AvaTrade's Guardian Angel is a free risk management tool offering instant feedback and tailored alerts for MetaTrader4 users. Let's learn how it can enhance your trading performance.
The primary goal for traders is to achieve consistent profit. However, to achieve consistent profit, a profitable trading system and good trading psychology are not enough. You must have good risk management to minimize risks, ensuring the longevity of your trading endeavors.
In alignment with this principle, AvaTrade broker offers a Guardian Angel tool to assist in implementing risk management strategies in your trading endeavors.
Moreover, this tool can analyze your trading outcomes and offer insights on both risk management and trading performance. How so? Let's explore below.
AvaTrade Guardian Angel: A Brief Intro
AvaTrade Guardian Angel is an expert advisor system for MetaTrader 4 that provides automatic professional guidance in real time. It conducts updated analysis of your trades, identifying systematic patterns in your trading and their correlation with market conditions.
In just a few seconds, this AvaTrade tool offers insights into your trading habits and informed decision-making over time. This robust MetaTrader 4 add-on effectively filters out distractions so you can focus and concentrate on essential information pivotal to your trading success.
Guardian Angel is crafted with the following objectives in mind:
- Reduce trading risks by providing tailored guidance and alerts.
- Help traders recognize and learn from mistakes.
- Boost trading confidence through real-time analysis and support.
- Deepen traders' connection to the markets with comprehensive insights.
- Enhance trading knowledge.
Once you've installed this AvaTrade free tool, you'll find that it's customized specifically for you, providing unique feedback rather than a one-size-fits-all approach for traders.
According to your predefined preferences and settings, you'll receive messages and alerts covering a range of issues, serving as an additional set of eyes for the following matters:
- High-risk situations
- Market volatility during a trade
- Establishing stop-loss levels
- Market alerts tailored to your trading needs
- Strong/weak trading performance
- Notifications for margin calls
Breaking Down the Trading Tool
Once the installation process is complete, this AvaTrade trading tool becomes active within the MT4 platform. To begin utilizing its features, users must agree to the terms of use. The main console can then be accessed or minimized via the tray icon.
To access the main console, simply click on the tray icon located on the taskbar of your desktop.
Main Console
This serves as the primary interface for messages, appearing whenever you open or close positions on the AvaTrade MT4 platform. Please ensure to keep this window visible during your trading activities. Each message will be color-coded to indicate its severity level:
- Green for positive indication.
- Yellow for a moderate level of importance.
- Red for potential danger.
Now, let's examine each function of the tool:
- Navigation: Guardian Angel can display up to the latest 10 messages. Use the arrows to navigate between old and new messages. For older messages, access the Message Log in the main console.
- New message: A small envelope signifies an unread message. The number of unread messages is displayed next to the icon.
- Learn More: To understand the reasoning behind messages and explore best practices, click "Learn More" at the end of each message. This directs you to a learning center with detailed information on each message topic.
- Remove Message: If a message appears frequently and requires your attention, but you no longer wish to see it, click "Remove Message." Guardian Angel will stop displaying it. To restore the message, access Settings and click "Restore Messages Default."
- Features: Clicking on notifications opens the main window with several options that will be expanded in the next part.
AvaTrade Guardian Angel's Features
- Market sensor: Provides current volatility measurements for the markets you're trading in three different time frames: last hour, last day, and last two weeks. It indicates the current volatility level and a Stop Loss "safe zone" in pips based on this level.
- Statistics: Weekly statistics of your trades in AvaTrade are displayed in the main Guardian Angel window.
- Settings: Customize Guardian Angel messages based on your preferences, including selecting message topics and restoring defaults.
- Feedback: Use this option to share your thoughts and experiences with AvaTrade Guardian Angel.
- Chat: Access chat with agents while trading.
- Calculator: Calculate stop loss based on account risk or market volatility for each instrument you're trading in AvaTrade.
- Desktop Notifications: Messages will appear when Guardian Angel's main console is closed, allowing you to see the beginning of each message. Click to open the main console.
How AvaTrade Guardian Angel Will Elevate 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 trading. Guardian Angel provides objective feedback on your trades, allowing you to learn from both successes and failures.
- Boosted Confidence: Knowing that Guardian Angel is watching over your trades could increase your confidence. It's like having a seasoned mentor by your side.
- Market Insights: The tool delivers relevant market alerts, keeping you informed about market conditions and potential opportunities.
- Continuous Improvement: Trading is a process of growth. Guardian Angel ensures that even experienced traders have room for improvement.
Pros and Cons of Using AvaTrade Guardian Angle
| ✔️Pros | ❌Cons |
| Risk Mitigation: Guardian Angel helps prevent catastrophic losses by alerting you to risky situations. | Not a Substitute: While Guardian Angel is valuable, it should complement your analysis, not replace it. |
| Objective Feedback: It provides unbiased feedback, helping you fine-tune your strategies. | Dependency: Relying solely on the tool may hinder your independent decision-making. |
| Customization: Tailor the tool to your specific needs and preferences. | Learning Curve: New users might need time to understand and configure the settings. |
| Educational Value: Learn from your mistakes and refine your trading skills. |
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
Final Thoughts
AvaTrade Guardian Angel is more than just a risk management tool; it's a trading companion that empowers you to make smarter choices. Whether you're a beginner or a seasoned trader, consider integrating Guardian Angel into your trading routine.
Remember, successful trading is a blend of knowledge, discipline, and the right tools. With Guardian Angel, you're one step closer to elevating your trading game.
So, download the Guardian Angel add-on from AvaTrade, fine-tune your settings, and let this digital ally guide you toward profitable trades. Happy trading!
AvaTrade is an innovative global forex and CFD broker that offers a diverse range of trading services as well as instruments with some of the most competitive commissions in the industry. It is known as a trustworthy brokerage firm, suitable for beginners and professional traders alike. Some other defining points include easy deposits and withdrawals, an intuitive mobile app, and fast execution.