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 express they are doing a lot of things "right", so I decided to stand a closer await. I particularly liked their new auto-trading function. (loyal readers as well as those who use TSim already realize how much I like black box trading!), but after we cover the general service, I'll come to that.
Mechanical Trading System
A mechanical trading system is offered by NetPicks. If you are mark up as a component, absolutely they will reflect for you and tell you when to deal They have you attend their Key Numbers meetings daily to prepare for the upcoming session. 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.
You can pick from a pair of versions for this plan - EMini Day Trader or the Forex Trading method. The EMini services cover the S&P, Nasdaq, Dow, and Russell US futures and they also include the popular European Dax and Eurostoxx markets. With a good variety of different priced contracts to choose from, you don't necessarily need a big account balance to get started 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.
With all positions closed out before session end, the EMini has distinguished itself as a complete day trading system. Even though Forex is a 24 hour market, there are still fundamental rules guiding whether trading should be taking place. It is for this reason that one could say Forex is, ultimately, a true system for day trading. Be prepared for drawdown periods anytime you are dealing with mechanical trading systems. It is the frequency and depth of these drawdowns that really distinguishes between the winners and those with a passing interest.
Using this standard, NetPicks has an outstanding record. The Eurostoxx contract for example, has suffered only one drawdown month in over a year of trading. As of today, it has averaged 180 points a month. 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. 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 largest drawdown the system has suffered in one month is 2%, which is modest by any standard. The system tells every thing in mechanical trading system, you no need to think. 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. 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. Instead all you have to do is sign up with one of their partnering brokers and they will take care of the trading for you. For accounts up to 10k, an extra $100 have to be paid every month over the standard service. Once your account balance grows to exceed that, there is a sliding scale for the management fee. If you desire someone else to handle your trading signals, this is actually the best in "set it and forget it"!
There are two partner brokers - forex.com just another entitity of the Gain Capital Group.as well as RobbinsFX WorldCupAdvisor.com. One advantage of this autotrading service is that it will be free for a month for newcomers.. the money making system offered by net picks is a tried and tested one. 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.
A two week free trial shows the confidence NetPicks have in their product, and it's justified confidence. You can make easy money from trading at under $200 a month for this system.
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If you want to know our specific results and see more unbiased customer options just visit the full Netpicks Review. to read a FREE report about this Netpicks Live Forex Signal Service.
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