MT4 MetaQuotes Notifications Sending Setup

With TFT Omega going live, we need to highlight that it is built to also work with MetaQuote's Notification to supported MetaTrader 4 mobile app. TFT Omega would highlight and send out instance messages through the MetaQuote message platform.

Below are the steps to configure the Notification.

1. Open MT4 Client, go to the following Tab by Pressing Ctrl+O. Configure Notification tab as follow. Ensure you 'checked' Enable Push Notification to receive notification over MetaQuote mobile platform.

2. Go to your mobile phone and Open "MetaTrader 4" app, and locate 'Messages'

 

3. You will be able to find the messages pushed from TFT Omega in the Messages section. Below are some sample messages for reference.

MT4 Email Sending Setup

Another post for future reference purpose.

I have never needed to configure the email setup because manual trading rarely requires it. Most EA does not even bother with the email function, but as we are finalizing TFT Omega I have decided to put in the capability to provide a daily summary of where the account stands by email on a daily basis.

When an EA is configured to use 'SendMail()' the Email option has to be setup in MT4 client. MQL4 Function that requires Email capability:

bool  SendMail(
   string  subject,       // header
   string  some_text      // email text
   );

Configuring Email for MT4 is tricky, email on MT4 have its quirks and shortfall but there are plenty of ways to work around it. I chose the easiest way to do so, by using an email provider that does not enforce SSL for SMTP.

To configure the email setup, follow the steps below.

1. Open a free email account with www.gmx.com
2. Go to 'E-mail Settings' > 'POP3 & IMAP' of the account. Make sure 'Send and receive emails via external program' is checked.

3. Open MT4 Client, go to the following tab by pressing Ctrl+O. Configure the Email tab as follow and click 'Test'. 

4. The test result should show up in the 'Journal' section of the MT4 client. If test is unsuccessful, close the MT4 client and try again.

Swap in Forex Trading

What is swap? Everyone is aware that banks have interest rates but not every trader is aware that foreign currency trading have interest rates as well. When you buy a currency and sell another you will be impose with a specific swap rate. This swap rate varies from broker to broker and will be applied to your specific trade entry depending on your trade size.

Example when you buy AUDCAD you will be earning a specific interest/swap for the entry; but if you sell AUDCAD you would be paying a specific interest/swap to the position take.

Below is a screenshot of swap payment / benefit from some of my previous trade. Notice the swap column. If a trades is open over a day it would incur swap. You either earn money holding a position or lose money holding it.

Swap rate can really kill you, if you are trading against swap it would be best to exit the trade early. If you are trading with swap for you, this would allow you to hold a position much longer.

How to find out the swap rate and its direction for the trade.. below is some screenshot that will help you along the way.

1 - From the Market Watch section, right click and select Symbols.

2 - From the Symbol window, select the pair you wish to understand better. Click on 'Properties'. Another window will popup. Look for Swap Long/ Swap Short, that will show you the swap value if it is positive or negative. 

The swap value will change when the broker update it on their end. Some broker have these value update as frequent as daily others may do this month. Check with your broker to understand more.

-DC

Investor Password

With MT4 there are 2 types of password, the 'Master Password' and the 'Investor Password.

Master Password: Master password provide the user access to review and make trades. Only with the master password can the user have full access to the full account activity.

Investor Password: Investor password will only allow the user a view access to the trading account. The users will not be able to enter or exit any trade with investor password.

Do ensure to change the password and make them different. The investor password should be different so that it is not confused and will be use accordingly. Use the investor password to provide read only data access to your account for 3rd party group like MyFxBook.

-DC