ProfitsProphets SMS service

howi

Newbie
6 0
Does any one use the ProfitsProphets real time financial
market trading service by SMS or email

Is it good value for the £400-00 a month?
 

schoe

Well-known member
343 3
I have used it in the past they trade forex mainly. They are quite good its not always easy to get the trades at the prices they quote if the markets moving quick. They went through a period of losing a lot on the indices and sending out currency trades in the middle of the night but they only send them out during the day now and they moved away from the indexes. Some of their trades used to have quite a bit of drawdown but now they have stops at about 30 ticks. Try the two week trial for £50.00 if you can't follow the markets in the day they are not a bad option.
 

options

Senior member
2,374 218
Well, Schoe has said it and it's spot on.
Even real time alerts to your computer when you are sitting in front of the screen will prove hard to trade. eg. You get a buy sig. You act. Price goes up 10, then down 60 in 2 minutes. what u gonna do? Dump or hold? you have been 'advised' to buy; yet here it is doing the dying swan right before your very eyes.
But it's okay 'cause someone else called it wrong so you can blame them for the loss. How many times do you want to do this and pay them £400 pm for the privilege?

Because you speak of sms or text alerts I'm assuming that you do not want a 'managed' account. Normally this type of account would need a balance of £50,000. This way it looks as if you are getting value for money before the bailiff comes a knocking.

The 2 week trial for £50 is £50 too much. Trials should be free with no credit card numbers taken.

Unless they have a 97% correct call rate.

In all truth I think that all these sites actually believe that they are calling everything right. Trying to trade on their calls is a different story. If they were trading the system themselves, and getting the rate they claim. They would not want/need to sell the calls.

They want to help out their fellow traders?

Well, if all their clients acted on their advice, it may well have enough weight to move the market. Thing is the big boys would also know this and play the market against you to devastating effect every single time.

Much better than to take that £400 pm and trade your own rules.
That's £100 per week invaluable trading experience to you. and you are paying for it sooner, rather than later.

You would be much better off forming your own opinion.
 

FloorTrader

Junior member
26 0
this was discussed on fillyaboots

about a year and a bit ago - they made a couple of easy calls (market was strongly trending) then some major boo-boos, as I recall. The poor sucker who was paying used to post up their cringing replies to his increasingly desperate cries for help, with excuses that started out as 'its never done THAT before?' to 'unusual market conditions mean YOU aren't doing it right' - even though their signals were losing him tons of cash. It was very sad, as I recall, and they stopped even trying to fight the thread - after a while, I guess they have resurfaced! Caveat emptor, as they say. Havanice one!
 
 
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