No registration required! (Why?)

One of the slickest, trading advisory sites on the Web with awesome performance numbers for a monthly fee based service. For example, the futures trading moderator, Hurricane, posted a very healthy average monthly profit over $45K since inception (May 2006), calling trades in the eminis (mostly ES and ER), with ONE contract per trade. Yes, boys and girls, ONE contract per trade. Read that gain and rub your eyes.

Unfortunately, the devil is in the details and therein lies (no pun intented) the problem. The fine print (of which there is no shortage and obviously written by a Philadelphia lawyer) states that "Performance is calculated for each 'Futures & Commodities Day Trading Room' Moderator based on 1 Contract per call from 'First Winner Alert' to 'Last Winner Alert' for each call given in the 'Futures & Commodities Day Trading Room'."

In other words, the Performance is based on the first uptick to the last uptick of any single trade, BEFORE the trade gets stopped out. Millennnium is using a 3 point stop from the intitial buy or sell entry. Do you know of any futures day traders who use a 3 point stop from ENTRY throughout the entire trade? I don't. Most traders will raise their stops as they lock in profits, but not Millennium.

The Performance is a sham that a monkey could produce. Under this measurement system, a trade is considered from entry to peak with no consideration to price action in between even if the 3 point stop is eventually hit. Under this scenario, the worst the moderator can do is lose 3 points if his trade tanks immediately after entry, and the best is the get credit from the entry to the top tick. He could easily have a losing trade in reality, but a big winner in terms of Millennium's Performance as they define it.

As I said, a monkey could produce this Performance, but don't try this at home with real money.

millenium sucks big time. i looked at their performance figures for 2008, shows over $300000 on a one lot trading the minis. Whew, i am totally impressed!!!! No really, shut this fraud down, soon. And remember they charge 250 per month for each service.
What a great scam.
I had a better experience with Millenium. I was in the futures trading room with JT and I found his calls to be clear (which I've found to be a big problem for most of these rooms) and generally on the money. I thought he was a very good trader. He trades strictly price momentum and primarily on the YM, although he'd also take trades on ES, TF, gold and oil.

The performance report is BS. They count any trade as a winner after, I think, 3 ticks and then they count the high of the move as the exit, as if you magically exited and the maximum profit. I didn't get too hung up on the performance report. It was skewed and unrealistic and everybody knew it.

JT said he took live trades along with the room and had a day stop and a profit stop at $750. He usually hit his profit stop. He recommended scaling out of a 3 position trade at $50, $70, and then a runner. So, his risk was $450 and the profit was $120+ - not ideal but it seemed to work for him.
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