from making a proper evaluation.
Happy News live trading results
The vendor provides live trading results for this FX EA verified by the FXBlue and FXStat sites. Here is a real USD account verified by the FXSTAT site.
From the above screenshot, we can see the live account started in February 2019 has completed 328 trades with 86.89% profit trades and 13.11% loss trades. A total profit of 174.52% is present for the account with a daily profit of 0.13% and a monthly profit of 2.84%. For a deposit of $1000, the profit gained is $1666.53. The drawdown is 18.19%. While the drawdown is not high, the growth seems to be a bit sluggish with occasional drops.
What are the risks with Happy News?
From our analysis of the characteristics of this FX EA here are the main risk factors we identified:
- The explanation of the strategy is vague and there are no backtests. The absence of info makes it difficult to understand the approach and its efficacy.
- There is very little info present on the company and the developer team. The lack of vendor transparency makes us suspect the reliability of the system.
- Sluggish growth in real trading results and the low profits for a longer trading term look suspicious.
Reviews from users provide a deeper insight into the performance, support, reliability, and other aspects of the system. Unfortunately, we could not find user reviews for this FX EA on reputed third-party sites like FPA, Trustpilot, etc.
What are the pros & cons of investing in Happy News?
|A fully automated system||Vague strategy explanation|
|Verified trading results||Real trading results show sluggish growth|
|Vendor transparency is lacking|
Our evaluation reveals that while the vendor provides verified results, there are some shortcomings in the system like vague strategy explanation and a lack of vendor transparency that need to be considered.
Happy News Conclusion
Happy News is an expert advisor that exploits news events to ensure accuracy and profitability. The vendor provides real-time results verified by sites like FXBlue and FXSTAT. With the package available as a bundle of 10 EAs you get a good bargain on the price. However, there are downsides like the vague explanation of the approach, erratic growth of the real account, and lack of vendor transparency.