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#1 13-02-2024 21:43:29

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 3597
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Improve your trading with AvaTrade's Guardian Angel

Improve your trading with AvaTrade's Guardian Angel


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To achieve regular profits, a profitable trading system and good trading psychology are not enough. You need to have good risk management to minimize risks, ensuring the longevity of your trading efforts.

In line with this principle, the broker AvaTrade offers the Guardian Angel tool to help you implement risk management strategies.

In addition, this tool can analyse your trading results and give you insights into risk management and trading performance. How does this happen? Let's see below.

AvaTrade Guardian Angel: A brief introduction

AvaTrade Guardian Angel is a MetaTrader 4 "expert advisor" system that provides automatic professional advice in real time. It performs an up-to-date analysis of your trades, identifying systematic patterns in your trading and their correlation with market conditions.

In a few seconds, this AvaTrade tool allows you to better understand your trading habits and make informed decisions over time. This robust MetaTrader 4 add-on effectively filters out distractions so you can focus on the information essential to your trading success.

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Guardian Angel was designed with the following goals in mind:

Arrow Reduce trading risks by providing tailored advice and alerts.
Arrow Help traders recognize their mistakes and learn from them.
Arrow Build trader confidence through real-time analysis and support.
Arrow Deepen the link between traders and markets through comprehensive information.
Arrow Improve trading knowledge.

Once you have installed this free AvaTrade tool, you will find that it is customized specifically for you, providing unique feedback rather than a one-size-fits-all approach for traders.

Depending on your preferences and predefined settings, you will receive messages and alerts covering a wide range of issues, giving you an extra eye on the following topics:

Arrow High-risk situations
Arrow Market volatility during a trade
Arrow Setting stop-loss levels
Arrow Market alerts tailored to your trading needs
Arrow Strong/weak trading performance
Arrow Margin call notifications

Trading Tool Breakdown

Once the installation process is complete, the AvaTrade trading tool becomes active within the MT4 platform. To start using its features, users must agree to the terms of use. The main console can then be accessed or minimized via the taskbar icon.

Main Console

It serves as the main interface for messages, appearing whenever you open or close positions on the AvaTrade MT4 platform. Make sure this window is visible during your trading activities. Each message will be color-coded to indicate its severity:

Arrow Green for a positive indication.
Arrow Yellow for a moderate level of importance.
Arrow Red for potential danger.

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Let's now look at each function of the tool:

Arrow Navigation: Guardian Angel can display up to the last 10 messages. Use the arrows to navigate between old and new messages. For older messages, access the message log in the main console.
Arrow New message: A small envelope indicates an unread message. The number of unread messages is displayed next to the icon.
Arrow Learn more: To understand the reasoning behind the messages and explore best practices, click "Learn more" at the end of each message. This will take you to a learning center with detailed information on each message topic.
Arrow Delete message: If a message appears frequently and requires your attention, but you don't want to see it anymore, click "Delete message". The Guardian Angel will stop displaying it. To restore the message, go to Settings and click "Restore default messages".
Arrow Features: Clicking on notifications opens the main window with several options that will be developed in the next section.

AvaTrade Guardian Angel Features

    Market Sensor: Provides measures of current volatility for the markets you trade in three different time frames: the last hour, the last day and the last two weeks. It indicates the current volatility level and a Stop Loss "safe zone" in pips based on this level.

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    Statistics: Weekly statistics of your trades in AvaTrade are displayed in the main window.

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    Settings: Customize messages to your preferences, including selecting message topics and restoring default values.

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    Feedback: Use this option to share your impressions and experiences with AvaTrade Guardian Angel.

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    Chat: Access the chat with agents while trading.

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    Calculator: Calculate the stop loss based on account risk or market volatility for each instrument.

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    Desktop notifications: Messages appear when the Guardian Angel main console is closed, allowing you to see the beginning of each message. Click to open the main console.

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How will AvaTrade Guardian Angel improve your trading?

    Risk Management: Guardian Angel helps you trade with less risk. By setting appropriate stop-loss levels and identifying excessive risk, it acts as your safety net.

    Learning from mistakes: We all make mistakes, especially in the field of trading. Guardian Angel provides objective feedback on your trades, allowing you to learn from both your successes and your failures.

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"Anything worth having is worth going for - all the way." - J.R. Ewing

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