EQ Pixie can alert you of important events while you are playing. The alerts appear in the pop-up Alert Window for a while and then disappear to minimize clutter.
You can move and size the Alert Window when it is visible. If it isn't currently visible you can press on the Main Control to make the Alert Window appear. Click on the Alert Window to position it and adjust it's size. The size you set determines the maximum number of alert messages that will appear at once. If you make it too small then you might miss some alerts. You should keep it large enough that 3 or 4 small alert boxes will fit inside. If you place the alert window at the edge of the screen then it will hug that edge.
If you don't click on the Alert Window it will automatically disappear after 20 seconds. If you click on the Alert Window then it will stay open until you click on something else and the 20 seconds pass.
When an item on your Wish List is looted an alert will pop-up. It will also alert you if you click the item on a vendor (NPC) or merchant (player). Enable or disable this feature with the checkbox as above.