one of the most well established trading signal provider services, having been in business for almost ten years. You cannot hide when you are a dishonest trading system vendor or you are unprofitable in your trades, Netpicks is watching over it all.
In fact, their results suggest they are doing a lot of things 'right', so I decided to take a closer look. 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
In a nutshell, NetPicks offer a mechanical trading system. NetPicks, a trading signal provider servicer lets you sign up as a member, that does the thinking for you, and tells you when to trade. Every day you'll receive your 'Key Numbers' for upcoming sessions. These particulars tell you where you will be inward your deal, and are accompany by an exit goal, end defeat, and setback point. You are advised of exactly what action to take at a specific time- there is no ambiguity in the situation.
There are two flavours of system on offer - the EMini Day Trader, and the Forex Trading system. The EMini service actually covers the S&P, Nasdaq, Dow, and Russell US futures as well as the Dax and EuroStoxx which are popular in Europe and are gaining popularity in the US. With so many contracting options available to you, having a large cash reserve is not a requirement to getting started. You can get a Mini-Dow contract for only five dollars..
EMini and Forex are the two systems and they process in same way. A trade occur with the first being a fixed target and the second being a trailing stop. The strategy allows an individual to profit from normal fluctuations AND remain able to benefit from long term changes.
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. Be prepared for drawdown periods anytime you are dealing with mechanical trading systems. the winners from those that come and go are the frequency and depth of those drawdowns.
NetPicks is impressive by that measure. The Eurostoxx contract for example, has suffered only one drawdown month in over a year of trading. One hundred and eighty points every single month is the average so far. That might not sound like a big deal, but bear in mind you can easily increase the number of lots traded as your account balance grows, and you see that with returns like that month in month out, you can do very nicely indeed.
The Forex version of the system hasn't been trading as long as the futures, but it's already showing good results. The USD/CHF is one of these. (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.
2% is the largest draw down that the system has ever suffered in a month, 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.
But when the proper moment comes you still have to pull the trigger when the system tells you to Buy or Sell, a problem for some traders who tend to hesitate. The logical conclusion of mechanical trading is for NetPics to jump the final hurdle and introduce automatic trading for the 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. The cost for this service is an additional $100 per month over stadard service if you account is less than $10,000. Once your account balance grows to exceed that, there is a sliding scale for the management fee. Its possible to pass the work on to someone and have your trading signals taken care of, you are now really playing the 'set and forget' way.
brokers and forex are the two partnerscom (a portion of the big Gain Capital Group), and RobbinsFX too. Try WorldCupAdvisor.com. By establishing a brand new account with the previous will provide you a great benefit by giving you a completely free month of the autotrading service. NetPicks offer a tried and tested mechanical trading system that makes money. Trading Emini contracts or currency pairs will balance out the drawdown that will be seen with this mechanical system since it is very small.
I can see several ways of using the service - a steady income whilst learning to trade, a 'hedge fund', or simply a set-and-forget investment offering a higher return than any bank account can.
A good discretionary trader can of course make more money than any mechanical system, but for those struggling with their trading, or wanting some return while learning, NetPicks offers a proven solution that will provide 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.
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