In this post I will review the Happy Way forex robot which runs in the MetaTrader 4 (MT4) platform. It is a fully automated trading system that will place and manage trades on behalf of the user.
You just need to take some time to setup the robot using the provided instructions which makes it accessible to both beginner and advanced traders alike.
In order to use this forex robot, you will need a trading account with a forex broker. 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.
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 Power, Happy Indicators Pro, Happy Japanese Market and Happy Galaxy EA.
It is very important to state right out of the gate that this robot uses a grid trading system which can be very dangerous and is certainly too risky for my trading style. If you do not know what grid trading is, you should certainly do lots of research before proceeding. This is not a trading style for everyone and I have often seen grid trading systems blow up accounts.
That being said, let’s take a look at the Happy Way EA in more detail to see if it something that you would like to use on your forex trading account.
Happy Way Trading Strategy
The Happy Way system aims to enter trades with the overall direction of the market. It is primarily developed to trade on 5 currency pairs which are as follows: USDCAD, AUDUSD, AUDCAD, CADCHF, AUDCHF. These pairs do not have the lowest spreads, but you are free to experiment with the Happy Way robot on other financial instruments if you wish to do so. I like to trade the EURUSD mainly, simply because it usually has the tightest spreads, with plenty of liquidity and trading volume that give ample trade opportunities.
It doesn’t use any indicators although it uses a potentially dangerous grid strategy without martingale money management. A grid trading strategy aims to “trap” the price and profit in whatever direction it moves in. It will place buy and sell trades, even increasing the position size, so that it can capitalise on rising and falling markets.
Whilst this can work in certain market conditions, unfavourable conditions can cause trade positions to continuously be open which can lead to significant draw downs, margin call and stop outs. I have seen grid trading systems end up with lots of buy and sell trades open all at once which can blow up your account if you are not careful.
It is imperative that you understand the significant risks involved with grid trading if you are seriously considering the Happy Way EA. There are so many other forex robots out there that do not use dangerous money management that you might want to consider instead.
The software can be configured according to your own requirements and used on any currency pair and time frame that you wish. You can set a low lot/risk size to try and minimise the draw down, but in trading anything can happen. However, I do think it is good the developer has left the inputs externally available for you to adjust if need be. Otherwise, you can use it straight out of the box so to speak.
Happy Way Back Testing
The Happy Forex team have not shared any back-testing results of the Happy Way EA which is a let-down. You would have thought developers with such experience would have taken the time out to provide top quality back tests so we could get an idea of how good or bad the Happy Way forex robot has performed based on historical data. This would also enable us to get a better idea of how it works and what we might expect should we decide on using the EA.
If they did share back tests, I would have liked to have seen them conducted with 99% modelling quality by using Birts Tick Data Suite implemented within the MT4 strategy tester. This allows back tests to be as accurate as possible with real tick data, commissions, spreads, slippage and swaps.
That being said, even an accurate back test can only give historical results and a perfect historical equity curve does not mean much with a grid trading strategy in my humble opinion. Why? Because I believe they will always eventually fail due to the significant risks they pose.
Happy Way Live Results
Although the Happy Forex team have not shared on back tests, they do have a real live verified by Myfxbook account showing the latest Happy Way results. Many traders would argue this is more beneficial as it can give you a more realistic idea of how the Happy Way EA has been trading in real time. Back testing on the other hand only relies on historical data which can give inaccurate expectations. Regardless, neither back tests or real results can give us any sort of guarantee moving forward. However, you can check the latest Happy Way robot performance in the Myfxbook chart below to see if it is something you like the look of. Again, the drawdown is slightly high for my personal taste but you may be happy to take the extra risk.
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Happy Way Summary
For my personal taste, I find the Happy Way EA slightly dangerous due to the fact that it implements a grid trading strategy and I would much prefer a normal trading strategy with safer money management. I think it could be improved by removing the grid element and improving the entry/exit algorithm based on a combination of technical, fundamental and price action analysis.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.
Happy Way does include setup instructions, support, updates and a money back guarantee. It can also be purchased as part of a package of forex robots from the Happy Forex team. They are very helpful and can answer any other specific questions that you may have about this particular forex robot.
- Fully Automated Forex System
- Multiple Currrency Pairs
- Customisable Settings
- Verified Results Provided
- Versatile Forex Robot
- Full Support
- Detailed Instructions
- Free Updates
- Money Back Guarantee
- No Backtests
- Grid Trading Strategy
- Potentially High Drawdowns
- MetaTrader 4 Only
- 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.