Video Transcript: Humbled Trader Review Part 4
This is Part 4, the conclusion of my review on Humbled Trader. In this video, I will answer my 16 key review questions, but first I’m going to go over 2 separate discrepancies about the Humbled Trader that were brought to my attention by a couple of subscribers in the comments sections of a couple of my videos.
The first discrepancy was brought to my attention by Reid he said, and i’m quoting,
“she has a video where she promotes WeBull and talks about how much she likes the platform and includes a link to her sign-up referral so she can collect commissions – despite her being a Canadian resident (you literally can’t open a live WeBull account in Canada, it’s not available here). She doesn’t mention this at all in the video however. Why would she promote a platform that she hasn’t even used for real trading? Answer: to grab easy money.”
That was the quote. Let’s take a deeper look into this. First, I tried to verify that she is in fact in Canada and Canadian and it could not actually find anywhere specific that ties her to Canada. This is kind of an odd thing. I would think it would be pretty simple to just take a couple minutes and find out where she’s from. I believe she purposely keeps her location hard to find and she may be doing this for privacy reasons or maybe for business reasons. And I did have a few sources look around and I’m about 98% confident she is living in Canada and she’s a Canadian citizen.
Now, next I called WeBull, and I was on hold for about 45 minutes, and I verified that a Canadian citizen is not eligible to open an account at WeBull. So now let’s take a look at the Humbled Trader Youtube channel. Let me kind of point something out here. Okay I’m here at the Humbled Trader Youtube channel. Let’s just look at the last video that was released. It was this one here. Let’s go into the description–you know–you can see that she’s Canadian right here with the little Canadian thing. And she likes Cobra but also she promotes WeBull right as an affiliate. And then she says as a an affiliate disclosure, I’m only recommending products and services I truly believe in and use myself. If she would have said or use myself that would that would be different. And basically she’s saying here that she uses them, but she doesn’t use WeBull, but she does promote it.
So maybe she used to live in the United States and then she moved back and she has access to WeBull. I don’t really know the answer to that; that could be. I think that she needs to change this because it’s a little bit, but i’m just going to say it’s not professional, to promote something and then say you only promote something that you use yourself but not use it yourself. I don’t think that’s a professional thing to do, and maybe she’ll change that once she ever sees this video; I don’t know if she will. But I would definitely say that this is a discrepancy when it comes to Humbled Trader.
Next the second discrepancy was brought up by a person named Dakota M. And he said, and I quote:
“Why would she make an account just for meme stocks? My opinion anyone that claims to be a professional, has a legit strategy, and a big following, you would stay away from the wsb [wallstreet bets] fomo craze and teach your following to stick to their strategy and trade plans, that make replicable gains day in and day out. If you have a legit strategy trading real stocks, you don’t care about shiny things. To me that just reeks of dumb money.”
So that was the end of the quote there. In my personal opinion, this is a legitimate concern. If an instructor is going off into an area that they’re not an expert in, then what else are they willing to do? I mean does it mean their strategy is not working? I mean why risk capital outside of your expertise? Let’s say that she did play with the wallstreet bets idea. Why would she promote that to her students. I would make sure that I’m an expert before I start promoting things to others. And I would call this discrepancy number 2 with Humbled Trader.
Okay, let’s get into my 16 review questions. Question #1, which I asked Shay, “can you share your portfolio P&L and your portfolio volatility? Well, she shared her P&L for January, February 2021 in that video, and in that same video she mentioned that she would continue to share P&L moving forward. So it’s mid to late June right now and there’s not been any further public P&L videos. And she also made that P&L video her featured video on her channel verifying the importance of showing P&L in order to prove credibility. I believe that if she made money trading in March, April, or May of 2021, she would have made another P&L video. When she did show P&L, there was no reference to the daily account P&L swings. She also sent me a screenshot of one day’s P&L and referred to it as today’s P&L or yesterday’s P&L, but it was not time stamped. My conclusion is that she is not a profitable trader, because if she was she would be showing her P&L.
Question #2, what is your edge? I asked this of her specifically and she said her edge was setups and risk management. I asked for the specific videos that went over her edge and she sent me to a couple videos that I had already watched in the get started section. Now these videos had nothing specific, nothing actionable, to follow as far as specific rules. I was led down the subjectivity ‘keep on trying keep on buying’ business model when I asked her for specifics on her edge. My conclusion is that she has no edge.
#3, I asked or I tried to find out: is the course proprietary? Now after going through a small portion of the course and asking Shay to narrow down where I could find her edge. I would expect to see the edge described in detail or in a way that I could follow. The edge was not something I could implement; at least not with any consistency. And if there are no rules to follow then, there’s nothing proprietary. And I believe there is nothing here that I couldn’t find elsewhere on youtube for free. Now obviously, the way the materials organize is different than anywhere else, but I would not call that proprietary. Is the course proprietary? In my opinion, no.
#4, what kind of returns should I expect? The question was answered by Shay in a very elusive way by saying when she started it was hard to believe that people were making $4,000 – $5,000 a day. She also was very clear that she could not guarantee anything. So I really didn’t get a clear answer.
$5, is the system directional or–you know–dependent on picking a direction? Well the system is 100% directional.
#6, do you recommend buying options or buying option premium or placing low probability trades? And this question does not really apply as the Humbled Trader only looks to trade stocks. Although, there is an area in her Discord about trading options and I think it’s rather obvious I would stay away from options when you’re a student of Humbled Trader. I mean, do I really need to say that.
Okay $7, have you back-tested and forward-tested the system and what are the results and did those results include commissions and slippage? Well, Shay did say that she back-tested her system herself and that was one of the last things she said in her final response to me. I could not get any further details as she stopped responding to my questions, and I don’t know her back-test results, or even if she actually back-tested anything. The answer to the question, as far as are there any back tests the answer is no, or they’re not available.
Okay #8, do you trade with objective rules and what is your trade plan? So my goal in this review was to find objective rules. I went through around 4 to 5 hours of content. I asked Shay specifically for the edge which would need to be objective to have any value, because without objectivity there’s no consistency. I did not find any significant objective rules. I believe that is actually the specific business model. Specifically avoiding objective rules on purpose. So the answer there is no. There’s not any significant objective trading rules here.
#9, does your trade plan take into account commissions in slippage? Well without back-tests or objective rules, I don’t even think there’s a real trade plan. I mean this makes this question pretty much irrelevant.
#10, what is the highest margin requirement that your trade plan will allow? This is normally not an issue with day trading unless the PDT rule comes into play. And to be honest I forgot the specifics of the PDT rule, because I mainly deal with options. And if anyone has any insight on how the Humbled Trader addresses the PDT rule please let others know by commenting below and helping them out.
#11, do you show real trade execution with real money? Well in Discord, Shay does give her pre-market key levels based on technical analysis. Of course she says you can always lose money trading, and I don’t see her trading her own account anywhere. There’s a lot of information in Discord and I couldn’t find where she showed real money executed trades. So the answer there is no. Now maybe there is somewhere in there and I couldn’t find them.
#12, what is the lowest drawdown you occurred in August 2015, February 2018, March 2020, Q4 2018? What about the first six months of 2015 or a bull market like 2017? In other words–you know– how did you do during different market types? Well, I really never got to ask those questions because my communication was cut off. And I have no way of knowing the answer. If O had a lot of followers and I did well during a crash for example, I would show my P&L. Now hers is not available for these un-normal time frames. I mean the only thing that was there was January, February of 2021. So how did she do during these different types of markets? I don’t know. I don’t think anybody knows.
Okay #13, what is your money management plan or how much capital do you allocate per trade and percentage terms? Now I believe she answers this question pretty well within our videos. And this is actually the first positive answer to any of the review questions was about a little bit about money management that she does talk about.
Okay #14, what underlyings do you trade? Are they tax advantaged? Well, this service trades single name equities, mainly, and I couldn’t find where there were any tax advantaged trading strategies.
Okay #15, do I need to be in front of the computer most or all of the day to trade the system? And I asked Shay this question and it went unanswered. And based on the data that I’ve collected, I would say the answer is yes. You will be in front of your computer all day if you want to try and make money day trading.
#16, do you share all the trades made in your account as you trade them? Well neither shay nor the moderators share their account information within the service or Discord that I could find. So the answer would be no.
Now this wraps up my review on Humbled Trader. If you’re interested in a trading system with objective rules where there’s an edge being applied, I’m currently making my course available for free just click in the link below to sign up.
Link to my FREE Proprietary Course: https://www.youtube.com/watch?v=cuZqCmkmrDQ&t=1s