In this post I will be reviewing the Happy Frequency EA (expert advisor) which is another automated forex trading system from the team over at Happy Forex. I have reviewed other forex software from Happy Forex including Happy Breakout EA, Happy Neuron, Happy Market Hours, Happy Fast Money, Happy Algorithm Pro, Happy News, Happy Trend, Happy Gold, Happy Power, Happy Indicators Pro, Happy Japanese Market, Happy Galaxy EA and Happy Way.
For those who are new to forex trading, an expert advisor (EA) is the terminology used by the MetaTrader 4 (MT4) trading platform that is used to describe a forex robot. An EA can place and manage trades on behalf of the user. All you need to do is open an MT4 trading account and download the MT4 platform. You then setup the EA on your charts and it will conduct trading activities for you.
I would always look to open a trading account only with a reputable ECN forex broker for the best possible trading conditions including tight spreads, competitive commissions, excellent support and reliable execution speeds. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
The Happy Frequency EA can analyse the charts, place and manage trades, on all of the trading symbols and chart timeframes that you attach it to. You can even set it to semi-automated mode where it will send you an alert via platform pop-ups, email or SMS. You can then decide if you would like to take a trade or wait for the next opportunity to come along. I like this as it means that you can still maintain control over your trade decisions and learn more in the process.
Happy Frequency Trading Strategy
The Happy Frequency EA combines the concepts trend/grid/hedge/semi-martingale according to risk low/middle/high/combi EA files. All of the implemented strategies include a news filter in order to try and avoid trading around potentially volatile market conditions caused by news releases. This is a good feature as you will find brokers can have very high spreads and extensive slippage around major news releases which can have a negative impact on the performance of any automated trading strategy.
The Happy Frequency EA is designed to work with multiple FX currency pairs which include: USDCAD, EURUSD, EURGBP, EURJPY, EURCHF, GBPUSD, AUDUSD, USDCHF and USDJPY. The EA trades on the M5 time frame which does mean that there is ample opportunity for trades. You can also use it on any other financial instrument that you please, although you may want to run some optimisations beforehand to find a suitable combination of settings according to your own preferred trading style.
The developer states that this particular forex robot needs to run 24 hours a day as it constantly analysis the markets for potential trading setups and thus, a forex VPS which can run your trading platforms 24/7 could be useful for those who cannot always keep their computer or laptop running. I have my own forex VPS which I find to be an invaluable tool for running all of my trading robots around the clock on multiple instances of the MetaTrader platform.
Happy Frequency Back Testing
There are no back-test results of the Happy Frequency EA on the official Happy Forex website which is disappointing. I would have liked to have seen some back tests that use Birts Tick Data Suite implemented within the MT4 platform and include real tick data, variable spreads, commissions, swaps and slippage. Without any backtests, we do not really have any way to see how the Happy Frequency EA may have performed over many years of differing market conditions across various financial instruments. I think that all EA developers should at least provide backtests for the currency pairs and chart timeframes that their software has been designed to run on. When they do not, I always ask myself the question, why don’t they? I do not want to jump to any conclusions but it may be because the backtest results aren’t great.
Happy Frequency Live Results
Thankfully, the Happy Forex team have provided some real verified results to their credit which somewhat makes up for the lack of backtests being provided. However, the drawdown on the Happy Frequency results page is very high. This emphasis how the EA will hold on to losing positions in the hope that they will eventually turn around in our favour. The main problem with this is that if they do not reverse, the account can end up in a sticky situation which may lead to a margin call and wipe it out completely. Therefore, I would personally prefer to opt for a forex EA that has more sensible money management. Ideally, I would look for an EA that has a tight stop loss to cut losing trades short but will lock in profitable trades at breakeven point and trail the price movement for maximum profits. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Happy Frequency Summary
Upon closer inspection of the statistics, I believe that the Happy Frequency EA forex robot will be extremely broker dependant. I would certainly only consider an ECN broker with this robot such as IC Markets who have very tight spreads, competitive commission fees and lots of liquidity to ensure quick trade execution speeds at the best possible prices. Not to mention that the money management aspect involved on some of the incorporated strategies can be considered dangerous by some traders, mysef included.
That being said, the Happy Frequency EA comes with full support, free updates, setup instructions and a money back guarantee. It is also available as part of a complete Happy Forex EA package. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. The Happy Forex team of developers are very friendly and happy to help but I think that they could improve the money management on most of their forex robots which I have reviewed in the past, and Happy Frequency.
- Fully Automated Forex Robot
- Multiple Currency Pairs
- Multiple Trading Strategies
- Customisable Settings
- Verified Results Provided
- Versatile Forex Robot
- Full Support
- Detailed Instructions
- Free Updates
- Money Back Guarantee
- MetaTrader 4 Only
- No Backtests
- High Drawdowns
- Risky Trading Strategy
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.