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 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 overview. After, you’ll want to read the rest of our article for a more comprehensive review.
Profit.ly Features Timothy Sykes Small Accounts Investing
Trading can be difficult. This is something that both professionals and novices have learned throughout their careers. However, this doesn’t mean you shouldn’t be able to get help from others. Profit.ly allows traders to share information about viable trades and price movements, without having to worry about 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.
But don’t think Profit.ly is just a place to talk to other traders about their buy and sell 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 helps you by managing the data and showing you your deal performance 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
- Gain/Loss Percentages
- 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? 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 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.
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. 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. 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
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. Send them a private message, or post on their wall for interaction with Profit.ly’s traders community.
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. 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.
First off, know that you don’t need to pay a single cent to join Profit.ly’s social trading platform. They have a simple set-up procedure to allow you to participate using just your email and your chosen 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 account
- 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.
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. 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. 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.
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.
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. 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 Small Accounts Investing
Tim offers mentoring in two 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 Small Accounts Investing
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 Small Accounts Investing
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 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. That’s a “Superman” power in terms of market understanding if there ever was such a thing.
Paul, like Tim, has two subscription options: Superman Alerts or 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 Small Accounts Investing
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 Small Accounts Investing
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. 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.
Frequently Asked Questions Timothy Sykes Small Accounts Investing
Does Profit.ly cost 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?
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.
If you have any other concerns, you can contact firstname.lastname@example.org or call their hotline at 205-851-0506. 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. His deals are legitimate and his trading style has made him a successful trader.
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.