Profit Prism Review
Are you a penny stock trader looking for an alert service and chatroom dedicated to trading penny stocks? You may have come across Profit Prism. Profit Prism is a trading chat room and alerts site by Jeff Williams, focused on penny stocks. Does this service have what you need? Read our review of Profit Prism and learn if this service is right for you.
About Profit Prism
Profit Prism is a trading chat room and alerts site that specializes in penny stocks. The service is operated by penny stock guru Jeff Williams, who has been trading penny stocks for over a decade. His team of moderators share their trades and alerts throughout the trading day, starting with pre-market watch lists for members to analyze.
The daily routine is a consistent template that has been the staple of successful performance that’s documented with screenshots of Williams’s account. While penny stocks are arguably the riskiest stocks to trade due to their thin liquidity and susceptibility to market impact from momentum traders, Williams manages to select stocks that are seeing exceptional volume and momentum that day.
Small account traders looking for big scores engage in the lively chat room.
There are many penny stock services out there, such as PennyPro, so what sets Profit Prism apart? Let’s take a closer look with this review of Profit Prism.
How Profit Prism Works
Jeff Williams is an intraday and swing trader specializing in trading penny stocks. He will play for nice percentage gains even if the actual price moves are small. Williams uses a combination of news catalysts backed by technical analysis to filter the most active penny stocks to play.
Again, the disciplined morning routine of supplying watch lists every morning with price levels and triggers is worth the monthly membership fee alone.
Having access to the watch lists prepares traders to stay focused and selective without impulse trading anything that hits new highs.
Williams qualifies watch list candidates based on their chart patterns and the news catalyst that can spike volume. He also runs multiple penny stock scanners in the chat room that members can follow to find ideas and set-ups throughout the day.
Momentum based breakouts and breakdowns, as well as reversion trades, are the basic set-ups.
Since Williams engages in both intraday and swing trades, he will use a number of time frames ranging from 1-minute up to the weekly charts. The smaller time frames are used primarily for entry and exit signals with wider time frames used for swing trades with longer holding periods.
Profit Prism Features
Williams has a growing library of training videos and content with updated videos explaining both profitable and losing trades. The video library is accessible to members and is a self-paced way to build a foundation on the methodology.
The numerous testimonials and screenshots of big winners from members can be tempting but have to be taken with a grain of salt. The harsh reality is that penny stock trading can crush accounts quickly when liquidity evaporates getting ‘stuck’ in trades that turn into bag holder positions.
Taking stops is one of the key lessons that must be learned quickly to live to fight another day.
The live trading chat room is heavily populated and active throughout the day. A real-time penny stock scanner with multiple pre-configured scan windows are displayed all day. This enables chat room members to follow along and spot trading candidates to consider they pop up on the scanner.
There can be a lot of noise and hype found in penny stock chat rooms, but the moderators do a fine job of keeping the hype and pumping down in this room. To bypass the noise, members can focus on the Trading Feed window to follow Williams and his mentors as they post their trades detailed with the symbol and price with a time stamp.
The chat room can be a goldmine for trading ideas when taking into consideration the mentor trades, scanner, and member ideas. It goes without saying to be careful taking member comments and ideas too seriously, especially when it comes to hyping up thin penny stocks.
What Type Of Trader Is Profit Prism Best For?
This is a penny stock trading service that caters mostly to traders with smaller accounts, usually newbies and beginners. This is not to say experienced traders can’t use the service, as many do.
These types of stocks should be traded with pure risk capital that traders can afford to lose. The advent of zero-commission trades has driven down the costs of trading penny stocks, which in turn has drawn in more participants, especially with the convenience of mobile fintech broker platforms.
Profit Prism is best suited to experienced traders with a solid foundation of technical analysis skills to properly time precision entries and exits. Newbies need to be aware of the “cattle call” effect on thin penny stocks as well as pump and dump schemes that can leave them bag holders.
Is Profit Prism A Good Value?
Profit Prism is a good value with the chat room pricing of $297-per quarter (three months). The billing is on a recurring basis until the member cancels.
Since it’s assumed that most members are working with small accounts, the pricing accommodates this segment of traders nicely.
- Caters to beginning traders with small accounts
- Watch lists e-mailed every morning with detailed narratives and triggers
- Growing educational content includes webinars, videos, and tutorials
- Chat room is an idea turbine with penny stock scanner, trade alerts, and member feedback and ideas
- Focuses more on high volume momentum plays
- Moderators do a fine job of keeping down hype noise in the chat room
- Too many trade ideas throughout the day can trigger overtrading
- Impulse trading and failing to take stop-losses are too common with penny stocks