Trading and investing have got to be one of the consistently hottest topics around 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 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 go on, you may want to watch this video by Mr. Longevity on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Ted Talk Timothy Sykes
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 can be looked at as a new way to have a socially trading environment, complete with mentors, groups, and leaderboards to see who is leading in terms of deals and their strategy. Profit.ly is a combination of the social nature of Facebook and the competitive nature of your favorite arcade game.
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.
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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
- Gain/Loss Percentages
- 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. 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 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.
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.
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 also includes an automatic authentication system within their user portals so you can easily sync up your brokerage accounts with your Profit.ly profile. Profit.ly even offers a funny demerit system, called “Maddoff-ed”, after the infamous Bernie Maddoff’s Ponzi-hedge fund. Users can freely designate any other user who fails to authenticate their deals with a “Madoff” tag. So much so that there is an ironic “leaderboard” for users with most Madoff demerits.
This leaderboard and more positive leaderboards consisting of the highest-earning users are available to members of the Profit.ly platform. 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. Shoot them a private message or post on their wall to start interacting with Profit.ly’s community of traders.
Profit.ly allows you to follow the trades of other traders 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.
Your profile can be curated to highlight the items that you would like other traders to see. 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.
But maybe all this socializing isn’t necessarily up to your speed. 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
Profit.ly offers both a free and tiered plan that you can subscribe, with each tier offering different benefits and consequently higher prices.
First off, know that you don’t need to pay a single cent to join Profit.ly’s social trading platform. 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 account
- View account data and reportage
- Check out your rank in 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.
You can upgrade to the Novice Package for $29.95 per month if you are interested. Not only does it include all the features of the free account as stated above, but it also allows you to verify and track trades across the community and comment on user profiles and posts. 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.
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.
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.
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.
Profit.ly’s Pro package is the name of this model. It costs $74.95 per month. However, there is a 22% discount for those who pay 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 only for the most serious traders and users who have the financial means to subscribe to the plan.
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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. Ted Talk Timothy 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 also opt-in for SMS, Email, and push notifications on your smartphone that can alert you to any key trades you may be watching out for. This plan is $74.95/month, and it’s a separate subscription to the Profit.ly-tiered membership packages. Ted Talk Timothy Sykes
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. Ted Talk Timothy Sykes
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. This is a true “Superman” level of market knowledge.
Paul, like Tim, has two subscription options: Superman Alerts or 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. Ted Talk Timothy 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 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. Ted Talk Timothy 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. 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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Frequently Asked Questions Ted Talk Timothy 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.
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.
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?
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.