The topic of investing and trading is one of the most popular topics in 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 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 continue, you may want to check out this video by Mr. Longevity on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Is Timothy Sykes A Fraud
Trading is challenging; this is a lesson learned by both pros and newbies consistently throughout their careers. However, this doesn’t mean you shouldn’t be able to get help from others. 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 membership packages include their performance trackers so that you can adequately monitor your deals and how each new sale may affect your portfolio as a whole. 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 helps you by managing the data and showing you your deal performance 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. But what if you have multiple brokerage accounts? Or what if you want to manage accounts on different platforms? Profit.ly is a great tool to view and collate your macro-level performance. 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 is the perfect trading companion to have with you.
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.
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. 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. Users can freely designate any other user who fails to authenticate their deals with a “Madoff” tag. Ironically, there’s even a “leaderboard” of Madoff-related users.
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. The leaderboards and your account can be filtered according to specific terms for better analysis later on.
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. While other traders can help you develop new trading strategies and offer advice, it may not be your speed. Not to worry, Profit.ly comes with tools and options to fully privatize your profile so that you can keep your information and your trades viewable to you and you alone.
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Profit.ly Package Pricing
Profit.ly offers both a free and tiered plan that you can subscribe, with each tier offering different benefits and consequently higher prices.
Get a Free Account
Profit.ly’s social trading platform is free to you. They have a simple set-up procedure to allow you to participate using just your email and your chosen 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
- See your rank on the Leaderboards
- Check out the blog and other posts from the community
You should be aware that you might not have access to certain features paid Profit.ly users enjoy.
This accessible account option is still a great choice for traders who want to join a trading community and begin their trading journey.
You can upgrade to the Novice Package for $29.95 per month if you are interested. 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. Have a significant enough position to be publicly exposed and expect to see a cascade of losses against you.
You can create a private profile with the Trader package for $49.95 per month. This may be a sign to the community that you are an experienced trader who keeps their cards close to your chest. This way, you can keep your deals and their subsequent gains/losses private to you and you alone.
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. Due to the focus on individual trade performance, the trader package forgoes the ability to view other trader’s versions to keep their profile hidden from the users on the platform.
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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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.
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. According to data listed on the site, his students have collectively made $16 million through trades he mentored. Is Timothy Sykes A Fraud
Tim offers his mentoring in two distinct packages: Tim’s Alerts and Pennystocking Silver. Tim’s Alerts grants you access to his exclusive chat room so you can direct communication with him and his other students, as well as 5 to 10 different stocks to be added to a 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 comes at $74.95 per month, a whole separate subscription from the Profit.ly tiered membership packages. Is Timothy Sykes A Fraud
Pennystocking Silver is Tim’s more aggressive trading mentorship available at $149.95 per month in subscription fees. 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. Is Timothy Sykes A Fraud
Guru 2: Paul Scolardi, aka Superman
With a nickname like Superman, you can be sure to expect some great things to improve your trading and your overall understanding of the market. Paul Scolardi wears the nickname well and proves to be a veteran smallcap swing trader. Specializing in finding explosive potential based on market signals, he’s able to take advantage of incoming swings to pull in big profits. 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. The Superman Pro package is also similar as it grants you access to Paul’s entire video library of lessons as well as research reports and a handy IPO tracker for those of you who enjoy gaming the IPO-pops that occur with many new listings. This Pro package comes in at $247 a month in fees. Is Timothy Sykes A Fraud
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 website itself is easy to navigate, and the blog tab offers a plethora of user-submitted topics so that you can see if anyone on the platform has similar inquiries as yourself. Is Timothy Sykes A Fraud
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. 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. It’s necessary to temper your expectations with what the platform can do for you financially, but you may learn a thing or two on the way to becoming a better trader altogether.
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Most Frequently Asked Questions Is Timothy Sykes A Fraud
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?
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. You can manage your subscriptions by going to the settings tab. Click the subscription you want to change and click cancel.
If you have any other concerns, you can contact email@example.com or call their hotline at 205-851-0506. 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?
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. But Tim Sykes is willing to consistently learn from them and share these learnings with the Profit.ly community.