Millennium commodity system. Tradersavenue.com. Anyone heard of it?

[muska10]

Hi guys,

I trade a group of commodities in a system called Millennium. Site is tradersavenue.com. I heard about it on the Tom O'Brien show on TFNN.com.

Fox Online (division of Man Financial) run the system on my behalf so I don't have to stare at the screen all day.

Has anyone else had any experience of the system or know anything about it?

I am experiencing a nasty drawdown and if it wasn't for the fact that I avoided some signals, I would have been blown out of the water by now.

George

24 - far too young for this business.

 

[TWI]

My advice would be to consider this a lesson. There is no easy money.
I do stare at a screen all day and I would never give money to such a scheme, it is not only the system you sould be worrying about, although that sounds like it is a total disaster in itself, but also the execution...What is this about missing signals? do you have to confirm each signal? Any successful system requires precise execution. Execution of orders is a skill in itself, systems do not survive, even very successful ones unless the execution is good.

 

[muska10]

My advice would be to consider this a lesson. There is no easy money.
I do stare at a screen all day and I would never give money to such a scheme, it is not only the system you sould be worrying about, although that sounds like it is a total disaster in itself, but also the execution...What is this about missing signals? do you have to confirm each signal? Any successful system requires precise execution. Execution of orders is a skill in itself, systems do not survive, even very successful ones unless the execution is good.

You highlight some very important points but with respect, you do not have to tell me what I already know, specifically execution of orders.

Regarding missing signals, if the system gives a signal to short Live Cattle at the open and one knows that the signal could lose you money, it would make sense to pass up the trade. The rule of thumb, however is to take every trade that the system generates, the premise being that there is little point having a system if you do not follow it to the letter.

If anyone can answer my initial question "Millennium commodity system. Tradersavenue.com. Anyone heard of it?", I would like to hear from you.

For you Sir, I would suggest that you visit the web page I supplied and contact the broker I described before you make any more comments. If your knowledge is such that you are unable to make informed comments, I would request that you think carefully about responding again to this thread.

 

[TWI]

I suggest you have a serious problem or a vested interest.

 

[muska10]

I suggest you have a serious problem or a vested interest.

You are correct twalker. My problem is that I have a vested interest.

That is why I started this thread to see whether anyone else has had any experience of this system and whether their experiences may help me.

The fact that you obviously know nothing about the system, nor have you bothered to research it before posting a reply is absolutely no help to me or anyone else reading this post.

Do some homeowrk before you consider posting any further replies.

For all other members, I am interested to hear your experiences with this system or trading systems in general.

 

[TWI]

I think this sort of emotional response does not bode well for your future in the markets.
I am sorry to hear you lost your ****, but most of us have, at some time or another, it is the entrance fee.
I did have a good look at the site actually, it is not worth commenting on, same old b/s different website.
Now please stick your dummy back in.

 

[dav10]

cant see them on this list http://www.institutionalinvestor.co...e/Areahedge.pdf

 

[dav10]

sorry the link does not work dont know why ?? ( would like to know there fees @ % could not find it on there site ,if there software works.good luck to you ,sounds like snake oil to me

 

[muska10]

I think this sort of emotional response does not bode well for your future in the markets.
I am sorry to hear you lost your ****, but most of us have, at some time or another, it is the entrance fee.
I did have a good look at the site actually, it is not worth commenting on, same old b/s different website.
Now please stick your dummy back in.

twalker. I have been in this business for over 7 years. I would not be human if I did not not experience some emotional response at one time or another, no matter how mechanical I try to be.

I wanted to adopt this system to take a more systematic approach to wealth building based upon a system with a track record. I did not take this decision lightly. I contacted over a dozen customers who have used the system for over 5 years, all with varying initial account sizes.

They explained the various caveats and they also highlighted the rewards. I have learned a lot about the system's strengths and weaknesses. I have also learnt about my own strenghths and weaknesses.

I haven't lost my shirt just yet, but if it wasn't for the fact that I ignored ceratin trades, I would have come very close.

I am sure you will agree, this business is a very solitary activity, but ironically we are all in this together. This site is a community and should be used as a forum for mutual support and discussion.

It is important that we all help each other out. None of us like to be told that we have made a mistake, especially from a stranger. I acknowledge that in retrospect, my decision was ill timed, but I did not have a crystal ball at my disposal.

I apologise if you have found my previous replies offensive. I do not wish to make any enemies here. However, put yourself in my position - 50% equity drawdown on a trading group that has suffered maximum historical drawdowns of 35%. It can make you feel quite frustrated as well as confused.

On a more positive note, I would say that this is as good a time as any to adopt the group that I am trading. Perhaps some good come of my situation if you or anyone else were able to benefit from my misfortune.

Good trading. George.

 

[neil]

Musk,
Stay away from vendors and their systems. They sell them to make themselves richer.
Find your own trading style and stick with it. it's hard work but the sooner you stop looking for systems the better you may become.

 

[TWI]

Sorry George, thanks for your post.

I do note that recently Hedge Funds have on the whole had a pretty grim time and this during a period where there have been no dramatic moves so your drawdown is not at a time when others are making lots of money.
One point that I am sure about and you will know too is the need to take a disciplined stop. My advice would be to set a level where you are going to bail out of whatever it is you are in and when your equity gets to that point, if it hasn't already, pull the plug and move on.

That is really the only good advice I can offer.

 

[muska10]

sorry the link does not work dont know why ?? ( would like to know there fees @ % could not find it on there site ,if there software works.good luck to you ,sounds like snake oil to me

The domain for this link looks odd. Is it a .com or .co.uk? If you can post a revised link, I would appreciate it.

I paid for a two year licence of the software which cost $10,000. September 29th is the first year anniversary since I started. I will review its performance at that time and then make a decision whether to stay with it or leave it alone.

It sounded like snake oil to me too and until I start to see a recovery, I am inclined to maintain that view.

What has truly hurt performance has been the commissions and the fact that trades are only exited by stops. This means that when money is on the table, more often than not, the system doesn't take it. That is why I have had to micro manage the signals and lock in profits whilst I have had the opportunity.

The equity curve for my group of commodities will be attched to the next thread.

As we all know, the longer something goes sideways/ down, the bigger the move will be when it happens.

 

[muska10]

Sorry George, thanks for your post.

I do note that recently Hedge Funds have on the whole had a pretty grim time and this during a period where there have been no dramatic moves so your drawdown is not at a time when others are making lots of money.
One point that I am sure about and you will know too is the need to take a disciplined stop. My advice would be to set a level where you are going to bail out of whatever it is you are in and when your equity gets to that point, if it hasn't already, pull the plug and move on.

That is really the only good advice I can offer.

I agree with you there. That is my intention. I am going to give it until the end of September which is the first anniversary. Then I will make a decision.

Attached is the equity curve for my my study group. As you can see this has been the longest drawdown in the history of the group. I hope you can view it satisfactorily.

What I will say however, is that we both know that the longer something trades sideways to down, the bigger the move will be when it decides to really go.

Just to let you know, I trade the following contracts in this group.
1 Euro FX
1 Jap Jen
1 Dollar Index
1 TBond
1 Cotton
1 Natural gas
2 Wheat
2 Live Cattle
2 Feeder Cattle
3 Sugar

George

 

[dav10]

www.superfund.com

 

[dav10]

no snake oil there