Netpicks Universal Market Trader
OEarly 2008 NetPicks made another release of their Universal Market Trader (Netpicks UMT), which is receiving very good testimonials from users. Learn more about the NetPicks range of trading products and courses on the NetPicks site. get independent opinion and more information here.
Universal Market Trader Testimonials:
"I have been
trading for 9 years and have lost money most of those years
until now UMT has got me excited about trading again.
I wake every morning knowing I am going to have a profitable day
trading most of the time. And the greatest thing about UMT: I
can trade any market and choose the time frame that best
fits me. The hardest part is calling it a day once I hit my
target because a lot of days there are plenty more winners even
after I quit. And the people at Netpicks that got this all
running give you everything you need to succeed." - David Hudson
"The UMT is by far the most consistently accurate trading system
I have ever tried. In the last two weeks I have day traded 9
days. 8 of those days were profitable. I am running about 70%
winning trades. The live trading rooms and weekly seminars have
been invaluable in learning the system, and helping understand
some nuance, such as what to do when a trade almost reaches
target, and managing trades for profit. The owners' website and
daily chat rooms have also been very helpful. Thanks very much
Netpicks." - Douglas Felten
The above is one of many testimonials NetPicks has
received, most of which are actually recorded audio that they
transcribed, as dozens of owners have actually taken the time to
call in and leave these on their voicemail.
Here is an independent review of Ultimate Trading Machine by a user, posted recently on a popular trading forum who is basically satisfied with the results he has achieved so far with Universal Market Trader.
"Greetings all. I
just found this thread asking many questions about the
Ultimate
Trading Machine or UTM. Hundreds of users like me
seem to be intent on keeping the information to themselves – too
busy making money to care what others may think, perhaps?
For those that are interested,
I am a UTM owner. I purchased the system from Netpicks on the
initial release in mid-August last year and I have been trading it since September.
I will share my opinion of the system, but I will not be
divulging specific system mechanics as a NDA (non disclosure agreement)
forms part of the purchase and I
will honor it.
Overall I’m impressed with the Ultimate Trading
Machine. Although September was not
a particularly good month
for me, (in fairness, some of that was due to my own
mistakes) the system
performance was not stellar. But October was extremely good with
the UTM and November was even better. Due to other
commitments, I traded little for the rest of 2006, and am only
now getting back into the swing of things. But January looks
promising so far.
UTM is not a “black box” system. It is easy to learn, utilizes a
single common indicator
(albeit applied in a unique way) and once you’ve spent some time
learning the system,
there is no mystery to it. That much of the marketing claims I
can validate as well as
saying that it does eliminate subjectivity when it comes to
trade entries and exits. The
initial trading rules are clear and precise.
The website is very good. Daily reviews, updates and
enhancements are posted regularly.
I do believe Netpicks is making a big effort to stand behind
their product and the quality
of the website demonstrates this. In fact, if you were to trade
UTM straight out of the
box without consulting the website and member resources, you’d
be at a disadvantage.
I do have some
reservations. My first is some rules regarding specific trading
set ups that were either glossed over or left completely out of
the initial system training materials. I only found out about
them through the reviews on the website.
Next is "subjectivity". Although there is no subjectivity in the
trading rules themselves there is
over what strategy to trade. UTM has what it calls an aggressive
strategy, it has a conservative strategy and also has an
alternative strategy on a different time frame. The differences
between them are predominately entry timing.
Additionally you have to choose a market to trade (ER2, ES or
EUR/USD, GBP/USD for forex… or
a mix). They recently released modules for the Nasdaq, Russell
and Dow e-minis.
I’ve done my own back-testing on each and although longer term
each strategy is showing
profit, whichever method you choose can have a huge impact on
performance for any given
day. There is no “official” performance track record so choosing
which strategy/market can be a crap shoot.
Netpicks calls the
choice a personal preference and that is valid since individual
traders will more than likely be more comfortable with one
method over the other. But still, a lack of a formal performance
track record for each strategy in each market is my single
biggest concern. It almost guarantees that new users will have
to stumble through on their own a bit before finding a
direction. When asked, Netpicks claims lack of resources to do
this.
Personally, I don’t buy others' criticism that “they don’t post
performance so it must be bad”.
I am trading the system, I did my own back-testing and overall
performance is not at all bad. Quite the opposite. It is true
that most days I’m done trading with 1 or 2 winning trades by
11:00 – 12: 00 EST.
Very strong trending days and days with an extremely tight range
tend to be losing days
for the system, but following the money management rules (again
a set of rules that
weren’t in the initial release, but introduced via the website)
has kept my drawdown
minimal.
On the whole, I'm satisfied with the performance of Netpicks Ultimate Trading Machine. I've yet to see posts or comments from anyone who has returned it for any reason. That must tell the detractors and skeptics something."
These are the comments of an Ultimate Trading Machine owner. You have nothing to lose by trying the system for yourself. There is a money back satisfaction guarantee if you don't feel it's going to work as you thought.
