If you have read the Forex Signals Tutorial and my first impressions about Millennium Traders, you have figured out that I really liked them. I still think that moderator guy JT knows his stuff, although the end of January and beginning of February has been quite poor for my trading with them. There were mostly signals which were hitting the stop loss and the few good ones didn’t make anything more than 10 – 20 pips.
The thing which worried me most and made my decision to stop using them was the stats on their home page. Even in the bads week the forex trading room the stats keep showing positive results.
Don’t get me wrong, I am not saying they fake their results. I believe they are not. There problem is these results are hypothetical based on no-one-can-tell-you-what-exactly. I would expect the results to be based on the positions which the moderators open and close and that’s probably the case. The problem is that when being in the room you get only their open alert. Then the standard 3 targets come and “Consider selling” (if the trade is a success), but you never know when the mod really closes his trade.
I know not to expect exact duplicating of the moderator’s results, but I would like a way to be as close as possible to them. Millennium Traders is not letting this happen. Therefore I am quitting.
Regardless of what I just wrote, I still think Millennium Traders offers one of the most professional services in the signals business. I plan to give them a second try pretty soon. But being a bit disillusioned by forex (because of the most managed accounts failures recently), I think I’ll try some of their stock trading rooms.