You have the option to acquire Happy Gold as part of a bundle containing 10 trading robots, offering superior value compared to purchasing them individually. This bundle encompasses a range of robots, including Happy Gold, Happy Frequency, Happy Algorithm PRO, Happy News, Happy Market Hours, Happy MartiGrid, Happy Trend, Happy Way, Happy Fast Money, and Happy INDIcators PRO. In this review, our focus will be on the Happy Gold robot, designed for trading the XAU/USD pair.
The Happy Gold EA operates on the MetaTrader 4 trading platform and provides a straightforward setup guide, making it particularly suitable for novice traders. The MT4 platform is readily available for free download from most forex brokers. If you’re yet to establish an account with a broker, it’s advisable to consider factors such as narrow spreads, minimal commission fees, and ample liquidity to ensure optimal execution of trades at all times.
Live Results
The developers of Happy Gold have made efforts to offer real, Myfxbook-verified results, showcasing the recent performance of the EA. This serves as a valuable tool for assessing whether the EA’s performance metrics match your desired trading approach. It’s noteworthy to observe the impressive long-term profits and modest drawdown, which are comparatively lower than some other Happy Forex robots. However, it’s essential to recognize that these results are historical, and there’s no assurance of similar performance in the future.
Trading Strategy
Happy Gold operates as a fully automated trading system, relying on trend analysis, and executes trades on the XAU/USD pair within a 30-minute timeframe. It utilizes a customized version of the popular zigzag technical indicator, aiding in the identification of support/resistance zones and potential price breakouts. Notably, Happy Gold limits itself to a single open trade at any given moment and incorporates a stop-loss mechanism. Its take-profit levels adjust dynamically in response to market fluctuations, offering flexibility that contrasts with the rigid and inflexible nature of some other trading robots that strictly stick to predefined rules without considering varying market conditions.
The Happy Gold expert advisor evaluates charts for potential trading signals using its internal algorithm. Upon identifying a signal, it can initiate and manage trades on behalf of the user, with customizable settings to align with individual preferences. Personally, it is recommended to pair forex robots with an ECN forex broker due to their typically narrow spreads, minimal commissions, and dependable execution speeds.
For those who wish to retain some level of control over their trading activities, there’s the option to switch to semi-automated mode. In this mode, the Happy Gold EA notifies the user upon identifying a potential trading opportunity. Subsequently, users can decide whether to enter the market and set their own take profit and stop loss levels or wait for subsequent trading signals. While I prefer to validate each trade with my own market analysis, for individuals lacking the time or expertise for manual trading, this might contradict the purpose of utilizing a trading robot initially.
Back Testing
The Happy Gold Forex robot underwent testing with tick data during its development, achieving a modeling quality of 99.9% in the MetaTrader 4 strategy tester. However, it remains uncertain whether real variable spreads, swaps, slippage, and commissions were incorporated into the testing process. These factors significantly influence results, warranting a cautious interpretation of the outcomes. Given the potential for high spreads on the XAU/USD pair, it becomes even more imperative to conduct backtesting with variable spreads. Although the Happy Gold website features numerous backtests, the lack of recent updates is disappointing. Ideally, the Happy Forex team should offer high-quality backtests covering extended periods and update them more frequently. This would provide both new and existing users with a clearer understanding of the bot’s performance expectations.
Conclusion
In conclusion, there are numerous commendable aspects to appreciate about the Happy Gold robot. It adheres to prudent money management practices and boasts a proven track record of results. While it offers full customization options, it’s equally suitable for immediate use with default settings, making it convenient for individuals with time constraints. It’s advisable to review and potentially adjust the lot size as well as risk size before initiating trading activities.
The developers behind the Happy Forex robot consistently refine the code by introducing new features and addressing bugs, aiming to enhance the robot’s performance. This proactive approach reflects positively on the developer’s commitment to staying abreast of market developments. Nonetheless, there’s room for enhancement in the realm of backtesting, and some users may find that the Happy Gold EA trades relatively infrequently.
Happy Gold comes complete with an installation and tutorial guide, a MetaTrader 4 account license, complimentary updates and support, unlimited usage, and a money-back guarantee. Additionally, they offer other forex robots at a discounted rate which are purchased within the bundle of 10 forex robots.