Video Transcript: Humbled Trader Review Part 3
This is Part 3 of my review on the Humbled Trader and the question is: is Shay profitable? And the answer is yes. But it may not be for the reason you think it is. In Part 3, I’m going to go over my interaction with Shay (the Humbled Trader), but first i’m going to break down her business model. And the question I have is: how does she make money?
Well in my opinion it is not from trading, it’s from her business. Now last time I looked she had over 500 people on her Discord channel. And the only way that I know to get on there is by paying $135 a month. So that’s $135 x 500. That’s over $67,000 just this month. But how does she do it? How does she get people to sign up and stay subscribed? Well, her business model is what I call “keep on trying and keep on buying”.
Now how is this model executed? Well, there’s three parts to it. It’s categorize, overwhelm, and deflect. So for example, you might have a question or maybe you lost money in a trade. You want to figure out why your system is losing money or you want to be more consistent in day trading. So at that point you fall into the ‘I need help’ category or the ‘I’m not successful yet’ category. In my opinion, this is pretty much every day trader because they keep changing the rules or changing their approach; because it is not possible to create black and white rules and make money day trading.
Now when you have these questions the instructor has the answer. The first thing they do is categorize you as someone that needs help. So then at that point, they can overwhelm you. The instructor says you just need more information and now you’ve been categorized as the one that needs more information. The instructor has the solution. All you need is more information. And they point you to another piece of their content and say ‘if you keep learning eventually you’ll get it right’. Actually the answer to any and all questions is the same. The same answer is always ‘that you need more information’. And in my opinion, there’s not enough information in the world that can make day trading consistently profitable. Now not only have they categorized you and overwhelmed you. At this point, they have also deflected. They have deflected the problem onto you. It is now your fault not theirs. Something is wrong with you, not them.
They pretend that the instructions that they have work, but that’s not the problem because you have not figured out their instructions. Another way they blame you is by being vague with the information. There are no black and white rules to follow, just a bunch of subjective information. Think about it, if you had black and white rules to follow then their trading system could be proven right or wrong. The subjectivity keeps the instructor off the hook so they can blame the student for the failures. And if you’re a student and you don’t understand the categorize, overwhelm, deflect business model, you’ll be trapped into thinking that you are the problem. And the solution is to get more information. And you’ll continue to pay for the subscription because there’s never enough information to satisfy the problem. I mean the instructor will have months and months worth of material to cover. So you can continue to pay them for more subscriptions.
Do they really have that missing information that you need to be a consistent profitable trader? Well, the answer really is simple. The answer would be ‘yes’’, only if they are profitable themselves. My opinion is that it is actually to their advantage that you fail. When you fail, they can keep you on the hook and they know you will fail because they themselves fail. As a student one of two things will happen with the ‘keep on trying keep on buying’ business model. #1, the student will become a profitable trader; or #2, the student figures out that day trading does not work and quits. Now I will ask if any student of Humbled Trader watching this video is a profitable trader. If you are, please come forward by letting me know in the comments section below. If Humbled Trader has taught people how to make money trading, then I should expect to see plenty of successful traders commenting below.
Now instructors using the ‘keep on trying keep on buying’ formula should be proving that they are profitable rather than deflecting the problem back on to their students. They blame the students, telling them to go back and gather more and more information until they figure it out. This is deflecting the problem onto someone else. If the light ever shines on them, they can never be wrong and they continue to promote their subscription model and make money.
Now next I’m going to get into my communications, my direct communications, with Shay. Now within Discord, I was able to ask Shay some questions and here they are.
#1: I asked her do you share your P&L? And she said not regularly but she made a Youtube video on it. She then sent a screenshot of her P&L for that day and it showed some profits of her making around four to five thousand dollars. Now the screenshot was missing one very important element. Can you guess what it was it was missing? A time stamp. This screenshot could have been from any day in the past. I mean, maybe it happened 6 months ago and she made a screenshot for when people would ask for a P&L, and then she would just say that it was from today
The other question–next question was: do you show account swings? You know, I wanted to see her portfolio and daily balance swings. This prevents people from showing P&L and switching back and forth from multiple accounts. It also shows how much risk is actually being taken based on the profit. But maybe there is no profit because I got no response to the question. She did look to categorize me as she called me ‘new’, and suggested that I check out some content. When I probe more about the P&L, she asked why I was asking. And I said I was looking to learn more about her as a trader. She went on to talk about how she takes losses, and risk management is important. Then went on to point me towards more content. She was pushing more and more content on me. Then I asked what is your edge? she responded with the overwhelm aspect of the business model by saying that it seems as though I have not watched her videos. And that if I was serious I would watch the extensive library of videos that are available. And I have to say she was very nice and professional to this point. But then in her next response, she got a little testy as she asked if I had even taken the time to read her prior response at all. And she went on to say her setup and risk management were her edge. And she kind of said that in a manner that she felt it was obvious but it was not obvious to me at all. And then she went on to say that it looks like I’m trying to cherry pick a secret formula and that formula does not exist.
Well first of all, I was just trying to see if she had an edge and if she was profitable. I never asked her for any secret formulas or anything like that. And this was her way of categorizing me into someone that needs more information and I was being funneled right back into her business model. In fact, it was my opinion that she just copied and pasted her response to me. She then went on to say this is a process which is code for I’m placing you in the ‘you need more information’ category and that you need to stay subscribed to get it because it takes a long time. Well then I went on to ask what kind of returns should I expect when I get this down. And she said she can’t make any guarantees; of which I agree. And I don’t expect her to make any. And she went on to say it takes 6 months to a year before you can become profitable. Let’s see $135 x 12 months $1,620. And then she also mentioned she was losing even after a year. Looks like I’m gonna need to keep trying and keep buying when I fail. And she even went on again to categorize me as a new trader putting me in my place and setting up the expectation that this is going to be a long stay here. She also mentioned that she knew based on my questions that I’ve never placed a single day trade before. Again, I believe this was pasted and copied to me. Now if you were ever her student and asked her questions, let me know if these answers sound familiar in the comment section below.
Now she kind of answered my question. She loosely referenced $4,000 – $5,000 a day. She mentioned something like it’s hard to believe others are making $4,000 – $5,000 a day. I know it’s hard to believe because i’ve been trying to find people doing that to come forward and I haven’t found anyone yet. Now I also asked if she had back tested and forward tested her edge. And she said that she does back-testing, and I can learn all that information and how to do that myself within her content. Surprise, surprise. I was funneled back into the content as she continued the overwhelm strategy. At that point, I asked a couple more questions about whether she used objective trading rules and whether or not I need to be in front of my computer all day to execute her trading style. Now I think she got frustrated with m as my questions went unanswered.
Now it seems everything I need to know about day trading is somewhere within her content but she can’t prove her content works because she won’t share her P&L on a consistent basis. One thing I do know is that she is very good at the ‘keep trying keep buying’ business model.
In my next and final video I will go over my review by answering the 16 key questions about Humbled Trader. If you’re interested in the proprietary options course that I put together with black and white rules that creates consistency, I am making it available right now for a limited time for free and just see the link in the description below. And hey, don’t forget to hit that like button, thanks.
LINKS MENTIONED:
Link to my FREE Proprietary Course: https://real-pl.com/landing-page-1/
