NetPicks UTM Forex Video 10/11/06

Good afternoon (or evening depending upon where you are located.)  You can view a large video by clicking the link below -- the above video can be started by single (or double on some browsers) clicking the Play button.  Use the link below for a large version to see all the chart detail. Today we'll cover the forex markets.  We had a good mix today - both an "Event" based trade, and a "Time" based trade.  You'll see in this video how we carve out the day and can actually throw away 90% or more of the trading hours of the forex.  Rather than try to track and trade this 24 hour market we focus in on a precise time and trade only at that time.  It makes it much more manageable, far less time and effort and you still are trading when the markets typically are on the move which is what any active forex trader wants.  The video will show you how this all worked for us today on the EURUSD and GBPUSD. UTM Forex Trading Video Wednesday 10/11/06

Comments

[john g]

i am in the process of setting up an ira account with peg-broker and having netpicks as the automatic trader (25%)---onuce set up does this give me access to other information and education or services you offer??
john g

NetPicks Reply: The UTM is a separate strategy/course for those who want to do their own trading.

[chinedu]

I am Interested, so when are we getting the package and much does it cost?

Thanks

NetPicks Reply: It will be available shortly - we release a set amount of copies only periodically. We'll have full details on that, a webinar and pricing shortly. Thanks.

[Flowerlady]

You said that ,"The idea is to make it within the grasp of most everyone"..."not anywhere near what you see some of the training programs go for out there." I hope this Net pick system does not carry a $3000 -$10,000 price tag like other trading "tools" out there that are either unaffordable and/or never seem to actually deliver much.

I used Net Picks recommendations earlier last year and thought you guys were disciplined, conservative and often on right on spot! I look forward to the Webinar Thursday evening.

Question: Will Net Picks also be managing client accounts with this new system? If so, what is minimum account amount? Finally, what is the platform(s) you guys and gals like best?

NetPicks Reply: My answer on the first part is no, we are not going to be anywhere close to that range. Agree there is a lot in that range but we're not going to be one of them. As for platform, you can see from the videos we use Tradestation and think it's great - however, we have current users using everything from the platforms that come with the brokers (Metatrader, VT, broker specific, etc... ) to the third party apps like esignal, Tradestation, etc... There's a lot of flexibility with that and it's always easy to change if you like something better -we don't limit you on that. As for managed - yes that is in the plan for later. Thanks.

[Paul Wheatley]

Hi Guys

Your system makes sense (KISS)

I currently trade forex and metals using only a couple of time frames and two MAV's based on Gann's principal of time and price.

In your video you mention that you can open trades and place stops with out the broker aware of your intentions.

How is that achieved?

Thank you

Kind regards,

Paul in OZ

NetPicks Reply: Without going into too much detail this is what happens. People place their stops at the level they intend to exit - the forex trades like a rubber band - it tends to overstretch beyond certain levels especially when there are stops there to pick off. We instead have a stop - but it's what we call an emergency stop - one we expect will rarely hit - we then keep our actual closer in stop out of the market -- so we're protected "Just in case" but not just feeding the market an obvious price to pick us off.

[Monty]

Hello,

I was referred to your site by Mark McRae whose views and strategies I value very much. Having been through most of the queries in the blog I have got my answers to most of my questions, except one - your indicator seems very similar to the one used by Traders International - please tell me that it is not!
Is your method primarily trading in the trend direction ot trying to pick tops/bottoms (i.e. counter-trend trades)?
Having spent this evening going through all your videos I must say that a lot of things discussed were simply EXCELLENT and the method seems to be a sound one (as long as money management is a part of the process).
I am hoping to hear from you'll soon on release date, pricing, etc.
Rgds

NetPicks Reply: The method is completely unique - it's not the indicator it's the ruleset that goes with it plus how the set-ups work that make it go. Yes, money management is definitely a part of what we cover - we have some specific strategies on that as well - it's an eimportant element. Thanks for your interes.

[Deborah]

Hi. This looks really interesting. I have been burned several times, especially in 2 situations. These 2 individuals did not give any money back guarantees or test period. I know you guys from your signal provider service. With that service you provided a (I think it was) 2 week trial. Are you going to do the same with this?? Thanks, Deb

NetPicks Reply: We will have a very specific Performance Guarantee. It does require you learn the strategy but we back it up with the performance assurance as long as the strategy is followed so you would have no risk on that at all (plus we've been in business since 1996 and stable.)

[Rob Wong]

I would like to know more of your trading methods and the costs of learning it.

NetPicks: More coming on that next few days. Thanks again for your interest.

[Mark Washington]

Hello,

I am very interested in learning your system as I have found most I have bought to be unsatisfactory.
Three questions please: Firstly, will purchaser's of your system know the indicator and the settings or does that remain proprietary?
Secondly, if the indicator is made available will the charts of GFT support it?
Thirdly, I am only interested in trading forex so can you make a package available specific to forex traders?

Thankyou

NetPicks Reply: Yes - you will know everything - it is 100% disclosed - nothing gets held back or held as proprietary. You will have everything and there is no ongoing committment to us, to a platform or a broker. As for the broker as long as they have a reasonable list of indicators they should have it in their platform and for forex you need 5 and 15 minute charts. There is a forex module and in the Owner's Club we have coverage of the forex everyday. It's a main market for us but you do get all the markets we show with the course strategy.

[Penelope]

This system looks amazing and I'm looking forward to more information appearing over the next few days.
Meanwhile I have a question about the timeframes you use in the Ultimate Trading Machine system. In your video demonstrations, so far you have used 1 minute, 2 minute, 3 minute, 5 minute and 10 minute timeframes.
I use MetaTrader and TCNet charting software for my trading and neither of them include a 2 or 3 minute timeframe and Metatrader does not offer a 10 minute timeframe.
Will I be able to operate your system through MetaTrader and TCNet without these timeframes?

NetPicks Reply: We only use the 15 minute and 5 minute charts on forex trading - one of the main reasons was the different timeframes weren't always available so we just adapted it to 15/5 exclusively so you'll have no problems at all. Thanks.

[Mort]

I have taken numerous courses in trading futures. I have yet to find one that works.
What makes yours different?
Can stocks be traded using your method?
Will you be offering any kind of guarantee?

Agreed - there is a lot out there. We've seen a lot of it as well. One thing that is different is you'll be seeing/hearing from those who did the beta launch back in August - and how they are doing. We have a lot of great feedback. It will come from their mouths and not ours in that case. We do have a performance guarantee that gets detailed later as well - as long as you take the time to learn the method and follow it we expect you to be positive. As for stocks yes, we do plan on having that in a future module. The same basic principles will apply and we'll be looking to show day and swing trading.

[Alex]

Hi,

Can you post trades on the emini Dow (YM)? TIA

Alex

NetPicks Reply: We'll try to work one of those over the next few days. No problem.

[Stuart]

Hi
Can you tell what software we need to use your system? I'm using VT trader which is free and would like to know if it will have the necessary indicators to use your system.

I'm afraid I cant afford Tradestation or any data feed that is expensive at the moment.

regards
Stuart

NetPicks Reply: VT Trader, I believe is for forex and that is compatible with our method. Virtually any trading platform that has a basic set of features is going to work fine. Whiel the strategy itself is proprietary we purposely made sure it can work across a number of different platforms.

[Mark]

Hi
It's all very well showing trades in hindsight. If you trade these setups please take a video of you trading live and calling the live signals. Its easily done so why not do it? It would be alot more convincing...

NetPicks Reply: There are 250 registered UTM users at this time -- you'll be seeing comments from them in the day's ahead - those taking the exact same set-ups. In addition, in the day's ahead we'll be showing you actual trade records that will match the trades as well. The great thing about this method is anyone who learns it will go back to the exact same day/chart and see the exact same trades - which is why we left all the prior videos from our first release on here - since they can all be verified. Good question.

[Jay Hunt]

Here is a dumb question, how much does a pip= equal to in us dollar terms?

NetPicks Reply: We've learned in trading there is no dumb question - when money is on the line it always pays to have an answer. As for a pip value - the answer is "it depends" but, by an large you can use $1 per pip per mini traded and $10 per pip per full size traded (equal to 10 minis) -- that is on the main currencies such as the EURUSD and GBPUSD. You can trade in multiples depending upon your account size and leverage used. Of course, you don't want to over-leverage so it's a balance.

[Jobey]

The results look very impressive, and I'm definately interested in your system.
I am wondering about the trading platform and indicator. Would I have to use the platform you are using, or will I be able to stay with the one I have at the moment?

regards

Jobey

NetPicks Reply: You do not have to use the platform we do or show. We have people probably using over a dozen different combinations. You do want to use a platform that is reliable, has a good feature set, etc... For most people you can stay with what you have, or some people change if it's a better overall value/quality. However, one of the core principles to this is once you learn this strategy you can trade it from anywhere and with virtually any decent package.

[Bill]

Can you project an approximate rollout date yet (say to the nearest week)? Tnx,

Bill

NetPicks Reply: Definitely this month and 1 - 2 weeks max is the likelihood once we finalize details. We'll have the latest updates here so keep checking back. Thanks.

[Ed Roland]

Hello-- I am a new trader and am looking forward to leaning your methodology. I could not find info on purchasing a course of study. Is something available, and what is the cost? Thanks & best regards.

NetPicks Reply: Thanks for the comment. We are putting the finishing touches on the final version and should have all that information available very soon. Definitely over the next week or so. Keep checking back for updates and details. Thanks.

[fawad khan]

what is the cost?

NetPicks Reply: We are still working on those details based upon what will be included. What I can say is this is intended to be a complete, fully flushed out strategy and not anywhere near what you see some of the training programs go for out there. The idea is to make it within the grasp of most everyone.

[David]

I been interested in your emails and postings, but it does seem to a trickle of useful trading information.

How long before we actually learn the trading strategy details enough to actually trade?

NetPicks Reply: We'll be taking a little time with this to roll it out -- but over the next few days and into next week there will be a lot more details coming. In the meantime it's a good way to start getting familiar with it and how it works. Thanks.