Trade Assistant MT4 – A Powerful Trading Utility for MetaTrader 4

Trade Assistant MT4 is a versatile trading utility designed to streamline order management and enhance the efficiency of manual trading in the MetaTrader 4 platform. Developed by Evgeniy Kravchenko, Trade Assistant MT4 packs over 65 features into an intuitive interface to simplify even the most complex trading tasks.

Trade Assistant MT4

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Trade Assistant MT4 Overview and Key Features

At its core, Trade Assistant MT4 aims to eliminate the hassle of manual calculations and order management in MetaTrader 4. It enables swift execution of trading operations that would otherwise require multiple steps. From risk management to complex order types and automatic trade functions, Trade Assistant MT4 strives to save traders time while boosting precision.

Here are some of the utility’s standout features:

  • Risk and Money Management – Calculates position sizing based on account balance and risk. Allows setting a risk/reward ratio.
  • Pending and Market Orders – Opens, modifies and closes market and pending orders with ease.
  • Partial Close – Closes only a portion of an open position.
  • Multiple Take Profit Levels – Sets multiple profit targets for a single position.
  • Trailing Stops – Trails stops automatically based on various indicators like price action, Moving Averages, SAR, etc.
  • Break Even – Shifts stop loss to entry price to lock in profits.
  • OCO Orders – Cancels pending orders automatically if one triggers.
  • Scheduled Orders – Opens or closes orders based on time.
  • Push Notifications – Sends mobile alerts for key events.

With over six dozen functions spanning risk management, order execution, position management, and account administration, Trade Assistant MT4 aims to be a trader’s complete solution for conquering MetaTrader 4.

Ease of Use

Despite its vast feature set, Trade Assistant MT4 offers remarkable simplicity and intuitiveness. The utility opens as a compact panel that can be moved across the MetaTrader 4 window or detached into a separate window.

The panel employs a clean tab-based interface to avoid clutter. Key features are grouped logically into tabs like Risk Management and Trade Functions. Interactive elements like buttons and input fields are clearly labeled, with handy tooltips providing guidance.

Overall, Trade Assistant MT4 manages to pack an incredible level of functionality into a surprisingly minimalist panel. The learning curve is gentle even for novice traders. Meanwhile, the customizability and shortcut keys cater to advanced traders.

Top Features

While the utility packs dozens of excellent features, here is a deep dive into some of its most popular and practical tools:

Risk and Money Management

Trade Assistant MT4 takes the guesswork out of position sizing. Its risk management toolkit allows quickly calculating lot sizes based on account balance, stop loss size, and acceptable risk. You can save preset risk profiles for different strategies or market conditions.

The panel also enables easily setting a risk/reward ratio. For instance, you can specify that your target profit should be twice as large as the stop loss size. The utility then automatically calculates lot size and take profit level accordingly.

Such tools eliminate manual calculations, ensuring quick order execution while adhering to your risk parameters.

Pending and Market Orders

Executing pending and market orders is a breeze with Trade Assistant MT4. Simply use the intuitive order entry form to set order type, direction, volume, stop loss, take profit etc. One-click order execution prevents redrawing tools or fiddling with the MetaTrader 4 order window.

Modifying or closing orders is equally simple. The utility lists all open positions with their current profit/loss status. Close or edit orders individually or by order type in a single click.

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Trailing Stops

Trade Assistant MT4 offers seven types of trailing stops including price-action, Moving Averages, Fractals, Parabolic SAR and more. You can specify trailing stop parameters like activation price and step size for each stop type.

Trailing stops adjust automatically once order profit reaches the activation price, locking in profits while riding market swings. Such automation eliminates the need for constant manual adjustment.

Partial Close

Closing only a portion of an open position is a breeze with Trade Assistant MT4. Simply specify what percentage of position volume you wish to close. The utility will automatically close the specified lot portion, while keeping the rest of the position open.

Partial closes allow progressively locking profits while keeping exposure to benefit from further favorable moves. Such flexible position management is difficult to achieve manually.

Real Trader Reviews

Trade Assistant MT4 enjoys a stellar reputation amongst MetaTrader 4 users. It holds a flawless 5/5 rating based on over 850 reviews on MetaQuotes’ Market portal. The positive sentiment stems from the utility’s effectiveness in enhancing order execution and management.

As per user reviews, Trade Assistant MT4:

  • Greatly simplifies the order management process
  • Eliminates the need for difficult manual calculations
  • Enables effortless automation of routine trade management tasks
  • Helps minimize errors stemming from manual processes
  • Boosts the precision of trading operations like risk management and order modification

Many reviewers specifically praise the utility’s ease of use despite its vast capabilities. The utility manages to balance simplicity and customizability – catering to both casual and advanced traders.

Trade Assistant MT4 Pricing

Trade Assistant MT4 is affordably priced at $199 for a single license. Upgrades to newer versions are free once licensed. Considering the utility’s capabilities in automating complex trading tasks and boosting efficiency, the price tag seems reasonable.

A free demo version with unlimited usage time is also available. The demo is fully functional but trades cannot be executed. The demo allows assessing compatibility and suitability before purchasing.

Trade Assistant MT4 Verdict

Trade Assistant MT4 manages to effectively tackle the most common pain points in manual trading. Features like risk management, order automation, trailing stops and partial close help streamline complex workflows. The utility enhances precision, while saving effort and time.

Despite its sophisticated capabilities, simplicity and intuitiveness are Trade Assistant MT4’s strongest suits. It offers a gentle learning curve even for novice traders. Meanwhile, the vast customizability caters well to advanced traders.

For traders who rely on manual execution in MetaTrader 4, Trade Assistant MT4 is an invaluable addition. It eliminates tedious grunt work, allowing focusing energy on analysis and strategy.

Overall, Trade Assistant MT4 excels in boosting the efficiency of order execution and management in MetaTrader 4. For manual traders, it is an essential arsenal item allowing to trade smarter. Its reasonable pricing and free demo option also facilitate easy adoption.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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