Swingtradebot is an investing tool that acts as a stock screener that can provide useful signals for traders. For many traders, the most difficult part about the market is timing the entry and exit points. With the ups and downs of the stock market on a daily basis, it is often difficult to time these, especially when our emotions get involved. That is why more and more traders are adding trading bots to their trading toolbox. Bots help to automate our trading to an extent and are useful for traders who cannot sit all day with their brokerage screen up executing trades. Hence our Swingtradebot review.
Swingtradebot Review Introduction
The platform itself is targeted at swing traders, but almost any kind of trader can make good use of its stock screeners and other features. Since Swingtradebot is based on short-term trading, it utilizes technical analysis to inform traders of potential moves. From my personal use during trading,
Swingtradebot is simple to use, but it is certainly a powerful assistant to have on your side. There isn’t anything particularly flashy or revolutionary about Swingtradebot, so let’s take a deeper look into the site to see if it is worth adding to your repertoire.
Before we get into the actual platform, let’s do a quick review of what swing trading is. In my mind, swing trading is always halfway between day trading and long-term investing. While technically the definition of swing trading is to hold a position in a stock or asset for one day or more, generally it is a longer period of weeks or sometimes even months. Swing trading is mostly speculative and uses technical analysis to identify historic trends and upcoming moves higher or lower.
While swing trading is inherently less risky than day trading, it is still an advanced trading strategy. It involves initiating a position in a stock at a specific entry point, with the thought of exiting that point after making a fast profit. Usually, swing traders are eyeing specific short-term catalysts that could impact the price action of the stock. Swing trading is all about speculation and anticipation, as well as a firm knowledge of technical analysis and the recent history of the stock’s performance.
Swingtradebot Stock Screener
The various stock screeners are the core of the Swingtradebot platform. So what is a stock screener? Think of it as a built-in search system for the whole stock market that filters out any stocks that may meet your criteria.
Swingtradebot is serious about its screeners and offers over 100 different stock screeners that are able to detect nearly any type of technical indicators or patterns that are beginning to form. You can further filter these screeners to separate by bearish or bullish sentiment.
The stock screeners on Swingtradebot are actually not as customizable as you would think. You can run more complex scans, but for the most part, you cannot create your own custom screener page. Premium Swingtradebot customers can do some customization to their accounts. But for the most part you’re stuck with the layout and interface that Swingtradebot provides.
If you have never used a stock screener before, you may want to look into adding one to your toolset. The information you pull can be extremely valuable and help determine how the stock will perform in the short-term. The one major knock against Swingtradebot isn’t about the platform or site. It is that stock screeners are actually quite commonly found, and some are cheaper or even free to use. While the platform does have some cool features and bonuses, some traders will question whether or not they need to pay for the service.
Alerts and Signals
What is the use in tracking all of these stock’s behaviors if we aren’t notified of them during the trading session. Luckily for you, Swingtradebot provides a wide range of alerts and signals that you can assign to a particular stock you are following. The best part about Swingtradebot is that it has a companion mobile app that you can download for free. This app will send signals and alerts directly to your phone during trading hours when the market is open.
These alerts are clearly marked as bullish or bearish, or if the bot believes that this is a good entry or exit point. You can also choose which indicators or catalysts will send notifications. This comes in handy since you don’t want useless notifications that could clutter up your inbox. If you want to monitor moving averages like the 50-day or 200-day, set an alert for whenever a stock on your watchlist approaches them. And If you’re curious about current MACD behavior or current market sentiment for the stock, set notifications for whenever those indicators change.
If you‘re interested in adding other stocks to your lists, you can also filter screeners by the highest or lowest performers on the market for each day. This is especially handy if you want to learn about new stocks that other traders are clearly looking at!
Research Notes for Traders
Swingtradebot actually provides some research notes that are attached to the stock or fund itself on the site. These are just another way that Swingtradebot brings new trade ideas to traders by exposing them to different stocks. To be honest, Swingtradebot doesn’t actually provide a lot of these so it is a feature that flies under the radar. I understand it is hard to always update research notes based on recent trends, but I think it would be a very useful feature that traders could just take a quick glance at.
Daily Routines
Swingtradebot does have a good idea for keeping users integrated and invested in its platform. Not only does the site provide a daily report after the closing bell, but it also has a feature called Daily Routines. This is kind of like a daily checklist to get traders into the routine of checking certain lists and screeners. Traders can customize which scanners and indicators to watch for, and Swingtradebot will automatically send this as a daily reminder. These are excellent for getting into a groove when it comes to trading, even if you feel you do not need to log into the markets each day.
What Does Swingtradebot Cost? (Pricing Review)
This is the big question for traders: how much will a premium subscription cost? Swingtradebot has a few different pricing tiers, but if you are wondering, you can use the platform for free. Of course, things can be pretty limited, but what do you expect for a free membership? Here are the major differences in what you get as you move up the tiers.
Silver: Free
- New: 14-Day Free Trial of the Gold Plan!
- Access non-Pro Stock Scans
- 1 Watchlist & 1 Portfolio
- 5 Stocks per List
- 3 Routines, 7 Items per Routine
- Ad Supported
- Weekly Email of Portfolio and Watchlist Alerts
- Limited Access to TraderMike’s Notes
- No Customization of Default Chart Settings
- No Customization of Your Default Scan Filters
- Run Scans for One Day at a Time
- Unable to View Scan Results as a list of Charts
- Basic Scan Filtering
- No Exporting of Scan Results to .csv
Gold: $14.95 per month or $129.95 per year
- Access all Stock Scans
- 2 Watchlists & 2 Portfolios
- 20 Stocks per List
- Unlimited Routines
- No Ads
- Nightly Email of Portfolio and Watchlists Alerts
- Full Access to TraderMike’s Notes
- Customize Your Default Chart Settings
- Customize Your Default Scan Filters
- Run Scans Across a Date Range
- Efficiently View Scan Results as a List of Charts
- Advanced Scan Filtering (e.g. Market Cap, Sector)
- Export Scan Results to .csv
Platinum: $19.95 per month or $169.95 per year
- Access all Stock Scans
- Unlimited Watchlists & Portfolios
- 40 Stocks per List
- Unlimited Routines
- No Ads
- Nightly Email of Portfolios and Watchlists Alerts
- Full Access to TraderMike’s Notes
- Customize Your Default Chart Settings
- Customize Your Default Scan Filters
- Run Scans Across a Date Range
- Efficiently View Scan Results as a List of Charts
- Advanced Scan Filtering (e.g. Market Cap, Sector)
- Export Scan Results to .csv
Swingtradebot Review Final Thoughts
Ultimately it’s going to depend on what type of trader you are. After using the platform myself, I actually think Swingtradebot can benefit any type of trader, not just swing traders. The stock screeners themselves are worth the small price each month if you are willing to pay. Throw in the alerts and you can see why using trading bots is becoming increasingly popular. You get all of the trading for very little effort as well as leaving your emotions out of a trade.
The prices are reasonable, the platform is intuitive and user friendly, and Swingtradebot comes with both Apple and Android apps. The only drawback in my opinion is that there are free screeners and similar sites to Swingtradebot if you really do not want to pay the monthly or annual fee. For those that are willing to pay, Swingtradebot is an excellent tool that can potentially improve your trading for years to come! We hope you enjoyed this Swingtradebot review.
