Happy Power is another fully automated forex trading strategy from the Happy Forex team. 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 Gold, Happy Indicators Pro, Happy Japanese Market, Happy Galaxy EA and Happy Way.
As with the majority of forex robots, Happy Power has been designed to run in the MetaTrader platforms. These are the platforms of choice for millions of CFD and forex traders all over the globe. You can download and use MetaTrader free of charge from most forex brokers. If you are new to trading and don’t yet have a broker, please feel free to take a look at my best forex brokers.
In this Happy Power Review, we will take a look at what it does to hopefully help you decide if it is a forex robot that you would like to try out. As always, I would start on a demo account to begin with until you become familiar with the Happy Power EA and how it works.
What is the Happy Power EA?
The Happy Power Expert Advisor (EA) is an automated forex robot that can analyse the forex market and place trades on behalf of the user. It can also manage and exit trades according to its built-in trading algorithm.
Happy Power uses an advanced strategy designed to trade on the EUR/CHF currency pair. According to the developer, it uses unique artificial intelligence technology for conducting in-depth market analysis to find the best entry points. It runs on the 30-minute timeframe chart.
The Happy Power EA contains a unique self-adaptive market algorithm with reinforcement learning elements. Reinforcement machine learning differs from supervised learning in a way that it does not need labelled input/output pair to be present, and it does not need sub-optimal actions to be explicitly corrected.
How do I use the Happy Power EA?
In order to use a forex robot such as the Happy Power EA, you will need the MetaTrader 4 or MetaTrader 5 platform for desktop. Once that is sorted, you can follow the step by step instruction guides provided by the developer to load the Happy Power EA onto your charts within the MetaTrader platform that you have opted for.
Happy Power will then continuously scan the forex markets around the clock until it finds a trading signal based in the trading strategy it has been programmed to follow. When it finds a signal, it will enter and exit trade positions according to the money management it is designed to use.
You can also set MetaTrader to send you an alert when Happy Power wants to place a trade and then confirm it for yourself. This allows the user to do their own market analysis and maintain some control over the trading. It can also be used out of the box if you prefer, just make sure you adjust the risk to something that you are comfortable with and never risk more than you can afford to lose.
Happy Power Features
If you have made it to this point of the Happy Power Review, you should have a good idea of what it does and how it works. Here we will take a brief look at some of the Happy Power EA key features:
- Developed for the MT4/MT5 platforms
- Fully automated forex system
- EUR/CHF currency pair
- 30-minute chart timeframe
- Built-in trading algorithm
- Customisable money management
- Unlimited real and demo account licenses
- Can be used on ECN brokers and follow FIFO rule
- Automatic detection of 4/5-digit quotes
- Quick and easy installation
- Can be used on any forex broker
- Includes free updates and full support
- 30 days money back guarantee
- Option to purchase Happy Power EA or package of Happy Forex EA’s
Happy Power Back Testing
I am glad that the Happy Forex team have shared some Happy Power back tests. Even more impressive is the fact that these back tests have 99% modelling quality. This is actually the maximum modelling quality achievable in the MetaTrader strategy tester. I would like the back tests to include commissions and slippage, these are 2 aspects of trading that can have an impact on performance.
That being said, back tests are of course no guarantee of future results. Even with 99% modelling quality, there can still be limitations. It is important to always be aware of the significant risks that come with trading any manual or automated system online. I also feel like there is not enough historical data being used in the Happy Power backtests. When you consider that it is possible to get backtesting data from the 90’s, only providing historical results over a couple of years seems limited. Even then, the drawdown in such a short period of time is very high, which makes me feel like this system is highly likely to blow up my account sooner rather than later. If you are fine with the risk for the potential reward, that is your choice. I just think there are much better options with more sensible money management when it comes to automated trading systems.
Happy Power Verified Results
Whilst I am pleased to say the Happy Forex team have transparency and are sharing some real live verified by Myfxbook results on the Happy Power EA website, unfortunately the results are not the great in my humble opinion. Why? It is the drawdown for me. It seems as though the EA is leaving losing trades open without cutting the losses short.
Perhaps that is how the EA is designed to trade, in the hope that the trades will always return to profit. However, I have often seen this cause drawdowns so significant that a trading account gets a margin call and stopped out.
This is too risky a money management strategy for my personal taste. I would instead be looking to cut losing trades short and let the winners run. I may even lock a good trade in at break even and use a trailing stop on the rest to maximise the move.
Furthermore, the Happy Power EA Myfxbook account has not been running that long. When trying to make a fair judgement of any forex software or service, I would like to see the results over a sustained period of time before making a decision.
There was another real verified Happy Power EA account which was running for a quite a while and doing OK, but it has since been deleted. I think that this is probably because the account crashed and burned, which can happen when you consider the high drawdown that this particular forex robot has.
Happy Power Summary
Overall, whilst I commend the developer for publishing Happy Power results for potential users to see, it is just not something I would personally consider for a live trading account simply due to the drawdowns that I can see both in the back tests and real results. The fact that the original verified account was deleted also causes some concern.
There may be traders out there who are prepared to take this extra risk, but Happy Power would probably only make it onto a demo account at best for me.
If you would like to learn more about the Happy Power EA and explore the many other forex products that the Happy Forex team have developed over the years, please feel free to visit the official website by using the link below. Despite this not being the best forex EA you will find, the developers are very helpful.
- Fully automated forex trading system
- MetaTrader 4 and MetaTrader 5 platforms
- Self-adaptive market algorithm
- Reinforcement machine learning
- Tick data back tests available
- Free updates for life
- Full support
- Money back guarantee
- Customisable settings
- Any forex broker
- Limited currency pairs
- Risky trading strategy
- Signficant 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.