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- Ricks Picks
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Rick’s Picks is a smaller online day trading platform with a bit more personality than the average day trading site. Ricks Picks is more focused on trading gold and metals than stocks. I have heard from many people that it is overly complicated. who brings a compelling mix of communication and financial expertise. This is in addition to his unique Hidden Pivot technique, a trading strategy he teaches in a three hour online course. For just $49 a month, you have access to his daily trading newsletter, the Trading Chat Room and the Banter Chat Room. The Hidden Pivot Webinar has a one-time fee of $997.
Online day trading platforms have two distinct categories: the site operation and the team of experts. Both are equally important. You want the site to have powerful technical capabilities so you can always stay up-to-date on the latest market changes. At the same time, you also want access to an expert from which you can learn.
There can be some pretty colorful characters in the world of online day trading, and Rick Ackerman is certainly no exception. His biography is a bit different than that of many other online day traders.
What’s “Rick’s Picks” all about? Is this a good choice for online day trading? I took an in-depth look at all the features of Rick’s Picks. What features work well for day traders and where does the platform fall short? My complete review of Rick’s Picks starts here:
Overview of Services
As you can see from the screenshots, Rick’s Picks has a very distinct, almost old-fashioned look. But their services offered are right in line with current online trading needs. The platform offers:
- A full-service chat room where you can watch (and learn from) experts in real-time. Unlike many other services, the Chat Room at Rick’s is open 24/7 so subscribers can discuss trades at all hours.
- Real-time online sessions where Rick answers customer questions
- Daily trading recommendations and strategies delivered directly to you before the start of each trading day
- Forecasts for stocks, options, mini-indexes, gold, and silver. While stocks are obviously popular for day trading, this is one of the few platforms around for some of those others.
So, Just Who is This Rick Guy?
More than most online trading platforms, Rick’s Picks is built around one individual – Rick Ackerman. So, who is he? Let’s take a look.
Rick has a varied and exciting background, not all of it in finance. He spent seven years as a reporter and newspaper editor. He has an additional three years of experience as a columnist for the Sunday San Franciso Examiner, as well as decades of experience as a freelance contributor to a variety of publications.
But that’s just one aspect of his background. He also spent 12 years on the floor of the Pacific Coast Exchange as a market maker.
In the early 90s, he began Black Box Forecasts. This was a newsletter geared towards professional options traders. His experience in journalism and finance collided in an unusual way when he helped catch a Merrill Lynch trader who had attempted to poison prescription medication in a bizarre security fraud scheme. Rick helped prevent injury and was featured in various national news stories.
Black Box Forecasts eventually turned into Rick’s Picks, where Rick is the editor, primary chat moderator, and primary content creator. His unique background is a strong selling point for Rick’s Picks.
I’ve reviewed many day trading platforms. Often, I run into a common problem. The experts behind the service know their stuff, financially, but have difficulty communicating their knowledge in blogs, videos, and other original content
He publishes a steady stream of industry analysis right on his home page. You don’t even have to be a subscriber to read his daily market updates. Here’s a sample:
He’s also pretty accessible in the chat room and by private message. Of course, while longer analysis is useful, so is information which is quick and easy to scan. He uses a color coordinated system of symbols during the trading day which he calls The Touts.
The Chat Rooms
Like most other online day trading services, most of the action takes place in the Chat areas. Here’s a shot of a Live Chat Room during an active trading session:
Let’s take a deeper look.
The Chat Room can be broken down into four sections:
The Main Chat room is where Subscribers and Moderators discuss trading trends, exit strategies, and other stock movements. The chat room shows the time of the post, the poster and then whatever message you send.
Underneath the main window is your typing area. Underneath that is a legend. As you can see, different people are identified by differently colored names. Rick is green, Administrators (A.K.A. Official Moderators) are a light blue-green, and HP Graduates (more on them later) are a dark blue. The color coordination is especially useful during busy trading periods where keeping track of every individual can be confusing.
On the right side of the screen is the list of all Users currently in the Chat Room. Unfortunately, there seems to be no way to send Users a Direct Message or read a short bio. Private messages are a relatively common feature found in other trading platforms but perhaps not a very necessary one.
On the other hand, one unique feature found here is their Banter chat room. The Banter room is a looser, more fun chat room. Discussions range from broad finances to just current events in general. Here’s a picture from the Banter room during the day:
As you can see, Rick himself chats in the Banter room. I didn’t spend a ton of time in the Banter room, but I like that subscribers have a place to go if they want to talk about something besides current trades. This keeps the main Chat Room chatter-free while still letting people form a community.
Rick offers a few different events each month. Here are a sample Events Calendar:
He has his Hidden Pivot Seminar every month. I’ll discuss this later on in greater detail, but this is a three-hour live webinar where he teaches the Hidden Pivot technique, his signature trading process.
He also offers a one-hour tutorial on the Hidden Pivot every Wednesday. These are also only available for Members.
Aside from these regular events, he also has occasional webinars on other topics. Plus, Rick is often found in the Chat Rooms (including the Banter Room).
What is the Hidden Pivot?
Throughout the site, you’ll see many mentions of a technique called the Hidden Pivot. These are “the exact middle and end points” of natural stock re-balancings. Rick will show you how to identify price-inflection points with high precision.
Unfortunately, I can’t go into a ton of detail about the Hidden Pivot strategies. That info is for graduates of his HP Academy. You’ll need a three-month subscription to his HP Tutorial Plan to access the Academy.
The Academy is a three-hour live course usually held near the end of each month. You’ll be able to interact with Rick and the class. This audience participation leads to a greater learning environment.
You can learn quite a bit more about the Hidden Pivot Method simply by checking out his site. He offers a 9-minute instructional video which shows you the basics:
Prices and Subscription Plans
Finding prices was a bit difficult. They want you to sign up for their two-week free trial. The Trial gives you access to two weeks of Rick’s Picks for free.
Of course, the idea is that once two weeks go by you’ll like Rick’s Picks so well that you’ll then sign up for a subscription plan. To be honest, there’s not a lot of risks here. If you don’t like the two weeks of newsletters, you’re under no obligation to continue.
Rick’s Picks has a variety of subscription plans:
For just $49 you can get a one-month subscription. The service gives you access to daily newsletters and the chat rooms. Note that this auto-renews at the end of each month unless you cancel.
Like many other day trading services, you can save money by subscribing for a longer period. Here’s a complete price list:
The Hidden Pivot Online Seminar
For $997, you get access to Rick’s Pick’s Hidden Pivot Online Seminar. The 997 dollar course includes a three-hour live seminar where you’ll learn the Hidden Pivot trading method. This plan also includes full website access for three months and 12 sessions of additional Hidden Pivot Tutorial sessions, which are available each Wednesday.
After you’re an HP graduate, you’ll get a special designation on your name in the chat room. You’ll also get access to the Wednesday HP Training Sessions. The Wednesday webinars are an excellent way to ask Rick directly about any questions you might have as you begin trading for real with the Hidden Pivot strategies.
- Rick. Founder and Head Moderator Rick provides a unique perspective. His always bold, sometimes irreverent take on the day’s trading is sure to entertain and inform.
- Hidden Pivot System. HP is a unique trading philosophy that does seem to generate results. If you’re willing to take the time (and spend the money) to learn the HP System, you’ll have know-how many other traders never learn…
- Rick. The site is centered almost entirely on his persona. If you like what he says and how he says it, then this site is for you. But if you don’t… well, the site will probably be pretty unbearable.
Fortunately, Rick writes all the copy himself. So you can easily get a sense if his style works for you simply by scanning the home page.
- There’s a lot to read. While there are some videos and webinars, the bulk of the information are written posts. The majority of writing is likely due to Rick’s journalism background. If you prefer to learn about day trading via video, this might not be the platform for you.
Is Rick’s Picks Worth the Money?
If you’re like Rick’s style and what to hear more about what he has to say about each day’s trading session, then you’re in luck. His daily newsletter and access to all of the Rick’s Picks Chat Rooms are only $49 a month. Consider you get at least 20 newsletters a month (one every weekday) as well as unlimited access to two chat rooms which are open 24/7; I think $49 is worth the money.
As far as the Hidden Pivot training session, that’s a different question. At close to a thousand dollars, I can’t recommend this course for every trader. But if you’ve watched his free videos about the HP technique and are dedicated to learning more, then the three-hour course might be a sound investment. As a graduate of the Hidden Pivot course, you’ll then have access to additional HP training materials on the site.
Overall, there’s a lot to like about Rick and his engaging platform. He has a fun, straight-forward style and unusual trading techniques you likely won’t find anywhere else. I feel that the $49 subscription plan is worth consideration by all day traders. Rick will certainly keep you informed, entertained and in-the-know. The Hidden Pivot technique – which not for everyone – can be a very useful tool for more experienced or adventurous traders.
Have you read Rick’s newsletters or traded in his chat rooms? Tell us about your experiences with Rick’s Picks in the comments below.
Rick’s Picks: Review
Summary: Rick’s Picks is a smaller online day trading platform with a bit more personality than the average day trading site. Ricks Picks is more focused on trading gold and metals than stocks. I have heard from many people that it is overly complicated. who brings a compelling mix of communication and financial expertise. This is in addition to his unique Hidden Pivot technique, a trading strategy he teaches in a three hour online course. For just $49 a month, you have access to his daily trading newsletter, the Trading Chat Room and the Banter Chat Room. The Hidden Pivot Webinar has a one-time fee of $997.