Swing Trade Bot Review

Oct 10, 2020 06:02 AM ET
Swing Trade Bot Review

Swing Trade Bot is an option to consider for traders in search of market information related to trading routines, scanners of technical signals, etc. This platform provides an overview of the market enabling traders to perform swift trades when the opportunity is ripe. 

The time taken for conducting analysis is reduced with the information provided by the robot. Developed by Michael Seneadza, a software developer, this trading software focuses on delivering analysis and research related information on the market.

Swing Trade Bot  features

Trading Strategy Explanation

Swing Trade Bot works by providing a comprehensive screening of all the stocks present in a portfolio. Once technical assessment is completed on the stocks, the bot provides the results daily for the trader to identify stocks for trading and arrive at decisions. 

This stock screener features combo scan, all scan, and category wise scan from which you can choose an opt technical scan. Alerts related key technical signals are shown via the portfolio and watch list pages of the site. 

Swing Trade Bot Trading Strategy Explanation

The information provided is supposed to be useful for finding the powerful stocks to purchase and the stocks that have to be sold. 

Swing Trade Bot Trading Strategy Explanation

The trade bot updates you on the recent IPOs and financial market news for traders to make their move and buy or sell stock at appreciable values. Information on the market is emailed to traders every day. 

The stock screening can be done in different ways. You can view the results in list form or charts, or export the data, and further analyze it in a CSV. 

Swing Trade Bot results

Beside the intraday alerts, the automated software also provides information on the direction of the different indices including their gain, decline, and flat positions.  The stocks are indicated as bullish or bearish so a trader can actually take proper action from the information.

Research Notes For Traders

A unique feature of Swing Trade Bot is the research note section, Mike’s Notes. These include concise information on market sentiment or a specific stock’s movement. The feature is introduced to provide a special developer perspective that can help traders make an informed decision. 

Swing Trade Bot Notes For Traders

The customization although minimal allows a bit leeway to introduce more filters for the stock screening. The mobile app, a recent introduction allows easy portable screening of stocks. The app also has intraday alerts feature.  

Pricing 

The pricing consists of three plans. 

  1. Silver - This basic plan is provided for free.  Premium screeners are not available with this free plan

  2. Gold – This level is available at $14.95 per month. The features included with this tier include watch list alerts, scans of stocks, and more.

  3. Platinum - Priced at $19.95 for a month, unique features are provided with the level which you can choose based on the strategies and style you choose.

Review Summary

Pros

  • Extensive number of stock screens

  • Updated signals and analysis

  • Pricing is moderate

Cons

  • Not useful for beginners

  • Limited research notes

  • Custom screens are not present

  • No customer support available

  • Platform is not regulated

Conclusion 

As an information source for market data, Swing Trade Bot is ideal for active and expert traders who are looking for more help with their stock screening efforts. The software is intuitive and can be used by newbie traders too. 

However, the lack of customization can be off-putting for advanced traders. And even if the research notes section is a good feature, the information is posted is not frequent which makes it a wasted effort. 

The alerts, unless you add necessary filters, can be quite annoying with the frequent messages. The core issue with the trading software is it does not provide clear information on exits and entry positions, and there is even less information about best stocks to choose for traders.

The absence of any form of customer support and no regulatory license further add to the woos of this trading robot. With so many drawbacks, we do not find it a trusted software.

Rating: 4.1/10


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