Argo Guardian - Your Private Equity Controller

You open a trade, set stop loss to 3% from deposit; you do all by the textbook. The price goes against you, you decide to move the stop, then do it again and again… And eventually planned loss of 3% becomes a loss of 20%. Is it familiar?

Or your Expert Advisor goes crazy and due to a system error opens a trade without a Stop. And the next morning you find that the price has gone somewhere far from your order…

Let’s face it: we all need a hard overseer with a club who will beat us on the hands when we do foolishness in our account. However, it is possible to fight with psychological problems through technology.

Today we will talk about the Advisor-assistant ArgoGuardian from our friends from ArgoLab, which will not let you risk in vain, and will also help to overcome the greed regarding profit.

 

The typical behavior of the trader

How do the Forex traders usual behave in the situation of drawdown? Let’s consider a typical situation. For example, you decide to trade with a risk of 3% from your deposit. You open a position to BUY, but the price starts moving in the opposite direction and is already about a Stop. At this point the “brilliant” idea comes to your mind, to remove the StopLoss, in case you will be lucky and the price will reverse in the other direction. Naturally, this does not occur usually, and a perfectly acceptable loss in 3% turns into 10% or even 20%. Unfortunately, this problem applies not only to beginners but also to advanced traders.

It is obvious that we lack control. It’s all in human nature, there’s nothing you can do about it. But, the EA helps and takes the responsibility to limit the losses on your account. You can specify any restriction, 5%, 10% or 20%. Let’s say you opened a position and decided to remove StopLoss. Then the EA will still close the position when the maximum loss. Thus, the Advisor retains your Deposit and, at the same time, it teaches us to control losses.

Working with EAs and Hedging

Sometimes there is a situation where several different EAs, running on one account, start to conflict. To save yourself from various force majeure situations, you can set a maximum limit for the total loss on the account, for example, it can be 20%. If the loss reaches 20% of the deposit, the EA will close all open positions. Set the flag CloseCharts to close all active charts, and the flag AutotradeOFF to disable auto-trading after fixing of profit or loss. Thus, the trading activity of all EAs on the account is completely blocked and this allows you to regain control over the account.

Also, Argoguardian has a function of hedging orders. In this case, instead of closing a losing trade, the EA will just open the opposite one. Let’s say, we have the unprofitable position to BUY. Then, the EA will open a position to SELL with the same amount, thereby fixing the loss at the same level. Of course, the exit from the “hedge” is the hardest part. There is much dispute about it. This is a big topic and requires separate discussion. Only you can decide whether you will use hedging or not.

Installation

Unpack the archive into the Open Data Folder of the Metatrader 4 terminal. After the EA appeared in the Navigator window, run it, drag it from the Navigator window to the chart.

Do not forget to specify the settings on the trading permit and libraries import.

 

Settings of the EA

• Logic

Here you need to specify the currency pairs which the EA should consider and what to do after the profit or loss.

Symbols – positions of the symbols that the EA should take into account: All – monitor the drawdown on all symbols; ThisSymbol – consider only the current symbol; MaxDDSymbol – consider the symbol with the maximum drawdown.

Magic – Specify the magic of the EA, the order of which you want to monitor. In this case, the position of the other EAs will not be considered. If 0 is set, the EA will consider only manual orders and it will ignore auto-orders. To cancel the restrictions set the value less than 0.

UseLock – use hedging.

AutotradeOFF – press the button to turn off the automated trading.

CloseCharts – close all active charts after fixation of profit/loss.

• Target profit

  Settings of restrictions on profit.

TProfit – level of profit in the money.

TProfitPerCent – level of profit in % of the deposit.

TProfitEquity – the specific value of equity, upon achievement of which profit will be locked.

SendEmailOnTP – send a notification by e-mail, if the profit was locked.

• Stop Loss

  The setting of limits on the loss.

MaxDD – level of maximum drawdown in the money.

MaxDDPerCent – level of maximum drawdown in % of the deposit.

MaxDDEquity – the specific value of equity, upon achievement of which a loss will be locked.

SendEmailOnSL –send a notification by e-mail, if the loss was locked.

• Equity trail

The setting of trailing stop.

EquityStartTrial – profit value after which the EA should start trailing.

RollBackPercent – level of rebound, after which the EA closes trades.

RollBackEquity – the value of equity at which the EA closes trades.

• Email notification

Settings of notifications by e-mail.

MaxDD_Email – level of drawdown in the money.

MaxDDPerCent_Email – level of drawdown in % of the deposit.

MaxDDEquity_Email – the concrete value of equity when reached, a letter will be sent.

• Miscellanea

RefreshSec – frequency of updates in seconds.

MagicLock – magic of the hedging order.

 

Conclusion

The EA ArgoGuardian will be interesting not only for beginners but also for professional market participants. The product opens up opportunities for experimentations with martingale and with different grid strategies. ArgoGuardian helps to reduce the time spent on monitoring of charts. Therefore, it will be a good assistant for long term traders who trade with the trend. The Advisor will help the beginners to get rid of the human factor, as well as to overcome fear and greed.

 

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