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.
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’ll want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Timothy Sykes Brokerage Statement
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 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 helps you by managing the data and showing you your deal performance 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. 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 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. 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.
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
It’s easy to network with anyone you like, expanding your industry contacts and lending your trading expertise to others. 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. You can create a small group to help you strategize with traders.
But maybe all this socializing isn’t necessarily up to your speed. 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
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. 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
- See your rank on 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. 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. 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.
Trading is serious business. You may be aware that it is important to keep certain positions secret if you are serious about trading. 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. 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.
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. The Guru’s available change with time, so currently, you have two available experts you can subscribe to, Tim Sykes or Paul Scolardi.
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. His students have made $16million through the trades they mentored, according to data on the site. Timothy Sykes Brokerage Statement
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 comes at $74.95 per month, a whole separate subscription from the Profit.ly tiered membership packages. Timothy Sykes Brokerage Statement
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. Timothy Sykes Brokerage Statement
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. 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.
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. 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. The Pro package costs $247 per month. Timothy Sykes Brokerage Statement
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 site is simple to use, and you can check out the blog tab for similar topics submitted by users. Timothy Sykes Brokerage Statement
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.
Frequently Asked Questions Timothy Sykes Brokerage Statement
Does Profit.ly cost 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?
Profit.ly accounts can be opened in seconds. You don’t have to pay anything and you can start building your profile right away. 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.
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 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 on the subscription that you wish to cancel and then click on it again.
Support@profit.ly can be reached at 205-851-0506 if you have other questions. 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, you ask?
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.