New EURJPY Trading from Today

24 05 2007

This video you’ll be able to watch with the link just below is going to take you through the Universal Market Trader, trading the EURJPY forex currency pair.  We show a daytrading approach in this example and cover the last 24 hours where we had 4 profitable set-ups and 1 negative set-up.  This gave us over 60 pips of profit on these set-ups and you get to see us walk through the strategy.  You’ll see it is not difficult to identify the entry levels and we show you how we simply have a mechanical place to put our stops on each trade, and from there make one quick calculation to get our profit target.  These stops/targets are dynamic, meaning they are adjusted by the activity on the charts to take into account the current price action – which tunes them up nicely to how the markets are trading ‘now’ — rather then impose one fixed target and stop.  The name of the game with this method is all about flexibility and targets and stops are get adjusted in an easy way on every trade.  It’s important to always have an exact game plan on your trades and we try to give you that at all times.

 Here’s the latest video:




14 responses

24 05 2007
Michael Grant

Very, very interesting. You guys are so helpful and smart. I have a lot of trust in your programs.
I could see having a stategy that could be pretty automated with the clarity of the signals. I hope it is geared for different platforms. I am ready for it now!

NetPicks Reply: We always look and work on ways to make it “easier” and some automation or at the very least clear identifiers of the trade conditions being met and/or alerted will be among the objectives as it continues to evolve. We are also going to have it ready to go for multiple platforms at the outset. Thanks for your interest and comments.

25 05 2007

The time frame is in ticks. What does that mean?
How are your trend lines drawn. Are they SMA or EMA?

NetPicks Reply: Tick charts are bars that are formed after x amount of “ticks” movement in price up or down — rather then a preset timeframe. The reason they can be very effective is due to the fact that when markets are very slow – the bars form slower — with time charts you might get more of a muddled/confusing chart since it is forced to close a bar every “xx” amount of time. In addition, when movement is fast, sometimes with time charts you are having to wait for the clock to reach a time to get your set-up — with ticks it can close the bars quicker for a set-up. Doesn’t mean it is not very viable to use time charts — it is — sometimes it’s just preference. The trend lines are not moving averages — you can probably tell by the smoothness and the way the ranges stay spaced out — unlike moving averages. Based upon price, velocity and different look back periods Thanks for the questions.

25 05 2007
Paulo Gomes

I’m speechless! It sounds so fantastic… Almost to good to be true!…
I sure hope it is!
I want to be in the course, so please let me know when it starts.
Is the charting software provided with the course?
Hope you’re starting the course soon as I feel I really need it and God knows my trading could use a LITTLE help…
Nice job, keep it up…

NetPicks Reply: Thanks for the nice comments. The availability is going to come up very soon and you’ll be able to get onboard. The charting we work with will be several of the major platforms including Tradestation, eSignal, Metatrader, NinjaTrader and others — with more being added per the demand/requests. The indicators are all custom so they are built for each platform and we’ll do our best to make it as widely available as possible. Thanks again for your interest.

25 05 2007

It Looks very interesting. What charting package or packages will it work on?. I currently use TC2007 (TcNet) & QuoteTracker using an IB data feed. Thanks. Ed.
NetPicks Reply: We’ll be releasing those specifics shortly but I can tell you at a minimum Tradestation, eSignal, Metatrader and NinjaTrader (which uses the IB feed if you like) plus a couple more. Then, depending upon requests we’ll look to add additional ones and have the indicators custom programmed for other platforms that have the most demand. Thanks.

25 05 2007

Does your tool provide some kind of scanning functionality to determine which pair (in the case of Forex) has the best setup in relation to your rules on any given time frame (say 55 ticks or whatever)?
In the case of Metatrader will this be just a simple indicator or will there be a program behind it?
Lastly, just how important is entry value? For example, if you say a buy is necessary on GBP/USD for 1.9800 and the spread is 4 pips, should entry be made at 1.9804 (thus being triggered at 1.9800) or will it still be 1.9800 (being triggered at 1.9796) or is that just being to nitpicky?

NetPicks Reply: On your first question we’ll suggest to you what we’ve seen to be the best timeframes for the pairs – in addition, we show you how to determine other ones on any other pair you like to trade — it’s a fairly simple evaluation. With MetaTrader, it will be a set of custom indicators. On the entries – whenever you buy in forex you have to pay spread — so if the entry price is 1.9800 you’d place it at 1.9804 — you have to pay spread in the buy direction. Thanks for the questions.

25 05 2007

I like the way it looks… will it go well with the indicators we have set up with UTM… When will the software be out and how much $$$$ Thanks

NetPicks Reply: I think you’ll find it will be very complementary but I wouldn’t be surprised if it quickly becomes your primary approach. Will be out very soon — promise it won’t be a long wait at all for both availability and price. Thanks.

25 05 2007
Lisa A

Just watched the EUR/JPY trade – awesome! I need you badly.
When will this be launched?
How much will it cost?
What training will there be?
Do we get the signals by email alert for the pairs we want to trade?
How does the entire concept come together?
I want to know everything bcs I think it’s the best thing since sliced bread.
Best wishes.
Lisa A
London, UK (forex fanatic)

NetPicks Reply: I’ll try to answer some of your questions. The cost and availability are due to be released very shortly – you will not have long to wait at all. The training itself will be fully detailed but this is going to go well beyond just a basic course — in addition to video training, there will be live, interactive training — in the comfort of your home/office and on a regular (weekly) basis — both helping you learn and then master the strategy. Nothing is better than learning, starting to trade live and then being able to go back over everything and get to a “mastery” level – and that’s what we are committed to doing with this strategy/course. In addition, there will be a full support community of traders just like yourself sharing experiences and timeframes, markets, etc… and daily updates. We are if anything going to do everything we can to over-deliver in these areas. Thanks for your questions and looking forward to having you onboard.

28 05 2007
Steve A

I currently use the UTM strategy with a slight variation but am also interested in this method.Can you show some intraday stuff on forex using timeframe aswell as tick charts so those of us who use metatrader can see its full potential.
Looks Promising
Steve A
United Kingdom

NetPicks Reply: Yes, sounds like a good idea. Next forex video we do we’ll show tick as well as timeframe so you can see both. You can definitely use timeframes whether you like to day or swing trade. Thanks.

28 05 2007

Can you show an example using the forex futures, like EC or BP, etc.? Thanks.

NetPicks Reply: In the next forex video we do I have a note to cover both timeframe and tick, plus show the same session on either the EC or BP so yes, definitely, will get you some examples — should have that posted Tuesday (5/29) Thanks.

29 05 2007
Lisa A

I understand the rule for placing your stop i.e. the higher band above the closing candle where you have the crossover, but where do you place your stop when you are re-entering after a pull back?


29 05 2007
John Hosey

Could we see your system on the S & P emini please.

NetPicks Reply: I’ll put it on the request list for this week. Thanks for the suggestion.

30 05 2007
Steve A

I have a question about the entry points,on this video you show an entry when the lines cross but on some of the other videos you show your entry before they cross,an example is on the dow video which clearly shows entry well before they cross.Do i take this as an entry can be taken if the price closes below the trendlines and entry is a feww pips beyond this.
It would help if you could clarify this before release as it contradicts the mechanical entry.
Thanks in advance
Steve A
United Kingdom

NetPicks Reply: We have two key entry set-ups — one is a reversal set-up — with that we can get in before the cross-over happens — it happens when our overbought/oversold readings are hit — and gives us a calculated exact entry. In those cases we get in early because our odds are high of success — so we don’t have to wait for the cross-over. Those trades start out counter-trend as well so we need to get in a bit earlier in case the trend does not change – we can still succeed wiht the trade. Hope that helps explain it — two very distinct entries -the reversal doesn’t set-up everytime – only when certain conditions are met but it remains mechanical and you’ll always know when to use it. Thanks for the good question.

31 05 2007

Where will you anounce that the system is available and how much etc? In this blog?

7 06 2007

Hi! nice site!

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