Stock trading is an extremely risky game. Some days, you might be reaping the benefits of pleasing and positive numbers. On other days, however, the opposite may happen and it can be extremely difficult to return to where you were your most productive. If you’re immersed in the water it is important to recognize that relying on your instincts and preserving is not always enough.
If you’ve experienced occasional losses and you’re likely to require reliable advice from tested and tried trading experts. You’re also gonna need an important boost from fellow traders from around the world, which is why we’ve identified an option that can help you in your growth within the field. In this review, we’ll take the time to look at Profit.ly A well-respected one-stop social platform for trading!
For those of you who prefer a more visual experience, here is a video review from Mark Gossage’s YouTube channel. Do check out our article below, however, because it has a comprehensive overview of Profit.ly.
Overall Rating: 4.1/5 What Does Penny Stock Mean
User Experience: 4.5/5
Profit.ly is an online trading platform that permits traders of all levels to be informed and accountable, as well as transparent and encouraging each other through its broad range of features and tools such as chat rooms, trade verification as well as an extensive library of educational material.
What exactly is Profit.ly?
Profit.ly is a site for trading which serves as a learning and training platform for traders who are just beginning their journey and as a hub for traders with experience to keep track of their performance through the use of sophisticated analytics tools. Providing users with a wide range of resources to facilitate trade and communication that help traders from all walks of life connect with each other. It offers gurus with an opportunity to invest in the right areas of this platform. Consider it the social media equivalent to Facebook and Reddit, but for experts and traders.
Profit.ly independently checks the performance of trades and then publishes the information from them in the form of leaderboards. The platform for trading is built on trust and transparency. it makes sure that trades are authentic and won’t 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 his colleague Michael Mosseri.
One time , during an appearance in Forbes magazine, Sykes declared that Profit.ly was based “on showing all trades, something that was never previously done.” The idea Sykes said served two objectives: one) creating public track records for all traders, not just the gurus, but also the newsletter writers and students, and 2) making it possible for anyone on the platform to be enlightened by both the wins and losses for the trading industry’s benefit. What Does Penny Stock Mean
How Does It Work?
Profit.ly utilizes a subscription model that lets stock traders benefit from a variety of tools and services that are geared towards achieving achievement. It is possible to create an account there at no cost, however you’re only limited to having the ability to navigate through the leaderboard and follow the actions of non-gurus. If you’re ready to invest your money and see what stocks the experts are trading in real time it is necessary to sign up to one of Profit.ly’s offerings that we’ll go over shortly.
The process of opening an account is simple: Create an account with your experience and expertise, connect to your brokerage account and you have yourself the chance to climb through high on the leaderboard. Profit.ly’s leaders’ board feature as we’ve mentioned earlier, is designed to give its users a look at their performance as a trading group as well as its experts. You’re not just allowed to demonstrate that you’re worthy to the large group of traders. You can also use Profit.ly to purchase from a guru with the confidence that you are confident in their skills and the legitimacy of their claims.
If you are unsure about the idea of divulging information about your account with a brokerage, you may opt to post your trades, whether verified or not, via pictures. Included in Profit.ly are a variety of courses in trading as well as the ability to look at stats in a trader’s profile as well as other ways to interact with your experts in the chatroom, as well as text and e-mail alerts and updates.
Meet Tim Sykes, the founder: Tim Sykes
Timothy Sykes is a well-renowned day trader who has been famously known for his efforts in the penny-stock market. According to Investopedia, a penny stock is a small business’s stock that trades for less than $5 per share. Penny stock trading is a stepping stone for small businesses to transition to a large marketplace as they can access funds from the general public. However, don’t get it wrong – it can also be an extremely risky game, as Sykes will be able to tell you through his many years of expertise.
Beginning at the end of his time in the high schools, Tim Sykes has, since then, made over $6 million of earnings throughout his illustrious career as a trader. When he was 25 years old Tim Sykes had received greater exposure and a larger influence over time when he was a part of the reality show “Wall Street Warriors.” He used the opportunity to develop trading rooms and penny stock themes as well as educational content targeted at those who are new to trading. He also helped establish Profit.ly as a place of openness, and for the community to uplift and compete with each other through the platform.
The Profit.ly Gurus
One of Profit.ly’s sweet inclusions is the variety of learning sources, trade alerts and other useful stuff offered by the company’s internal gurus. The gurus in question refer to the trading experts who have earned significant amounts of profit from their collective years of knowledge. What Does Penny Stock Mean
At its height, Profit.ly had housed up to five gurus, all of them an expert in their field of expertise in the field of trading. Some of the prominent gurus included Connor Bruggermann, Nathan Michaud of Investors Underground, and Triforce among others. At the time of writing, however, only two gurus remain on this platform: the founder and penny stock trader Tim Sykes and veteran smallcap swing trader Paul Scolardi, also known as Superman. In light of that we’ll take a look at the packages each guru offers.
From Tim Sykes: Tim’s Alerts
Sykes provides a basic stock trading service which focuses on penny-priced day trading with Tim’s Alerts. The cost is $74.95 monthly, you will see him focus on the fundamental stock catalysts and use them to forecast the next moves that could occur when making trades.
A purchase on its own from Tim’s Alerts will get you access to the chatroom as well as the mobile app that’s available to iOS and Android devices, as well as text, e-mail, and push alerts; as well as a daily watchlist of stocks.
From Tim Sykes: The Pennystocking Silver Package
Pennystocking Silver is the premium, upgraded version of the Tim’s Alerts package. It costs $149.95 monthly, it is an ideal plan for investors who are invested in penny stock trading. Pennystocking Silver includes all the basic features found in the previous plan, including swing trading alerts as well as unlimited access to an extensive collection of more than 7,000 educational videos and new videos released each week.
From “Superman” Paul Scolardi: Superman Alerts
Scolardi, who goes by the name “Superman,” is a trader who has an eye for tiny-cap massive stocks as well as wildly accurate marketing forecasts. Through the years since the time he started trading, Superman has amassed over $5.5 million in trading profits. What Does Penny Stock Mean
The Superman Alerts package is his offering of essential features and alerts on trading geared towards those who might be interested. For just $147 per month, you’ll have an access to the day-to-day premarket stock watchlist as well as the mobile app, the daily market commentary in real time, and E-mail and SMS alerts.
From “Superman” Paul Scolardi: Superman Pro
For $247 per month, you can enjoy additional features and access to a knowledgeable base of information provided by Superman himself through the Superman Pro package. On top of the essentials that are included in the Alerts plan, Superman Pro gives you weekly video lessons, including an ever-growing library of other previous ones. In addition, you’ll also get the ability to access premium reports on research as well as the IPO as well as earnings tracking tool.
Profit.ly Programs and Costs
If you’re eager to join the world of online trading and make a mark on the market, Profit.ly has the right amount of tools to get you going. The platform has three membership levels that cater to traders at different levels. Let’s look at what the three tiers are and how much they will cost you.
The Novice package is Profit.ly’s basic plan that is designed specifically for people who are brand new to the trading community. As you sign up for this package you’ll be given a slew of robust and essential trading tools, all of which is essential to keep your fingers on what we call a competitive process by itself.
Among the list of things you can do with Profit.ly’s Novice package include the capability to check the results of your trades and track profit and follow-up, leading and even chatting with your fellow traders; and providing feedback on trades today. You can also get on leaderboards, analyze your trades, sort and filter your trades and lastly, look at other’s stats.
The Novice plan will cost $29.95 per month. Although it might look appealing simply because of the price however, there’s a drawback. It isn’t possible to create a private profile, which makes your personal information public. If you’re looking to have the benefit of this service, you should keep an eye on us as we present to you Profit.ly’s new plan.
The Trader package allows you to use a majority of features from the novice plan. In this plan, that you are able to create a private profile for sharing with fellow associates all your insights and intel in this trading group.
The price is $49.95/month, Profit.ly’s Trader plan does what the name suggests caters for those looking to improve their skills in trading. As nice as it seems but there’s one important aspect that’s not included. Unlike the previous Novice package, you will not be able to view the statistics of other traders that could be a problem for those who are eager to try this new tier. What Does Penny Stock Mean
This is by far the highest expensive plan Profit.ly can offer to experienced traders. With $74.95 per month, with a 22% discount for billing annually, this tier has it all. You get full, no-holds-barred access to all the features from the two previous plans.
Not only do you get to see other users’ stats, but you’re also given the opportunity to create your own private profile. These two features are plus the other benefits that you can use to their fullest capacity. If you’re in search of an account that will give all the features you need to be a skilled trader, maybe the Pro plan is for you!
Profit.ly’s Other Services
Apart from the trainer tools and leadersboards Profit.ly provides a variety of other services they offer. One of them is the online store, where customers can select from a variety of videos that are designed to educate and provide guidance on the ins and outs of trading. All of the products featured on this page of the website can be immediately purchased for personal use. Some of these include bestsellers such as the “Trading Tickers” series by trading expert Tim Grittani, Timothy Sykes’s collection of DVDs, streaming-only content related to penny stocking, short stocking, as well as all things trading-related, clips and scenes of The Annual Pennystocking Conference, and other products by expert traders.
The chat rooms that are integrated are also part of Profit.ly’s array of features and services. You are probably familiar with the concept of the chat room since you can find it throughout social and messaging platforms, and also on a few specialty websites that offer live chat support. However, in Profit.ly the chat room is viewed as a hands-on space where experts and their member traders can communicate and exchange knowledge in real-time. Every guru has their own way in operating their chat room and dealing with the listed members there. One might be more laid back and less active, while another might be more active and in touch 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 wide range of products and features cater to a large variety of stock traders, from novices to the most experienced. Considering the number of offers it offers this platform definitely has something for every person.
For instance, newbies can take advantage of Profit.ly’s collection of educational content offered throughout the platform. In addition, they will be provided with videos every week and chat room advice from its in-house gurus and members. Additionally, they can pick from the merchandise available in its online store to carry with them wherever they may go. You can also get hands-on experience trading on the platform, but ultimately they’ll be able to realize that this is a risky game that shouldn’t be treated as an opportunity to make fun of.
For the traders with years of exposure down the line, we see Profit.ly equally suitable to the newcomers. Although the novices might not be as adept at dealing with trading issues, the pros already understand how it works and the plethora of risks that come with it. It is ideal to make use of Profit.ly’s variety of options to their maximum advantage to develop their trading skills. Like novices, they can learn from the experts as well as experts, and take advantage of simple tips and hints throughout the process.
Profit.ly’s ‘all-together’ nature isn’t limited to novices as well as semi-seasoned traders. Verified experts can also join in the enjoyment! Those in the trading industry who are on the same level as Superman or Tim Sykes can also use Profit.ly’s capabilities. Profit.ly’s capabilities to display their expertise to other traders as a way to help guide them through the ever-illustrious trading process. What Does Penny Stock Mean
Profit.ly’s Pros and Cons
- Profit.ly’s diverse capabilities as a ‘one-stop’ stock trading platform allows it to provide traders everywhere with a wealth of education communications, trading, and communication tools
- You’ll receive excellent training and insights from its in-house gurus, including video libraries that teach you how to learn and real-time trading activities
- You’re assured of transparency throughout Profit.ly with accurate analytics and fellow traders ready to call you when something goes wrong.
- The leaderboard feature on the platform gives you the opportunity to increase your reputation as a reliable and dependable trader
- In addition to its primary capabilities, Profit.ly also gives its customers extra options that can be tailored to their individual preferences, for instance, posting unverifiable trades through screenshots
- Profit.ly’s diverse range of packages and subscription levels are priced at affordable rates – there truly is something for every person
- Profit.ly’s bountiful stream of packages and products offered may be too much for a lot of its customers
- Since traders can choose to post any kind of trade, there is the possibility that some of them will profit by picking the most profitable trades to boost their rating This could be a concern that should not be overlooked.
- Profit.ly does not offer refunds, as its premium users will immediately benefit from the many services the platform has to offer
The Final Concluding Question: Is Profit.ly Worth It?
If we could come up with an appropriate answer for this query, 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 intended to be created for this reason. Instead, it is best to keep an open mind. What Does Penny Stock Mean
What we are referring to”yes” is it is a fantastic learning tool. People who are stuck may be able to find Profit.ly’s array of resources useful as they do their best to incur lesser losses and perform better than they did before. Not only poor traders that can profit from the platform. It will be able to accommodate beginners as well as even experts!
So, if you genuinely desire to be more successful in trading and would like to learn from your fellows and gurus throughout the process, then you should look no further than Profit.ly. Profit.ly may be a great alternative to start.
FAQ What Does Penny Stock Mean
What are the best ways to use Profit.ly to post your trades?
Profit.ly offers the option of allowing trade entries within the “My Trade’ category of the dashboard. It lets you post your trades that are verified or otherwise. There are three options:
- Linking your account with your broker of choice and import the trades from that directly
- Manually entering your trades into provided spaces and specifics
- Send a screen shot of your trades
How do I know if the trade is verifiable or not?
If you purchase your trade from a trusted brokerage, there is an excellent chance that it is verifiable. This is evident by the small blue check. If you submit the information manually or via screenshots, it will automatically be assigned as unverified.
The drawback of posting an unverified trade is the possibility of receiving downvotes from colleagues. If you receive too many negative votes, it could result in you appearing at the top of the Madoff leaderboard, which is where the public can detect who’s being fraudulent in posting trades.
Is the Profit.ly mobile application still available?
At the time of writing, Profit.ly is still available to download via the Apple App Store and the Google Play store. The mobile app version is compatible with the majority of operating tablets and smartphones.
How many are on Profit.ly?
Profit.ly is currently home to over 150,000 investors and traders, because they are not just seeking to make the most profit but also assist each other to develop and grow in their ability to take advantage of stock market opportunities both right and left.