Daniel Kertcher/Trading Pursuits - Serious or Scam?

[skyQuake]

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

Yes, wayneL, Skyquake is right. AAPL could have easily spiked downwards, although most people could see that it was in an upward trend. Had AAPL crashed though, I had (and still have) a GSL in place. I would not have made a profit, but would have broken even.

Explain how you could have broke even?

Stock gaps 5% against you, and you have sold no calls.

The GSL only allows you to set the stop loss 5% away so its moot.

Thanks

 

[Alvin Purple]

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

As AAPL is generally contrapuntal to the SPY, a contingent buy order on the SPY provided protection. Less than 24 hours later AAPL gapped up, the calls were sold, the buy order on the SPY was cancelled, and the GSL was placed.

Since the GSL was not triggered last week, it is still in place for this week's trade.

 

[skyQuake]

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

As AAPL is generally contrapuntal to the SPY, a contingent buy order on the SPY provided protection. Less than 24 hours later AAPL gapped up, the calls were sold, the buy order on the SPY was cancelled, and the GSL was placed.

Since the GSL was not triggered last week, it is still in place for this week's trade.

First of all AAPL has a positive 0.4~ correlation with the S&P (it makes up 2.7% of the S&P 500)

Second of all the move in the S&P futs will be far far more jaded than the move in apple, so it'll be a terrible hedge. S&P futs moved about 2pts (0.12%) vs AAPL's 5% spike post market - see attached.

 

[minwa]

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

Hahah he has no clue about hedging, dont bother he won't understand.

No proffessionals trade CFDs as main instrument (yes some trade them for fun). There's a reason only Kertcher/Mcintyre type of people sell this systems to the mums & dads.

 

[Trembling Hand]

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

As AAPL is generally contrapuntal to the SPY, a contingent buy order on the SPY provided protection. Less than 24 hours later AAPL gapped up, the calls were sold, the buy order on the SPY was cancelled, and the GSL was placed.

Oh dear he is simply clueless. What a terrible butchering of terms let alone utterly woeful pretend at a hedge.

Now we are getting the real laughs.

 

[zac]

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

Hahah he has no clue about hedging, dont bother he won't understand.

No proffessionals trade CFDs as main instrument (yes some trade them for fun). There's a reason only Kertcher/Mcintyre type of people sell this systems to the mums & dads.

Americans don't even know what CFD's are however lots of pro's use instruments with far more leverage and danger than CFD's.

 

[Alvin Purple]

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

Over the last three months AAPL was contrapuntal to the SPY 90 % of the time and last Wednesday was no exception. When AAPL gapped up so beautifully, the SPY went down. That is the reason why my contingent buy order on SPY was not triggered.

minwa, you are not very professional the way you spell professional. In any case, I never claimed to be a professional trader, I am nothing but a bloody amateur who happens to make a lot of money trading.

Anyway, I have told you about my trade this week, let's just wait until Saturday to see how it turns out.

 

[CanOz]

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

I am nothing but a bloody amateur who happens to make a lot of money trading.

More empty claims, show the audited statement or get a lifetime ban, you pick one...

 

[skyQuake]

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

Over the last three months AAPL was contrapuntal to the SPY 90 % of the time and last Wednesday was no exception. When AAPL gapped up so beautifully, the SPY went down. That is the reason why my contingent buy order on SPY was not triggered.

minwa, you are not very professional the way you spell professional. In any case, I never claimed to be a professional trader, I am nothing but a bloody amateur who happens to make a lot of money trading.

Anyway, I have told you about my trade this week, let's just wait until Saturday to see how it turns out.

Actually over the last 3 months Apple moved the same direction as the S&P 56% of the time.

In any case a contingent buy on the SPY would have been useless as the magnitude of the Apple move will dwarf the SPY move, plus the SPY will have other factors affecting it far more than apple results. Eg Econ figures, Asian markets.
If apple had gapped the other way, it would have made the S&P 1 maybe 2pts lower. No hedge either way.

As for your new trade, its pretty unclear to me what you're doing. So far, I know you've sold 2x Apple $450 calls for $1.75 each. What was the price of apple when you did this? Where was your cfd's stop? Otherwise its too hard to see which trade is which with the P/L from one trade rolling into the next.

 

[sinner]

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

Over the last three months AAPL was contrapuntal to the SPY 90 % of the time

What a joke, crazy statement!

"Contrapuntal to the SPY"

"Contrapuntal to the SPY 90% of the time"

What is the basis for these claims?

Certainly it isn't the rolling correlation between closes, daily range, or implied volatility, because even a cursory glance at these numbers shows a positive correlation over 65 trading days, the accepted quarterly number. Movements opposite, at a rate of 90% of occurrences, would surely show up as a negative correlation of some sort, somewhere.

 

[Alvin Purple]

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

The question is: Can you handle the truth? In my humble opinion "YOU CAN'T HANDLE THE TRUTH"

The simple fact is that what I did last week I have done many times before and the outcome was either a profit or a break-even situation.

I have also told you exactly what I am doing this week and just to clarify a few points I will give you the exact details. Again, no hindsight required, as this trade will not finish until Saturday morning, August 3, 2013.

Last Tuesday, July 23 I bought a large number of AAPL CFDs at $418.95. Next day I sold a corresponding number of call option contracts, Strike $450, premium $1.70, expiry date July 26. On Saturday morning (July 27) AAPL ended up at $440.99, the options expired worthless and I collected all the premium income as profit.

Just before market close (5.50 a.m. Saturday, July 27) I sold the same number of call option contracts, Strike $450, premium $1.75, expiry date August 2. The GSL was moved to $418.90 which is slightly above break-even point.

So, all I have to do is wait until Saturday morning, 6.00 a.m. when the options expire.

There are only three possible outcomes: AAPL ends up above $450 in which case I will have to sell my CFDs at a huge profit (remember I bought them at $418.95)

The second scenario is if AAPL ends up below $450 but above $418.95 in which case the options expire worthless (just as they did last week) and I collect all the premium income as profit.

The third scenario is if AAPL ends up below $418.90 in which case my CFDs are sold at $418.90, I'll lose 5 cents per share but still collect the call option premium of $1.75 per share and make a profit similar to that in the second scenario.

To me as an amateur it seems there is no way I can lose. The only thing that is not certain is how big my profit will be.

But what would I know? I am only an amateur. I am sure you professionals will soon tell me there is still a way I can lose.

I prefer to sit back, enjoy the lovely spring weather we are having, and just wait till Saturday morning to see what happens.

 

[CanOz]

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

I have banned Alvin Purple for 7 days or until he shows an audited statement of his claims of profits...

 

[Pure Silk]

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

I have banned Alvin Purple for 7 days or until he shows an audited statement of his claims of profits...

You could have left his post from 10.38pm (dated 29/7) instead of deleting it so others can judge the validity of his claim if/when he shows his statement. Please re-instate it in the name of democracy and fair play.

 

[sinner]

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

You could have left his post from 10.38pm (dated 29/7) instead of deleting it so others can judge the validity of his claim if/when he shows his statement. Please re-instate it in the name of democracy and fair play.

Just how many sock puppets does this guy have up his sleeve? Is like half of ASF dormant sock puppets registered by trolls and scammers?

 

[wayneL]

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

This trade as purported by Alvin is all fine and dandy:

Long stock (or derivative thereof) which there was risk of loss with the stop out, stop moved to BE and calls written along the way. Nothing ingenious, unusual, or clever about that and still subject to having a trading edge and mathematical expectancy.

But IIRC has nothing to do with the Kertcher system as purported by Alvin represented earlier, which entailed buying CFDs and wringing an ITM call... AKA synthetic OTM short put.

With this system Alvin made a number of claims which defied probability and whichever option pricing model you want to use... IOW, total BS. Of course these were unceremoniously dismantled.

Now this synthetic OTM short put system has (purportedly) transmogrified into the above discretionary trading.

I repeat there is nothing wrong with either type of trading; they are what they are with wins, losses and subject to expectancy and probability.

The reason Alvin is being asked to substantiate his results is because of the earlier claims of overall profitability and the fanciful claim of never having made a loss.

ASF exists for the sharing of valid ideas and information on investing and trading, not as the marketing arm of the various seminar clowns and their preposterous shills.

We've had fun with Alvin, but the banter has continued long enough, it's time to put up or STFU.

 

[ftw129]

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

"Alvin Purple" aside, I like many other people following this thread have never traded a CFD, so some of the references to how this system works are a little unclear...

From what I can gather here, CFD's are used to buy the stock and a "guaranteed stop loss" is put in place at break even. Calls are then written against the stock and I'm guessing, dividends could possibly be collected too...

Is that correct?

If so, then where does the risk of loss come in to play?

Could someone please explain how this does (or doesn't) work and where the risk of loss is?

I'm having trouble understanding where the risk is and it's probably because I don't understand the mechanics of the CFD GSL.

Thanks in advance.

 

[skyQuake]

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

"Alvin Purple" aside, I like many other people following this thread have never traded a CFD, so some of the references to how this system works are a little unclear...

From what I can gather here, CFD's are used to buy the stock and a "guaranteed stop loss" is put in place at break even. Calls are then written against the stock and I'm guessing, dividends could possibly be collected too...

Is that correct?

If so, then where does the risk of loss come in to play?

Could someone please explain how this does (or doesn't) work and where the risk of loss is?

I'm having trouble understanding where the risk is and it's probably because I don't understand the mechanics of the CFD GSL.

Thanks in advance.

The guarantee stop loss order is just any other stop loss, except the price is guaranteed even in case of massive gaps. However for the privilege, you pay 0.3% prem, and the stop must be set no less than 5% away from the last price.
So 10bp to buy, 10bp to sell, and 30bp prem = 0.5% total spent

On apple thats about $2.50 which will eat heavily into the option prem.

In short, no free lunch.

 

[ftw129]

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

The guarantee stop loss order is just any other stop loss, except the price is guaranteed even in case of massive gaps. However for the privilege, you pay 0.3% prem, and the stop must be set no less than 5% away from the last price.
So 10bp to buy, 10bp to sell, and 30bp prem = 0.5% total spent

On apple thats about $2.50 which will eat heavily into the option prem.

In short, no free lunch.

Thank you skyQuake,

So the risk is 5% (multiplied by whatever the leverage is that's being used) plus 0.5% for the costs involved, minus the premium....?

Wouldn't selling a put spread achieve the same thing but save a hell of a lot in transaction costs, margin and stuffing around?

 

[skyQuake]

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

Thank you skyQuake,

So the risk is 5% (multiplied by whatever the leverage is that's being used) plus 0.5% for the costs involved, minus the premium....?

Wouldn't selling a put spread achieve the same thing but save a hell of a lot in transaction costs, margin and stuffing around?

Apologies, should be 0.3% GSLO risk prem (up to 1% for the more volatile stocks), but for US, the brokerage is 2c/share not 10bp.

Risk can be greater than 5% too. I remember they generally increase the min stop%away distance before big earnings calls. Also if the stock has been volatile recently.

Payoffs sorta similar with one distinction, the GSLO is one touch only like a barrier oppie. So if stock spikes down then back up, you're in for a world of hurt

Tried fiddling around with it to see if it could work. But 0.3% additional fees end up being quite the killer in the long run. At 10x or 20x leverage with the CFD providers that 0.3% is 3 or 6% of your account! Not to mention the FUNDING costs.
This is even exclusive of oppies brokerage (which is relatively cheap compared to the CFDs)

 

[Marekzero]

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

I have been interested in investing in the share market for a while now, although until recently I was not actively researching.

A friend of mine who has taken Daniels courses (both the income plus and mastery) last year seems very pleased with what was provided to her in terms of learning material, which she has studied extensively and the recommendation emails. I'm unaware of her exact financial position although from what I gather she is quite pleased with her results from leveraging her options and a large windfall from forex trading as well.

This of course sparked my interest in the courses hence why I am here, researching. As of course I am quite skeptical and would rather not part with 4k for information readily available through books and the Internet.

She spoke of the rules and such that others have mentioned, although I am yet to chat with her further about her experience.

Something I found strange was that she said that the strategy being implemented can only be executed using IG as it is a new thing being done and they are the only brokers who offer the service and that you need to do the course in order to have access to it. I found that outrageous (although I dont have the knowledge to know if it is true or not) and from reading this thread clearly that is a bit of dribble from Daniel.

Hence,

Edit: Found it, turns out it was good old IG!

Sounds like there is a bit of negative connotation there, care to elaborate? I'm not having a go at you I just don't know a lot about brokers at the moment, she also mentioned using spectrum live.

Thanks for any and all replies.