Comments on: Why I Quit Millennium Traders Forex Signals

By: Charley

Charley — Thu, 23 Oct 2008 17:01:59 +0000

I would like to defend Millennium here. Especially based upon Jonathan’s comments. I will admit when I first got to Millennium and saw the performance I was wowed by it. It looked amazing simply put. I joined on the one week free trial. As a warning they DO NOT provide exits (as jonathan said they did). And if you read their site it clearly stats that. At first I was like WTF? No exits. Then the guy JT made a good point, each trader needs different exits. Someone trading one mini should have a different exit point then someone trading 10 standard lots. After talking to him and taking the one on one training (which I found to be quite cheap, $750, compared to some of the several thousand $$$$ training packages I have bought at other places).

Anyway the signals are great and I make good money off it. It takes time to adjust your strategy overtime but nonetheless you can make very good money. The service is professional and cheap (only $125/mo if you go annual like me).

I myself have also seen JT flip on a newbie trader. I think they could handle the situation better but it gets annoying to myself as well when a newbie trader starts coming in there asking all sorts of questions when the information is on the site. That happens all the time with traders, not just at Millennium.

Overall I would rate them 4/5. They could improve things with their interface to make it more signals and less chat. I would recommend you give them a shot.

By: jim

jim — Mon, 25 Aug 2008 00:27:33 +0000

I have had tyhe same experience with Millenyum and I am suspicious of their trade results. I followed pretty closely all the calls and after 5 weeks with a virtual platform most of the time, have determined I did better on my own.

By: Jonathan

Jonathan — Wed, 06 Aug 2008 02:08:14 +0000

Why in the world would anyone waste their money on Millenium-Traders trade rooms? I know, because they post FALSE performance records. They make a call then post the MAXIMUM points one COULD HAVE made if they followed the call. Thats like flipping a coin and saying LONG OR SHORT then saying well, if you would have taken my call you could have made X points before the next market turn. I have also seen a guest be verbally abused by JT because he was stopped out. Yet JT posted a win in their performance record. Total crock of @%*^. Do not be fooled by their performance records. They are 100% fantasy and do not reflect actual exits made by the traders. Some trades that ended up as losers based on ACTUAL exits are reported as wins. An extremely unethical business method on their part to attract newbie traders to pay their outrageous monthly fees. That is all.

By: Jakob Dupont Knudsen

Jakob Dupont Knudsen — Tue, 19 Feb 2008 09:00:10 +0000

Exactly. It is cheaper than the other signals, and the results looks good! I will give them a try when I get back home.
Well currently I am in Thailand, at Koh Samui. I am going back this sunday. I have been three weeks in India and three weeks here in Thailand. It sure has been an amazing trip. I will write some posts about it, when I am back home

By: admin

admin — Mon, 18 Feb 2008 10:35:59 +0000

Ya, Jakob, I have similar thoughts. The swing trades are pretty affordable if the results are really good. I have no much experience with stock trading so far however.
How’s it going in Asia, which countries do you visit?

By: Jakob Dupont Knudsen

Jakob Dupont Knudsen — Mon, 18 Feb 2008 10:18:58 +0000

I signed up for their free trial for one week, with the daytrading signals. Things were going fast, but it seems like they know what they are doing. However, if you look at their past performance, you can tell they are better at stock trading the forex trading. I have thought about signing up with the daily swing signals. However, I need a bit more capital before I jump in. And I have to get back from my trip in Asia. But I look forward to hear what you think about the stock signals. Let me know And good luck.

By: admin

admin — Mon, 18 Feb 2008 08:07:23 +0000

Thanks for your comment, Alan. Hopefully you’ll be able to recover MA losses. I am still considering FXCM, just need some more time to jump in

By: alan

alan — Mon, 18 Feb 2008 01:12:53 +0000

I hear yah Mr. Shark Investor. I’m pretty disillusioned with managed forex accounts, but I think I may be able to regain my initial excitement if this bad period of drawdowns comes to and end and I finally begin to see some pips.

Well, I wish you the best of luck with the stock trading signals but I don’t think the stock market is all that much better these days too.

Usually in times of economic troubles and turmoil (before you buy at the bottom) it’s best to be in precious metals or cash.

Take care.