The EA is based on a scalping strategy using identical 40 pips stop loss and take profit limits, resulting in a theoretical risk-reward-ratio of 1:1. Taking into account that Happy Market Hours frequently closes positions based on market conditions before these limits are reached, the risk-reward-ratio drops already during backtests to 2:1 and probably even more when traded live. Nonetheless, a stop loss limit of just 40 pips should be regarded as a very good value for a scalper.
Happy Market Hours provides a money management system and allows changing the predefined take profit and stopping loss limits. Furthermore, the trading hours can be freely adjusted and trading activities on Fridays can be restricted.
The Expert Advisor uses a maximum spread of 5 pips by default. It must be noted that this spread - particularly in the case of minor currency pairs - is not achievable by all brokers, not even during the active European or American sessions. During the rather quiet Asian session - anyhow characterised by wider spreads -, this limit will be breached yet more frequently. Therefore, overall live trading results as well as the number of trades should be expected to be lower than to be anticipated based on backtests alone.
EURUSD, EURCHF, EURGBP, EURCAD, USDCAD, USDCHF, GBPUSD, GBPCAD, GBPCHF, CADCHF
20:00 - 23:00 GMT
EUR 199 for the all-in-one licence, currently including six Expert Advisors.
Payment through RegNow.
Voucher for a 10% discount: FXGE-6IPW-GTMH
The developer grants an unrestricted right to return within 30 days of purchase which will be paid back through RegNow.
The licence is valid for an unlimited number of live and demo accounts. The licence key for the first month is included in the installation package. After the refund period new licence keys will be provided by email on a yearly basis.
A 10-pages manual explains briefly the installation and set up of Happy Market Hours, the input parameters and their impact.
The performance of Happy Market Hours is demonstrated, as follows, on a live account of the developer.
Happy Market Hours backtests for some of the supported currency pairs for the period 2009 - 2013 are shown below. This sample is not a result of an active selection with respect to performance but merely a result of the availability of historic price data. Other pairs might be added later.
EURUSD, spread: 2 pips, risk: 5%
EURCHF, spread: 3 pips, risk: 5%
EURGBP, spread: 3 pips, risk: 5%
GBPCAD, spread: 5 pips, risk: 5%
GBPUSD, spread: 3 pips, risk: 5%
USDCAD, spread: 3 pips, risk: 5%
USDCHF, spread: 3 pips, risk: 5%
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