one of the most well established trading signal provider services, having been in business for almost ten years.
Netpicks has been around for awhile being a system that includes both integrity and profit and it has outlasted a lot of systems that have burnt out.
I decided to take a closer look after I realized their results suggested they are doing a lot of things “right”. I was particularly haggard to their new auto-trading overhaul. (regular readers and users of TSim will know I’m a fan of black box trading!)We will talk about that in a bit, I’d like to address the service first.
Mechanical Trading System
A mechanical trading system is offered by NetPicks. You sign up as a member, and they do the thinking for you – telling you when to trade. Each day they send you what they call their Key Numbers for the session ahead. These numbers give you a clear idea about how and when you enter, the exit target, stop loss and reversal points too. To put in another way, you are instructed precisely where to purchase and market – no discretion connected.
There are two flavours of system on offer – the EMini Day Trader, and the Forex Trading system. For information on the S&P, Nasdaq, Dow and Russell US futures, and the European DAX and EuroStoxx (which has interest steadily climbing here in the US), look to the EMini service. Don’t worry if you don’t have a big balance to start off with. There’s a wide variety of contracts priced for all different budgets. You can get a Mini-Dow contract for only five dollars..
Both the EMini and Forex systems work in the same basic manner. Fixed target and a trailing stop are in the two lots traded. You need good balance between catching average size moves, while positioning yourself to be profitable with longer trends when they occur.
The EMini version is a true day trading system, with positions closed out before the end of the session. Being a 24 hour market, Forex is not available to trade for the 24 hour period as there are certain time periods which must be adherred to, in reality it should be considered a day trading system.
Results
Mechanical trading systems by their nature, expect periods of drawdown. The frequency and depth of drawdowns often separates the winners from the losers.
NetPicks is impressive by that measure. One excellent example is Eurostoxx, they have only had one drawdown month is more than one year of trades. It has to date averaged 180 points per month. That might not channel equivalent a big transact, but bear in remember you can easily growth the wares of lots traded as your relationship equilibrium grows, and you see that with returns like that month in period out, you can do really nicely indeed.
Its a contender, the Forex version, although quite new to the futures market it is already showing great promise. For instance, the use of USD/CHF Swiss Franc The pair has been through a winning spree, has not suffered one loss all these months and has a stunning average of more than 150 pips per month.
the system has suffered in one month is 2%, which is modest by any standard.
How to Utilize a Mechanical Trading System
Instead of investing time in guesswork about trading, you work with this automated system and it determines the trades for you.
However, you still have to pull the trigger when the system says Buy or Sell – a problem for some traders, who hesitate at the vital moment. NetPicks have gone to the root of mechanical trading and have introduced automatic trading for their forex product.
Actually is not quite “automated” in the sense that, say, TSim can automate trades. Rather, you sign up with one of their two partner brokers, and the broker trades the signals for you. This is an additional $100/month above the standard service, for accounts up to $10k. After the total in your account is higher than that, a sliding scale is applied to determine the management charge. If you want your trading signals taken care of by someone else, this really is the ultimate in “set and forget”!
forex.com (a portion of the big Gain Capital Group), and RobbinsFX too. www.WorldCupAdvisor.com. One advantage of this autotrading service is that it will be free for a month for newcomers..
Summary
NetPicks provides a tried and true method of automated trading that yields results. Like all mechanical systems, it will see some drawdown, but this is relatively small, and can easily be balanced out by trading multiple Emini contracts or currency pairs.
I know of many different ways that trading services can be used to earn a steady income while you’re learning to trade.
A good trader will of course make more money than any mechanical system, but if you are struggling with trading or wanting to learn how to do it better while still trading, NetPicks will give you a better way to earn an income.
free trial shows the confidence NetPicks have in their product, and it’s justified confidence.
At below $200 a month for the system, for several people this will happen to be the uncomplicated means to earn cash from trading.