The Profitly Free Program allows you to:
- Verify you trades – show proof that you really made the trade – invaluable if you run a paid subscription service. Pretty handy if your friends and family don’t believe that this ‘gambling hobby’ of yours is really making you more in a month than they make in a year at their ‘real job’. The downside this system though is that trades are imported directly from your broker (which is great!) but sometimes the broker platform won’t let you export the trades for whatever reason (this happened to me with Speed Trader). So when it works it works great but it doesn’t always work. Also, one flaw in the system is that the system does allow you to skip trades – thus opening the process up to unscrupulous traders only importing trades that they have huge profits on and ignoring losing trades. Timothy Sykes says that this is likely to be changed in the future to avoid this cherry picking trick.
- Track profits and losses – better than excel, the system even give you all your stats automatically and allows you to track your progress.
- Comment On Trades – You get to see all the other traders who post on twitter etc. Other traders in the community can also rate your trades or mark them as potential BS!
- Get On Leaderboards – pretty cool and a fantastic way to market your coaching or subscription based stock trading business (if you rank highly of course).
- Lead and Follow Traders
- Message Other Traders
I highly recommend that if you are new to trading that you sign up for profit.ly!
Follow Tim Sykes, Nathan Michaud (Investors live) or Super Trades under the free account and see if they might be a good fit for your continued learning experience in trading! Check out my review of my amazing experience following SuperTrades HERE
Additional stock trading resources (books) that I highly recommend: