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.
With the amount of different financial products and strategies available in most markets, managing your position is at, and your overall performance becomes more and more a battle against rapid market movements and your ability to keep up.
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. After, you will want to read the rest of the article for a more comprehensive review.
Profit.ly Features Tim Sykes Penny Stock List
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. 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. 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.
Analytics for Trading
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. Want to know which part of your overall portfolio is generating too much risk? Which one is the best performer? 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. The trade leaderboards bring joy to the otherwise difficult task of monitoring and maintaining your portfolio’s 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. Sharing is the name of the game here, and helping one user may end up benefiting you as well.
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 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. The leaderboards and your account can be filtered according to specific terms for better analysis later on.
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.
Profit.ly allows you to follow the trades of other traders 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.
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. 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.
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 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.
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. 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. 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. 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.
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.
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.
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 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. While Profit.ly primarily markets itself as a social trading platform, it is also a resource center for learning about some tips and tricks regarding market performances and unknown signals to the everyday trader.
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. Tim Sykes Penny Stock List
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. Tim Sykes Penny Stock List
The more aggressive mentoring program Pennystocking silver is available for $149.95 per month. 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.
You can subscribe to both packages on a monthly basis but get a discount of around 20% if you subscribe each year. Tim Sykes Penny Stock List
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. 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. 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 Penny Stock List
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. Tim Sykes Penny Stock List
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. 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 Penny Stock List
Is Profit.ly a waste of money?
As we mentioned above, Profit.ly has several membership options, with one being a free account and most requiring a paid subscription of some sort. 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. 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?
The accounts management page allows you to cancel your subscription at any moment and for any reason. 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. But Tim Sykes is willing to consistently learn from them and share these learnings with the Profit.ly community.