Netpicks Ultimate Trading Machine

Interesting.... I talked to the guy selling his on ebay. Evidentally Netpicks cut him off the web site because he is selling it. He says the website is worthless anyhow..

That bugs me. I was on the "webinar" with Anthony when he was selling this. He said the members only web site was awesome. So if he lied about that, he would lie about his system.

OR the Ebayer is downplaying it as not to make it look like a big loss..
 
The strategy from what I understand is pretty simple, basically momentum trading for short time periods, (positive expectancy), with appropriate risk and money management rules.

Look at: http://www.trade2win.com/boards/showthread.php?t=20529&page=21&pp=10&highlight=DBPHOENIX


This chap employs 2 moving averages and has proved to himself that it works the way he executes his strategy, many have tried on his journal to introduce other indicators etc but he stuck to his plan.

Eventually it all boils down to discipline to stick to the rules of a proven strategy. taking in both losses and gains, but as usual we all desire 100%, don't we:)))

As for the website I am told it is O.K, there is the forum to interact with other UTM owners, plus daily videos of trades by Anthony & co, and ofcourse the ususal Q& A.
 
Greetings all. I just found this thread… I don’t typically browse this forum.

I am a UTM owner. I purchased the system from Netpicks on the initial release in mid-August. I have been trading it since September.

I will share my opinion of the system, but I will not be divulging specific system mechanics. An NDA is part of the purchase and I will honor it.

Overall I’m pleased with the system. Although September was not a particularly good month for me, (however in all fairness some of that was due to my own mistakes) the system performance was not stellar. But October was extremely good with the UTM. November is off to a solid start as well.

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 you’d be at a disadvantage. My first complaint about the system is that there are 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 complaint, although there is no subjectivity in the trading rules themselves there is a great deal of subjectivity 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 EURUSD, GBPUSD for forex… or a mix). And they just released modules for the Nasdaq and Dow e-minis.

I’ve done my own backtesting 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 complaint. 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 the “they don’t post performance so it must be bad” line of thinking. I am trading the system, I did my own backtesting 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.

Anyway, just the thoughts of one UTM owner.
 
Quote from aimless:

Greetings all. I just found this thread… I don’t typically browse this forum.

I am a UTM owner. I purchased the system from Netpicks on the initial release in mid-August. I have been trading it since September.

I will share my opinion of the system, but I will not be divulging specific system mechanics. An NDA is part of the purchase and I will honor it.

Overall I’m pleased with the system. Although September was not a particularly good month for me, (however in all fairness some of that was due to my own mistakes) the system performance was not stellar. But October was extremely good with the UTM. November is off to a solid start as well.

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 you’d be at a disadvantage. My first complaint about the system is that there are 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 complaint, although there is no subjectivity in the trading rules themselves there is a great deal of subjectivity 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 EURUSD, GBPUSD for forex… or a mix). And they just released modules for the Nasdaq and Dow e-minis.

I’ve done my own backtesting 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 complaint. 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 the “they don’t post performance so it must be bad” line of thinking. I am trading the system, I did my own backtesting 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.

Anyway, just the thoughts of one UTM owner.
More...

Thanks for taking the time to post that thoughtful review. :)

While I am not interested in UTM at this time, it's nice to see someone take the time to compile an objective review post.
 
I see there are 50 more ultimate trading machines up for sale, and there will be more at some trading exhibition.
Still, there none on ebay at the moment, so they might be some good.
Any more comments from users?
 
john, the add'l 50 were a new 'autotrader' system for tradestation only avail to existing owners.

i've been trying to get it straight since 11/1. about 1/2 the time i see the signals same as their video recap. usu., i agree that i had misread signal after the fact. however, i also continue to ask them to post their ACTUAL results and to post backtest results of the 3 different strategies for different markets - to no avail.

since i'm not EL proficient, i'm unable to attempt to program it myself and they wanted an add'l $800 odd for the 'auto' strategy - which they SAY can be backtested by T/S - even tho they have not done it.

for the entire mo of nov., in my spreadsheet, i sho the conservative one win strategy at + 5.50 ER2 pts for 19 trading days [14 profitable] [before commis].

we shall see.
 
What do you know, a new campaign underway with a Public Seminar on the 12th Dec from UTM with the aim of marketing a further 500 for a quick 500k.

Last time it was the final 500, not a bad way to make money, sure bits trading in realtime.
 
Yup.. not a bad way at all... I remember the sense of urgency on the last 500.... Get it while you can....

Think I'll pass on this one too
 
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