Incompetent watchman has low prospects (4,7)
I believe the answer is:
poor lookout
'prospects' is the definition.
I don't know anything about this answer so I can't judge whether this works.
'incompetent watchman has low' is the wordplay.
'incompetent watchman' becomes 'lookout' (lookout is a kind of watchman. I am not sure about the 'incompetent' bit.).
'has' is a charade indicator (letters next to each other).
'low' becomes 'poor' (similar in meaning).
'lookout' put after 'poor' is 'POOR LOOKOUT'.
Can you help me to learn more?
I've seen this clue in The Irish Independent.
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