In this post I will be reviewing the Happy Market Hours forex robot. I have reviewed other forex software from Happy Forex including Happy Frequency EA, Happy Breakout EA, Happy Neuron, 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.
This particular automated forex trading system runs on the free MetaTrader 4 trading platform and includes simple to understand instruction manual for a quick and easy setup – thus it is suitable for new traders. You can download the MT4 platform from most forex brokers. If you have not yet signed up to a broker and are looking for some inspiration, please feel free to browse my best forex brokers.
One you have the MT4 platform downloaded and installed, the Happy Market Hours EA can scan the markets for trading signals using the built-in algorithm. When it finds a valid trading signal, it will place and manage the trade on your behalf. That makes it a completely hands-free trading strategy. However, you may want to set it to semi-automated mode so that you can manually confirm each signal and decide if you would like to take the trade or wait for the next opportunity to come along.
Happy Market Hours Trading Strategy
Happy Market Hours uses a combination of technical indicators for analysing the market for scalping opportunities. It trades on multiple currency pairs (10 in total) that are EURUSD, EURCHF, EURGBP, EURCAD, USDCAD, USDCHF, GBPUSD, GBPCAD, GBPCHF and CADCHF. It runs on the m15 time frame charts which means there is ample trading signals. However, I do feel that it could be moved onto the 1-hour charts and above as this may help to filter out some of the noise from the lower chart time frames.
Happy Market Hours includes a maximum spread filter to avoid trading when the spreads are too high and incorporates a stop loss and take profit that can dynamically adjust to the current market sentiment. It also includes a news filter, trailing stop and other features that make it a unique automated forex trading system. There are no martingale, hedging or grid strategies used. I think it is good that the Happy Market Hours EA does not rely on potentially dangerous money management strategies like some of the other Happy Forex robots.
All of the settings are fully customisable so you can adjust them according to your own trading style. Otherwise, you can use the robot as it is with the default settings, but should at least adjust the lot/risk size to a level that you feel comfortable with. This is a very versatile trading robot which can be suitable for all types of trading strategies but I do feel it requires some initiative on behalf of the user.
Happy Market Hours Back Testing
The Happy Forex website has plenty of back tests available that used tick data from 99% modelling quality. 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. Therefore, I would only take the back tests with a pinch of salt. I would also like to see the back tests conducted over a longer period of time so we can get a rough idea how the EA may have held up across different market conditions.
Happy Market Hours Live Results
Although the Happy Market Hours backtests did look good, the real verified results are very disappointing. It shows that the EA is in a loss despite being running for many years. It has gone on some good runs but I think that it is let down by a poor risk to reward ratio. This is because a losing trade can wipe out lots of winning trades. I therefore think the EA can be greatly improved by incorporating a better risk to reward ratio. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Happy Market Hours Summary
Overall, I feel that the Happy Market Hours EA has some potential but it needs to be optimised on the financial instruments and chart timeframes that you wish to trade. This way, you can use it in a way that works according to your own trading style. Otherwise, you are limited to the settings provided by the developer which many years of testing have shown not to be performing well. It does come with setup instructions, free updates, full support and a money back guarantee. However, you will need to learn how to backtest EA’s in MT4 if you want to try and develop your own set files for the EA.
Happy Forex provide a collection of forex robots including Happy Market Hours – these can be purchased as a bundle which is decent value for money. You may wish to visit the Happy Forex website for more information on this particular forex robot and to see what other forex software they have available. The Happy Forex team have been around for years and will be more than happy to help you with all of your questions.
I personally feel that there are better forex robots out there, but if you are curious and wish to give this one a try, you could always start on a demo trading account to begin with and take it from there. Please feel free to visit the Happy Forex website by using the link below.
Happy Market Hours
Pros
- Multiple Currency Pairs
- Fully Automated Trading
- Customisable Settings
- 30 Day Money Back Guarantee
- Full Support
- Lifetime Updates
- Detailed Instructions
- Verified Results Provided
- Backtests Available
- Versatile Forex Robot
Cons
- Poor Verified Performance
- MetaTrader 4 Only
- Limited Backtests
- High Drawdowns
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.
