The reason to publish this review about Millennium Traders in October was because I signed up for their trial and was nicely impressed. At that time there were many reasons I was not able to continue after the trial. But, as you know, trial with demo account is one thing, paid signals with real account is completely different one.
Since there is affiliate link in both articles I decided I should take the responsibility to test better their service and put my money where my mouth is.
So I went ahead and subscribed for their real signal service at the end of November.
I have tried only the Forex signal chat room as at this point I have no interest and free cash to trade the stocks. So here we go.
First Impressions of Millennium Traders
There are two moderators there in at this time – JT and Barry. Because of my time zone and availability I am able to catch only JT’s signals. So far:
- There were more good signals than bad ones
- There were few exceptionally good trades
- There were few that hit stop loss
- His trading style is a bit aggressive, but he often suggests you to close position before he closes himself. You have the choice to follow him or to follow his suggestions
- He trades mostly GBP/USD, USD/CAD, USD/JPY and EUR/USD
- He trades only when he see a good opportunity. So some sessions there might be no signals at all
In general my impressions so far are quite positive. I have made about 3% profit for these 2 weeks.
There is one very important thing with trading chatrooms like this:
Do not expect to duplicate the trader’s results exactly! When you see the figures on Millennium Traders you may expect to achieve the same sweet profits. Most likely it won’t be exactly like that – there are several reasons for that:
- Depending on your timezone you won’t be able to catch all signals
- Except you never stand up from the PC you’ll miss some actions
- Sometimes you’ll be scary and close position earlier than the moderators
In general I think this signal service is good and honest. You just need to have realistic expectations, to have some basic understanding how forex works and to be able to spend some time on the PC (it’s ideal if your work is on PC anyway).
I’ll keep posting further updates on Millennium Traders, but you cal also join and see yourself. There is a free trial so you don’t have to risk money upfront.