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:
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.
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.
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...
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)
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.
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.
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?
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.
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.
Can you tell me how convienient you have found to trade the PP suggestions. For example, I understand that to trade on Forex, a substantial amount of cash is required up front. Have the alerts sent by PP been mostly on the indices or currencies?
Between what times do the alerts come through, generally speaking?
I tend to agree with your minimise your losses and accumulate your profits attitude. Of course, there is no system that works faultlessly, otherwise we`d all be rich. However, I just wondered with something like PP whether somebody elses constant monitoring of the markets could benefit others.
As a matter of interest, what software and data feed do you use in your trading?
PP tends to act in the morning and mid to late afternoon our time. I'm with Deal4Free and you need margin of GBP200 for GBP1 per point for FX. As far as I am aware this is less than in required for indexes (think the Dow is GBP350 for GBP1). Tend to be 60/40 currencies / indexes split and they have been doing more indexes recently (mostly indexes last week).
Hi BF 1,
My feed is Tenfore Satellite(http://www.tenfore.co.uk), also has a chart package, and I use Indexia software,no longer supported, since the developer moved to Updata to produce Technical Analyst,which is supposed to be enhanced Indexia on a Windows platform, but it's still bug ridden at the moment. I trade online through Sucden using Pats Systems J-Trader. I use 2 machines to keep feed/analysis and trading platform apart.
Yes, P+F is point and figure.
Hope this helps