UPDATE: (4/25/11): The free option is not working anymore. The only way to setup text message alerts is by following the instructions in this post:
In a previous post, I showed you how to setup Metatrader text message alerts for free. Now before you click over there, I want you to understand that if you are serious about your trading, free is NOT the best solution.
Sure, in most situations free is great! Believe me, I am all about free. As much as possible, I try to find free or inexpensive products whenever I can.
Free is Not Always Best
However, sometimes you really do have to pay and this is one such case. Why?
First of all, there was only one free email provider that I found that would allow the kind of connection that Metatrader needs to send text messages to my mobile phone. Therefore if that service ever decides to stop allowing this access, you will not be getting your trade alerts.
Secondly, since the email server you are using is free, the hosting company has no real motivation to solve issues in a timely manner or provide good customer service.
Therefore, in this post I'm going to show you how I setup Metatrader Text Message Alerts. Although it will cost a few bucks a month, it is well worth it.
If You Do Not Have a Website
If you already have a website or blog, then skip to the next section for further instructions. If you don't, then you need to sign up for some sort of email or website hosting.
I'll be honest, I have not completely researched all the options out there. Quite frankly, I don't have the time and even if I found something cheaper, it would only be by a couple bucks a month.
So it's not worth obsessing over a few dollars, in my opinion. That time could be better spent backtesting or logging your trades.
I can only tell you what I have tried and this works for me. It is affordable and has been solid over the three years that I have been using it. Just keep in mind that there are other ways to do it, but this is what I know.
I have been using HostGator for website hosting and email. Their plans are very affordable and their customer service is excellent.
I have also worked out a deal with them where you can get an extra $9.94 off any hosting package that you buy. It's not much because their prices are already low but every little bit helps. Use the coupon code:
TRADINGHEROES
Just get a simple “Hatchling Plan.” Click here to sign up for an account.
Here is a quick tutorial video on what to do:
Once you do that, you can move on to the next section below.
If You Already Have a Website
If you have an existing website or blog, then the rest is easy. Just setup a new email address. Here is a quick video on how to do it in HostGator:
UPDATE: (4/09/13): Now you also need to disable SPF (Sender Policy Framework) in HostGator for this to work. Please keep in mind that disabling this feature opens you up to potential hacking, so be sure that your password is super strong. In your HostGator Control Panel, go to Mail –> Email Authentication –> SPF –> Click the Disable button. This change may take some time to kick in, so be patient. Go get a beer and come back later to try it again.
If you have a different host, it is probably very similar.
Now Setup Metatrader
OK, almost done. Now we just have to setup Metatrader. This is how you do it:
UPDATE: (4/09/13): Now you also need to add a 26 port number for this to work. So the “SMTP Server” line on the setup screen would be:
mail.your-domain.com:26
Click here to see a list of email addresses to send text messages to different mobile phone carriers.
Almost Done
Now test it out:
That's it! Pretty simple huh?
If you want to learn how to create an inexpensive dedicated Metatrader computer that is always on and will send you text messages 24 hours a day check out this article.
Disclosure: Some of the links above are affiliate links in which I get a commission if you purchase through those links. It doesn’t cost you anything extra and part of my commission goes to support Kiva.