Millenium Traders Forex trading room reviewMillenium Traders offer trading room services for Forex, Swing trading for stocks and Futures. I tried the Forex trading room so the review will concern only the forex trading room. I was strongly attracted with their extradordinary performances posted on their website. They claim a success rate above 80% with little drawdown, so I decided to give it a shot. If we can make an average of about 1200 net pip points per month and an average of about 4 trades per day it would be wonderfull. The suggested trades are done between 8AM and 2PM eastern time. The trading room is not great. There is no real format. On the left side they display the entry point of the current trade if any and the stop associated with it. In the center you see a bunch of messages coming from subscribers of the trading room as well as from the moderator. Also you hear a lot of different sounds and it takes time to figure out which sounds are important. When a potential trade might take place you receive a WATCHING FOR LONG or SHORT message mentionning the pair. This is not the time to enter the trade but just to get ready. When the trade is suggested to enter then you receive the CONSIDER LONG or SHORT message. This is the time to enter the trade. So I entered the trade at market as fast as I can in a demo account with FXDD. Short time later you can see appearing on the left side of the trading room window the exact entry they had as well as the stop. I was able over several trades to get just about the same price as theirs and sometimes even a bit better. So for this part to initiate the trade it is OK. However to exit the trade is another story. They say very clearly on their website not to try to duplicate their results and I always wondered why until I tried their trading room. Once the trade is in you get several different messages like UPTICK or DOWNTICK WINNING ALERT which meeans the trade is in winning terriroty. You can receive this message several times. You can also receive the message CONSIDER TAKING SOME PROFITS or CONSIDER SELLING. The problem here is that it is totally unclear when to exit the trade and they actually say it on their website. They say it is up to you to decide when to exit the trades. I don't know about you but if I pay 250$ per month for a service I would expect clear entry and exit signals. If you would try for example the Forex Nitty Gritty simple trading method it is all clear and leaves nothing to second guessing. I tried to clarify that with them with a few emails. Either they did not respond or they were very arrogant saying they don't give exits points. I suggested them to offer an autotrade service so we can verify their performance and they never answered to that. After a month I ended losing a little and I was very far from their performance shown on their website. In fact I noticed something interesting in their performance reported on their website. Each time you see a profit of 20 pips or less most of the time it is a loss. They report the best progression of the trade as a profit which could correspond to their first UPTICK or DOWNTICK WINNER ALERT. But there was no clear exit signal on that. So it makes a big difference on the final results if you lose 30 pips instead of winning 20. I noticed the same observation on different forums on the net. Another important thing to mention. They renew automaticly the subscription without notice. It is mentionned on their website in small caracters and I did not see it in the agreement when I ordered. So It is very hard to recommend a service like that but for those who would like to see by themselves click here to know more about millenium traders. Have An opinion About This Topic?
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