Karl Domm:
Millions of Americans and people around the world are being taken advantage of. If you use social media, including YouTube, and you’re involved in the stock market. Then you’re in danger of falling victim to this phenomenon. Armed with the information I’m going to share, you will be able to avoid this financial pitfall.
For those of you who don’t know, my name is Karl Domm; and I have a Youtube channel called Real P&L. I’ve been trading stocks and options online since the mid to early 1990s. I know I don’t look like a very passionate guy, but using options to manage my money is my passion. I called my channel Real P&L because I have two options portfolios that I manage, and I share my Real P&L on a monthly basis on my Youtube channel. I’ve also been involved in several businesses over the last 30 years. And I’m very passionate about how business models work.
When I started watching financial videos on YouTube, I noticed something very interesting. I noticed that the advertisements seemed to be way over-the-top and crazy in their promises. So I decided to look into some of these financial Gurus on YouTube. In this video are the most important things that I found out about these financial Gurus. I really hope this information will be helpful, and I really believe that it’s going to help you keep some of the money that’s in your pocket.
Let’s look at some facts. Fact, there are hundreds if not thousands of get-rich-quick stock and options trading Gurus on YouTube looking to separate you from your money. And here’s another fact, these Gurus are making millions of dollars from their students not from trading with their own money.
Audio from a video playing:
Jason Bond: “Now I’ve committed all of my rest of my year to coaching you guys and gals. I’m doing this. I’m not even trading stocks anymore.
Karl Domm:
And taking advice from financial Gurus has cost millions in losses. There are countless victims. And here is another fact that they know that marketing is way more important than the quality of their content. I see it almost every time, especially with the options Gurus, the fi-rus, find well-known generic information, packaged it up like it’s some big secret, and sell it for a lot of money because they spend their time and resources on providing brilliant marketing.
Now I’m gonna go over the 10 steps used in a financial Guru marketing campaign specifically designed to separate you from your money. As I go through this, think about whether or not you’ve heard of any of these things; hopefully you have not found yourself slipping and sliding around in this funnel.
Marketing step #1: Sign up for my free training, my free webinar, my free class, my free event.
Audio from a video playing (multiple speakers):
“What he’ll share with you is absolutely free… and for a limited time I’m holding a free webinar to teach you these three easy strategies… this is my best-selling course normally it’s $49, but today I want to give it to you absolutely free…”
Karl Domm:
Step #2: They sell the dream. They make statements like: be financially free; what would it be like to quit your job; be profitable in days; it is possible to have a six to seven figure income without a job; travel the world.
Audio from a video playing (multiple speakers):
“I want to next time. It’s awesome and you can totally do it… What car would you be driving? Where would you live? How much traveling would you be doing?.. Could stay where you’re at, quit your job, buy a new home, go on vacation or whatever you want to do…”
Karl Domm:
And here is Step #3 of how they separate you from your money. They keep the free training very lengthy. They want you there for a long time like a car dealership. You know how if you’re there longer, the more time you spend with them, the more you trust them, and then the higher price they can get from you.
Audio from a video playing (multiple speakers):
“So over the next 60 minutes what you’re going to actually learn… But every week you’re profitable. Every month you’re profitable… Thank you everybody tonight. When a little bit longer than an hour but I hope it was a great night everybody.”
Karl Domm:
Next come Step #4. Now it’s time for their relatable backstory. tThey talked about how they were just like you. How they were working 60 hours a week and hated it. They were nothing special. How they failed all the time.
Audio from a video playing (multiple speakers):
“I didn’t get to go to college to make money to help there. I was working a dead-end job for my uncle running a dry cleaners making $400 a week working from 7:00 a.m. to 7:00 p.m. Monday to Saturday…”
“I struggled for eight years to get consistent, okay. I already talked about those three accounts that I blew up. I almost threw in the towel.”
“I was a school teacher for 10 years. I was buried in debt. We had no net worth. We had a negative net worth. I owed people a quarter million dollars; mortgage, car loans, personal loans, student loans, credit cards, you name it. I had debt through the wazoo and I wanted to change that.”
Karl Domm:
Step #5. Now it’s time to convince you that it takes hard work to succeed. The financial Gurus make a bunch of statements about how success takes a lot of dedication, a lot of determination, a lot of hard work, because in the end they want you to blame yourself when their course does not deliver as promised.
Audio from a video playing (multiple speakers):
“All right so if you’re here to get lucky then this just isn’t for you. It’s gonna take hard work.”
“If you think that this is just gonna be all easy and money is gonna rain down from heaven, please do not watch this webinar.”
Karl Domm:
Next comes the hard sale. A bunch of testimonials about their students, and how they’ve quit their job and they make six and seven-figure incomes, or how they’ve made thousands of dollars in a single trade. Have you ever seen this pitch? It’s a formula.
Audio from a video playing (multiple speakers):
“Christopher made a 171% of $17,000. And this one, Brian, says he made over $36,000 in one day.”
“Tim Grittani in the first three years he turned $1,500 into $1,000,000.”
“As an alliance member you are special. And I’ll make sure you get the special attention you need to become wildly successful.”
Karl Domm:
Next Step #7. They make it sound easy,; no experience needed; no special skills required; anyone can do this.
Audio from a video playing (multiple speakers):
“The best part, it wasn’t that hard, seriously. I stick to a set of simple trading patterns that have allowed me to pull in profit…”
“Definitely can do this. You don’t need any kind of special aptitude, prior experience, or even much money to make this powerful wealth creation trick work for you.”
“Yes, you can do it. If you believe that you can learn to make a thousand or five thousand consistently. Sooner or later, that’s gonna cross a million and get it out of your head like it stops at a million.”
Karl Domm:
In Step #8, they can’t make it sound too good so they always say something like it’s not a get-rich-quick scheme.
Audio from a video playing (multiple speakers):
“I’m not here to sell you some gimmick.”
“I’m not here to show you how to get lucky on a trade here and there, and this isn’t a get-rich-quick strategy.”
Karl Domm:
And Step #9 used to separate you from your money. They create scarcity. They say you better join now or the price will go up in the future. Or I’m limiting my students because I only have so much time. It makes you feel like you better do it now or you’re gonna miss out.
Audio from a video playing (multiple speakers):
“There is one catch. Enrollment will only be open for a very brief period, because once we hit our limit of new members this offer will shut down.”
“After this, we cannot guarantee the price. It is tonight only…”
“You need to act quickly. I can only extend this deal to the next 100 people, because it is so lucrative.”
Karl Domm:
Now it’s time for Step #10. The final step and if you remember Step $5 about how they convince you that this is really hard work and it’s not easy to succeed. This is how they’re setting you up for this step. Which comes after you bought the course. It’s time for the upsell. You’ve realized you’ve bought part of the course and it’s not working, so they sell the dream again promising big rewards if you just upgrade to a higher level, a higher course, or a live event, or they promise you more personal access to them; to glean their knowledge and make it easier and faster for you to succeed.
If you ever hear things like: make 30% a month trading stocks; day trade like a pro; the best trading strategy; and I’m known as the top trader in the world; or people always ask me how to get rich or people always ask me how I trade because I’m the expert; or these three simple chart patterns turn me into a millionaire well; or I have taught people how to trade and it changed their lives and I’m going to reveal the most important trading secrets. If you ever hear statements like these and you find yourself listening to one of the 10 marketing steps that financial Gurus use to separate you from your money, you can test the Guru for authenticity with one simple question. And I’ve asked this question and seen them squirm and hide. And I found that 99% of the stock and options Gurus on YouTube, in my opinion, are fake. How do you know if you’re looking at a get-rich-quick scheme? Well, it is simple. You ask the Guru if you can see their real P&L. Can you see their total portfolio either with videos over time? Like on a monthly basis where you can see their daily results, or their brokerage statements or tax returns over time. If they’re not willing to share their P&L, then they cannot prove their trading system is effective; end of story.
So what happens when you ask these Gurus for their real P&L, which I’ve done in the comment section of a lot of their YouTube videos. Most of the responses look like this, but I asked for their P&L. I’ve done this with Ricky Gutierrez, John Carter, Options Alpha, and a few others. You can see here that I asked for the real P&L and I got no response. Or sometimes I get a response. For example, and this one here, where the lawyer and the tax accountant advised them not to put their financial information online. On this, I said well why don’t you just go ahead and open up a smaller account, a separate account, and you can show your P&L with a smaller account. As you can see, this guy got a little annoyed and said, “instead of you coming in and respecting the platform, the industry, and the game,” he mentioned that this whole thing is a game to him.
And I said you’re right I don’t respect the game. I want to change the game from traitors on YouTube acting like they’re credible when they’re not. Eventually this guy went on the attack in order to avoid the real subject. In this instance, this guy talked about how he had successful trades and he was making $1,000 a day here and $1,000 a day there. But when I went through and realized–wait a minute–you’re only making $1,000 on every other Tuesday or on a Monday and then Friday. But what happened to those days in-between? So I asked him. I missed your recap on August 29th, August 30th, September 2nd, 3rd, and 4th. Because those days he didn’t show how he made thousands of dollars. And his comment back was I did not trade some of those days. Well, I guess you just don’t show when you have losses. You only show your gains. I asked this guy for his P&L and he took the conversation private and he said go ahead and email me and then he didn’t respond to my email. So I had an email in like three or four times, and finally he came out with a similar response to one of the other guys, which is that there’s some type of regulation that prevents me from showing my P&L. Which is not true, by the way, there are no regulations to that effect.
I asked this guy do you ever show your account statements or a real P&L. He just straight out said no. Okay, well at least he’s honest about that. He is selling a course though. All these guys are selling courses. I asked this guy do you ever show your brokerage statements or P&L.
And here’s one of the ones that they’re starting to kind of move towards–a lot of them are starting to catch on. And here’s what they say: trainers livestream their real trades to members every day including visibility and their trading accounts full visibility helps us teach traders our strategic thinking. In other words, if you’re willing to sign up behind my pay wall and give me money, you’ll obviously see the real P&L. That I cannot prove at this moment, but I may go behind some of the paywalls and see what’s happening. I really don’t think they show their real P&L behind the paywall. In fact, I am behind a paywall right now and in a couple of weeks I’ll be done with the program and I will report what I find. So subscribe to the channel so you don’t miss that upcoming video behind the paywall.
And financial Gurus can create massive financial losses and there are numerous examples of that. For example here are some of the comments of this video. One guy lost $100,000 over two years. This guy $25,000 loser; 95% of his net worth lost. A $15,000 loss and done with day trading. $35,000 loss and his uncle lost $200,000. One guy lost $180,000 another one gave up after three years of losing. I mean these things just keep going on and on. I mean, there are more and more people that have taken losses that are not on this video or not talking about it, because they’re embarrassed. Here’s another person. I lost $120,000. I lost $250,000 in one night. Here’s a lady who said I lost all my savings and I’m sad. Someone else lost 93% of their net worth in the last week. Someone else lost $120,000; lost some $300,000. Another guy lost $30,000 day trading in two weeks. Another guy lost $20,000 to $40,000 on more than one occasion.
So you can see there real people out there being affected and financial Gurus can create massive financial losses. I hope this video has provided enough proof that a vast majority of the stock and options trading Gurus on YouTube are just not credible. And I think you would agree that it’s not a good idea to take advice from one of the financial Gurus on YouTube. And I personally would not give any of my hard-earned money to all these Gurus making these outlandish crazy promises for a stock or options trading course unless they show me their real P&L, and I hope you agree.
