Fat Prophets

Does anyone have any knowledge of Fat Prophets. I seem to have concerns about them but on the other hand they are on the homepage of T D waterhouse.

Has that got to do with thinkorswim?

ecosse said:

Does anyone have any knowledge of Fat Prophets. I seem to have concerns about them but on the other hand they are on the homepage of T D waterhouse.

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I've been with FP for about 9 months now. I would be interested to know what are your main concerns. As for me I think they are o.k. but you have to be selective with their recs. Also, only now, am I learning that their daily feedback reports need to be translated. For instance, if they report that such and such a price move "was NOT IDEAL but (stick with it).." Don't do any such thing. What they mean to say is that they called it wrong but can't bring themselves to cancel the trade. That's what you've got to do though - pull the plug a.s.a.p.- if you want to avoid the inevitable stop out that they are prepared to sit through. Could say more but enough for here.

springz said:

I've been with FP for about 9 months now. I would be interested to know what are your main concerns. As for me I think they are o.k. but you have to be selective with their recs. Also, only now, am I learning that their daily feedback reports need to be translated. For instance, if they report that such and such a price move "was NOT IDEAL but (stick with it).." Don't do any such thing. What they mean to say is that they called it wrong but can't bring themselves to cancel the trade. That's what you've got to do though - pull the plug a.s.a.p.- if you want to avoid the inevitable stop out that they are prepared to sit through. Could say more but enough for here.

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Hi Springz, its Mark here.
How do you feel are FP performance? on their website theres not a big deal of info, no win-loss ratio, draw downs, winners/losers average bars, recent weekly/monthly returns... Did you make good money following their advice? How many signals could they send per week?
Best regards,
Mark

M.PEERMAMODE said:

Hi Springz, its Mark here.
How do you feel are FP performance? on their website theres not a big deal of info, no win-loss ratio, draw downs, winners/losers average bars, recent weekly/monthly returns... Did you make good money following their advice? How many signals could they send per week?
Best regards,
Mark

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Mark,

What a difference a couple of months makes ! I have extreme doubts now about FP.

Their stats are fully recorded on site - for members. What I can tell you is that 10 out of their last 13 recs. have produced losses - some pretty spectacular.

In short, I've not made any profit (prophet) at all - au contraire ! As a result I am only watching their latest batch of suggestions....and they mostly seem to be going down as well...but not with my money.

In case you are interestyed I have also been trying out Hoodless Brennan Advisory CFDs these past couple of months. They started out well but then went into a tailspin too.

Regards,

Springz

Hi all.

Am thinking of buying into FP for spread betting, any thought anyone.
Springz, has anything changed since sept (for better or worse)?

Cheers.
Av.

Hi avtarsaini, Some time ago they called me and said how good they are. I checked their website (Fat Prophets - UK) and performance up to 31 Aug 2009. Personally I was not impressed and decided not to go for it.

This was my response to similar question few months ago. In meantime I haven't checked their results. Anyway if they asked me to join again first thing I would ask them for the results up to date before paying for that service. I must admit I'm sceptical about it.

avtarsaini said:

Hi all.

Am thinking of buying into FP for spread betting, any thought anyone.
Springz, has anything changed since sept (for better or worse)?

Cheers.
Av.

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Avtarsaini (& anyone else thinkiking of joining FP)

As I said in my last post, having had my fingers burned , I am now only following the progress of FP's recs. out of interest. As far as I can see they are going from bad to worse.

Reading between the lines, they are concerned, themselves, about their many failures these past months. Virtually every trade rec. now is suggesting HALF the capital risk they used to suggest.

It would take too long to say all I could. So here are their last 20 results. As you will see 14 out of 20 have gone down:-

(The first date is when trade entered, the second when exited: the last figure on each line is profit/loss either in GBP or AUD):-

580 Short Equity ALL AUD 09 Dec 3.71 16 Dec 4.00 0.29 43.92 -1696.05
577 Long Equity DLAR GBP 04 Dec 995 09 Dec 960 35 13.63 -257.58
578 Short Bond TYH0 USD 04 Dec 117.71 08 Dec 118.56 0.85 20 -506.25
562 Short Equity BARC GBP 11 Nov 330 04 Dec 306 0.24 10 156.80
569 Long Equity TLW GBP 03 Dec 1300 04 Dec 1260 -40 17.82 -296.22
563 Long Equity JKX GBP 17 Nov 305 30 Nov 260 45 10 -427.15
561 Long Equity CEY AUD 17 Nov 3.55 27 Nov 3.24 -0.31 20 -1804
565 Long Commodity NGF0 USD 18 Nov 4.86 19 Nov 4.62 -0.24 20 -480
559 Long Commodity SpotGold USD 03 Nov 1072.5 09 Nov 1109 36.50 0 547.50
557 Short Equity HFD GBP 29 Oct 390 05 Nov 416 -26 13.20 -439.08
558 Long Equity FGL AUD 03 Nov 5.52 04 Nov 5.39 -0.13 137.74 -1,780.55
546 Long Equity NCM AUD 07 Oct 35.37 29 Oct 33.00 -2.37 53.60 -1,963.82
541 Long Equity AXA AUD 30 Sep 4.31 27 Oct 4.44 0.13 30.83 841.84
551 Long Equity MCR AUD 13 Oct 2.50 27 Oct 2.32 -0.18 17.90 -1,425.89
552 Long Equity CEY AUD 14 Oct 3.40 27 Oct 3.16 -0.24 44.29 -1,664.53
554 Long Equity PAN AUD 22 Oct 2.61 27 Oct 2.61 0 49.37 -49.37
548 Long Equity CNT AUD 09 Oct 1.97 26 Oct 2.35 0.38 20.02 1,600.30
545 Long Equity KCN AUD 07 Oct 8.47 23 Oct 7.90 -0.57 52.81 -1,846.80
547 Long Equity CEY GBP 07 Oct 105.25 23 Oct 125 19.75 10 585.46
549 Long Commodity CLZ9 USD 12 Oct 78.98 21 Oct 81.80 7.65 40 503.15

At least they maintain a record - unlike some - but it's not good !
Hope this helps you decide.

Bedsit - thanks, thats realy helpful.

Springz - thats a lot of typing, very much appreciated.

The results speak for themselves I guess. Pity , it would have been good to follow a system where someone else does all the hard work and simply gives you the entry/exit points. Guess I'm asking for too much. Back to reading Malcolm Pryors books again.
Thanks again and seasonal greetings to all.
Av.

avtarsaini said:

Bedsit - thanks, thats realy helpful.

Springz - thats a lot of typing, very much appreciated.

The results speak for themselves I guess. Pity , it would have been good to follow a system where someone else does all the hard work and simply gives you the entry/exit points. Guess I'm asking for too much. Back to reading Malcolm Pryors books again.
Thanks again and seasonal greetings to all.
Av.

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No problem, Avtar. Really. I just cut & pasted it.

I agree with you - a real pity FP are not producing the goods because they do have some good points.

Glad if helped you.
Must say if I don't know details about somebody else's system feel uncomfotable using it.
Good way is to get education from good sorces and find system on your own.
Best wishes

ecosse said:

Does anyone have any knowledge of Fat Prophets. I seem to have concerns about them but on the other hand they are on the homepage of T D waterhouse.

Click to expand...

I have subscribed to Fatprophets for 3 years and am sorry to say that most of the buy recommendations they sent me are losing money and the one and only sell recommendation they sent me soon after quickly increased in value. At the beginning of the credit crunch and fall of the stock market I like everyone else was thinking of getting out of the market for a while but Fatprophets strategy was to stay in. Very costly mistake for me. Some of the stocks I hold more than halved in value and are still showing me a big loss on my original investment.

springz said:

I've been with FP for about 9 months now. I would be interested to know what are your main concerns. As for me I think they are o.k. but you have to be selective with their recs. Also, only now, am I learning that their daily feedback reports need to be translated. For instance, if they report that such and such a price move "was NOT IDEAL but (stick with it).." Don't do any such thing. What they mean to say is that they called it wrong but can't bring themselves to cancel the trade. That's what you've got to do though - pull the plug a.s.a.p.- if you want to avoid the inevitable stop out that they are prepared to sit through. Could say more but enough for here.

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waste of time, I subscribed for 3 years, CFDs total loss, UK Market almost as bad, I was holding Rio at around £70 they dropped to £14, said buy HGM at £1.82 they dropped to around £0.40, said buy AVC at £1.40 they dropped to around £0.40, although Fat Prophets recommended buying all of these shares and they say they will advise when to sell, at no time did they advise selling. Don't go there!!!!!!!!!!!!!!

They tried to sell their service to me. I was impressed by their website which gave good details of their record.

What did not impress me was that they claimed the UK had made a profit in 2009 to date but the detail showed a loss of the same percentage. It would have taken skill to make such a loss on a steadily rising market.

They were substantially up on Australia and commodities (which do not interest me).

Having lost money with Galvan I found no incentive to join FatProphets.

anyone thought of signing up to the service and doing the opposite of their recs?

might be quite profitable.

You know you may have an idea there.

Here is the data for Fat Prophets latest dozen or so completed CFD trades. Not good.

627 Long Equity BARC GBP 10 Feb 272.8 11 Feb 268.5 4.30 10.86 -97.16
626 Long Equity TLW GBP 10 Feb 1164 11 Feb 1202 38 47.49 715.17
624 Short Equity CTX AUD 09 Feb 8.88 11 Feb 9.20 0.32 39.96 -747.16
623 Short Equity GFF AUD 09 Feb 1.48 11 Feb 1.55 0.07 30.61 -737.82
622 Short Equity ALS AUD 09 Feb 3.98 11 Feb 4.32 0.34 20 -727.20
617 Short Equity AVO AUD 29 Jan 1.65 11 Feb 1.78 0.13 20 -727.20
619 Short Equity KGF GBP 04 Feb 208 09 Feb 203 5 10 73.35
612 Short Equity OML GBP 27 Jan 102 09 Feb 99 3 10 49.61
620 Short Indices FTSE100 GBP 04 Feb 5170 08 Feb 5058 112 20.46 203.54
616 Short Currency AUDUSD USD 29 Jan 0.8898 04 Feb 0.8736 0.0162 0 1,134
606 Short Equity KGF GBP 22 Jan 223 03 Feb 213.5 9.50 10 147.32
611 Short Equity NXT GBP 22 Jan 1940 02 Feb 2025 85 10 -208.90
597 Long Equity BG. GBP 11 Jan 1210 01 Feb 1140 70 10 -208.80

What is particularly annoying is not just their ongoing lack of success but FP's patronising "daily posts" telling you how good their methods are and how they stay ahead of the game (!) Even an occasional "oops, that did the opposite of our prediction" would be refreshing: but, no, just a perfunctory "we're out of that trade now".

Stay clear.

Just like to say thanks for the feedback on this-it helped me make an informed decision on FP for which I'm grateful.

I was thinking about this service and looking at their recent results looks pretty good, is anyone still with them and recording the same results. Showing profit of 1479 pts for past few months

691 Long Currency GBPUSD USD 25-Jun 1.5056 15-Jul 1.5323 267
700 Long Currency GBPUSD USD 14-Jul 1.5258 15-Jul 1.5458 200
697 Long Equity BP GBP 02-Jul 327 08-Jul 366 39
698 Long Equity FTSE GBP 02-Jul 4818 02-Jul 4849 31
696 Short Equity FTSE GBP 01-Jul 4855 02-Jul 4810 45
695 Short Equity BARC GBP 01-Jul 265 02-Jul 263 2
692 Short Equity MKS GBP 22-Jun 349.5 29-Jun 334.2 15.3
694 Short Equity KGF GBP 25-Jun 223 29-Jun 211.5 11.5
693 Short Equity BARC GBP 23-Jun 308 25-Jun 286 22
686 Short Equity MKS GBP 04-Jun 341 18-Jun 350.8 -9.8
684 Long Commodity NGN0 USD 03-Jun 4.6 14-Jun 5.02 420
689 Long Indices FTSE 100 GBP 08-Jun 5028 14-Jun 5168 140
688 Short Equity KGF GBP 04-Jun 222.5 14-Jun 226.5 -4
690 Long Equity BP GBP 09-Jun 388 10-Jun 348 -40
687 Short Equity BARC GBP 04-Jun 291 09-Jun 275.2 15.8
685 Long Equity WDC AUD 03-Jun 12.9 07-Jun 12.47 -43
683 Long Currency EURUSD USD 02-Jun 1.223 03-Jun 1.2239 9
682 Long Currency GBPUSD USD 01-Jun 1.4621 03-Jun 1.4621 0
679 Long Equity POG GBP 21-May 1142 01-Jun 1187 45
681 Short Equity MKS GBP 25-May 331 28-May 350 19
680 Long Equity FTSE GBP 25-May 4929 28-May 5187 258
674 Short Equity BARC GBP 14-May 313.8 25-May 282 31.8
678 Short Equity IAP GBP 19-May 375.5 25-May 356 19.5
677 Short Equity HMSO GBP 17-May 344.7 25-May 339 5.7
676 Short Equity MKS GBP 14-May 344.7 22-May 324.7 20
661 Long Commodity SpotGold USD 27-Apr 1171 21-May 1178 70
662 Long Commodity SpotGold USD 30-Apr 1180 21-May 1178 -20
671 Long Equity CXC AUD 12-May 20 21-May 17.5 -250
673 Long Equity RIO GBP 11-May 3240 14-May 3328 88
669 Short Equity MKS GBP 28-Apr 367 07-May 339.4 27.6
672 Short Equity IAP GBP 05-May 364.8 05-May 362.5 2.3
668 Short Equity BARC GBP 28-Apr 352.5 05-May 325.5 27
663 Long Equity ARM AUD 13-Apr 1.12 03-May 0.97 15
Total 1479.7

johnr59 said:

I was thinking about this service and looking at their recent results looks pretty good, is anyone still with them and recording the same results.

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Hi John.
Maybe you should read the thread from the beginning. It may help you conclude if they are any good.

Hi everyone,

this is my first post with t2w, and I too am looking for a good share analysis firm to get solid advice from. I was contacted by fp in march 2010 but they were very pushy, so I left it. One thing I've noticed about the earlier posts re fp is that at the time (end 2009) shares were rocketing up, so it is odd that they have such a poor record. I think I will give them a miss. thx for your contributions that have helped me. sorry I can't add anymore.