Stock trading is an extremely risky game. On some days, you could have the benefit of pleasing and positive numbers. On other days you may experience the opposite and it can be very difficult to return to the point you were at your best. If you’re always in the mud, you will have be aware that relying solely on instinct and survival is not always enough.
If you’ve suffered losses from time to time and you’re likely to require solid advice from seasoned and tested trading experts. Additionally, you’ll require an important boost from fellow traders from around the globe, which is why we’ve identified an option that can help you to improve your performance in the industry. In this review, we’ll be taking a look at Profit.ly A well-respected single-stop social platform to trade!
For those of you who prefer a more visual experience, here is a video review from Mark Gossage’s YouTube channel. To get a comprehensive overview of Profit.ly, you may still want to check out our article below.
Overall Rating: 4.1/5 How To Read Penny Stock Charts
User Experience: 4.5/5
Profit.ly is an online trading platform that enables traders of different levels to be informed and accountable, as well as transparent and to build relationships with each other by offering a wide array of tools and features such as chat rooms, trade verification, and an enriched library of educational material.
How do I define Profit.ly?
Profit.ly is a trading website that functions as a learning and training platform for people new to trading as well as a place for traders with experience to keep track of their performance through the use of cutting-edge analytics tools. Providing users with a wide array of options for communication and trade that help traders from all walks of life connect with each other. It offers gurus with worthwhile investments within the confines of the platform. Consider it the social media equivalent to Facebook and Reddit but with a focus on experts and traders.
Profit.ly independently checks the performance of trades and posts all the data from them in the form of leaderboards. The trading platform is built on transparency and honesty: it guarantees that the transactions are legitimate and will not allow for fraud as much as is humanly possible. It was founded many years ago by penny stock trade expert and investment expert Timothy Sykes, along with fellow expert Michael Mosseri.
One time during his interview with Forbes magazine Sykes declared that Profit.ly was motivated by its focus “on the transparency of the entire spectrum of trades, something which was never previously done.” The idea Sykes said served two purposes: 1) keeping track of public data for not just the gurus, but also the newsletter authors and students and secondly) allowing everyone on the platform to learn from the losses and wins to the benefit of the trading industry. How To Read Penny Stock Charts
How Does It Perform?
Profit.ly follows a subscription-based model that allows stock traders to benefit from a variety of tools and services that are geared at achieving achievement. It is possible to create an account on the site at no cost, however you’re limited to access to the leaderboards and monitor the actions of non-gurus. If you’re ready to invest your money in order to find out what stocks the experts are trading in real time it is necessary to join one of Profit.ly’s offerings, which we will go over shortly.
The process of opening an account is simple: Create a profile with your experiences and expertise, connect to your brokerage account, and you’ll have the chance to climb your way to the top of the leaderboard. Profit.ly’s Leaderboard function, which was previously mentioned was designed to offer its users a glimpse of the performance of the trading community as well as its gurus. It’s not just a way to demonstrate your worth to a community of traders, but you can also use Profit.ly to purchase from a guru with the assurance that you’re confident with their expertise and the credibility of their claims.
If you are unsure about the idea of sharing the details of your broker account you can choose to publish your trades, either verified or not, by taking photographs. In Profit.ly are the vast number of trading classes and the capability to see statistics on a person’s profile as well as other ways to connect with your gurus through the chatroom along with notifications via email or text as well as updates.
Meet the Founder: Tim Sykes
Timothy Sykes is a well-renowned day trading personality who is well-known for delving his hands into penny stock trading. According to Investopedia, a penny stock refers to a small-sized company’s stock which trades at just less than 5 cents per share. Penny stock trading is an avenue for small-scale businesses to make the transition to a large marketplace as it gives them access to capital from the public. However, don’t get it wrong – it’s also an extremely risky game, as Sykes is sure to reveal through his many years of expertise.
Beginning in his late years in High School, Tim Sykes has, since then, earned over $6 million of profit during his long and successful career as trader. At 25 years old Sykes was given greater exposure and a larger impact as a participant in the reality series “Wall Street Warriors.” Then, he made use of the show to establish trading rooms as well as penny stock themes and educational content geared toward those who are new to the trading field. He also helped establish Profit.ly as a platform for openness, and for the community to lift each other up and compete through the platform.
The Profit.ly Gurus
One of Profit.ly’s most appealing features is the wide range of education resources, trade alerts, and other helpful stuff provided by the company’s internal gurus. Gurus are referred to the experts in trading who have earned significant amounts of profit from their collective years of knowledge. How To Read Penny Stock Charts
At its height, Profit.ly had housed up to five gurus, all of them a pro in their niche in the trading industry. Some of the most famous gurus included Connor Bruggermann, Nathan Michaud of Investors Underground, and Triforce among others. As of this writing, only two gurus remain on the platform: Founder of the penny stock market Tim Sykes and veteran smallcap swing trader Paul Scolardi, also known as Superman. When we take that into account, let’s take a look at the packaged offers each guru has to offer.
From Tim Sykes: Tim’s Alerts
Sykes provides a basic stock trading service which focuses on penny stock day trading through Tim’s Alerts. Costing $74.95 monthly, you’ll see him focus on the fundamental stock catalysts and use them to forecast the next moves that could occur when trading.
A standalone purchase of Tim’s Alerts will get you access to the chatroom and the mobile app available on iOS and Android devices; text, e-mail and push alerts as well as a daily watchlist of stocks.
Tim Sykes: From Tim Sykes: The Pennystocking Silver Package
Pennystocking Silver is the premium version that has been upgraded of the Tim’s Alerts program. It costs $149.95 per month, it is the perfect plan for those who are more committed to investing in penny stocks. Pennystocking Silver includes all the basic features of prior plans, which includes swing trading alerts as well as unlimited access to an extensive library of over 7,000 educational videos that are updated every week.
The following video is from “Superman” Paul Scolardi: Superman Alerts
Scolardi who goes under the name “Superman,” is a professional in swing trading with an eye for both small-cap monumental stocks and crazy-accurate marketing forecasts. In the time since he began as a trader, Superman has amassed over $5.5 million in trading earnings. How To Read Penny Stock Charts
The Superman Alerts package is his offering of essential features and alerts on trading geared to those interested. For $147 per month, you’ll gain an access to the day-to-day stock watchlist that is premarket along with the mobile app, the daily market commentary shown in real-time, as well as SMS and e-mail alerts.
From “Superman” Paul Scolardi: Superman Pro
At $247/month, you get additional features and access to a knowledgeable base that is provided by Superman himself, via the Superman Pro package. In addition to the basic features that are included in the Alerts package, Superman Pro gives you weekly video lessonsthat include an ever-growing library of the previous ones. On top of that, you’ll also get access to premium research reports and the IPO as well as earnings tracking tool.
Profit.ly plans and costs
If you’re looking to join the world of online trading and leave your mark on the field, Profit.ly has the right amount of resources to help you going. The platform offers three membership tiers, each designed for traders at different levels. Let’s look at what the three levels are and what they will cost you.
The package called Novice is Profit.ly’s entry-level plan designed especially for people who are brand new to the trading world. As you sign up for this plan, you will be immediately provided with a variety of powerful and vital trading tools, all one of them essential in keeping your hands on what we call a competitive process in and of itself.
Among the list of things you can accomplish using Profit.ly’s Novice program is the capability to check trades and track profits; leading, following and even chatting with other traders; and leaving feedback on today’s trades. It also allows you to be on leaderboards, analyze your trades, sort and filter your trades; and, lastly, view other people’s statistics.
The Novice plan will cost $29.95 per monthly payment. While it may look attractive simply because of the price but there’s a disadvantage. It isn’t possible to create a private profile, which makes your personal information public. If you’re looking to gain access to this feature, you should stay tuned as we introduce to you Profit.ly’s new plan.
The Trader Plan
The Trader package lets users to benefit from a majority of features from the novice plan. This plan allows that you are able to create an individual profile that allows you to share with fellow associate users all your knowledge and intel in trader’s community.
Priced at $49.95/month, Profit.ly’s Trader plan will do what the name implies catering for those looking to harness their trading skills. Although it’s a nice thing however, there’s a crucial feature that is missing. In contrast to the Novice package, you will not be able to view other traders’ stats this might be a drawback for those eager to try this new tier. How To Read Penny Stock Charts
The Professional plan can be described as the highest premium package that Profit.ly offers to experienced traders. It costs $74.95 monthly, which includes an additional 22% discount for billing annually, this tier has it all. You get full, no-holds-barred access to all features from the two previous plans.
Not only do you get to see other users’ stats as well, you’re also offered the option of creating a private profile. These two features are on top of all the benefits that you can use to the maximum extent. If you’re in search of a plan that can serve all the features you need to be an experienced trader, the Pro level is the right choice for you!
Profit.ly’s Other Services
Apart from the trainer tools and leaderboards, Profit.ly offers a number of more services it has to offer. One of them is the online store, which allows users to choose from a wide array of videos designed to inform and provide guidance on the nuances and pitfalls of trading. Each of the offerings listed in this section of the site can be bought immediately for your personal use. These include best-selling products such as”Trading Tickers,” the “Trading Tickers” series from trading professional Tim Grittani, Timothy Sykes’s library of DVDs and streaming-only content about short stocking, penny stocking, and other aspects of trading. There are also clips and scenes of the Annual Pennystocking Conference, and other products by expert traders.
The integrated chat rooms are included in Profit.ly’s range of services and features. You are probably familiar with the concept of the chat room as you can find it throughout social and messaging platforms, as well as some specialty websites that provide live chat support. However, in Profit.ly, it is seen as a hands-on area where experts and member traders can communicate and exchange knowledge in real-time. Each guru has their style when it comes to running their chat room and dealing with the members there. Some may be more laid back and less engaged, while another could be more online and communicative with their students. Think of the chat rooms as Profit.ly’s version of the forum, in essence.
Who is the ideal trader to Profit.ly?
Profit.ly’s diverse range of products and features cater to an array of stock trader types, from novices to experienced professionals. Considering the number of offers it offers, the platform surely has something for every person.
For instance, newbies will enjoy Profit.ly’s library of learning information available on the platform. In addition, they will be provided with videos every week and chat room tips from the in-house experts and their members. They’ll also be able choose from the items on its store online for them to take wherever they may go. You can also get hands-on experiences from trading within the platform, but eventually they’ll be able to realize that the process is a high-stakes game that shouldn’t be treated as an opportunity to make fun of.
For traders who have years of exposure down the road, we consider Profit.ly equally suited to them as those who are just starting. While the newbies may not be as well-equipped with handling trading matters, the pros already understand how it works along with the plethora of risks associated with it. It is ideal to utilize Profit.ly’s variety of options to their maximum advantage to improve their skills in trading. Like beginners, they can learn from the experts and experts and utilize those short tips and tricks along the way.
Profit.ly’s “all-in” approach isn’t limited to novices and semi-experienced traders. Experts who have been verified can also participate in the fun! Trade professionals who are at the same level as Superman as well as Tim Sykes can also use up Profit.ly’s capabilities to showcase their skill to others as a way to help assist them in the ever-changing trading process. How To Read Penny Stock Charts
Profit.ly’s Pros and Cons
- Profit.ly’s diverse capabilities as a ‘one-stop’ platform for trading stocks allows traders across the globe with an abundance of knowledge communications, trading, and communication tools
- You’ll be provided with excellent lessons and advice from the company’s in-house gurus, including video libraries that teach you how to learn and trading in real-time.
- You can be sure of complete transparency through Profit.ly with precise analytics as well as fellow traders who are ready to reach you out whenever something happens
- The leaderboard feature on the platform gives you the opportunity to increase your reputation as a reliable and dependable trader
- Apart from its main features, Profit.ly also gives its customers extra options that can be tailored to their needs, like posting unauthentic trades via photographs
- Profit.ly’s wide array of subscription levels and guru packages are priced at affordable rates There is truly something for every person
- Profit.ly’s bountiful stream of packages and products offered may not be enough for most of its customers
- As traders may opt to make any type of trade, there’s a possibility that some of them may take advantage by selecting the best trades in order to increase the rating – this may be a risk that shouldn’t be simply overlooked
- Profit.ly will not allow refunds, as the premium customers will immediately benefit from the number of services that the platform can offer
The Final Verdict: Is Profit.ly worth it?
If we were able to come up with an answer to this question, it’s yes. But it is important to realize that the platform should not be used as a get-rich-quick scheme. The platform was not always designed to be used in this way. Instead, it is best to keep the ability to think with an open heart. How To Read Penny Stock Charts
What we are referring to”yes” is that it can be a great learning tool. For those who are struggling, they may be able to find Profit.ly’s variety of resources to be helpful as they do their best to avoid losses and be more successful than before. It’s not just the poor traders that can profit from the platform. It will be able to accommodate beginners as well as even experts!
So, if you genuinely care about being more successful in trading and would like to learn from your fellows and gurus along the way, then look no further – Profit.ly could be a good alternative to start.
FAQ How To Read Penny Stock Charts
How can you make use of Profit.ly to publish your trades?
Profit.ly has an entry section for trades under the “My Trade’ category of the dashboard. It allows you to post your trades, either verified or not. You may choose between three options:
- Connecting your account to your brokerage of choice and importing the trades from that directly
- Manually inputting your trades with the spaces provided and details
- Take a photo of your transactions
What can I do to determine whether the trade can be verified or not?
If you import your trade from a reputable brokerage, there is an excellent chance that it is verifiable. This is shown by the blue check mark. If you upload it manually or through pictures, it will be classified as unverified.
The disadvantage of an unauthentic trade is the risk of receiving downvotes from colleagues. Too many downvotes may cause you to show up on the Madoff leaderboard, where people are able to identify who is dishonest in posting trades.
Is the Profit.ly mobile app still available?
As of the moment, Profit.ly is still available to download via the Apple App Store and in the Google Play store. The mobile version of the app is compatible with most functioning tablets and smartphones.
How many people are connected to Profit.ly?
Profit.ly is currently home to over 150,000 investors and traders as they not only are seeking to make the most profit but also help each other grow and learn more about acquiring stock market opportunities left and right.