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 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 the article for a more comprehensive review of Profit.ly.
Profit.ly Features Whats Profitly
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 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.
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.
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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? 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 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. 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. 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 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
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.
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. You can create a small group to help you strategize with traders.
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.
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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. They have a simple set-up procedure to allow you to participate using just your email and your chosen 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
- View the blog and other community posts
You should be aware that you might not have access to certain features paid Profit.ly users enjoy.
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. 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. When you divulge your work to the broader market, you may start seeing it move 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.
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.
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 only for the most serious traders and users who have the financial means to subscribe to the plan.
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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. Whats Profitly
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 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 comes at $74.95 per month, a whole separate subscription from the Profit.ly tiered membership packages. Whats Profitly
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. Whats Profitly
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 is a veteran small-cap swing trader who proudly wears the name. Specializing in finding explosive potential based on market signals, he’s able to take advantage of incoming swings to pull in big profits. 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 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. This Pro package comes in at $247 a month in fees. Whats Profitly
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 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. Whats Profitly
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.
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Most Frequently Asked Questions Whats Profitly
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. While you can get plenty done using a free account, most of Profit.ly’s more robust systems can only be accessed through their paid subscription packages.
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?
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 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. But Tim Sykes is willing to consistently learn from them and share these learnings with the Profit.ly community.