Profit.ly Review: Keeping Track Of Profits
Profit.ly is an online site that allows traders to track their trading performance and provides advance analytic tools for measure trade performance. It has advanced analytic tools that allow you measure your performance and analyze what trade setups work best for you and why. The best part about this site is it has transparency into what other successful traders are trading and how they are doing it. This gives new traders ideas on how to place trades, what to look for and how to trade the setup as well as how to analyze their own trading data.
Profit.ly was founded by Timothy Sykes, a penny stock trader and entrepreneur, along with co-founder Michael Mosseri who built the platform.
“Profit.ly is focused on showing all trades, something that has never been done before,” Sykes says. “This serves two purposes: creating public track records for gurus, newsletter writers and students and allowing everyone to learn from both the wins and losses of other traders to benefit the entire industry.”
I found Profit.ly to be a useful tool especially for new traders but the only thing that I felt could use improvement is that traders can choose which trades they put on Profit.ly. Meaning they don’t have to post every trade they take, which could then lead to some traders leaving big losses out and boosting their trade results.
Products & Costs
There are few different products you can choose from with the cheapest one being $29.95 per month but includes the ability to verify trades, track profits, get on leaderboards, follow and message other traders and view other traders stats. That’s a pretty good deal for the insight you can gain from following other successful traders.
The next step up is $49.95 per month and includes everything mentioned before except you won’t have access to other trader’s stats but you will have the ability to have a private profile. The last product is the Pro and it’s $74.95 per month. It includes everything mentioned plus you get access to other trader’s stats and you can have a private profile too.
Overall, I found Profit.ly to be a great tool that helps traders analyze their trading habits through their powerful analytic tools and also helps new or struggling traders find different strategies that they can implement in their own trading. The prices aren’t excessive for what you get in return and the product was easy to use. I recommend checking them out if you haven’t already and if you would like more information you can check out their site via this link.
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