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 go on, you may want to watch this video by Mr. Longevity on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of Profit.ly.
Profit.ly Features Which Episode Of Below Deck Had Tim Sykes
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 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.
Profit.ly is not just a forum for traders to discuss their 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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Trading Analytics
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. In that case, Profit.ly can provide a singular source to collate and view your overall performance on a macro-level. 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. 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. 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 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. So much so that there is an ironic “leaderboard” for users with most Madoff demerits.
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. 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.
Profit.ly allows you to follow the trades of other traders in real time. You can follow as many traders you like and create a curated feed with your favourite traders so that you don’t miss out on any good deals.
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.
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. 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
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
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. 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
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.
Novice Package
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. 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.
Trader Package
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.
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.
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. 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.
Pro Package
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.
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.
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Guru System
Profit.ly’s Guru System is an exclusive part of the 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. According to data listed on the site, his students have collectively made $16 million through trades he mentored. Which Episode Of Below Deck Had Tim Sykes
Tim offers mentoring in two 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 is $74.95/month, and it’s a separate subscription to the Profit.ly-tiered membership packages. Which Episode Of Below Deck Had Tim Sykes
Pennystocking Silver is Tim’s more aggressive trading mentorship available at $149.95 per month in subscription fees. The Guru package contains all of the features in Tim’s Alerts, but also includes his archive of approximately 7000+ trading lessons and weekly 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%). Which Episode Of Below Deck Had Tim Sykes
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. 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. Which Episode Of Below Deck Had Tim Sykes
Overall Impressions
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. Which Episode Of Below Deck Had Tim Sykes
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. 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.
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Frequently Asked Questions Which Episode Of Below Deck Had Tim Sykes
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?
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?
The accounts management page allows you to cancel your subscription at any moment and for any reason. 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 support@profit.ly or call their hotline at 205-851-0506. 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?
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.
