Trading and investing have got to be one of the consistently hottest topics around personal financial management. The allure of making deals and capturing profits based on sound fundamental analysis and technical understanding (and maybe a bit of luck) has regularly caught the eye of would-be traders looking to up their income.
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 is an online platform that aims to reduce the disparities in skill between professional and amateur traders. It opens communication channels between them and creates an open community for sharing information on the best and worst trades on the markets.
This article will cover the Profit.ly platform and their “Guru”, pricing, and overall impressions of Profit.ly as a trading resource.
Before you continue, you may want to check out this video by Mr. Longevity on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review.
Profit.ly Features Dan Griffith Tim Sykes
Trading can be difficult. This is something that both professionals and novices have learned throughout their careers. But it doesn’t mean that you can’t get help from your fellow man. Profit.ly provides the platform for traders to freely share their information on viable trades and possible price movements without fear of losing 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. Take the sociability of Facebook and insert the competitive nature of your favorite arcade game; you then have Profit.ly.
Profit.ly is not just a forum for traders to discuss their 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. The platform’s trades are primarily short-term swings and intra-day trading. This can cause jitters, but it is where the action is. Profit.ly allows you to manage your data and show you how your deals are performing in real time.
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.
Some of these tools may already be part of your standard brokerage account suite. However, suppose you’re running several brokerage accounts or want to manage several accounts on different platforms. In that case, Profit.ly can provide a singular source to collate and view your overall performance on a macro-level. You want to find out which portion of your portfolio is too risky? Which is the best performer of your portfolio? Profit.ly’s deal tracker makes a great daily trading companion.
Trade Leaderboard and Deal Verification
Trade performance does not have to be a matter of your own enjoyment. Their trade leaderboards help bring the joy of a community experience to the ordinarily tricky process of maintaining and monitoring your portfolio performance.
Profit.ly allows you to view the top performing dealers who have shared their deal metrics and can even see the trading strategies they use in 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. Helping one person may be a way to benefit you in the future. Sharing is the key here.
Also, you can share your losses with other traders who have suffered a loss. Always better to share your grief in life and finances.
Profit.ly has an automated authentication system that allows you to sync your brokerage accounts with Profit.ly. 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. Ironically, there’s even a “leaderboard” of Madoff-related users.
This leaderboard and more positive leaderboards consisting of the highest-earning users are available to members of the Profit.ly platform. This leaderboard is useful for those who want to know which people to follow in marketing and trade management. 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 follow as many traders you like and create a curated feed with your favourite traders so that you don’t miss out on any good deals.
You can curate your profile to feature the items you want other traders to see as well. You can create a small group to help you strategize with traders.
Maybe all the socializing is not for you. While other traders can help you develop new trading strategies and offer advice, it may not be your speed. 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.
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. You can start to enjoy limited privileges as a Profit.ly member by confirming your email via the registration email. These benefits include:
- Importing trades from a brokerage accounts
- View Account Data and Reportage
- See your rank on the Leaderboards
- View the blog and other community posts
You should be aware that you might not have access to certain features paid Profit.ly users enjoy.
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. If you expose your work to the wider market, it could lead to it moving 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.
Naturally, the Trader package comes with all the features mentioned in the Free and Novice packages, with one key exception: the ability to view other stats. To keep trader profiles hidden from other users, the trader package does not allow them to see any trader’s versions.
There will be those who look at the three previous packages and wonder whether there is a more comprehensive model that gives you full control over the site’s 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.
The Pro Package is a combination of all the features in the Novice or Trader packages. You can view user statistics and have privacy at the times you need it.
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.
Profit.ly’s Guru System is an exclusive part of the 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.
There are many resources that will teach you how trades work (which can also be found on Profit.ly), but the Guru System is more practical and allows you to learn directly from traders who have been in the business for a while, such as Profit.ly founder Tim Sykes.
You can subscribe to the Guru system separately from the other membership packages. It gives you access to real-world tips and insights on the market, how to get the most out of current trends, and where it is. 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. Dan Griffith Tim Sykes
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. Dan Griffith Tim Sykes
Pennystocking Silver is Tim’s more aggressive trading mentorship available at $149.95 per month in subscription fees. The Guru package contains all of the features in Tim’s Alerts, but also includes his archive of approximately 7000+ trading lessons and weekly updates.
Both packages can be subscribed to on a month-to-month basis, but you do get to enjoy a discount if you subscribe annually (around 20%). Dan Griffith Tim Sykes
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.
Paul, like Tim, has two subscription options: Superman Alerts or Superman Pro. Superman Alerts functions similarly to Tim Sykes’ alerts package but comes at a higher price point of $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. Dan Griffith Tim Sykes
Profit.ly may not be the next Facebook, but that may work in its favor as it focuses on a niche profession and allows its users to put their minds towards their trading and the community around it. The site is simple to use, and you can check out the blog tab for similar topics submitted by users. Dan Griffith Tim Sykes
It’s important to note that this is not a guaranteed “get-rich” platform but rather a social platform to bring together a community of traders, both expert, and novice, and learn from each other better to understand the increasing complexities of a modern financial market. You can try it for free, and if the platform appeals to you, you can subscribe to the lower-tier plans to discover what else you can do on 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.
Frequently Asked Questions Dan Griffith Tim Sykes
Is Profit.ly a waste of money?
Profit.ly offers several membership options. One is a free account, while most require a paid subscription. While you can get plenty done using a free account, most of Profit.ly’s more robust systems can only be accessed through their paid subscription packages.
How do I Open a Profit.ly account?
Profit.ly accounts can be opened in seconds. You don’t have to pay anything and you can start building your profile right away. You can set up your account as any other social media platform. Once you have verified your email through their registration email, you will be able to confirm that it is legitimate.
Profit.ly’s paid subscriptions require you to have a valid payment option and complete their secure online order form.
How do I cancel my subscription?
You can cancel your subscription at any time and for any reason through the accounts management page. Click on your profile picture in the upper right corner of the screen, and then 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 Profit.ly’s support tab to submit a simple-to-fill out web form or click the button tab on any page.
Who is Tim Sykes, you ask?
Tim Sykes, the man behind Profit.ly has been controversial due to his penchant for penny stocks, aggressive marketing style and his brazen 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.