Prop Firm Risk Guardian Daily Loss Drawdown

Prop Firm Risk Guardian is a free prop firm risk manager for MetaTrader 5, a risk management panel built for a funded account or a challenge account. It shows in real time how close you are to breaching your daily loss limit and your trailing max drawdown, counts down to the daily reset, and works out the largest lot size your own rules allow right now, so the lot you type into the next order is one your remaining buffer can absorb if the stop is hit. Pick a preset for a 2-step, 1-step or instant challenge, or enter custom rules, and a single status, SAFE, CAUTION or LOCKDOWN, tells you when to ease off.

What it tracks
It tracks the three numbers that end challenges: your used daily loss against the limit, with the remaining buffer and a reset countdown; your maximum drawdown on a trailing high-water-mark basis or static-from-initial, switchable on the panel; and your progress toward the profit target. A single status - SAFE, CAUTION or LOCKDOWN - colours the status strip and accents so you feel the risk at a glance.

MAX LOT NOW
The centrepiece is MAX LOT NOW: the largest lot your own rules allow right now. It is back-solved with the platform's own profit calculation from the smaller of two amounts - your per-trade risk percent of balance, and the buffer fraction of whatever is left before the binding limit - then capped by the hard lot cap and rounded down to your broker's lot step. It is a ceiling, not a recommendation. Drag the stop-distance bar and watch the lot resize live. What you see is a ceiling worked back from your risk percent, stop distance and remaining buffer; the panel does not stop or limit manual orders or orders placed by other EAs. In CAUTION, MAX LOT NOW is halved (an input, 0.5 by default; the label says so).

The panel
A clean rounded card that you can drag, resize (S / M / L / XL) and snap to a corner - it remembers its position. Four rule presets: 2-step (daily 5 percent / max 10 percent), 1-step (3 / 6 percent), instant (4 / 8 percent) and custom, plus an account-size input for the starting balance. Bilingual English / Japanese, amounts computed in your account currency. Lightweight, no DLLs - and free.

How to use
Drop it on any chart of your funded or challenge account, pick a preset or set custom rules, choose your stop distance with the slider, and trade within the buffers - the status tells you when to ease off.

Prop Firm Risk Guardian PRO
Prop Firm Risk Guardian PRO is a sister product that acts on the same numbers: the instant a daily-loss or drawdown limit is hit, it sends a close order for every open position on the chart symbol and refuses its own BUY / SELL buttons for as long as the account stays past the limit. The user guide linked below compares the two.

Important: MetaTrader has no pre-trade hook for manual orders, so the PRO guard reacts - it sends close orders after a breach is seen on a tick. It is a safety net, not a lock that prevents you from clicking, and because it acts after the fact, slippage, a weekend gap or a disconnection can still leave the account past the limit. Since version 1.17, both versions leave a withdrawal made after the daily reset out of the daily loss, but they still measure the max drawdown and the target from the fall in equity, so a withdrawal still counts there and a deposit counts as a gain: on a day you withdraw, the drawdown can still reach LOCKDOWN, and PRO then closes the positions it is set to close (the chart symbol by default). The drawdown keeps counting the withdrawal until you take a fresh baseline with the Re-take the account baseline now input in the Baseline group. This is a utility; the free version places no trades of its own and makes no profit claims. Every input and every row of the panel is explained in the user guide on the author's blog: Prop Firm Risk Guardian user guide