In Focus: Millennium Traders

By Tony Clifton [Your Program In Focus]

If you expect to see a HYIP in focus after such a long delay, I am sorry to disappoint you. Millennium Traders is not a HYIP, neither a completely passive investment scheme.

Millennium Traders is a signal/picks service for Stock Day Trading, Futures & Commodities Day Trading, Forex Day Trading and Swing Trading. It is not one of the services which promise you fast and easy money. In fact they don't give any promises.

But checking their Performance Index page is quite promising by itself.

What Can You Get From Millennium Traders?

If you are an experienced trader or even a complete beginner, you can eventually improve your trading performance using the services.

There is a Stocks Day Trading Room if you would like to get signals and calls for raising and falling stocks.



Probably better results can be achieved at the Futures & Commodities Day Trading Room.

And I believe it's most likely that you would want to check the Forex Day Trading Room which as expected usually achieves the highest returns.

And finally, if you don't want to be too engaged staying and trading on the PC, you may be interested to subscribe to the Swing Trades.

In these "rooms" you will be getting alerts and signals by the experienced traders - the company moderators. They are experienced traders which will tell you what and when to buy and what and when to sell.

It's highly recommended that you use your own stop losses.

The Performance

Initially I found it hard to understand the performance because it is given in hard cash amounts and not as percentages or pips. We decided to go ahead and ask the Millennium Traders support about the forex performance. The answer we received is very important not only about the potential profits, but also to understand the specifics of this signal service:

"No trader should expect to duplicate our performance nor should any trader try to duplicate. Each trader should analyze their own risk appetite, targets, objectives and other considerations before making any trades whatsoever. No individual trader should try to base their own per trade targets and/or stops; as well as their daily targets and/or stops on what another trader uses.

There is no way to really calculate the performance to a percentage basis because different brokers offer different spreads, leverage, account types etc.

However the Forex performance could be calculated into pips easily, simply divide the $ performance by 50. So, for the example given, the profit would be 1,014 pips."

So it's important to know this is not a system for blind followers. It can greatly improve your performance - 1,014 pips for one month is not bad at all. But the exact results depend on you and you are not expected to follow each and every alert and advice.

This is not entirely passive investment, actions and thinking on your side are required.

The Fees

I really don't expect such service to be free. And it is not. The subscription fees for the day trading rooms are $249.90 monthly, but you'll get up to 50% discount for longer subscription periods.

The subscription for the Swing Trades is $79.90 monthly. There are also other two paid and few free services you may want to check.

I would not call the prices cheap by any means, but you have heard the saying - you get what you pay for.

Due Diligence

Some time ago I made the mistake to join and list on the site a service called FX-Universal without checking if their performance is for real. Aparently, they were faking their performance results to get in subscribers. Almost like a HYIP scam.

I didn't want to make more mistakes, so I searched hardly the Web to find someone complaining by Millennium Traders. Well, I did not find any scam complains.

Some members are unhappy because Millennium Traders do not provide stop losses. Except this you'll only find the standard sceptics who don't believe that trading for living is possible.

For a service which exists online since year 2000, this is a sure way to know that they don't provide fake performance tables. Additionally, there is a forum on the site where you can chat directly with members who use the trading rooms and ensure everything is for real.

Since there is a Free Trial you really have nothing to lose.

Is This Service For You?

If you have less than $1,000 for investing (add to that the subscription fees), if you are not interested into learning something new or if you just want only to invest in HYIPs, then not. It is not for you.

If you are willing to seriously approach you financial freedom and are ready to invest some real cash and efforts, then it is for you.

If you are hesitating, why don't you just try it for free?

Published at Aug, 03 '07 , Read 3539 times.

If you liked this article subscribe to the Free HYWD Newsletter

   

User comments:

frank at Jul, 19 '08 15:48
"For a service which exists online since year 2000, this is a sure way to know that they don't provide fake performance tables. " You couldn't be more wrong. Please do your research first. Their performance records are complete BS. They post a live call in the room, then post an exit for that call, also live in the room. Their performance record doesn't show their points at the live exit, rather the MAX POSSIBLE points after making their entry call, which is meaningless. Without showing their actual entry/exit, their performance record is meaninigless. For example, I witnessed a short trade called short, and a few minutes later the market rallied 60 points on YM. At that point they posted a live exit call, which was -60 points. However, their performance record shows +15 points, which was the maximum you COULD HAVE made. Again, their record is 100% false relative to the actual entry/exits the head trader makes.
Reply to this comment

Charley at Nov, 15 '08 12:44
Frank... you are a moron. I've been with millennium for about 6 months. I've been trading for 2 years. They are a great addition to my own trades. IF you were to read the site you would see that they DO NOT provide exits. Tony clearly explains that in this article. If you want someone to tell you exactly when to buy and exactly when to sell millennium is NOT for you. IF you are looking for good calls to add to your own startegy millennium IS for you.
Reply to this comment

frank at Nov, 15 '08 13:05
Charley, you are the moron paying for a room to tell you when to pull the trigger. Think about that one jackass. They are presenting false profits on their website and you are too stupid to realize that. I'm sure they are happy to sucker you and take your money, so I'll give them that much because you deserve it.
Reply to this comment

Charley at Nov, 18 '08 07:46
Listen if you don't like the calls thats fine. I personally do. No service is for everyone. Why exactly are there profits false? How else would track it? I don't want to waste my time sticking up for them because honestly it doesn't matter to me but you're being a real d^&k about it.
Reply to this comment

Charley at Nov, 18 '08 07:48
And just to clarify.... I'm a moron because I subscribe to a service that I make good money off of??? Who is the moron here for saying that one.
Reply to this comment

Tim at Apr, 18 '09 12:33
Charley, are you still with Millennium? How are your actual results? I just participated in day one of the free Trial and noticed the theoritical maximum profits are posted on the website. Instead of complaining about it like Frank, I pulled all the trades for January, 2009 to yesterday and the service is profitable if one assumes 100% of the losing trade pips are realized (the 30 pip stop) and 50-70% of the winning trade pips are realized depending on the size of the move (the shorter the move the less percentage of the move you will be able to lock in before it turns). Looking for you to confirm your actual experience. Best regards,
Reply to this comment

Robert McIntyre at Oct, 27 '09 14:06
But if you are not looking for when to buy and when to sell why subscribe? I concur with Frank, it's just a con, the performance is completely false. They entirely base their performance on hindsight.
Reply to this comment

Robert McIntyre at Oct, 27 '09 14:08
I'd track it by what their traders actually make. I've asked them to do this and they just said "we don't do it that way". Well I'm sure they don't because it doesn't draw people in.
Reply to this comment

ND at Mar, 12 '10 15:36
MT is bogus. I researched out their performance and they do indeed post grey numbers. For some traders who need signals, hell, send me the $250 a month and I could do better than MT. Anyone ever heard of news, support and resistance?
Reply to this comment

Ian at Mar, 13 '10 09:59
I subscribed to their trading room and within a few weeksthings didn't seem to add up, so I posted some live questions, which can be seen by all in the trading room. They were reasonable questions, but their replies showed they were in the spotlight and didn't know how to answer. After the third question they asked me to talk to them 'in private',away from sight of the other subscribers.They then immediately, during the trading session,told me they had blocked my service with immediate effect! That same day my subscription for the following month had gone through my bank. They refused to give me a refund as they said I hadn't given them the correct notice to cancel!! They are a bunch of crooks who don't like you asking questions. GIVE THEM A MISS AND SAVE LOSIG YOUR MONEY.
Reply to this comment

Now get syndicated content on all recently published or updated articles!

Or add to your favourite RSS readers: