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NetPicks.com Review

Overall Rating: (1.889)
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Total Reviews: 53
Last Updated: 2014-04-23
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-11
Review: We haven't tried the forex trading signals from NetPicks,com. If you've used these in your forex trading, please leave a review here.

Nellabelle, Sydney, Australia

Rating:
Date of Post:2014-04-20
Review: Netpicks are not honourable to their purchase agreements. I purchased Keltner Bells from Netpicks, followed the rules and system closely as per instructions, lost -10% of my 2 demo accounts 2 months in a row. Requested a refund within the first month of purchase, forwarding my results to them. My request for a refund ($700) was denied. They had promised that a refund would be granted if 1000 pips profit was not made in the first month. Turns out that the 1000 pip guarantee was based on their results, not mine, a fact not included in their sales pitch. Their website only recorded trades from the past few days, not the whole month, so no accountability. When they eventually sent me a spreadsheet of their results, after much prompting, many of the losing trades had been omitted. It is a mechanical system, so results should have been the same as mine. They are dishonourable, dishonest scammers.

Trader M, Europe, Germany

Rating:
Date of Post:2014-03-24
Review: I joined Trend Jumper 3 months ago and bought the Pro version including the automation. I followed the plans taken from the owners club for futures, stocks and tried everything to make them work. In the end each one of them failed and lost money over time. When I tried to tell my experience to the coaches the showed a very rude behavior. I recommend to stay away from Netpicks and not fall into their sales pitch which doesnt reflect the reality.

J. N., USA, USA

Rating:
Date of Post:2013-10-19
Review: Joined Netpicks Trend Jumper. They claim makes 1,000's of pips, but cannot show you a MT4 statement of proof and when questioned why I had big loosing trades they did not show, they told me it was the broker's charts and sometimes you get a false signal. Easy to use, but results are not what they claim, and not worth your money. I was a member of the owners club and live trade room this focused mostly on future, not fores. I alsoI found they offer a live trade room for the forex where they make calls live but then told that they are stopping this, not given a good reason as to why they are stopping it. One can only conclude that it is not good. They are touting huge pip gains in End of Day traded using the trend jumper, but yet to see any of this, and the live trading room they are doing away would require they actually produce the pips they claim to in back tests.

Ralph, Adelaide, Australia

Rating:
Date of Post:2013-08-21
Review: My experiance has been all good i was charged for services I did not want and got an instant no questions asked refund.
My results EOD trading FX with trend jumper in the first 2 months I was up some 40% since then I have drawndown some 7% but that is to be expected as its holiday season in us and market go quiet.
Will let you know when it takes off again but I find using proper money managment the drawdown is well within expectationand the service I got as stated has been great very happy to recomend them

trader skip, New York, USA

Rating:
Date of Post:2013-07-01
Review: If you buy any of their system you do NOT own it, they retain complete control of it. They can turn it off at any moment. I have three of their systems, Their track records are cooked. They simply leave off some of their worst losses and magically they make a very nice return. I did fiddle with their automated system and man aged to get my own version of their trend jumper working profitably but that is not their system. I have essentially lost 7 months of 80 hour work weeks and am just now getting back to being in the black. But they can turn off my system anytime, not good. I would escalate to trader's court but don't feel like making the effort. Though they should be put out of business.
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L Kauf, Ohio, USA, , currently in Ukraine

Rating:
Date of Post:2013-05-26
Review: Like many traders that visit this site, I've been seriously testing trading systems and strategies for for quite a few years (10+), many free strategies with experts and indicators on the FX forum sites, and 7-8 costing $1000-3000 each. Between 2010-12 I purchased and tested three of Netpicks trading systems; the HVMM, SST, and Keltner Bells. Since then I've been intending to post my experience here for the financial benefit of others.

The Netpicks HVMM and SST I tested on NinjaTrader and Metatrader, and Keltner Bells on Metatrader. After a month of trading the first system, HVMM, I didn't show a profit, so I sent Netpicks my trade documentation and they refunded my money. Although the trading wasn't profitable my interactions with their support staff was positive, so I purchased the next improved system, the SST. I traded this daily, adjusting the settings as per their website updates for several months. I found it better than the HVMM, but from posts on their website it seemed that of all the FX and Futures markets they traded with it , only the Russel and Oil were long term profitable. FX pairs would sometimes be profitable, but then not. Though I traded this almost daily on FX and Russel, I found my results only slightly profitable. I then got busy with my job, so kept the system but stopped trading it. I didn't ask for a refund.

In 2012 I purchased the Keltner Bells system and diligently setup the required Renko and Range bars charts necessary to support the KB indicators, and then traded about eight pairs each on Renko and Range bar charts. I diligently made the adjustments to the indicators which Netpicks posted a couple times a week. Almost every FX pair+ Renko or Range bar and time frame had unique settings which were required for it to be profitable. Although I followed all directions correctly the data from my MT4 broker was often different than theirs on Tradestation. This would often make the difference between a signal on their charts and no signal on my chart. Although I visited the NP site several times a week to check on settings updates, I might have missed a change they made the day before which gave them a profit today. At the end of 3.5 weeks trading my account was in the red -$100. Their initial web posted guarantee said that you had 30 days to test the 'performance' of the system in order to evaluate it. So as 30 days approached, I forwarded my MT4 trade record and requested a refund. At that point I was informed that the performance guarantee was based on THEIR trading performance, not on MY documented trade performance !! LOL According to their records they had logged 1000 pips of profits. This still makes me laugh and I should have been more hard headed at the time to insist on them honoring the refund policy rather than allowing them to play a sly game of semantics. I let it slide but have felt obligated to alert others to this pitfall by posting my experience here.

Excerpts of my letters;

"Hello Keltner Bells Support,
I have tested the Keltner Bells system for the last month on a demo MT4
account and have decided that I would like to return it for a refund. I
downloaded indicators and installed on an ATC broker MT4 demo account on
January 26. In my demo MT4 trade account I placed 43 trades taking signals
a couple times a day as indicated by signals on both Range and Renko bar
charts. I did adjust all pair settings as indicated by the updated chart on
the owner's site. After ups and downs in the account P/L, I have ended 3.5
weeks slightly in the red. On the attached statement all are KB trades
except one trade on 2-1-2012 for -$67.89. As you can see the account trade
results for KB trades would have been about -$100 for that period.

Please advise on any additional procedure I should follow to complete the
refund process.
Thank you"
----------------------------------------------------------

"The Keltner Bells came with a performace guarantee from our posts not a no questions asked return. I will attach the sales link with the return guarantee. We can and will refund your Lifetime Owners club. Let us know if you need any further help in using the KB and making good money with it.
The performace has been very good the last month, so it did make the 1000 pips.
This is the link to how the trades have done.
Not sure what pairs you were trading...compare with what we have posted each night.
- a Netpicks rep
---------------------------------------------

Overall my opinion of Netpicks would be positive and negative.
Positive:
Their webinar and video presentations are upbeat and positive in tone and there is an obvious effort to create profitable systems.
Their trading systems are visually attractive with their signals printing entry levels and TP and SL levels on the chart, which makes trades easy to manage.

Negative:
Although they have improved their programming for the Metatrader version of their system indicators, you'll be much happier and in sync with their displayed charts (and their profits) generated on Tradestation charts. Trust me on this.
The settings for all their system indicators are changed very often in order to keep the system profitable. The setting changes in Keltner Bells was the worst, as settings were usually unique for each of the combinations of 'FX pair_+renko/range+ chart time (15m, 1H, etc.)'. So approximately settings changes for 8 pr. x 3 indie settings each X Renko or Range x ~2 time frames = ~ 96 adjustments, two or three times a week. It's more work than a full-time job! This constant need to adjust settings in KB and other Netpicks systems requires that you remain a long term member and pay the $177/mth, (less if by the year) in order to keep the system profitable.

After observing this fact with all three Netpicks systems, I'd have to say that the regular changes to system settings began to look like "curve-fitting" of the system. That is, the underlying systems do not appear to be robust enough to weather market fluctuations. With Netpicks systems you will not be learning a trading system which will develop you into a long term, independent, and profitable trader. Despite the friendliness of the staff and management, if you're looking for long term success as a trader, I'd look elsewhere. Just my two cents.

Gary Edwards, England, United Kingdom

Rating:
Date of Post:2013-03-26
Review: Do not deal with these people, i cancelled the lame system and then they try to charge your card for more than the actual system was supposed to cost, complete fraud. AVOID!!

Darius, Vilnius, Lithuania

Rating:
Date of Post:2013-01-22
Review: They are just perfect marketers. I like Mark Soberman. And I like their indicator, called "calculator". It looks really good. Just perfect.
System ? With the same results You can trade simple MA cross system or use hundreds variations of "buy/sell" arrows taken from forexfactory, forex-tsd, etc etc. All their systems: HVMM, SST, ODST, UST etc, etc are ONE basic trend follow system with different basic indicators combination. They can produce new system each year ( or every month, if they like) changing CCI to RSI, RSI to MACD, keltner channel to bolinger bands and so on. And they will do, I think, with a great success.
And finally I must say: You should spend a lot of time for backtesting and optimizing their calculator parameters and You will be profitable.
One star for system and 5 stars - for indicator (calculator).

CJ, CA, USA

Rating:
Date of Post:2012-11-03
Review: Don't trust these scammers. I lost like $3k following their live signals. Some of the dopes in the room are the same people or actors I'll bet. They always show up the "past year's result" which is nothing more than fiddling around until they get some good backtest simulated result. They trade real money? hah! warning; Their new site is www.premiertraderuniveristy.com
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