In this post I will be reviewing the Happy Gold forex robot. I have reviewed other forex software from Happy Forex including Happy Frequency EA, Happy Breakout EA, Happy Neuron, Happy Market Hours, Happy Fast Money, Happy Algorithm Pro, Happy News, Happy Trend, Happy Power, Happy Indicators Pro, Happy Japanese Market, Happy Galaxy EA and Happy Way.
You can purchase them as a bundle if you wish which gives better value for money than buying each of them individually. For the purpose of this review, we will focus on the Happy Gold robot which trades the XAUUSD pair.
The Happy Gold EA runs on the MetaTrader 4 trading platform and includes a quick and easy to understand setup guide thus making it suitable for beginner traders. The MT4 platform is free to download and you can get it from most forex broker. If you do not already have an account with a broker, I think IC Markets are one of the best forex brokers for automated trading strategies. This is because they have tight spreads, low commission fees and plenty of liuqidity so that trades can be executed at the best possible prices at all times.
Happy Gold Trading Strategy
Happy Gold is a trend based fully automated trading system that trades on the XAUUSD and 30-minute time frame. It is based around a custom modification of the popular zigzag technical analysis indicator which can help to identify support/resistance zones and potential price breakout levels. Happy Gold will only allow one open trade at any time and has a stop loss. The take profit levels are dynamic so they change according to the market movements. This is better than some other trading robots which can be quite rigid and stubborn, following an exact set of rules with no room to consider different market conditions.
The Happy Gold expert advisor (EA) will analyse charts for potential trading signals based on the built-in algorithm. When it finds a signal, it can place and manage trades on behalf of the user. The settings can be customised to the user preferences. I would personally run forex robots with an ECN forex broker as I find that they tend to have some of tightest spreads, lowest commissions and reliable execution speeds.
If you still want to maintain some control over your trading activity, you can always set it to semi-automated mode. In this instance, the Happy Gold EA would send you an alert when it finds a possible trading opportunity. From then on, you can decide if you wish to enter the market and place your own take profit and stop loss levels. Otherwise, you could wait for the next trading signals to come along instead. I always like to confirm each trade with my own form of market analysis but for some of you who do not have the time or knowledge to trade manually, that may defeat the object of using a trading robot in the first place.
Happy Gold Features:
- Quick and easy to install
- No martingale money mangament
- No hedging required
- No grid trading strategy
- Support for ECN brokers
- Auto detection for 4 or 5 digit quotes
- 100% automated trading system
Happy Gold Back Testing
The Happy Gold forex robot was tested with tick data during its development which gave 99.9% modelling quality in the MetaTrader 4 strategy tester. It is not clear if they used real variable spreads, swaps, slippage and commissions in testing. These factors can have a major impact on results so I would only take the results with a pinch of salt. The spread on thew XAUSUD can be quite high at times so it is even more important that backtesting is done with variable spreads. There are lots of backtests on the Happy Gold website but they have not been updated for a while which is disappointing. I would like to see the Happy Forex team provide top quality backtests over a longer period of time that are more frequently updated so new and existing users can get an idea of what to expect from the bot.
Happy Gold Live Results
If the Happy Gold backtests were lacking, the developers have gone some way to making up for it with real verified by Myfxbook Happy Gold results which show how the EA has been performing recently. This can be a good way for you to gauge if the EA’s statistics align with your preferred trading style. I am actually quite impressed with the long-term gains and decent drawdown that is not as high as some of the other Happy Forex robots. That being said, these are historical results so there is no guarantee that you will get a similar performance moving forward. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Happy Gold Summary
Overall, I think there is a lot to like about the Happy Gold robot. It uses sensible money management and has a track record of results. It is fully customisable but can also be used straight out of the box with default settings which is good for those of you who are short on time. You will want to at least check the lot/risk size being used and adjust accordingly before starting.
The Happy Forex robot developers are always updating the code by adding new features and bug fixing to try and improve the robot. It is always good to see a developer that is hands on and trying to keep up to date with the latest changes in the market. However, I do feel there is room for improvement when it comes to back testing and some of you may find that the Happy Gold EA trades too infrequently.
Happy Gold includes installation and tutorial guide, MetaTrader 4 account license, free updates and support, unlimited use and a money back guarantee. As mentioned previously, they also offer other forex robots with a bulk discount saving. If you are curious and want to learn more, please feel free to use the link below to head on over to the Happy Forex website. You could always try the robot on a demo account to begin with to get an idea of how it works before deciding if it is for you or not.
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.