Here is my fourth month update:
Month 2 of the Trading Prophet review. Did I recover last months losses?
Trading Prophet is a full portfolio of football and horse racing betting and trading strategies that are bundled together into one package and fully automated via a third party betting bot (BF Bot Manager).
Once set up, it can be left running indefinitely without further intervention and it will automatically download each days selections and bet on them according to the parameters of each strategy that is running.
In total there are 29 separate strategies and each one is profitable over time so we have effectively got a fairly substantial portfolio of strategies in one bot allowing us to profit from all of them.
Given that there are so many strategies, the recommended minimum bank is £2000 which covers all of them. Of course you don’t have to use all the strategies so if you wanted to use a smaller bank you could choose a few and build it up from there.
I’m running the bot on a VPS so that it is always on and doesn’t require me to leave my own computer running.
I’ve recorded a short video that shows how it works, including a couple of days worth of results, here:
I’ve been saying for months that Football Index was being poorly run…..and now they’ve run it smack into a wall.
Last week they finally got around to a promised Q & A session that had previously been scheduled to be live video event. That was cancelled at fairly short notice.
Last Friday they sent out an email outlining major changes and a complete structural change of the dividend payout scheme. They suspended trading once this email was sent, reopening it the next morning, “To Protect Traders”
Needless to say, this absolutely crashed prices once the market went live.
The owner of Football Index Intelligence has decided to end the service. The publishers have cancelled all further subscriptions and are offering people free membership of another of their services to fullful subscription time already paid for.
I have been moaning about the management of Football Index for months, pretty much since the total mess that was made of introducing Sale and Purchase book mechanisms. They seriously mishandled that and it’s been downhill ever since.
Football Index Intelligence have been pretty good for the majority of the trial, his methodology and reasoning have been pretty sound. We did do well on dividend payouts and did have a portfolio that was set up ready of the Euros Tournament in the summer. My only real complaint about them was, sadly, rather prophetic. I recently stated in an update:
“I must admit the constant cycle of comments like “Prices have risen this week and I’m confident we’re now seeing the start of return to normal prices”, followed the next week by “Prices have fallen again this week but I’m sure they’ll rise again so lets buy some potential bargains” from this service are starting to grate on me. “Another round of losses….oh well onward and upward”
I take absolutely no pleasure from the demise of the Index, the man behind F. I Intelligence and thousands of other Index customers have seen the value of their portfolio decimated. They still have the shares they purchased but the value has absolutely gone. Their only real hope is that the Index is bought out by a better run company and that some confidence returns to it after that. I do think there’s a really good platform there, and potentially a fantastically fun and lucrative product there, but it and its customers have been scuppered by over ambition, over generous promotions, and outright poor management.
It goes without saying that this is FAILED