Profit.ly is an investing service commonly discussed in the chat room services world. So many reviews are either exuberantly positive, or extremely negative to the point of accusing the site to be full of fraudsters.
So which are they?
In this Profit.ly review we will break down the gurus, chat room, educational content, and pricing to give you an honest look into the service.
Value & Cost
The Backstory of Profit.ly and what is is now
Tim Sykes began his love affair with trading and penny stocks after surgery cut short a promising tennis career at a young age. While attending university, Tim famously began trading using bar mitzvah money he had been given by his parents. He began trading during the internet bubble by purchasing up tech startups, and once he saw the market turn, began to short the same companies he had previously invested in. By the time he graduated, Tim claims to have turned his original $12,000 dollars into $1,650,000, a massive 13000 % increase.
Sykes then started an ill fated hedge fund called Cilantro Fund Management. After having initial success, Tim got caught in an illiquid stock that began the funds collapse. The end of this fund was the beginning of Profit.ly.
Tim was annoyed at the time with the number of self proclaimed penny stock experts making millions of dollars, but with no published trades or transparency to back up their claims. Sykes created Profit.ly to open the curtains on his trades for everyone to see. Sykes has since created marketing videos consisting of mansion tours, showing off his Lamborghini, and more recently showing charity donations, all in an effort to drive traffic to his service. But is Profit.ly service all marketing and gimmicks or is it worth it? Read on to find out.
What Is The Profit.ly System?
Profit.ly consists of a team of several ‘Gurus’ who each host their own subscription based service. The service consists of a chatroom, alert system, and varying educational resources. They all also create stock watch lists and trade recap videos.
The website adamantly professes the importance of transparency on almost every page. Profit.ly promises live tracking of its Guru’s trades (and anyone who chooses to make theirs public), and keeps an updated profit number in percentage and dollars displayed for members.
In addition to the Guru’s Profit.ly also offers a trade tracking system. This system is like your own brokers trade history on steroids. You can make comments on your trades to be saved for future analysis, sort trades by type, track your own profits, and get on the Profit.ly leaderboards to see how you stack up against other members. This is a valuable tool and can expedite trade tracking compared to exporting to spreadsheets or writing them down manually.
The Gurus: Profit.ly’s Trading Team:
The Profit.ly trading team currently consists of three different traders.
- Timothy Sykes
- Paul Scholardi aka “Superman”
- Matthew Owens aka “Triforce”
Every Guru has at least two subscription options. They all tend to focus on smaller cap stocks, but each has his own unique alerts and algorithms used to define their trades. Transparency is a big theme with the Profit.ly team as well. All trades made by the Gurus, good or bad will be displayed in the members area for profit tracking. After Tim’s failed hedge fund, his quest was to demystify wall street and run a service that wasn't all smoke and mirrors. The trade tracker does just that, not just for Tim but for all Gurus on his site.
Tim is the original Profit.ly Guru. Boasting over 4 million in profits for himself and 16 million for his students, He has been teaching and advising members on trades for the better part of the last decade. As has been made clear by Investors Play and Tim all over his site, he focuses on penny stocks. The main driver of Tim’s trades are trading to capture run ups / downs associated with press releases. He has several other indicators / strategies but the former is definitely his preferred style of trading.
Tim has two service options. His first is ‘Tim’s Alerts’ where you get chat room access, a daily stock watch list, real time alerts, and access to phone apps. The second subscription option usually runs for double the ‘Tim’s Alerts’ and is called ‘Pennystocking Silver’. This subscription adds on a full video lesson library containing 4000 videos, as well as weekly video lessons.
'Superman' Paul Scholardi
Paul Scholardi claims to have over $3.4 million in profits life time. Paul trades stocks from domestic and international markets using his swing trading style to catch momentum plays. He also specializes in IPO’s and has an IPO tracker that is involved with one of his subscriptions. His first subscription called ‘Superman Alerts’ gives you access to his chat room, daily watch list, and real time alerts. By upgrading to his ‘Superman Pro’ service you also get his video lesson library, IPO and Earnings tracker, and his premium research reports.
'Triforce Trader' Matthew Owens
Matthew Owens is a self described educator who uses several algorithms he personally created to help identify trades. With over $1.4 million in lifetime profits, he has two chat room options as well as a DVD / Service bundle. His first subscription called ‘Triforce Trader’ comes with access to his chat room, daily watch lists and commentary, multiple trade ideas and access to his phone app. His upgraded service called ‘Triforce Platinum’ adds on his proprietary indicators. His final option which is a yearly bundle gives you the Triforce Platinum options as well as webinars and his Trading Around Equilibrium educational DVD.
What Are The Profit.ly Chat rooms Like?
Profit.ly has a well laid out chat room feature available to their subscribers. Members can only gain chat room access to whichever Guru they are subscribed to. Each Guru has two chat rooms available, one for trading, and a dedicated off topic chat room.
Members are shown above in blue, with Guru’s showing up in red (the color used for Guru’s changed from time to time, but they are always easy to pick out among members). This is a nice, simple way to distinguish your Guru in the chat to filter out the noise of other members if need be.
Any trades executed by the Guru’s will not only be discussed in the chat rooms, but will be added to the trade tracker for full transparency and profit tracking.
What Courses and Educational Content Does Profit.ly Provide?
Profit.ly has a large library of both books and DVDs available. The majority of these were created by Timothy Sykes. A few such as Quant Trading 101 and Trading Around Equilibrium were created by Triforce Trader Matthew Owens.
There are also a few collaboration videos where Sykes brings in subject matter experts on various sectors and creates a market analysis and trading video with them on that sector. One such example of this is a collaborative video created by Biorunup.com owners Mark Messier and Mark Havrilla that covers everything about the biotech sector in a 12 hour video.
If you apply for and are approved for Tim Sykes ‘Millionaire Challenge’ program, you will receive access to all his educational content, homework assignments, and the Wealth Affiliates community. Superman and Triforce trader purportedly offer mentor ship programs, and with Superman's subscription you gain access to his video training library, but what all is entailed in that is a bit vague. Triforce has also written several trading courses, but does not offer them in bundles similar to Tim’s Millionaire Challenge at the time this article was written.
Can You Trust Timothy Sykes?
One thing that has to be addressed it Timothy Sykes online persona and reputation. When he originally began Profit.ly his goal was to expose other penny stock pumpers as scam artists. Following that, he found that having an abrasive personality and flaunting his riches actually drove traffic to his websites. In the past he has been seen doing his daily trades from $3000 dollar hotel rooms, on lavish beaches, or doing videos about his Lamborghini.
It seems that getting older has also made him wiser and perhaps more humble, as he no longer creates pure attention grab videos. He now creates blog posts about donating a day's profit to a certain charity or youtube videos on his charitable donations. He also seems to have developed a genuine desire to help his members and community attain their financial goals with his trading service.
The Investors Play Bottom Line
It isn’t easy to tell you which Guru to choose from the Profit.ly team. At first glance you may be tempted to follow Timothy Sykes, as he is the owner of the site and has the highest trading profits. Keep in mind though that the other Guru’s on the site have not been tracking trades with Profit.ly for as long and may have created more value in a shorter length of time.
At the end of the day I think it is important to follow the Guru who aligns most with your trading interests and styles. Timothy Sykes is a quick hit in and out of penny stocks based off news releases, earnings releases, and momentum trades. Triforce Trader also falls into the day trading category, but executes his trades more so based on custom technical indicators he has created. Superman is not as heavy a day trader, but instead focuses on swing trading. There is a style for every trader and I think you need to choose the Guru who most aligns with your trading personal trading philosophy.
We always advise people to subscribe to services and begin with a paper trading account. With this account follow as many advisers as you can, executing trades you normally would. Then, either by profit or finding a trader you identify with, pare down your list and focus in on one or two traders. Follow their every move, and watch or read any and all educational content they provide. Then and only then start bringing actual capital in on your trades.