Netpicks
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Netpicks Ultimate Trading Machine is a system that offers day trading signal alerts to those
subscribing to the service via a live trading room. All signals are offered in real time, thus allowing
traders to take full advantage of significant changes in the market as and when they occur in theory.
The strategies employed by Netpicks are based in fundamental economic indicators and price action in
the market, with traders being offered a choice of managed or automated accounts. Trades via either
account is based on the same signals so the profitability of the system is available in two distinct
packages as per individual preferences, but are these promises fulfilled in reality?
Visit the Official Netpicks Site
Consumer Feedback
“We have backtested this system and although you do have winning days, overall you will lose in just
about all markets. They use common indicators for their system and charge way to much per month for a
mostly losing system. Netpicks cannot provide any actual brokage statements proving what they claim.
Their spread sheet examples from "real" traders on their web site are actually manually backtested
results which don't include every trade the system generates...especially the losing ones. Their
examples are cherry picked.” – Barry Hettrick, Australia
Portion of actual user review from forexpeacearmy.com.com
"Been with them for a while. I've always found that I did reasonably well listening to their live
signals and trading myself - not as well with the auto trade. Which I guess makes sense.
Portion of actual user review from forexproductexpert.com
“With that being said, their magic indicator merely appears to be a slow stochastic with some different
settings for the 3 and 10 min charts. I haven't had time yet to throw together their obvious "strategy"
into TradeStation to get a real performance report, but no doubt it backtests poorly or else they'd
have been marketing that too.” – Smoss
Portion of actual user review from elitetrader.com
Our Verdict
In truth, we all found the Netpicks Ultimate Trading Machine system to be a little mixed in terms of
the results it provided. We did find that the managed and automated accounts did yield similar results
based on the signals but it was those signals that provided a problem.
The Netpicks signals are ideal for those that are new to the Forex market because they are easy to
follow and the system itself can help them to learn about trading. It provides a comprehensive system
for market analysis as well. So what exactly is the problem with Netpicks?
We found that many of the signals appear too late to make a difference in many cases and did not work
in all market conditions, although they did tend to work well with the main currency pairs. However, we
also found that the signals recommended pulling out of trades too early in many cases and the automated
system did not benefit from this.
So how useful is the system overall? Well, the profitability is OK but it is nowhere near what certain
other systems can offer. In addition, Netpicks tends to promise a lot more than it delivers.
Visit the Official Netpicks Site
Specifications
| Format: | Delivery Signal Service or Automatic Trading |
| Delivery Method: | N/A |
| Cost: | $197.00 |
| Guarantee: | Free Trial |
| Creator: | None Known |
| Customer Support: | Live Full Support |
| Official Site: | www.netpicks.com |
