PGuard Basic: Real-time drawdown dashboard and lot-sizing for MT5 prop traders

PGuard Basic review 2026 performance analysis begins by highlighting its primary function as a decision support tool for prop firm traders. PGuard Basic provides continuous visualization of your daily and overall drawdown, and this review examines how that visibility changes behavior under funded account rules. The analysis focuses on measured outcomes such as reduced position sizing errors and clearer risk budgeting in live trials. PGuard Basic integrates directly with MetaTrader 5, reads account equity and open positions, and overlays drawdown exposure so users can see the effect of trades before execution. In this review and performance analysis for 2026, PGuard Basic distinguishes itself by being free and focused on drawdown management rather than automated trade entry. The module calculates exact lot sizes compatible with configurable custom presets and shows the remaining drawdown budget after a hypothetical order. The algorithmic logic is straightforward: compute current equity relative to starting and daily peak levels, apply preset limits, then derive lot sizes that maintain those limits. PGuard Basic performs best in high-liquidity FX pairs and intraday setups where quick position sizing decisions are common. Developers led by Richard Heronimus Oehmig Kuhn emphasize transparency, simple calculations, and robust parameter customization within the MT5 environment.