Every beginning investor starts off with the exact same feeling. People get lost looking at the stock market, trying to pick out stocks they think will outperform the index. Stock picking and trading strategies are highly prized skills in the world of stocks. That is why it is only natural that a beginner may struggle.
However, there is a solution for these growing pains. The internet has enabled experienced and successful traders to share their knowledge with a wide audience base almost effortlessly. People can now pay a simple subscription fee every month, in order to get access to the experience and wisdom of a seasoned professional.
In this review, we will be taking a look at just such a service. Profitly promises to help up-and-coming traders get their beatings on the stock market. With the guidance of veteran trader Timothy Sykes, you too can make sound and profitable trades at the press of a button. Let’s see how this system works.
What exactly is Profitly?
The easiest way to define Profitly is to say that it is a multifaceted trading ecosystem. Its purpose is to help teach beginning investors how to maximize their profits when doing risky trades. It covers currencies as well as commodities, which have recently been all the rage in the trading world.
Profitly was created by Michael Mosseri and Timothy Sykes. Timothy’s story is quite compelling, and that may be part of the reason why he has such a big fan base. Namely, when he started off as an investor, Timothy made a string of really poor trades. That is why he made terrible losses, and almost went bankrupt.
However, he pulled himself up, having learned valuable lessons from his failures. He is now a millionaire, and he is adamant about passing on his experience to people in a similar situation.
Profitly has been in operation for a few years already. In a relatively short time, it has accumulated over 136k subscribers. The reason for its success is the fact that premium subscribers can get valuable inside scoops when it comes to trading. These scoops are usually illustrated with charts and graphs, so you can follow along.
As an example, Profitly might send you a graph that follows the relative values of the British Pound and the US Dollar. They would use it to make predictions as to the future changes in value, and how you can profit off of them.
In addition to that, you will also get important news items that can affect the price. For instance, when the Dollar is concerned, you might get news about a certain policy the Fed is planning. They will analyze this news to tell you how it will affect the price, and what you can do to make the most of the changes. These insights use proven tools such as technical analysis, historical trends, and even semantic analysis.
If you want to see all this for yourself, we have good news. They offer a free account as a demo. That allows you to try out the service first, without risking your own money. Once you are confident that you have learned the basics, you can start trading for real.
The Profitly Team
Profitly has several trading ‘gurus’ working on the platform. They all have their strengths and weaknesses, and an area of expertise. Let’s take a look at the three most important gurus on the site, just as an illustration.
We have already gone through Timothy’s story. He took the long road toward becoming a millionaire, and he is sharing his experiences with traders all over the world. He specializes in penny stocks, as that is how he made his millions. Profitly estimates that his students have cumulatively made more than $16 million!
His students know him as Superman, and he has proven he is worth the title over and over again. He specializes in swing trading, which maximizes potential profits. His alerts are highly prized in the Profitly community. That is because he has a knack for predicting momentum changes ahead of other market actors.
Known by his username, Triforce, this guru focuses on educating subscribers on the markets. If you are a beginner, this is the guru you’ll want to pay attention to first. Once you’ve mastered the basics, you can check out Timothy Sykes and Superman to make actual money.
There are many other users and gurus on the site as well. You may see their names on the site’s leaderboard. We consider this a great addition to the overall functionality of the site. The leaderboard lists the day’s best trades, and you can learn a lot from it.
It is usually the gurus themselves who get the top spots. However, sometimes the student becomes the master, so a member of the community will get to see their name on the list as well.
The Profitly platform is quite complex, and explaining all of the intricacies is beyond the scope of this review. We will, however, offer a few basic pieces of information on the way the subscription system works.
There are two different subscription systems on the platform. The first one is subdivided into four tiers, depending on the type of access you get with each. The first one is the free account, which gains you access to the site, and little else. Your access to the chatrooms is limited, and you are inundated with pop-up ads.
There are three tiers of paid membership, Novice, Trader, and Pro. Each of these tiers grants you certain privileges, in addition to all of the privileges included with the previous tiers. You should opt for these once you’ve gotten the hang of the site.
The second subscription system is the Guru package. This allows you to get access to one of the site’s gurus, and you have to pay for access to each of them individually. That is why you have to be sure about what you want to learn before you commit.
Profitly is a great learning tool for the novice investor. But it is also more than that. If you follow the instructions of the gurus, you can make serious money, perhaps even make a decent living. We can say with certainty that you will be able to make more than the cost of the monthly subscription.That means you really have nothing to lose!