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NetPicks: To Succeed at Trading, Be Ready to Accept Losses

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NetPicks is a trading education and training company. Founded in 1996, at a time when online and day trading were beginning to emerge, it is now considered to be the gold standard in providing information about trading strategy to those who wish to either learn how to trade or to take their trading skills to the next level. The overall aim of the company is to guide regular people on their way to becoming skilled traders. As such, NetPicks helps their clients develop advanced trading skills to generate consistent profits. In addition to forex (FX) or foreign exchange trading, the company offers valuable information about stocks, futures, options, signals and ETFs in swing and day trading.

 

Furthermore, the company offers personalized training for a wide range of traders who are looking to invest or enhance their earnings. NetPicks prides itself on resources such as blog entries, tutorials and videos as well as curated plans to traders’ specific needs and desires. The NetPicks team is composed of experienced coaches that are available to new investors to help them successfully conduct profitable transactions.

 

NetPicks educates by means of offering training that addresses real-world needs of investors rather than focusing on theoretical and abstract concepts. It has a simple design and is easy to learn. The trading systems are designed to meet the needs of a wide spectrum of users – 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 users learn about the system by watching videos – this process is straightforward so that they can start practicing as well as trading almost immediately. The system adjusts based on the clients’ objective choices so that each client’s education is customized to meet their individual needs.

 

In a recent NetPicks blog post, the company discusses the importance of mindset when it comes to achieving positive results. In particular, the post focuses on the significance of handling losses properly as means to trading success. Trading psychology and mindset, according to top traders, is 90% of their trading game.

“These traders take each loss in stride and treat a loss as part of doing business. They don’t rant on social media about the unfairness of the market. They don’t play the victim but understand that a loss is expected for their trading plan,” according to the post. NetPicks urges traders to to accept their losses and view them as something positive rather than a hurdle – this, according to the post, will not paralyze them but allow them to succeed.

 

NetPicks urges their traders to have a trading plan that will allow them to have “some idea of the expectancy of their trading system” so that they understand the random distribution of their wins/losses. The plan should include an exit strategy that traders ought to follow in the case of a trade that is not performing. If all steps of the plan are followed, traders will experience what NetPicks calls a ‘positive loss.’ “Taking the loss at your predetermined cut off point is consistency in action and proof that you are following your trading plan. That is a positive loss to take,” the blog post advises.

 

On the other hand, a negative loss is one when the trader has lost money as a result of not following their rules of stopping or exiting. The blog post advises traders to be adamant about following their exit strategies – that is the only way to avoid a negative loss.

 

According to the blog post, traders have two exits in their trades, their profit and their protective stop. Furthermore, one never really knows which trader is a winner, as that is dependent on both the market as well as the bias of other traders. Ultimately, NetPicks advises traders to adjust their expectations. Instead of expecting to win, they ought to seek a positive outcome. Traders should expect to lose a certain amount of time but should make sure they are “adhering to the predetermined exit price in the case a loss leaves them with an account that is still ready to take another trade.” This will enable them to continue trading without losing confidence.

 

NetPicks was founded by Mark Soberman and is headquartered in Irving, Texas. Its team is composed of professional coaches – every one of them having been a NetPicks client in the past – who continue to make investments on a daily basis. As such, they ensure that they are up to date and have opportunities to experience the lows and highs associated with trading and know what to do in every situation. In other words, they are knowledgeable about and current on today’s financial markets. This makes them ready 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.

Soberman has more than 25 years of trading and over 17 years of experience as a trading educator. He enjoys teaching others his methods for success. Soberman states that he founded NetPicks at a time when people traded stocks the most. Trading options expanded, and he analyzed and picked out the most beneficial ones. 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.

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