FOREX, STOCK TRADING SYSTEM REVIEWS

 

 

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.

Universal Market Trader

 

 
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