How to set up monitoring of your account on MyFxBook

I think many of you have heard more than once about the importance of keeping a trading diary. Keeping track of and analyzing the trading activity on your account, whether you trade with the help of advisors or manually, is very, very useful.

But if you analyze reports from the terminal manually, it will be a very long and tedious task. Fortunately, there is a statistics service called Myfxbook that performs all the analytics of your trading activity automatically. You only need to provide the service with the report data from the terminal.

In today’s lesson, we will talk about how to connect your MT4 / MT5 account for monitoring on Myfxbook, how to make it public and what to do if monitoring is not updated.

Why do you need monitoring?

Monitoring the account on MyFxBook allows you to build not only a visual graph of profits and losses, but also find noteworthy nuances of your trading system. For example, there is a distribution of profits and losses for individual currency pairs, days of the week, and even hours.

With the help of monitoring analysis, you can find out, for example, that trading GBPUSD on Tuesday is not the best idea for your robot and it is better to turn it off at this time.

You can also share the monitoring. For example, on the forum. Which is also very convenient.

In general, a useful thing)

Registration on the Myfxbook website

We register on the website http://www.myfxbook.com
After registration, click Settings -> Add account

There are several ways to connect an account.

If you are using MT5, then there is only one way - using an special expert advisor. There are more options for MT4.

Let’s take a look at them all separately.

Connection via an expert advisor (MT4 / MT5)

We will analyze the connection through an Expert Advisor for MT4, for MT5 the process is very similar, only the EA Installer program is different.

1) So, after clicking the “Add Account” button in the Settings section, select Metatrader 4 (EA).

2) The .exe installer of the expert advisor will be downloaded to your computer. Run it (as administrator) and in the window that appears, select the folder with MT4 where you want to install the advisor. If the terminal folder was not found automatically, you need to add it using the Add button.

3) Next, click the Install button and the advisor will be installed in your trading terminal. If you had it open, the terminal needs to be restarted.

If for some reason you failed to install the advisor via Installer, then on this page below you can download the advisor and the library for it and install it manually.

4) Attach the advisor to any chart, following the instructions for installing advisors, starting from number 5.

5) In the settings of the advisor, we specify the update interval, your mailbox specified during registration in Myfxbook and the password for the Myfxbook account. Click OK.

6) A couple of minutes after the work of the advisor, you will have a new monitoring in the list of accounts on Myfxbook. You just have to add additional information (optional).

If monitoring appears, but the connection status is “Pending” and does not change for more than an hour, then you need to delete the monitoring and re-attach the advisor to the chart.

An important nuance when connecting an account to MyFxBook through an advisor:

In order for the monitoring to be updated, the terminal must be turned on.

How to delete monitoring from MyFxBook

1) To delete monitoring (in case you no longer need it or has overridden it), go to Profile-> Settings.

2) Find the required account, click “Edit”.

3) Find the “Delete” button. Click and confirm by entering your account password.

Connection via Auto Update (MT4)

The most, in my opinion, the best way.

1) Choose “Metatrader4 (AutoUpdate)”:

2) We indicate the name of the account (it can be anything, a la “My System”), broker, server, MT4 login, investor password.

3) After that we press “Create an account”.

If you entered the correct username / password / server for the account, then the system will notify you about this:

And it will offer to select “Take me to my account” or “Set privacy settings” (by default, account monitoring is visible only to you).

4) That’s all, monitoring via Auto Update will be updated once an hour, even if the terminal is closed.

Connection via Publisher (MT4)

It is not recommended to use this method, because it is outdated, unreliable and does not allow for public monitoring. But if for some reason you need this particular method, then the instructions are below.

1) As with other methods, go to Profile-> Settings-> Add account.

2) Select the Metatrader4 (Publisher), indicate everything that is asked. Click the “Save” button at the end of the page.

3) Again, go to the “Settings” page, look for our new account and remember its number.

4) Open the MT4 terminal (logged into our account for monitoring), click Tools-> Options-> FTP and enter the data, as in the screenshot below.

5) Click Test.

If everything is filled in correctly, a message will appear, as in the screenshot above.

We press 2 times Ok.

In 10-30 minutes the monitoring of our account will be updated on the MyFxBook website.

When connecting an account to MyFxBook via Publisher, you cannot make it public.

Also, to update monitoring, the terminal must be turned on.

How to make monitoring public?

To make an account public, you need to prove that you are the owner of the account. Otherwise, this option will not be available. This was done due to the excessive number of grail sellers)

1) Go to “Settings” to see the list of created monitors. Click “Edit” next to the required account.

2) In the “Verification” section we find the “Authorization Password” field. Copy the password and go to MetaTrader 4.

3) Go to “Tools” - “Option” and select the “Server” tab.

4) Opposite the login and password fields, click “Change”.

Here we enter the current (trading) password for the account and select the “Change investor password” checkbox. Below we enter a new password (generated by myfxbook) and click “OK”.

5) Now you need to update the investor password in the myfxbook settings. Return to the site and click on Update Password. In the field we indicate the same generated password.

To initiate the connection with the account, press “Connect”.

If successful, the message “Account Authorized Successfully!” will appear.

6) Now refresh the page - you will be able to make the account publicly available. Click “Save” to save the settings.

In order for others to see open trades, trades history, etc. in your monitoring, do not forget to put additional checkboxes:

P.S. If you copy a link from your browser to your monitoring page, it will throw an error for other people. The correct link to your monitoring is at the very bottom of the page with it.

How to update monitoring (if it has stopped updating)

If the monitoring has not been updated for more than a day, it makes sense to “kick” it slightly.

To do this, go to the account settings and in the “Verification” tab press the “Connect” button.

In a couple of minutes, the monitoring will be updated.

Just don’t press this button too often, because after a certain number of clicks it stops responding altogether … and all that remains is the deletion of monitoring.

This method works only when the account is connected via Auto Update.