Happy Market Hours is designed for all types of traders. It is capable of working on big client accounts with Metatrader compatibility. It uses a combination of technical analysis and the trend/scalping method for ensuring profitable results. This ATS works on 6 major currency pairs using the M15 timeframe.
Happy Market Hours: To trust or not to trust?
As a fully automated system, this MT4 tool assures to provide better returns regardless of your experience level. To check the veracity of the vendor’s claims we have analyzed the various characteristics of this FX EA. Before we decide on the trustworthiness of the system, let us look at the features of this FX robot.
According to the vendor, the key features that make this FX robot stand apart from other similar products on the market are:
- It uses the scalping/trend approach along with technical indicators.
- The main currency pairs the system works on are EURUSD, EURCHF, EURGBP, USDCAD, GBPUSD, and USDCHF pairs.
- It uses the 15-minute timeframe.
- An ECN or standard account works best with the EA settings’.
- The ATS uses a spread filter that stops the EA from executing orders if the spread of the broker is over the level in the settings.
- This FX EA uses dynamic SL and TP levels depending on the market conditions.
- For support, the vendor provides a live chat feature, email, TeamViewer, and AnyDesk.
- Backtests and verified live trading results are present.
After analyzing the key features of this FX robot, we have identified the important pros and cons which are listed below:
- Verified Trading performance
- Risk management
- Positive customer reviews
Our analysis of the above factors is presented below:
Verified trading performance
A few backtests are present for this FX EA. Here is one of the strategy tester reports with the testing done on the EURUSD pair using the M15 timeframe.
From the above report, we can see that the testing was done from 2005 to 2017. For an initial deposit of 1000, a total net profit of 28511188.59 was generated. A total of 1775 trades were executed with profitability of 77.75% and a profit factor of 1.61. The maximum drawdown was 11.32%. From the results, we can see that the drawdown is low and profits are high indicating an effective approach and good performance.
Real live trading results are also present for the FX EA. Here are screenshots of the results:
From the above info, we can see a total profit of 7.38% and an absolute profit of a similar value are present for the real USD account. The leverage of 1:200 is used for the account that started in May 2021. For an initial deposit of $5000, the profit gained is $368.88. A total of 369 trades have been completed with a profitability of 61% and a profit factor of 1.09. The drawdown for the account is 14.55%. From the trading history, we can see lot sizes ranging from 0.78 to 0.80 are used. While the profits are not high, the low drawdown indicates a low-risk approach that will help protect your capital. Further, comparing the stats with the backtesting results, it is clear that the backtests results do not match with real trading stats.
The FX robot has many features that indicate good risk management. The absence of grid, hedging, and martingale indicates the approach is not risky. News filter feature helps avoid order execution during the release of high-impact news. A trailing stop, dynamic SL, and dynamic TP levels are other features that help protect profits.
We found reviews for the Happy Forex company on the Trustpilot site. There are 13 reviews with a rating of 4.5/5. From the reviews, it is clear that customers are satisfied with the products of the company. They find them easy to use and provide stable profits.
You can purchase this FX EA for €299 (2 licenses)/ €499(4 licenses). The package includes 10 EAs of the company including Happy Market Hours. Besides the license, you get a complete user guide, free updates, and free upgrades. A 30% discount and 30 days money-back guarantee is also present. When compared to the average price of similar products in the market, we find the pricing is very affordable. Given the fact that you get 9 other EAs with the product and a refund offer, we find the price is worth it.