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 aims to mitigate the discrepancies of skill between pro and amateur traders by opening communication channels between the two and creating an open sharing community on the best (and worst) trades on the market.
This article will cover the Profit.ly platform and their “Guru”, pricing, and overall impressions of Profit.ly 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. After, you will want to read the rest of our article for a more comprehensive review of Profit.ly.
Profit.ly Features Timothy Sykes Morning Dips Buys
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. Profit.ly is a combination of the social nature of Facebook and the competitive nature of your favorite arcade game.
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. 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.
Analytics for Trading
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? 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 makes a great daily trading companion.
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. Helping one person may be a way to benefit you in the future. Sharing is the key here.
Also, you can share your losses with other traders who have suffered a loss. It is always better to share your grief with others in your life and even in your financial affairs.
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. Any user can designate any other user that fails to authenticate deals using 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 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
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 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.
Your profile can be curated to highlight the items that you would like other traders to see. You can create a small group to help you strategize with traders.
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.
Get a Free Account
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 accounts
- 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.
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. 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.
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. Have a significant enough position to be publicly exposed and expect to see a cascade of losses against you.
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. 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. To keep trader profiles hidden from other users, the trader package does not allow them to see any trader’s versions.
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.
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.
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.
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. 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 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. Timothy Sykes Morning Dips Buys
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. Timothy Sykes Morning Dips Buys
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.
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%). Timothy Sykes Morning Dips Buys
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 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. Timothy Sykes Morning Dips Buys
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. Timothy Sykes Morning Dips Buys
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. You need to be realistic about what the platform can do financially. However, you might learn some things along the way to becoming an even better trader.
Most Frequently Asked Questions Timothy Sykes Morning Dips Buys
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?
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.
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 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 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.
He has had his share of losses, just like any trader. However, Tim Sykes is open to learning from these losses and sharing his knowledge with Profit.ly.