profitsprophets.com

[AC007]

This thread is beginning to smell.

 

[kateli]

Hi Guys

Just to update you, on 29th March I posted the Profits Prophets opening trade of that day. Here is the follow-up trading notice I received on the 31st: -

''Profits Prophets 30/03/07G. Re 29/03/07A (we place buy stop order (4 x stake) EUR/USD at 1.3340). We move stop to 1.3360 to lock in 80 points profit.''

In addition, they bought the EUR/USD twice more on the 30th March buying on dips at 1.3300 and 1.3322, both trades at 4 x their usual stake. They subsequently moved those stops to lock in 260 and 160 points profit respectively. So from the three EUR/USD trades together I - and their other members - have made 500 points profit.

My April membership fee is paid already.


Kate

 

[Depth Trade]

Hi Guys

Just to update you, on 29th March I posted the Profits Prophets opening trade of that day. Here is the follow-up trading notice I received on the 31st: -

''Profits Prophets 30/03/07G. Re 29/03/07A (we place buy stop order (4 x stake) EUR/USD at 1.3340). We move stop to 1.3360 to lock in 80 points profit.''

In addition, they bought the EUR/USD twice more on the 30th March buying on dips at 1.3300 and 1.3322, both trades at 4 x their usual stake. They subsequently moved those stops to lock in 260 and 160 points profit respectively. So from the three EUR/USD trades together I - and their other members - have made 500 points profit.

My April membership fee is paid already.


Kate

Hey,

500 pips divided by 2 then divided by 4 = 62.5

62.5 pips actually made by the total move, not 500.

DT

 

[kateli]

Hey DT

First trade = 1.3360 - 1.3340 = 20 pips x 4 = 80.

Second trade = 1.3365 - 1.3300 = 65 pips x 4 = 260

Third trade = 1.3362 - 1.3322 = 40 pips x 4 = 160

Total of three trades = 500 pips profit.

Kate

 

[Kinger]

How long have you got to put these trades on ? I presume you'll always need to be by your machine ?

 

[kateli]

Hi Kinger

Profits Prophets send all their trades by text to their member's mobiles as well as email, so it's easy for me to phone my spread betting company with the text message of the trade in front of me, if I am away from my computer. (You can also opt out of either the text message, or the email if you'd rather not receive emails at work, for example).

By the way, they did not trade yesterday. So between the emails/text messages from PP I can get on with my life!

However, just to keep you in the loop, so to speak, I've just locked in 40 points from a NZD/JPY trade they sent me this morning!

I hope this helps

Kate

 

[Trader333]

(You can also opt out of either the text message, or the email if you'd rather not receive emails at work, for example)

It would be much better to opt out of the whole thing and learn how to trade for yourself


Paul

 

[CameronTrader]

It would be much better to opt out of the whole thing and learn how to trade for yourself


Paul

Paul

You recommend that people should learn to trade the markets.

Four points.
1) Surely you are aware that almost every amateur trader loses all his money - the huge profits of IG Index, City Index, etc are the money lost by amateur traders trying to learn to trade the markets themselves. I don't think you should encourage people to line the pockets of the spread-betting companies even more. Successful traders tend to be full time experts. Most people do not have the time to do the research and to choose the right times to get in and out of the market. Better to find successful traders such as Profits Prophets and follow their trades, and to make profits using their skill and knowledge.

2) In an earlier posting you stated that Profits Prophets are an advisory service - not so - they are traders, see their website. They are not a fly by night advisory service but have been in business trading the markets for years.

3) Because they supply an information service and they do not give advice, they are not required to register with the FSA or any other body.

4) While the stock markets have been falling recently, Profits Prophets have been shorting the Dow Jones and the Dax indices and have made excellent profits for me. Is your trading record as good, and what do you charge?

Cameron

 

[Amanda1]

Amanda

Hi Kateli

You say you use a spread betting company. Do you not find this limits the trades you are able to open as some of profs trades are CFD's n futures.

May I also ask you which company you use.

Cheers

Amanda:

 

[nkruger]

Paul

You recommend that people should learn to trade the markets.

Four points.
1) Surely you are aware that almost every amateur trader loses all his money - the huge profits of IG Index, City Index, etc are the money lost by amateur traders trying to learn to trade the markets themselves. I don't think you should encourage people to line the pockets of the spread-betting companies even more. Successful traders tend to be full time experts. Most people do not have the time to do the research and to choose the right times to get in and out of the market. Better to find successful traders such as Profits Prophets and follow their trades, and to make profits using their skill and knowledge.

2) In an earlier posting you stated that Profits Prophets are an advisory service - not so - they are traders, see their website. They are not a fly by night advisory service but have been in business trading the markets for years.

3) Because they supply an information service and they do not give advice, they are not required to register with the FSA or any other body.

4) While the stock markets have been falling recently, Profits Prophets have been shorting the Dow Jones and the Dax indices and have made excellent profits for me. Is your trading record as good, and what do you charge?

Cameron

Afternoon Cameron,

I must say, I do agree with Paul - in the long run it is better to learn to trade yourself, rather than use a 3rd party to supply your signals. What happens when they stop sending you signals ? How do you carry on trading ?

With regard to your Point 1) I agree most people have not got an unlimited pot of beans with which to give to the SB companies while learning to trade themselves. One way round could be to do what I did for all of last year (2006) while in a full-time job. I worked on strategies using a demo account with Tradindex ( I think Worldspreads have one as well ) read as much as I could every spare minute and by September I had a workable strategy that backtested well so I then started spreadbetting at 1p per pip with Finspreads with mixed results. I kept at it though, and finally started full time spread betting this April using my own strategies (that have been refined with the help of other members on these boards)

I do not have to rely on a 3rd party to supply me with trade opportunities, and so have no need to ring these people on a daily basis to see if 1.) They are fit and well 2.) They are going to send me any signals today, so that I may be able to earn some beans, and 3.) Will they be carrying on in business tomorrow, so I know what to tell the Mrs. about forthcoming income......

Just my tuppence worth.

 

[cranky-dan]

It would be interesting to know if kateli was one of the investors in the "Managed Programme" offered by Profits Prophets?

It lasted a few months and more or less wiped everyone out. This is a fact and I have proof of it.

I also received personal emails from kateli urging me to join up.

Avoid.

 

[Trevor2522]

What is this 'Managed Programme'? Never heard of it. Please tell us the sordid details in full !

I'm currently half-way through a month's trial with Profits Prophets at £100 as curiosity got the better of me. They are in modest profit so far but using a spreadbet company will hack into any earnings due to the discrepancy between spreadbet and proper broker prices, which PP use.

They had a few net losing trades on 2-year T-Notes which spreadbet companies don't offer and I thankfully didn't play. PP's favourite is the Dow Jones 30 index : several losing bets shorting as it went up, but now recouped as it takes a tumble.

I'm currently challenging them on a Dow trade which I claim was stopped out but they claim wasn't. There will always be such disputes unless clients use the same broker as PP, i.e. Saxo Bank.

 

[Trevor2522]

Profits Prophets' Trial Results 6 February - 6 March 2008

I missed out on 1-5 Feb 2008 but they sent me the full month's results in Excel anyway.

Apart from those 5 days I can vouch for the veracity of their claims. Alerts are sent via SMS, and email a few minutes later. Must be free to trade promptly, otherwise the entry price may be lost.

+1318 points for Feb 08. +554 points for 1-6 Mar 08. Hard to argue with those figures. Based on Saxo bank's charts and trading platform. Others may have different spreads, prices and slippage, but not by any significant amount.

Best trade was +1200 points on RBS in early Feb. Non-exotic currencies performed reasonably. Exotics and 2-year T-Notes are not available via spreadbet companies. They love trading the volatile Dow -- something of an obsession -- but the net profit was quite small : a case of "10 steps forward, 9 steps back" !

Profits Prophets cancelled my Paypal subscription a few days before they were due to collect £400 for the first full month. Perhaps I asked them too many questions about their trades and base of operation. I did catch them fiddling one of the Dow results as a big profit when it was actually stopped out for a loss, but it may have been a genuine mistake. They just don't have adequate staff to handle the administration: successful traders -- apparently -- who are just too stingy to pay for office staff.

A money-spinner, yes ... but don't ask too many questions !

 

[Trevor2522]

My last post above was made 8 months ago giving good evidence of a profitable, albeit expensive, financial advisory service. Their fees were a bit out of my league so I didn't continue.

I'm amazed no-one has replied either positively or negatively. Are the resident naysayers keeping quiet -- because Profits Prophets actually have something of value -- instead of bad-mouthing the tipsters as usual? And the ones already with them keeping quiet about their good thing?

 

[BF1]

When you look at all the trades and the losses and profits it does look a no brainer. But who has the ability to trade all those markets and take the losses that some show?

a -200 loss will scare the living daylights out of most. Maybe this is why it is not so attractive to people, me included.

 

[Trevor2522]

I agree that PP's turnover is massive in relation to profits. The downsides are that you need a hefty bank AND the ability to trade at the drop of an SMS. Additionally, some of the exotic trades they placed -- like 5-year T-bonds and the Rouble -- couldn't have been placed with spreadbet companies. You need a substantial-deposit brokerage account.

Perhaps I shouldn't be surprised that truly successful traders don't care to share their selections with a paying Joe Public.