The topic of investing and trading is one of the most popular topics in personal financial management. For those looking to increase their income, the lure of making deals and earning profits has always attracted traders who are skilled in technical analysis and sound fundamental analysis.
You have many options for financial strategies and products, making managing your position more difficult. This can make it more difficult to manage your performance and keep up with the rapid market changes.
Profit.ly aims to mitigate the discrepancies of skill between pro and amateur traders by opening communication channels between the two and creating an open sharing community on the best (and worst) trades on the market.
This article will discuss the systems that make up the Profit.ly platform, their “Guru” system, the pricing behind their services, and our overall impression of how Profit.ly does as a trading resource.
Before you go on, you may want to check out this video by Mr. Longevity on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review of Profit.ly.
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Trading can be difficult. This is something that both professionals and novices have learned throughout their careers. However, this doesn’t mean you shouldn’t be able to get help from others. Profit.ly allows traders to share information about viable trades and price movements, without having to worry about their anonymity.
Profit.ly is a way to socially trade in a new innovative way. It features mentors, groups and leaderboards that show who is doing the best deals and which strategy. Profit.ly is a combination of the social nature of Facebook and the competitive nature of your favorite arcade game.
But don’t think Profit.ly is just a place to talk to other traders about their buy and sell strategies. Profit.ly memberships include performance trackers that allow you to monitor the progress of your deals and see how each sale affects your overall portfolio. Most trades on the platform focus on short-term swings or intra-day trading, which can create jitters for some, but it is where you can find the action happening. Profit.ly allows you to manage your data and show you how your deals are performing in real time.
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Profit.ly can give you insights into many critical aspects of your trading routine, including:
- Total Running Net Profit
- Gross profit
- Trade Volume
- Percentages of Gain and Loss
- Average gains/losses
- And much more.
Now some of these may be included in your standard brokerage account suite of tools. However, suppose you’re running several brokerage accounts or want to manage several accounts on different platforms. Profit.ly is a great tool to view and collate your macro-level performance. Want to know which part of your overall portfolio is generating too much risk? Which is the best performer of your portfolio? Profit.ly’s deal tracker is the perfect trading companion to have with you.
Trade Leaderboard and Deal Verification
Your trade performance doesn’t have to be limited to your isolated enjoyment. Their trade leaderboards help bring the joy of a community experience to the ordinarily tricky process of maintaining and monitoring your portfolio performance.
With Profit.ly, you can view the top performers who shared their deal metrics on the leaderboards and even see what kind of trading tactic they use through their shared posts. If you happen to be the top dealer, you can also share any materials and links to deal tactics that you might’ve found helpful in your career. Sharing is the name of the game here, and helping one user may end up benefiting you as well.
You also get the benefit of sharing your losses with other users experiencing a trade loss. It is always better to share your grief with others in your life and even in your financial affairs.
Profit.ly also includes an automatic authentication system within their user portals so you can easily sync up your brokerage accounts with your Profit.ly profile. The platform even has a (funny) demerit system called “Maddoff-ed,” after the late Bernie Maddoff and his infamous Ponzi-hedge fund. Any user can designate any other user that fails to authenticate deals using a Madoff tag. So much so that there is an ironic “leaderboard” for users with most Madoff demerits.
Profit.ly members have access to this leaderboard as well as other positive leaderboards that feature the highest-earning users. This is a handy resource for users looking to see whom to follow (and not to follow) regarding trade management and marketing. You can filter the leaderboards and your account based on specific terms to gain a better understanding of your account.
Keep Up with Other Traders
You can easily network with any user you find interesting, widening your contacts within the industry as well as lending your own trading experience to others who may need your expertise in trading. Send them a private message, or post on their wall for interaction with Profit.ly’s traders community.
In keeping with this social aspect of the Profit.ly platform, you can even follow the progress of other traders and view what developments they are having with their trades in real-time. You can track as many traders as you want and create a curated feed of your favorite traders, so you never miss out on a good deal.
You can curate your profile to feature the items you want other traders to see as well. If you’re looking to build a small group of traders to strategize your coming deals with, then you can start posting about your strategies on your profile and see who hits you up on your feed.
Maybe all the socializing is not for you. Sure, other traders help build new trading strategies, but perhaps you don’t want your deals to be spread throughout the platform for everyone to scrutinize. Profit.ly offers tools and options that allow you to completely privatize your profile. This will ensure that your trades and information are private to you.
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Profit.ly Package Pricing
As with many online services nowadays, Profit.ly has both a free plan and tiered paid plans that you can subscribe to, each tier conferring different benefits at subsequently higher prices.
Profit.ly’s social trading platform is free to you. You can join Profit.ly’s social trading platform by using your email address and screen name. Confirm your email through the registration email they send, and you can begin to enjoy some (limited) privileges as a member of the Profit.ly community. These benefits include:
- importing trades from a brokerage account
- View Account Data and Reportage
- Check out your rank in the Leaderboards
- View the blog and other community posts
Be warned, though; you may be locked out of some features that paying Profit.ly users enjoy, as well as experience some setbacks in accessing chat functions and some of the more advanced blog tools.
Still, this accessible account option is excellent for those looking to get into a community of traders and start their trading journey.
If you feel like upgrading, you can then move on to their Novice Package, which comes at a manageable $29.95 per month in subscription fees. It includes all of the features mentioned above and allows you to verify, track and report trades within the community. You can also comment on posts and user profiles. You can also begin following users on their trading performance, communicate with them more robustly with Profit.ly’s full chat suite, and view other trader stats to see how they are doing in specific deals and portfolios.
If you’re serious about trading, you may know that an essential aspect of any good trade is keeping certain positions confidential. When you divulge your work to the broader market, you may start seeing it move against you. You may be in a position that is sufficiently significant to be made public that you can expect to suffer a series of losses.
The Trader package, which comes in at $49.95 a month in fees, allows you to create a private profile, which in itself is its community of traders who willingly share information across other personal profiles; a sign of an experienced trader who holds their cards close to their chest. You can keep your trades and subsequent losses private.
The Trader package includes all of the features in the Novice and Free packages. However, there is one important exception: you can view other stats. To keep trader profiles hidden from other users, the trader package does not allow them to see any trader’s versions.
I’m sure there will be some of you who will look at all three of the previous packages and wonder if there is an all-encompassing model which hands you the reins to the website’s many advanced features.
This model is called Profit.ly’s Pro Package, which comes at a sizable $74.95 a month, though there is a 22% discount available for those who are willing to pay the fees in bulk for an annual subscription plan.
Please think of the Pro Package as a synergy of all the features found in the Novice and Trader packages: you get to continue to view user statistics while allowing yourself the option of privacy in the moments when you need it most.
This package is reserved for those most serious about getting the most out of the Profit.ly platform, so expect many of these users to be seasoned traders or users with deep enough pockets to afford the plan on a subscription basis.
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The Guru System is a unique part of the ecosystem that makes up the Profit.ly platform. Profit.ly is a social trading platform that focuses on the market, but it also offers a resource center where traders can learn about tips and tricks to improve their performance in the markets.
While there are many options available that can teach you how to trade in a certain way (which is also available on the Profit.ly platform), the Guru System is more hands-on, which allows you to learn from actual traders who’ve been in the industry for a long time, including Profit.ly’s founder Tim Sykes.
The Guru system is a separate subscription from the membership packages we’ve outlined above, as it gives you direct access to curated real-world tips on where the market is and how to make the most use out of current trends. You can currently subscribe to either Tim Sykes, or Paul Scolardi, as the Guru’s availability changes with time.
Guru 1: Tim Sykes
Tim Sykes is the most well-known name on the site. He has been a successful trader in penny stock markets and has made a name of himself. His students have made $16million through the trades they mentored, according to data on the site. Broker That Timothy Sykes Uses
Tim offers his mentoring in two distinct packages: Tim’s Alerts and Pennystocking Silver. Tim’s Alerts gives you access to his chat room, where you can communicate with him and his students. You also have the option to add up to 10 stocks to your curated watchlist. You can opt-in to receive push notifications and SMS via your smartphone. These notifications will alert you about any important trades that you are watching. This plan is $74.95/month, and it’s a separate subscription to the Profit.ly-tiered membership packages. Broker That Timothy Sykes Uses
The more aggressive mentoring program Pennystocking silver is available for $149.95 per month. This Guru package includes all the features you see in Tim’s Alerts but contains his archive of roughly 7000+ video lessons on trading as well as weekly video updates.
You can subscribe to both packages on a monthly basis but get a discount of around 20% if you subscribe each year. Broker That Timothy Sykes Uses
Guru 2: Paul Scolardi, aka Superman
You can expect great things from Superman and other nicknames that will help you trade better and understand the market. Paul Scolardi wears the nickname well and proves to be a veteran smallcap swing trader. He specializes in finding explosive potential using market signals and is able to profit big from incoming swings. That’s a “Superman” power in terms of market understanding if there ever was such a thing.
Like Tim, Paul has two options available for subscription: Superman Alerts and Superman Pro. Superman Alerts works in the same way as Tim Sykes’ alerts package, but costs $147 per month. Superman Pro is similar to the Tim Sykes package, but it gives you access to Paul’s entire video library and research reports. It also includes a handy IPO tracker that allows you to play the IPO-pops associated with new listings. This Pro package comes in at $247 a month in fees. Broker That Timothy Sykes Uses
Profit.ly is not the next Facebook. However, it may be a good choice as it focuses only on one niche and allows its users the freedom to trade and interact with the community. The site is simple to use, and you can check out the blog tab for similar topics submitted by users. Broker That Timothy Sykes Uses
This is not a platform that guarantees “get rich quick”, but rather a social platform for traders to learn from one another and better understand the ever-changing financial markets. Try it out with their free plan, and if you like the platform, you can easily subscribe to some of the lower-tier intends to see what more you can do with the platform. You need to be realistic about what the platform can do financially. However, you might learn some things along the way to becoming an even better trader.
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Frequently Asked Questions Broker That Timothy Sykes Uses
Is Profit.ly a waste of money?
Profit.ly offers several membership options. One is a free account, while most require a paid subscription. Profit.ly offers several membership options. While you can do a lot with a free account. However, the majority of their more powerful systems require a paid subscription.
How do I open a Profit.ly Account?
You can open a Profit.ly account in a matter of seconds as it is free to join the platform and start building your profile. All you need to do is set up your account like any other social media platform and confirm the legitimacy of your email by verifying it through a registration email they will send you.
For Profit.ly’s paid subscriptions, you will need to have a valid payment method and submit your details on their secure online order form.
How Do I Cancel My Subscription?
The accounts management page allows you to cancel your subscription at any moment and for any reason. Click your profile image at the top right corner of the screen and click settings. In the settings tab, you can see an option to manage your current subscriptions. Click the subscription you want to change and click cancel.
Support@profit.ly can be reached at 205-851-0506 if you have other questions. You can also use the support button tab on every page on the Profit.ly website or submit an easy-to-fill-out web form.
Who is Tim Sykes, you ask?
The man behind Profit.ly, Tim Sykes, has been a somewhat controversial figure in trading due to his focus on penny stocks, his aggressive marketing style, as well as his brash persona. But his deals are legitimate, and his type of trading has profited him now and then.
Like any trader, he has experienced his fair share of losses. However, Tim Sykes is open to learning from these losses and sharing his knowledge with Profit.ly.