Daniel Kertcher/Trading Pursuits - Serious or Scam?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Dear prawn_86, cbc1, zac, ftw129, village idiot and Garpal Gumnut,

As cbc1 so aptly said: Here we go again ...

prawn_86: Let's get one thing straight: I don't have to prove a thing. I don't show my broker's statement to anyone, not even to my best friends.

If I did, I would only be accused of bragging and be told that nobody is interested in the actual amounts of money I make.

After all, this thread is about Daniel Kertcher - Serious or Scam?

My opinion is that Daniel is not a scam and that the service he provides is a valuable one and worth every cent.

zac: Your posts make the most sense to me as it is clear that you fully understand what we are talking about here. That $600 strike naked call on AAPL with AAPL trading sidewise at $440 - $460 with less than 3 weeks to go till expiry would be as close to a riskless trade as it is possible to be trading naked calls.

ftw129: I have not provided Daniel with a testimonial either simply because I think that testimonials are overrated. Testimonials did not convince me to take Daniel's course. It was after I had attended one of his two hour information meetings that I decided to learn about trading from him.

YES, these testimonials exist on Daniel's website, but you may have to read between the lines.

village idiot: I did not call you names. Whatever made you say that?

Payoff Profile? What the heck is that? I just look at my broker's statement and it tells me immediately how profitable my trades have been.

NO, I certainly control those shares, they provide cover for the calls I sold and I can sell them or buy them back anytime I want to. If that is not control, then I don't know what is.

Garpal Gumnut: "Retrospective trade tales have little kudos on this forum" I totally agree.

That is why I haven't given details about my previous trades. Even a broker's statement can be photoshopped and doctored up.

Copyright laws and confidentiality agreements prevent me from disclosing Daniel's next trades. All I can say is that the March trades are progressing nicely.

However, there is nothing to prevent me from showing you one of the trades I picked myself without help from anyone.

This morning (Saturday, February 23) at 7.45 a.m. as I was watching the market's last 15 minutes I noticed another setup with AAPL which appeared to be quite profitable. AAPL was trading at $450 with very little movement since the market opened. The $480 strike call option with March 2 expiry was bid at 61 cents.

This appeared to me to be an attractive price and I sold 60 contracts.

So, here we have it:

I sold 60 contracts of AAPL $480 strike call options at 61 cents with an expiry of March 2.

I'll leave it to you to do the maths.

Most of you will be able to work it out. Don't worry if you can't. I'm sure somebody will post the figures.

So, next Saturday, March 2, we all will know the outcome.

Have an enjoyable week.

Alvin Purple

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Alvin Purple said:

Copyright laws and confidentiality agreements prevent me from disclosing Daniel's next trades. All I can say is that the March trades are progressing nicely.

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How convenient

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Thanks for the very detailed and helpful reply Matteo. I am sure there are a lot of people who read your post and have found it informative and constructive. Thanks for taking the time to write it and post it. Ignore those who have nothing to contribute other than criticism of those who are trying to inform and help the trading community.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Man this is pure theater.... comedy gold.

When I have time I'll come back to this for a fisking, but in the meantime Daniel, what was the margin requirement for your purported AAPL position(s)... and how much cash reserve did(do) you have for margin call contingency?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

wayneL said:

....in the meantime Daniel, what was the margin requirement for your purported AAPL position(s)... and how much cash reserve did(do) you have for margin call contingency?

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OK... I can hear cricketrs chirping

Would any of Daniel's employees who are posting here like to take a stab at the margin requirement for the purported AAPL position?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

prawn_86 said:

How convenient

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prawn_86: Yours was the only reply. How astounding.

Convenient or not, the law is the law. And the law must not be broken.

Anyway, we will all know in 5 days how my AAPL trade went. If I come out of it with a small loss or just break even, you will all have a lot to laugh about.

But just imagine it is a successful trade and the call option expires worthless, who will have the last laugh then?

I realise, prawn_86, that you haven't got the mathematical ability to work out my profit, but I'm sure there'll be many posters who will do it for you.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Alvin Purple said:

Anyway, we will all know in 5 days how my AAPL trade went. If I come out of it with a small loss or just break even, you will all have a lot to laugh about.

But just imagine it is a successful trade and the call option expires worthless, who will have the last laugh then?

I realise, prawn_86, that you haven't got the mathematical ability to work out my profit, but I'm sure there'll be many posters who will do it for you.

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Oh my, how you misconstrue ASFers.

Nobody will will laugh at you, win lose or draw, IF YOU ARE HONEST WITH US.

You see, we all have wins, losses and draws... all of us. What counts is mathematical expectancy of a trading method over the long haul. How many times a system wins is almost irrelevant, it is the sum of wins versus the sum of losses which counts in the end.

90% win rate counts for nothing if the 10 of losses are calamitous. A 35% win rate nothing to worry about if wins are very much greater than losses.

If you wonder why ASFers are having a go at you, it is because you are being nefarious, obtuse and mendacious in your representation of the results of what is systematic synthetic put sales. Those of us who know a bit about options and trading know you are jerking yourself off here and we don't appreciate you insulting our intelligence.

I've known prawn a fair while now and I guarantee you his mathematical ability is prodigious, it is his job to be so.

Now for some maths from you, would you be so kind as to answer my question regarding the margin requirement of your purported AAPL position?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Please also do explain how you hedge with a GSL.

Did you hedge the Apple trade?

thnx

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

skyQuake: Whenever I use a GSl I find there is no need for hedging.

When I sell a way-out-of-the money call option with only a short time to expiry, I don't use any hedging.

All other trades are hedged, of course.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

wayneL: How can I misconstrue ASFers when I don't even know what an ASFer is?

Of course I am honest with you.

Didn't I just tell you about the way-out-of-the-money AAPL call option that I sold last month and that expired worthless last week?

Didn't I just tell you about the AAPL trade I put on last Saturday and that will expire this Saturday?

Not on any of the 10 pages of this thread did I notice anybody else posting their trades. Funny that. Why am I the only one posting my trades?

What is being nefarious, obtuse or mendacious in the representation of my results when I CLEARLY stated the price, the quantity and the fact that the call options expired worthless? (No need to answer it, it was a rhetorical question)

I cannot make it any plainer than that.

Intelligence can only be insulted where it exists.

You may think that prawn_86's mathematical ability is prodigious. We all know, and he has proved it in his own post, that he CANNOT multiply 3200 by 100 without being wrong by a factor of 10, that is 1000 % wrong.

My AAPL position is not purported, it is very real, and the margin requirement is 10 %.

Yours truly,

Alvin Purple

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Alvin Purple said:

skyQuake: Whenever I use a GSl I find there is no need for hedging.

When I sell a way-out-of-the money call option with only a short time to expiry, I don't use any hedging.

All other trades are hedged, of course.

Click to expand...

Was referring to

Alvin Purple said:

Total losses? The worst outcome is "break even" when the Guaranteed Stop Loss Order is applied correctly.

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cheers

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Alvin Purple said:

skyQuake: Whenever I use a GSl I find there is no need for hedging.

When I sell a way-out-of-the money call option with only a short time to expiry, I don't use any hedging.

All other trades are hedged, of course.

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Can you explain how GSL equates to hedging?

A planned exit (with a probability of loss due to pre-expiry delta/gamma) is not a hedge.

Also as discussed, ITM CC = synthetic naked put.

How is this hedged?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Alvin Purple said:

wayneL: How can I misconstrue ASFers when I don't even know what an ASFer is?

Of course I am honest with you.

Didn't I just tell you about the way-out-of-the-money AAPL call option that I sold last month and that expired worthless last week?

Didn't I just tell you about the AAPL trade I put on last Saturday and that will expire this Saturday?

Not on any of the 10 pages of this thread did I notice anybody else posting their trades. Funny that. Why am I the only one posting my trades?

What is being nefarious, obtuse or mendacious in the representation of my results when I CLEARLY stated the price, the quantity and the fact that the call options expired worthless? (No need to answer it, it was a rhetorical question)

I cannot make it any plainer than that.

Intelligence can only be insulted where it exists.

You may think that prawn_86's mathematical ability is prodigious. We all know, and he has proved it in his own post, that he CANNOT multiply 3200 by 100 without being wrong by a factor of 10, that is 1000 % wrong.

My AAPL position is not purported, it is very real, and the margin requirement is 10 %.

Yours truly,

Alvin Purple

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Now as we paint you into a corner, the ad hom comes out

So your margin is an even 10%? Portfolio margin may approximate 10% on this (purported until proven) position.

Please tell us what that "10%" is on and the actual figure. I want to see you write it.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

wayneL: Seriously, if you can't work out what 10 % is, then I suggest you consult with that mathematical genius prawn_86.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

wayneL said:

Can you explain how GSL equates to hedging?

A planned exit (with a probability of loss due to pre-expiry delta/gamma) is not a hedge.

Also as discussed, ITM CC = synthetic naked put.

How is this hedged?

Click to expand...

Didn't I just tell you that when the GSL is applied correctly there is no need for hedging?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Im sick of the bickering going on here and not getting anywhere so I'll explain a few things as Ive seen this strategy work quite well.

If someone chooses to use a GSL, it costs them an additional 0.3% (typically) or 3% less on your monthly return. Having said that, one can typically trade the same stock every month if the GSL isnt hit.
If the trade is stopped out (GSL hit) then you are stopped out with zero loss minus brokerage fee's.

Of course theres the issue of the option however which will now be OTM. There is a choice to make, let it expire hopefully worthless or buy it back.
So the loss is on buying back the option (if you choose to do so) and brokerage fee's.

The funny thing that people dont understand about this isnt that leverage is there to increase your returns so much but to provide Margin of Safety as youre able to set strikes far from the price action giving you time to decide on a course of action when the market tanks.

Anyway as ive said previously, im remaining neutral here but just throwing my 2c in as this thread is now going around in circles.

I follow an ex-fund manager by the way that has been getting returns lately of 60% (annualised) and this is through buying options and targeting asymmetric trades.
I dont see Alvins 30% claims as outrageous but I can see the argument here is more so the method than the actual returns.
Theres a fund manager that has a regular spot on SKY TV and other Aussie shows that boasts a value investing approach that generates 20%+, so thats damn good for a long term investing approach that doesnt use instruments such as options, warrants, CFDs with an asymmetric pay off.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Well said, zac. I agree.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

my oh my

Of course theres the issue of the option however which will now be OTM. There is a choice to make, let it expire hopefully worthless or buy it back.
So the loss is on buying back the option (if you choose to do so) and brokerage fee's.

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zac, we get that the GSL works on the stock leg. But you dismiss the potential loss on the option too lightly;
the loss on the option (if it was a put, but a call will have the same effect) , should you close it out, will be many times the extrinsic value you orginally sold. Dont dismiss it unless you have worked out what it is likely to be. If you dont close it out, you would be short gamma and totally unhedged in a volatile market. That was TOTALLY UNHEDGED. This is the bit that seems to be ignored by the promoters and supporters of this strategy, such as alvin who totally refuses to get that point. But hey he is rich as croseus from his option trades so why would i try to learn him any more?


since alvin wont do the maths, i have got my fag packet out again and according to it his AAPL trade involves $2.7m worth of stock , so at 10% margin he has put up $270k to win $3660. Cool. By the way how often does AAPl close up by more than 6.7% over a week? You have a figure for that right Alvin?

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Exactly No Villge Idiot. This is the exact point made sveral times on this thread.


Thos stop loss setup they have is no diffent to a contingecy order on the natural short pur (the CC being the synthetic)

ie Buy to close put at market if underlying trades at x.

The fact these clons don't see the potntial for loss and refer to it as a breakeven stop shows their naivety.

Re: Daniel Kertcher/Platinum Pursuits - Serious or Scam?

Ps forgive typos on the phone