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This is a discussion on profitsprophets.com within the Trading Systems forums, part of the Methods category; Has anyone come across this site, and is anyone using it? ta hogs...

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Old Sep 16, 2002, 9:19pm   #1
Joined Aug 2002
www.profitsprophets.com

Has anyone come across this site, and is anyone using it?
ta
hogs
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Old Sep 17, 2002, 10:55pm   #2
BF1
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Yes, I read the brochure and looked at the web site. My concern was the lack of an address and tel number, no such mention in either the brochure or on the web site. I emailed them and received the reply below.

Im still unsure as A) Ive never previously heard of them and B) They only offer the alert by email or text - why not both? What happens if your mobile is in a non signal area when the alert is sent? You may not get the alert until hours later, similarly, if you can`t access email you end up with the same result. If they sent the alert by both methods at least you would have a better chance of getting the alert.

Here`s the reply I got from them:

Dear Sir

Thank you for your e-mail. We are pleased to provide you with the further information you request.

Our address is 11 - 12 Hope Street, Douglas, Isle of Man IM1 1AQ British Isles. However we recommend that correspondence be by e-mail.

We are a small highly focused team. In addition to the directors, we have a specialist Index analyst, a specialist Currency analyst, and back-up staff, plus external sources.

As you will understand, the nature of our business requires dedication, long hours of focused concentration, and immediate notification to our clients upon recommendation decisions being made, to be successful. Many others would like to understand our research and to know the analysis tools we use. Furthermore, we contact our clients immediately with our recommendations, so any interruption or delay costs our clients money.

The nature of our business, and its record of success, invites enquiries from numerous sources, for example potential clients, time-wasting free-loaders, would-be competitors, would-be competitors pretending to be clients, journalists from 'tipping' publications, etc. We therefore made a conscious decision to restrict communications to e-mail, solely to prevent otherwise constant - and costly for our clients - disruptions from numerous parties contacting us frequently by telephone and / or calling at our address.

We restrict the use of our telephone lines to our sources of instant price-sensitive news and information. We are sure that you will understand this decision is in the best interests of our clients.

We will be pleased to answer any enquiries that you may have by e-mail.

All of our clients are able to cancel their monthly standing order for our service at any time by simply notifying their bank to cease payments.

The 'Latest Recommendation' page on our website: - www.profitsprophets.com - was updated on Friday 6th September. As you will see, our record of success continues with approximately one thousand points profit during the past few days.

Naturally, it is right and proper for us to advise you that past success is no guarantee of future performance. However, if we fail to make profits for our clients, we will soon lose them. We have no intention of losing our clients!

We trust that you will soon join our satisfied clients. We are confident that you will enjoy a profitable business relationship with Profits Prophets.

Yours sincerely

The Help Desk
Profits Prophets
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Old Sep 17, 2002, 11:19pm   #3
 
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Scam?

Interesting address. Out of reach of any investigating body?

try a companies house search?

Is the address really a simple post box?

Try the Mail on Sunday financial page editors - they love to investigate such "Too good to be true" entities.

Anyway...take care.
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Old Sep 18, 2002, 7:43am   #4
BF1
Joined Aug 2002
Scam? I don`t know. They state that the standing order mandate can be cancelled at anytime, well I know that, but lets face it, you would have parted with 400 at least, by the time you decided whether to cancel or not.

It would be nice to to get some history on the company, verified by a genuine source. Maybe I`ll drop a line to Shares magazine to see if they know of them. I did get the brochure/flyer out of the Shares mag.

I`ll post on any updates.
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Old Sep 18, 2002, 9:58am   #5
 
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IOM nice offshore tax haven for anyone anywhere in the world.
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The views expressed here are my personal views and for your information only. Any expression of likely movement of a share is merely guesswork and is to be treated as such.This information must NOT be used as a basis for making any investment decision.
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Old Sep 18, 2002, 4:34pm   #6
Joined Oct 2001
There's a post today over on www.fillyaboots.com's Spreadbetting BB (not a patch on T2W, but occasionally some useful stuff ) from someone who has sent their cheque off for 400 just over a week ago and is waiting for the first tip. Be worth keeping an eye out for updates on that one...

H.
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Old Jan 26, 2003, 7:08pm   #7
 
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Any other PP members out there ?

Dave
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Old Feb 6, 2003, 1:45pm   #8
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i was wondering if there scamming i have emailed them a couple of times.

i have tried to get proof of there 1000 point profit but they havent shown me any as yet
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Old Feb 6, 2003, 6:57pm   #9
Joined Jan 2003
Call me cynical, but I cannot imagine you just pay over a few hundred pounds, stick 10 a point on the things they tell you, and lo and behold (according to their site) you make 850 per week. If only it was that easy, I would stop wasting my time all day staring at Level2 screens, pay a few of these folk their several hundred pounds, and rake in thousands a week with no knowledge or skill. If it was that good the queue would be a mile long to subscribe, and it would have been reported in every publication as the easiest most profitable opportunity of the year.
The fact that everybody is scraping about trying to find if anybody has heard of them tells the story ! (IMHO)
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Old Feb 7, 2003, 12:39am   #10
BF1
Joined Aug 2002
Catsdad,

Valid comments and not a million miles from my line of thought, but as with everything, you sometimes wonder whether there is an easier way of making money through somebody elses work and ability!

One guy who responded to my post on ADVFN confirmed making money but said that most of the alerts were for forex and received in the early hours, plus, large sums of money were required up front to trade forex.

Thanks for your response.
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Old Feb 7, 2003, 8:38am   #11
 
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Why do their recommendations only cover 30/8- 4/10? Is this their best? If you take the average range on Indices ie. Dax, Ftse, Dow, 17 points a day is nothing special when you consider it's easier to tell someone else what to do than use your own money.
Not impressed.
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Old Feb 9, 2003, 2:43pm   #12
BF1
Joined Aug 2002
Oatman,

Where did you see these figures? Their website shows the overall picture from November - January. I have been sent the laat week of Jan 03 recommendations and February 03. If you or anyone would like these then let me know your email address and I`ll forward them on.

One guy on the ADVFN BB (Premium) did use them and made money, but said that a lot of the alerts were for Forex and came in between midnight and 3am!

What system do you and any others following this thread use?
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Old Feb 10, 2003, 11:15am   #13
 
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Hello BF 1,
Yes, I probably misread. I can't find the site now. My point was that it's easy to tell someone else what to do in a market. See how they get on with their own money. Your analysis is at least as good as theirs. Believe in yourself. Where are all the "experts" we saw on TV every morning saying don't panic as the market collapsed? Counting their money made from telling everyone to keep buying!
Anyway, I don't believe systems exist.
There are plenty of people out there still looking for the "big" one.
They rarely find it. You're better off chipping away at it. Keep close stops. You'll rarely take a big loss but the profits soon add up.
What I can tell you though is that P+F is a very good method.
I use 2.5x3 and 3x3hilo on 1min. Real Time Ftse Futures. Generates good entry points. Once you're "in" you've got to use your own abilities based on your capital and risk tolerance. You can do a"count" on P+F to generate targets as well. It'll work on any market, you'll just have to play around with box sizes and reversals to try and avoid whips.Too sensitive,too many signals.
Good luck,
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Old Feb 10, 2003, 11:52am   #14
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Agree with oatman as far as the private investor is concerned - hardline systems are only available to institutions, for example arbitrage across exchanges or cash against futures arb. That said, you can set certain criteria with which to trade against - when these are met, you enter, then closing when other criteria are fulfilled. Rather than focusing on specific levels, you look for certain conditions to exist, so while loosely based on a system, it is more flexible and I think suited to the private/home based trader.
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Old Feb 10, 2003, 7:45pm   #15
 
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i'm a member of pp and have been for a few months. they arent a scam as far as i can see and I'm doing nicely from them at present.

they did go through a stage of sending things out late at night but that seems to have stopped (and i can get some sleep). made seventy points today.

dave
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