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Today I’m reviewing a new EA that uses a hedging approach to take advantage of high impact market events, Happy News EA. This system is built to automatically trade the news and “regardless of the outcome of the release,” they believe that their hedging strategy will ensure a positive outcome. I’ll analyze this strategy, and anything else this developer has to offer in this comprehensive review.
The creators of this system, currently have over 9 EA’s available, as well as a handful of pro-indicators which they are all selling as one package. Today my focus will be on the news trader, but I may circle back and take a look at some of these products in the near future. It is unknown who is really behind these systems, because they do not provide us with any introduction, but traders can contact them via the email form on their sales page.
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Contents
Happy News EA Review
In order for the Happy News EA to work properly, it downloads news events directly from the Forex factory calendar. This news is then placed directly on the chart, and the trader can decide between the type of news they want to trade. You can trade high impact, medium impact, low impact, or even just speeches. There is also the option to have the EA only trade news that is related to the pair that you are trading, which I would certainly recommend. My other recommendation, would be to focus on trading high impact news events, because these are the events that have the most impact on the markets, and it does seem like this system benefits from volatility, as any news trader would.
For some reason in the features section, we are told that the system does not use any hedging. Yet, this contradicts with the fact that explicitly say that “the robot places pending orders in both directions.” That is essentially the definition of hedging, so I would like to have some sort of clarification regarding the strategy moving forward.
Breakdown
- Type: Forex Robot
- Price: €199
- Strategy: News Trading
- Timeframe: M15
- Pairs: EURUSD, GBPUSD, AUDUSD, USDJPY
The Happy News EA is being sold in a package for €199. In this package, traders get access to 9 expert advisors with different strategies, and a couple of indicators as well. I mentioned above, that I may come back to this website and take a closer look at some of the other expert advisors if this one proves to be successful. One of the positives, is that when you do sign up, you gain access to one license that can be used on an unlimited number of live or demo accounts. There is a 30 day money back guarantee as well.
Trading Results
The vendor provides us with a Myfxbook account that has been running since late February 2016. This is a good sample size, and during this time the EA has gained slowly but steadily to 131% profit. This makes for a monthly gain of just over 4%, and a drawdown of 6%.
It seems as though the Happy News EA is using a scalping approach alongside their news trading. The average win is just over 5 pips, and the average loss is 15 pips which makes for a risk reward ratio of about 3 to 1. With 10 of the last 15 trades being winners of just a single pip, the approach definitely looks more like a scalper than anything else. Many of these trades are lasting just under 30 seconds, so that will make this system quite spread dependent.
In looking at the monthly analysis, it seems as if the expert advisor was much more profitable in 2016. In the past 7 months, the EA has gained around 6% in total profit, where in the past the software was regularly gaining anywhere between 8 to 10% per month. It’s possible that the best days for this trading software are behind it, or it’s possible that Happy Forex just need to make some adjustments.
Conclusion
There are both positives and negatives when looking at the Happy News EA. I certainly appreciate the long sample size being provided to us when it comes to the trading results, but it’s almost a catch-22 for the vendor in this case. I say that because in analyzing the data completely, we can see that the software is an exactly performing the way that it used to. That being said, the system is still winning, and that’s a good sign.
If you have anything you would like to add, please leave your questions and experiences below.
