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 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. Afterward, you’ll want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Tim Sykes Followers
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 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. Take the sociability of Facebook and insert the competitive nature of your favorite arcade game; you then have Profit.ly.
But don’t think Profit.ly is just a place to talk to other traders about their buy and sell 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. 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.
The Profit.ly platform can provide you analytics into several critical factors in your daily trading regiment, such as:
- 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? 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 one is the best performer? Profit.ly’s deal tracker makes a great daily trading companion.
Trade Leaderboard and Deal Verification
Your trade performance doesn’t have to be limited to your isolated enjoyment. The trade leaderboards bring joy to the otherwise difficult task of monitoring and maintaining your portfolio’s 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. You can share materials and links to deal strategies that you have found useful in your career if you are the top dealer. 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 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
It’s easy to network with anyone you like, expanding your industry contacts and lending your trading expertise to others. Shoot them a private message or post on their wall to start interacting with Profit.ly’s community of traders.
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.
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.
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. 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 accounts
- 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. 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. Profit.ly allows you to follow other traders and communicate more effectively with them using the full chat suite. You can also view trader stats and see their performance in particular deals or 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.
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.
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 only for the most serious traders and users who have the financial means to subscribe to the plan.
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 probably the most recognizable name on the page as he has made a name for himself by being one of the most profitable traders in the penny stock markets. According to data listed on the site, his students have collectively made $16 million through trades he mentored. Tim Sykes Followers
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. Tim Sykes Followers
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.
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%). Tim Sykes Followers
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 is a veteran small-cap swing trader who proudly wears the name. He specializes in finding explosive potential using market signals and is able to profit big from incoming swings. This is a true “Superman” level of market knowledge.
Like Tim, Paul has two options available for subscription: Superman Alerts and 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. The Pro package costs $247 per month. Tim Sykes Followers
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. Tim Sykes Followers
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.
Most Frequently Asked Questions Tim Sykes Followers
Does Profit.ly cost 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?
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. 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 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 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. But Tim Sykes is willing to consistently learn from them and share these learnings with the Profit.ly community.