Another month comes to an end today and a 3rd successive profitable month @ 4.78%. I intend to post my results starting with this financial year as there has been a consistency with capital employed and the $ values will have meaning (along with supporting statements sent separately to Joe of course). However, as someone has mentioned previously, 3 stellar months does not make a summer. I do not want to risk being on the receiving end of any negative comment and have decided to hold off until at least 6 months results are to hand OR there is a losing month. I am uncertain whether I will be taking the trading ideas for October expiry (16 trades so far suggested) as I am embarking tonight on a 3 week trip to Japan and Hong Kong. Not sure if I want to have any live trades whilst away on holidays.
Another month comes to an end today and a 3rd successive profitable month @ 4.78%. I intend to post my results starting with this financial year as there has been a consistency with capital employed and the $ values will have meaning (along with supporting statements sent separately to Joe of course). However, as someone has mentioned previously, 3 stellar months does not make a summer. I do not want to risk being on the receiving end of any negative comment and have decided to hold off until at least 6 months results are to hand OR there is a losing month. I am uncertain whether I will be taking the trading ideas for October expiry (16 trades so far suggested) as I am embarking tonight on a 3 week trip to Japan and Hong Kong. Not sure if I want to have any live trades whilst away on holidays.
WayneL, it is 4.78% of my entire account balance held by IG. I usually allocate 90% as margin and the result was achieved with 14 trades I believe. Can't check as I am at the airport. I would always represent gains as a percentage of all funds held by the broker as one must in my view, take into consideration the opportunity cost of any unused funds.Don't view this as negative... but 4.78% of what. Is that a single trade, several trades? Is that of total capital, initial margin, or of face value of the underlier.
Where is the call on the trade?
I have therefore decided to stop relying on dumb luck alone and have taken your advice to buy a few good books on options trading. It may take me quite a while to get through all this reading material (I am a slow reader) and will therefore not be posting for a while.
However, I fully intend to come back here when I have learnt all there is to learn about options trading from books. It may even improve my returns to a higher figure than 2.5 % per month and if that is indeed the case you will hear all about it.
Bye for now,
your truly,
Alvin Purple
Would I attend?
WTF is that?
A critique from someone who hasn't even attended the course. You are in the right place here. Most critics here haven't attended the course either.
Would I attend?
WTF is that?
A critique from someone who hasn't even attended the course. You are in the right place here. Most critics here haven't attended the course either.
As you will all have seen by now, my SNDK trade turned out to be profitable after all. Must be another case of sheer dumb luck.
The figure of 4.78 % on total capital employed for the month, mentioned by puresilk, is achievable if one employs nearly all of one's capital. I am much more conservative than that and usually employ less than 50 % and that is why my returns are lower, generally about 2.5 % per month.
The point is that I have had average returns of 2.5 % per month for the last three and a half years, but after reading all the comments on this forum I have come to the conclusion that it must all be due to dumb luck.
. I've got news for you. Recently Daniel ran a four-day course at a very posh hotel in Sydney for which he charged $5000 per person. He attracted 350 paying customers. So, let's do some quick maths. Even though it may have cost him up to $500,000 to stage the event (room hire, excellent catering, morning tea, superb lunches and afternoon tea, staff costs etc.), it will have left him with a net profit well in excess of a million dollars, not bad for four days work.
Sums it well, I wouldn't need any more evidence than that to drive me away. It's all about the marketing isn't it!
Well done Alvin, that's a great example.
wayneL, it may be camel dung to you, but to me it's pure cash, and lots of it.
....
For those of you who keep saying that Daniel should run a Fund for people who don't want to trade themselves if his recommendations are as good as he says. Well, I have news for you. Daniel has done exactly that. He started that Fund six months ago, has received subscriptions of more than $22 million and his returns in those six months are roughly double what you can get from other Mutual Funds in Australia. No, he doesn't show his broker statements but his results are audited by ASIC which is good enough for me. I know that some of you don't think much of ASIC, but I'm afraid that ASIC is the best this government can offer to protect its citizens. I am fully aware that ASIC is underfunded but they are doing the best they can with limited resources. They do, however, audit all Funds that hold an Australian Financial Services Licence (AFSL), so at least we are comparing apples with apples.
....
Five weeks have passed and there has not been one post to this thread. That fact alone tells a whole story, doesn't it?
But I digress.
First of all I should thank all of you for recommending several books about options trading that I should read. I have done exactly that and I must say it has opened my eyes. While I was reasonably successful with the knowledge I gained from Daniel Kertcher, after reading all those books I have a much better understanding of, for instance, the Greeks and all the other stuff you already know about. Suffice to say that my trading results have improved measurably. I can look forward to a successful conclusion of the current year and will be able to enter 2014 with renewed vigour.
So you still can't grasp the that your claims earlier in the thread cannot be correct?
It does tell a story indeed. Daniel Kertcher's marketing department has been away reading books about options trading and there has been no need to correct their mathematical calculations, expose their bald faced lies or warn newbies away from this charlatan.
Well done Alvin. You've proved the point raised here several times. You don't need to spend $5,000. Just buy a few books for about $100 and you'll get a lot more than Kertcher's course will teach you.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?