Daniel Kertcher/Trading Pursuits - Serious or Scam?

[Alvin Purple]

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

Oops, I almost forgot. You probably also want to see how I bought the CFDs. Here it is:

___________________________________________________________________________________

This message is to confirm that you have placed the following trade:

Date: 19 AUG 2013
Reference: DIAAAASDRETWYT
Size: Buy 1000.0000 shares to open
Market: SanDisk Corp CFD
Level: 54.83

If you have any questions, please contact our Helpdesk on the details below.

____________________________________________________________________________________

 

[Pure Silk]

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

So, for all of you who are keen to see a broker's statement: Here it Is.

Now all I have to do to wait till expiry to see how the trade turns out.


_______________________________________________________________________________

This message is to confirm that you have placed the following trade:

Date: 19 AUG 2013
Reference: DIAPTREDFEWSA
Size: Sell 10.00 contract(s) to open
Market: SanDisk Corp 4500 CALL 20 SEP 2013
Level: 1290

If you have any questions, please contact our Helpdesk on the details below.

_______________________________________________________________________________

Alvin, I recognize that you have an IG account from the above which is part of the email confirmation. May I suggest that you go into "My Account" on your platform and then drill down into "Past Activity". From here select 19/8/2013 in the From and To sections to retrieve the above trade. Then as I have done in an earlier post, do a screen print (Alt+Print Screen) and save the image to a Word document and post it here. This will clear some doubt as to the authenticity of the above as the "free format" nature of the trade details you have shown can be altered. Cheers.

 

[cynic]

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

Alvin, I recognize that you have an IG account from the above which is part of the email confirmation. May I suggest that you go into "My Account" on your platform and then drill down into "Past Activity". From here select 19/8/2013 in the From and To sections to retrieve the above trade. Then as I have done in an earlier post, do a screen print (Alt+Print Screen) and save the image to a Word document and post it here. This will clear some doubt as to the authenticity of the above as the "free format" nature of the trade details you have shown can be altered. Cheers.

Given that IG offer demo accounts, screen dumps are hardly likely to be any more compelling than the hosiery theatre testimonials that already proliferate this thread.

I've got a screen dump from an IG account where I increased the balance by more than 50% in less than 15 minutes.

Would anyone like to pay me $4k for an online webinar where I reveal the arcane secret of how one can masquerade as an investment genius via the exploitation of cfd demo accounts?

 

[wayneL]

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

Interesting... also what Alvin has been unable to point out is that what he is purportedly trading are not options at all, they are CFDs on options.

As the commission is $5 per lot per side, this makes the numbers even worse for WTFITM CCS, (AKA WTFOTM synthetic short put). Probably with a wider spread than a real option also.

IG giving away ~$3 extrinsic on that series in a real trade.... not likely.

 

[cynic]

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

Interesting... also what Alvin has been unable to point out is that what he is purportedly trading are not options at all, they are CFDs on options.

As the commission is $5 per lot per side, this makes the numbers even worse for WTFITM CCS, (AKA WTFOTM synthetic short put). Probably with a wider spread than a real option also.

IG giving away ~$3 extrinsic on that series in a real trade.... not likely.

Yes!

It's somewhat reminiscent of that age old saying:

"If at first you do not deceive - lie, lie and lie again!"

 

[Alvin Purple]

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

No wayneL, I never said I was an options trader. What I said is that I am selling covered calls. I buy the CFDs and then I sell the calls with a strike price deep in the money. The commission is $5 per lot but you pay it twice only if you sell and buy the option during its lifetime. I only pay the commission once, when I sell the option and then I hold the contract until expiry when no commission is payable. IG do not "give away" anything. They simply act as a conduit between buyer and seller.

Right now all I have to do is wait 2 weeks to expiry when I collect my profit.

My trading success does not depend on whether anybody approves of my trading style. My profits accumulate irrespective of anybody else's opinion.

 

[wayneL]

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

No wayneL, I never said I was an options trader. What I said is that I am selling covered calls. I buy the CFDs and then I sell the calls with a strike price deep in the money. The commission is $5 per lot but you pay it twice only if you sell and buy the option during its lifetime. I only pay the commission once, when I sell the option and then I hold the contract until expiry when no commission is payable.

Semantics

IG do not "give away" anything. They simply act as a conduit between buyer and seller.

You are dealing with the market maker in all cases with those option CFDs... viz IG markets.... even with DMA. With DMA IG will take a parallel trade in the real market so any real trades will show in the real market course of trades. This did not happen with your fraudulent example.

So I repeat, there is no way IG gave you that trade.

Right now all I have to do is wait 2 weeks to expiry when I collect my profit.

As we have ascertained, this trade is illusory and the only profit you will collect will be in your imagination.

My trading success does not depend on whether anybody approves of my trading style. My profits accumulate irrespective of anybody else's opinion.

Once again, based on the evidence we have at hand, there is a real possibility you aren't actually making any real profits at all.

 

[Alvin Purple]

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

"Semantics" - indeed !!!

 

[wayneL]

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

Let's play a little game shall we?

When this expires and you get to keep your imaginary profit, let's look at the Oct call the same distance OTM and see what extrinsic premium is... just for sh1ts and giggles.

As of friday's close, the bid on the Oct 50, which is closer to the money and more days til expiry than your supposed trade is $8.80 bid.

That's on 58.34 close on the underlying. That's 46c extrinsic.

Probably slightly out because market not open, but we can check live prices later.

Wanna explain the discrepency?

Vols here FYI http://www.ivolatility.com/nchart.j...r*sndk,R*1,period*12,all*4,schema*options_big

 

[Alvin Purple]

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

Look, wayneL, old chum, when you have been in the game as long as I have, you have learned not to worry about discrepancies of one sort or another. If they are in your favour - you exploit them, if they are not - leave them alone.

You ought to know that from time to time anomalies occur on the market and those people who see them first can exploit them while others miss out. This is just the way it is. As they say in the classics: "It is what it is."

Get over it and learn to live with it. It ain't gonna change anytime soon.

 

[prawn_86]

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

So you are saying you are making arbitrage profits also Alvin?

 

[wayneL]

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

If Alvin was as smart as he thinks he is, and that price was truly available (which we all know wasn't) he would have done the conversion for as many contracts he could get his hands on... Not a pissy DITM CC.

That would be risk free profit rather than the potential for risk of ruin with the geared up cc

This clown just keeps digging a bigger hole for himself

 

[burglar]

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

... This clown just keeps digging a bigger hole for himself

When you are in a hole, stop digging
It is a good thing to follow the first law of holes; if you are in one, stop digging

... when-you-are-in-a-hole ...

 

[Alvin Purple]

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

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

 

[ftw129]

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

Look, wayneL, old chum, when you have been in the game as long as I have, you have learned not to worry about discrepancies of one sort or another. If they are in your favour - you exploit them, if they are not - leave them alone.

You ought to know that from time to time anomalies occur on the market and those people who see them first can exploit them while others miss out. This is just the way it is. As they say in the classics: "It is what it is."

Get over it and learn to live with it. It ain't gonna change anytime soon.

So you are saying you are making arbitrage profits also Alvin?

If Alvin was as smart as he thinks he is, and that price was truly available (which we all know wasn't) he would have done the conversion for as many contracts he could get his hands on... Not a pissy DITM CC.

That would be risk free profit rather than the potential for risk of ruin with the geared up cc

This clown just keeps digging a bigger hole for himself

As far as I understand it and please correct me if I'm wrong but isn't this near on impossible for a human being nowadays? Aren't there hundreds, if not thousands, of super fast algorithms gobbling up any available order flow within micro seconds? Aren't Market makers in the many US exchanges, which are quoting options, just super fast computers that would eat up any such "discrepancy" quicker than your eyes could ever see on the screen?

That's more of a question rather than a fact.

 

[minwa]

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

Alvin verify your trades on on www.profit.ly. Does not show personal information just verifies that you have done the trades in the past. This is something that can't be faked unlike your idiotic typed out statements.

 

[wayneL]

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

As far as I understand it and please correct me if I'm wrong but isn't this near on impossible for a human being nowadays? Aren't there hundreds, if not thousands, of super fast algorithms gobbling up any available order flow within micro seconds? Aren't Market makers in the many US exchanges, which are quoting options, just super fast computers that would eat up any such "discrepancy" quicker than your eyes could ever see on the screen?

That's more of a question rather than a fact.

I would eat my hat if such a discrepancy even existed, never mind a human being fast enough to find and trade it.

 

[skyQuake]

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

Wow can't believe its still being argued.

So apparently you can do Options with IG Markets. You call them up, and they make a price based on the underlying. You can take it or leave it. If you take their prices, IG then hedges it in the underlying.

Sounds simple enough.

Attached is the best bid/best ask for SNDK US $45 calls.
For about 0.03 sec at the open, it was $7.95 bid, $12.95 ask.
For the rest of the session it was about $10bid, $11ask. Tops.

If you called up IG to get a quote, they would have given you about $9.50-$10.35 depending on when you called.

So the only possibility is that IG's dealer made a grievous error and none of the filters/controls caught it. He gave you a $12.90 fill. Then a bit later panicked and realized he did something wrong, hit market and got filled at $9.70.

I'd wager that the above didn't occur.
And if it did occur its not exactly an 'edge' you can repeatedly exploit.

View attachment SNDK.xlsx

 

[skyQuake]

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

So, for all of you who are keen to see a broker's statement: Here it Is.

Now all I have to do to wait till expiry to see how the trade turns out.


_______________________________________________________________________________

This message is to confirm that you have placed the following trade:

Date: 19 AUG 2013
Reference: DIAPTREDFEWSA
Size: Sell 10.00 contract(s) to open
Market: SanDisk Corp 4500 CALL 20 SEP 2013
Level: 1290

If you have any questions, please contact our Helpdesk on the details below.

_______________________________________________________________________________

Oops, I almost forgot. You probably also want to see how I bought the CFDs. Here it is:

___________________________________________________________________________________

This message is to confirm that you have placed the following trade:

Date: 19 AUG 2013
Reference: DIAAAASDRETWYT
Size: Buy 1000.0000 shares to open
Market: SanDisk Corp CFD
Level: 54.83

If you have any questions, please contact our Helpdesk on the details below.

____________________________________________________________________________________

Funny how they'd give you a fill in Dollars for your Sandisk trade, and Cents for the options trade.

 

[Alvin Purple]

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

That's what they do, skyQuake, that's what they do.

I generally don't call IG on the phone, I mostly do all my trades online. When I see the right price, I snap it up. If I miss out, I don't cry over spilt milk. There is always another opportunity just around the corner.

I have no idea why they quote the CFD price in dollars and the option price in cents. It's just the way they do it.

If you really need to know, just ask them.