NetPicks is an online trading strategy company that is considered to be the gold standard in trading education and training. The aim of the company is to guide regular people on their way to becoming skilled traders by helping them develop advanced trading skills and generate consistent profits. In addition to forex (FX) or foreign exchange trading, NetPicks offers valuable information about stocks, futures, options, signals and ETFs in swing and day trading.
NetPicks is cognizant of the difficulties that come with trading, especially for those who are new to it. This is true for day trading, where many start off, as well as for the overwhelming number of possibilities, including Forex, Futures as well as Options and the Stock market.
According to NetPicks’ survey of clients who are new to the company, “the number of people losing ranges from 88 – 92% at the time when they first come to us. They come to us because they want to succeed at trading and obtain whatever goals they have set for themselves.” The company also underlines that with discipline, it is not impossible to obtain long-term success in trading.
NetPicks has published an article in which the company discusses the five items that traders – either day or swing – can do to improve their chances of succeeding. One is that traders ought to look for a 65% winning percentage or, as the company calls it “two thirds/one thirds,” whereby the odds will always be in the trader’s favor to win a trade. As such, traders accept the fact that too high an accuracy level comes at the expense or a high or even unacceptable risk level and that that is not sustainable long term.
Another item on the list is that traders ought to accept reasonable average win to average loss ratios. Reward/risk ratios should be anywhere from 1:1 to about 1.5:1. Otherwise the traders are risking that their winning percentages will fall too low and that they would go “off book” and start chasing trades.
Embracing the power of quitting is the next advice on NetPicks’ list. In other words, finding a way to stop over-trading and knowing the prime time trading periods of the markets of interest will increase a trader’s chances of success. This especially pertains to all day trading – Forex, futures and stocks, while swing traders ought to limit their trades, too.
The next of the five things on the list is that traders must accept regular losing trades as well as the fact that they might be wrong about the trades they pick. Successful trading should only be assessed based on 50 to 100 to more trades, and having a power of quitting plan is important. Trading only during peak hours enables a trader to learn their trading edge during the best times, which can help attenuate the risk of taking too many losing trades in a row.
Lastly, the traders ought to follow the strategy as documented and demo trade 25 trades in a row, without real funds, error-free. That way, traders will begin to train their mind and develop some habits as well as instant instincts in order to really learn the trading rules. Otherwise they will lose money. Traders are also urged to keep a trading journal and document their feelings during trading sessions in order to better get to themselves as traders. By means of following how they felt, they may avoid possible future mistakes.
President and founder Mark Soberman started NetPicks in 1996, at a time when day trading and online trading had just started. The company provides personalized training for a wide range of traders who are looking to invest or enhance their earnings. With resources such as blog entries, tutorials, videos, experienced coaches and a plan that is customized to a trader’s specific needs, new investors are equipped to conduct profitable transactions.
Rather than focusing on theories as means to learning, NetPicks’ aim is to offer training that specifically addresses real-world needs of investors via a system that has a simple design and is easy to learn. The company’s trading systems are specifically designed to meet a wide spectrum of needs ranging from those for whom trading is a full-time career, to those who are seeking part-time income with trading to those who want to be done in minutes. NetPicks enables its users to learn about the system in as little time as possible by following its video training sessions and practice exercises that will enable them to start practicing as well as trading almost immediately. Clients choose their objectives and the system does the rest of the work. In other words, each client’s education is customized to meet their individual needs. NetPicks also offers impeccable customer support.
Headquartered in Irving, Texas, the company’s team is made up of professional coaches – every one of them having been a NetPicks client in the past – who continue to make investments on a daily basis. This enables them to experience the lows and highs associated with trading and know what to do in every situation. As such, they are knowledgeable about and current on today’s financial markets and are equipped to provide one-on-one technical support and trading education as well as help clients understand complex investing concepts and supply feedback on new trading techniques or strategies.
According to Soberman, NetPicks was founded at a time when people most traded stocks. As trading options expanded, he meticulously analyzed which ones were the most beneficial. At that time, “I knew I had endless passion for trading and in my mind I felt there was an opportunity to provide very specific, realistic training and exact trade signals,” Soberman states. Soberman’s background encompasses more than 25 years of trading and over 17 years of experience as a trading educator. Furthermore, he enjoys teaching others his methods for success. Soberman is also an entrepreneur – in addition to founding NetPicks, he is founder of two other companies.