Happy Gold is a Forex robot that works on both Metatrader 4 and Metatrader 5. It has been live trading for quite some time now and the vendor has added multiple updates for it. However, it remains to be seen whether the EA can truly generate consistent profits.
Happy Gold is a product from the Happy Forex team, which is based in Germany. We don’t have much information on the developers working for this company, and there is no contact information shared on the official website. Other EAs developed by this team include Happy Breakout, Happy Neuron, Happy Power, Happy Trend, Happy Way, etc.
Happy Gold strategies and tests
This robot uses a combination of scalp, swing, and grid news strategies. It uses a ZigZag indicator to spot trading opportunities for XAU/USD for different timeframes like M15, M30, H1, and H4. This indicator joins the two ends of the chart and makes decisions based on whether the distance between the points is equal or higher than the price level.
The EA uses dynamic take-profit levels and hard stop losses depending on the market sentiment. According to the vendor, you should use an ECN broker with low slippage while trading with this EA. You can run the software on different operating systems like Linux, Mac OS, and Windows 7, 8, 10. To get started, you need to make a minimum deposit of $100.
Happy Gold can perform auto-quotes detection of 4 or 5 digits. It is a fully automated system that does not use dangerous strategies like martingale, grid, and hedging. When you purchase the EA, you get a user guide in English containing the installation and operation instructions.
On the official website, the vendor has shared multiple backtesting results for different risk levels. Here, we have the results for a backtest conducted from 2010 to 2017 with a 5% risk level. The EA used a deposit of $100 for this test, generating a total profit of $43,919,777.85.
The daily and monthly profits generated by Happy Gold were 0.49% and 15.88%, respectively. We can see a high drawdown of 22.88%, which indicates a high risk of ruin. The win percentage for this backtest was 93%, while the profit factor was 4.48.
Happy Gold live trading account review
This is a live trading account on the Myfxbook website that has been conducting trades since March 04, 2019. The EA has placed 785 trades through this account, winning 65% of them, resulting in a profit of $10147.09. Here, the drawdown of 28.81% is even higher than what we saw in the backtests, implying a high-risk trading strategy.
For this account, the daily and monthly gains are 0.27% and 8.43%, respectively, while the profit factor is 1.52. The absolute gain and time-weighted return both stand at +1014.71%.
Here we have the recent trading history for the expert advisor. As you can see, it has suffered multiple consecutive losses in recent times, which confirms our suspicion that the robot trades with high risk. Due to the dismal trading performance, we cannot consider this a profitable system.
The pricing for this product depends on the number of real account licenses that are provided. For 2 licenses, you need to pay 299 Euros, while 5 licenses would cost you 499 Euros. This is not exactly cheap compared to other EAs on the market. There is a 30-days money-back guarantee for this robot.
Is Happy Gold robot a scam?
Happy Gold is an overpriced robot that trades with high risk. The vendor promises stable profits with this system, but the live trading statistics tell a different story. Thus, we think there is a high chance of it being a scam.
No user reviews for this robot exist on trusted third-party websites like Trustpilot, Forexpeacearmy, Myfxbook, and Quora. Clearly, it hasn’t managed to carve out a reputation for itself.
When you purchase this system, you get the EAs Happy Forex Full Pack containing 10 different EAs. The license is for the initial month, after which the customer receives a free lifetime license.