Trading and investing have got to be one of the consistently hottest topics around personal financial management. For those looking to increase their income, the lure of making deals and earning profits has always attracted traders who are skilled in technical analysis and sound fundamental analysis.
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 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 continue, you may want to watch this video by Mr. Longevity on YouTube that gives a quick review. Afterward, you will want to read the rest of our article for a more comprehensive review of Profit.ly.
Profit.ly Features Timothy Sykes Twitter
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 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 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.
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. However, suppose you’re running several brokerage accounts or want to manage several accounts on different platforms. Profit.ly is a great tool to view and collate your macro-level performance. 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. 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. You can share materials and links to deal strategies that you have found useful in your career if you are the top dealer. 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. 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 leaderboard is useful for those who want to know which people to follow in marketing and trade management. 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. 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.
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.
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. 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.
Get a Free Account
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
- Check out the blog and other posts from the community
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.
This accessible account option is still a great choice for traders who want to join a trading community and begin 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. 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.
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. 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.
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.
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.
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 Twitter
Tim offers his mentoring in two distinct packages: Tim’s Alerts and Pennystocking Silver. Tim’s Alerts grants you access to his exclusive chat room so you can direct communication with him and his other students, as well as 5 to 10 different stocks to be added to a 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 Twitter
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 Twitter
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.
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. 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. This Pro package comes in at $247 a month in fees. Timothy Sykes Twitter
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 Twitter
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.
Most Frequently Asked Questions Timothy Sykes Twitter
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. 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.
If you have any other concerns, you can contact email@example.com 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?
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. 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. But Tim Sykes is willing to consistently learn from them and share these learnings with the Profit.ly community.