Choosing a top trading signal provider to review is a though job. There are thousands of signal services out there with 90% of them claiming to achieve exceptionally good results. If all they were real, everyone could become rich in a couple of years by investing few hundred dollars. Unfortunately that is not the case.
Most trading signal services are scams and fake their results.
Because of that, the research of a good signal service includes a lot more than comparing price/results. The most important thing to do is to ensure that they really achieve the advertised results.
So, why Millennium Traders?
I am too far from that I have found the top of the best. Millennium Traders surely have their disadvantages, but here are the reasons why I have chosen them for the first review in SharkInvestor:
- I was able to personally verify that their trading is successful. (You can do it too)
- They show the performance of each individual moderator and they show dollar – value, clearly saying that your percentage results will depend on your own trading choices
- They offer several types of trading signals
- There are big discounts if you join quarterly, semi-annually or annually
- There is a free trial
- The performance is rather good, but still reasonable. Please check their performance page/li>
- They have excellent responsive support
Millennium Traders definitely are not the cheapest signal service I’ve seen, but you get what you pay for. So let’s see what exactly they have to offer.
The Trading Rooms
Most of the Millennium Traders’ signals are organized in the form of chat rooms where the moderators send buy, sell or watch signals to the members. There is a sound coming with the signals, so you don’t really need to watch the screen all the time.
The Stock Trading Room has currently 3 moderators and provides day trading signals mostly between 8:00 AM and 4:00 PM US ET. The membership costs $249 monthly and $1500 yearly. There is an option to get a free month if you invests in a featured broker.
The Futures Trading Room provides live real time future calls at the same time – between 8:00 AM and 4:00 PM US ET. Just like the stock trading room, it is priced between $249 and $1500 depending on the subscription term.
The Forex Trading Room is open 24/7, but mostly active between 8:00 AM and 4:00 PM US ET. The prices are the same as the stock and futures trading rooms and the performance is amazing. There is a great deal if you decide to open an account with some of their featured brokers – you can get the signals completely free.
Day Swing Trades is another chat room providing up to five stock picks every day. The picks are posted before 8:00 AM EST. The prices are the same as for the above rooms.
The Weekly Swing Trades sends stocks picks only once per week, on Monday before 8:00 AM EST. This service has the lowest prices – $79.90 monthly, $203 quarterly and $480 annually.
Millennium Traders offer also one-to-one trading education for $750 but reviewing it is not a subject of this article.
How To Get The Most Of It?
Many people subscribe to trading signals in the wrong way and then are happy if hey can break even. I’d like to give you some tips which will help you achieve greater return on your investment:
- Subscribe for a trial first. See if the thing works for you and if you can be online at the time when the signals come
- Subscribe for only one service at the beginning. It’s tempting to go for the triple or double subscriptions because of the better price. But do that only after you are comfortable with the overall service and you have some experience.
- Subscribe for one month or a quarter first. After you pass the trial, try the real stuff for a month or three. This time will be enough for you to decide if you want to go further and purchase annually subscriptions (or some of the combined subscriptions).
- Make sure that you actually trade. Sounds simple, but many don’t do it. If you only watch the signals and don’t perform trades, you won’t earn any money. Do trade.
I wish you success with Millennium Traders. Please post a comment here once you start trading for real with them.
I have been on their site for 2 months now – here is a review.
First, you need to clarify WHICH trading room you are in!!!
The most accurate room in terms of reported profits is the daily swing trade room – there is ZERO number fudging here – they post all entries AND EXITS on these trades. So that $760,000 number (as of Nov 2008) is a REAL number.
However, for the Daily STOCK TRADE room – You need to BE VERY VERY VERY VERY careful in that room. I’ve been in there for a month, know this:
– They do claim victory on all up ticks regardless of if the stock retraces 100% to zero the other way. That’s a little messed up, but you should be using a stop anyway
– They actually really make like 90% of their profits on 2-3 stocks ONLY and on 1-2 RIDICULOUSLY huge moves per day on that stock. You’ll see SKF, SDS, SRS traded – they’ll stab at them 5-6 times missing 4-5 times on stops to hit one 20 point run on the stock, then claim credit on all 20 points.
– So the $1M dollar number they post for the daily stock room is pretty bad and they should be ashamed of it, but they are not.
My best suggestion if you want to play the day trade stock room is use tight $1 stop losses on most trades, except on the big mover symbols use a $2 – $2.50 stop. For upside, if $1 stop, use a $2.25 minimum upside target for $2 stop, use minimum $5 upside target.
Follow their exits as best you can, they do tell you when they are in and out, and fasten seatbelt looking for the big runs. It will NOT be a slow steady climb, it will be violent 5-6 stops, one big rip, 3-4 stops, 2 big rips, etc.
Go into the room prepared to immediatly sufferr 5-10 stops and then make it back. Some days it will be all rosey and you will go right up, but most days it will be bumpy.