The Happy Martigrid EA Pack is a collection of forex robots that come from the stable of the HappyForex trading team. The primary robot in this pack is the Happy Martigrid EA, which has been on the market for 6 years. This review will examine this EA and see if it is a trading robot that you can trust or not.
Happy Martigrid EA Pack: To Trust or Not to Trust?
Can the Happy Martigrid EA Pack robot be trusted? The answer to this question is provided by our team, after a thorough review of the trading performance and other metrics around this robot.
We have decided to give this robot a very guarded pass mark, which means it is a robot that can only be trusted under certain conditions. This assessment and verdict has been given as a result of the following:
- Profitable trading history, but with a number of issues
- Dwindling performance in 2019.
- Cannot be used on accounts with small capital.
Let’s look at the metrics one after the other.
Profitable Trading History, But This is Conditional
The Happy Martigrid EA Pack features various robots (9 of them) that show varying degrees of profitability. However, the strategies are based on a Martingale system, which basically doubles the stake after a losing trade. A Martingale strategy will always be successful as long as there is enough capital to double on the next trade following a losing one. Eventually, a winning trade will erase all previous losses that occurred just before it.
But the question is: how many traders can muster the capital that is required to keep a Martingale strategy running long enough to overcome any sustained losses? As we will also point out later on, this strategy cannot work on accounts that are less than $5,000.
Furthermore, leverage used on the accounts was 1:500. Trading with this EA under UK/EU leverage conditions (limited to 1:30 for FX majors such as the AUDUSD which the Happy Martigrid EA focuses on) will require way too much capital to run the EA; something most retail traders cannot afford.
Dwindling Performance in 2019
A study of the Myfxbook monthly performance data for Happy Martigrid EA Pack shows that the performance of 2019 has not been good. As can be seen from the snapshot below, profits have dwindled considerably in 2019. This is also at variance with 1st quarter performances in previous years, where profits gained were much better.
We can also see that the level of profits made has been reducing over time. For instance, 2019 has only seen monthly gains in the 1st quarter of 0.85%, 0.43% and 0.1% for January, February and March. But there were some years where profitability was as high as 5% in the same months. This calls for some concern as to whether the strategy used by the robot can continue to withstand evolving conditions in the FX market.
Requires Large Capital to Operate
The software requires the use of large capital to trade. A study of the trading history and patterns of this software shows that this software’s strategy will be hard pressed turning a profit if it is used with an underfunded trading account. So if you cannot muster at least $5,000 in your trading account, then Happy Martigrid EA is probably not for you.
Conclusion: To Trust or Not to Trust?
Happy Martigrid EA Pack is a collection of forex robots which can only be trusted to work when there is enough capital for the EAs to run the Martingale strategy. If this condition is not met, there is always the danger that a string of losses will damage the account beyond repair. That is why we declare that the Happy Martigrid EA pack can be trusted, but only under certain conditions.