Audit a Futures or Ninja account
Human beings tend to view the results of their activities in a non-objective way, meaning that we tend to alter poor results to appear as if we performed better. This can lead to a dilemma in terms of performance because if we never accept the results as they are generated, we will never know what needs to be changed to improve or what needs to be maintained to continue obtaining good results. Hence the importance of auditing a Trading account, in this case, we will specifically talk about Futures in Ninjatrader.
Auditing an account is of great importance when measuring the results of a strategy. We will mention three, but the importance of conducting this activity is not limited to them.
1 You can have reliable results.
When you review the performance of your trading strategy, you often won’t remember what happened every day during the period you are analyzing. Therefore, the modifications you made with excuses like “it was a mistake” or “there was a connection failure” and others will make the results you see not reflect what you actually achieved. They can give you false expectations regarding your performance.
2 Effective Backtesting:
If you are a diligent person or want to become one, backtesting is the most effective way to study. However, if you have altered historical data, you won’t know if what you are studying is true, or if the results of your long hours of study are reliable and help you improve your strategy.
3 Obtaining Funding:
The previous two culminate in this. If you want to undergo a funding evaluation and have manipulated results or results that are not real, it is likely that you will be frustrated when you fail the evaluation. You might think, “Why didn’t you pass the evaluation if you did the same thing as when you traded in the demo account?”
Auditing accounts is a step that every trader should take. An account where you cannot modify the results is the faithful logbook of your performance and the roadmap that guides you, from analyzing the strategy to see if it needs adjustments or if it’s working fine, to staying calm when entering the market, and even the way you perceive it, the psychology of the trader, how you think when setting stop loss or target, how your emotions affect your decision-making.
These three pillars lead us to the point where an audited account can save us from many troubles and even represent monetary savings. In summary, these three pillars will help us make better trading decisions, not only regarding the strategy but also in improving how we view trading and the capital we invest in it. This includes purchasing courses, joining academies/communities, participating in funding evaluations, or funding the account with our own capital.
There is a wide variety of online journals, but very few provide performance analysis and insights to help you adapt to the market, all without the need to manually record everything while trading. Swiset is one of the most comprehensive options in the market and integrates with over 5 trading platforms. With Swiset, you just need to add an indicator, verify your account, and it will automatically record and analyze your trades. If you want to learn how to integrate, automate, and audit your trading account to ensure the most accurate results possible, you can follow this link to discover the power of Swiset.
Camilo Chavez
Customer Succes Lead
