I’ve been using Swiset (https://www.Swiset.com) for about a month and wanted to do a brief write up of their cloud based trader journal and statistics product. I think it’s a great product and I always encourage traders to take the time to journal their trades, review their statistics and make better decisions. Swiset allows you to do all this completely automated.
I did a more thorough overview of Swiset and a walk through of how to set it up in NinjaTrader so your data is automatically sent from NinjaTrader to Swiset in the video below, I encourage you to watch the video as I go category by category of all the functionality of Swiset.
One thing I don’t focus as much in the video on is how Swiset doesn’t just aggregate your data, they also interact with you. Get notifications via email and/or Telegram when you hit certain metrics, warnings, reach goals or violate rules in your trading plan and more. It very much is interactive.
Swiset – Setup with NinjaTrader and Overview of Product
Integration with NinjaTrader – How Swiset Automates Trade Data
The instructions on how to integrate with NinjaTrader are fairly straight forward. You can find them on the Swiset site here: https://swiset.freshdesk.com/support/solutions/articles/69000257074-integraci%C3%B3n-con-ninjatrader – they are also posted below.
I should mention they integrate with other trading platforms also, but since I know NinjaTrader is probably the most popular one out there and one I’m familiar with, I’ve focused on it.
In the video above I go through the steps if you want to see how it is done. It takes just a few minutes and once set up you don’t have to touch it again.
Trading Dashboard
When you first log in and have executed some trades, you’ll be greeted with a nice clean dashboard with some highlight stats from your trading. Below is an image of mine, and I like to point out I did some test trading in NinjaTrader so they weren’t the greatest trades, which is why the statistics aren’t so great.
Menu
When you hover to the left the menu will expand and you can see the full list of options. I won’t go over each of them here, but again in the video above i do cover each item in the video.
Trading Journal
The Trading Journal details your full list of trades. You can filter in a variety of ways, such as by account (yes you can integrate multiple accounts),
Calendar
The Calendar at Swiset is a great way to get a snapshot of how your trading is going overall. Take a step back and see how you are performing day to day, week to week, or month to month. Besides an obvious green or red day, you can also see some quick stats such as your profitability each day and how many trades you made.
Trading Mentor
Now we start getting serious. The Trading Mentor will give you more in depth statistics about your trading. It is worth spending a considerable amount of time on this page when you have your own data. Really find out what your strengths and weaknesses are for trading.
Trading Plan
The Trading Plan is where you can customize your own plan. Set limits on quantity of trades, loss limits as well as desired goals and targets. Worth noting you can also be notified when you hit and/or violate your own trading plan, again via email or Telegram.
They are working on setting up a Pre-Market Routine which is great. I personally have my own pre-market routine so if I can integrate it here, Swiset becomes my one stop go to place before, during and after trading.
Tournaments
Swiset has the ability to host trading tournaments if you want to run your own, or you can participate in ones being run by others. Definitely a pretty nice feature, and there’s prizes. How can you not like that?
Community
There are several trading communities, most are private though. This would be a great way though to interact with other Swiset people (for example if I set up a CFT Community). As well you can share your journal with others, say a trading partner for example.
Pricing – Free and Paid Versions
Swiset offers a Basic version for free. Not even just a trial, a fully functional basic free version. You won’t get full access to all the great metrics and other functionality, but it is a great start to give the product a try and see it in action.
The great thing is the Pro version is currently only $10.50 a month. That is basically nothing in the world of trading where someone (like myself) is paying $40/month for data, $50 for a live license, thousands for trading software and $3+ in commissions and fees per trade. So $10.50 is more than reasonable and far more affordable than other journaling options. Honestly they could charge far more for this great of a product.
Conclusion
Swiset is doing an amazing job and their product is flawless and top notch. The seamless integration with NinjaTrader along with the extensive ways you can review your stats and interact with the platform is great now, and will only continue to get better going forward as the team is dedicated to making Swiset the best trade journaling platform available. I’m looking forward to using it going forward and really digging into how I can become a better trader.
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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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