Daniel Kertcher/Trading Pursuits - Serious or Scam?

[CanOz]

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

In the first three months (for which complete figures are available) the unit price increased by 4.7 % which equates to an annual rate of 18.8 % p.a.

nah nah nah nah No...you can't extrapolate a quarterly return. You will have draw-down months. That's like saying my managed futures account had one month where it returned 12%...so that's 144% per year.

You don't have a track record until you have one! Even one year is not enough to gauge performance. The best manager i know can use two years for profitability, most are three years minimum.

 

[kid hustlr]

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

OK, wayneL, as it says in Dr. Faustus: "Gray, my friend, is all theory."

I really can't be bothered with theoretical examples where you don't even give the premium.

I much rather stick to practical examples like this one. Only this morning I put on a trade which shows the benefit of delayed options writing.

This morning, just after the market opened I bought 10,000 CFDs of TSLA at $165.25. This was based on intelligence received from my American friends that TSLA would come out with an excellent earnings report tomorrow. Later on this morning, just before the market closed at 8.00 a.m TSLA had risen to $175.00 and I sold 100 call option contacts, strike price $180.00, premium $8.00, expiry Nov 8, 2013.

I set the S/L at $172.00.

Now this is a real, live example and the trade won't conclude (unless I get stopped out) until market close on November 8, which will be 8.00 a.m. Saturday, November 9 here in Australia.

The figures I mentioned can be checked with any data service so the trade is fully transparent.

I am very happy with this trade, but I don't know how much I will make until Saturday, but it won't be a long wait. I think I am safe in saying that I won't lose any money.

However you guys will probably find a way and a circumstance where I can still lose money. But that's OK. It doesn't worry me one bit, because I know that I cannot lose money on this trade.

Seriously?

 

[skyQuake]

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

OK, wayneL, as it says in Dr. Faustus: "Gray, my friend, is all theory."

I really can't be bothered with theoretical examples where you don't even give the premium.

I much rather stick to practical examples like this one. Only this morning I put on a trade which shows the benefit of delayed options writing.

This morning, just after the market opened I bought 10,000 CFDs of TSLA at $165.25. This was based on intelligence received from my American friends that TSLA would come out with an excellent earnings report tomorrow. Later on this morning, just before the market closed at 8.00 a.m TSLA had risen to $175.00 and I sold 100 call option contacts, strike price $180.00, premium $8.00, expiry Nov 8, 2013.

I set the S/L at $172.00.

Now this is a real, live example and the trade won't conclude (unless I get stopped out) until market close on November 8, which will be 8.00 a.m. Saturday, November 9 here in Australia.

The figures I mentioned can be checked with any data service so the trade is fully transparent.

I am very happy with this trade, but I don't know how much I will make until Saturday, but it won't be a long wait. I think I am safe in saying that I won't lose any money.

However you guys will probably find a way and a circumstance where I can still lose money. But that's OK. It doesn't worry me one bit, because I know that I cannot lose money on this trade.

If you took the trade then well done. But this is a 'buy the rumour', rather than some kind of options play. Any instrument would have made money going just pure long, conversely any short would have lost money. Good thing that tip was bullish eh?

Everyone had a go at you with the AAPL trade because that was a pure punt, since you took the trade at end of day right before earnings which could have gapped either way.

---------------

Can't seem to find Spectrum Live Capital Management's performance anywhere. slcm.com is down so i'll check again tomorrow

 

[Alvin Purple]

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

Seriously?

Yes, absolutely seriously.

I am not going to risk a large percentage of my account for the fun of it, even though the worst outcome would be not making any money at all.

Making money is a serious business, nothing funny about it, but it is a lot of fun.

 

[Alvin Purple]

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

skyQuake, it was a bit more than a rumour, it was well researched market intelligence.

And if I am not completely mistaken, buying CFDs, then, when the price has risen, writing covered calls OTM over those CFDs is still an "options play". I seem to recall seeing it referred to as "delayed" writing of covered calls.

 

[wayneL]

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

OK, wayneL, as it says in Dr. Faustus: "Gray, my friend, is all theory."

I really can't be bothered with theoretical examples where you don't even give the premium.

I much rather stick to practical examples like this one. Only this morning I put on a trade which shows the benefit of delayed options writing.

This morning, just after the market opened I bought 10,000 CFDs of TSLA at $165.25. This was based on intelligence received from my American friends that TSLA would come out with an excellent earnings report tomorrow. Later on this morning, just before the market closed at 8.00 a.m TSLA had risen to $175.00 and I sold 100 call option contacts, strike price $180.00, premium $8.00, expiry Nov 8, 2013.

I set the S/L at $172.00.

Now this is a real, live example and the trade won't conclude (unless I get stopped out) until market close on November 8, which will be 8.00 a.m. Saturday, November 9 here in Australia.

The figures I mentioned can be checked with any data service so the trade is fully transparent.

I am very happy with this trade, but I don't know how much I will make until Saturday, but it won't be a long wait. I think I am safe in saying that I won't lose any money.

However you guys will probably find a way and a circumstance where I can still lose money. But that's OK. It doesn't worry me one bit, because I know that I cannot lose money on this trade.

It's a hindsight trade and whether you took this trade or not is immaterial.

But the trade as described is actually two separate trades:

Trade one is long the CFD, with open ended risk and reward.

Trade two is writing the the call CFD.

So you (purportedly) took on substantial risk, locked in the (purported) profit via a short ITM call.

Loss is less probable, but still possible, consider if the stock tanks to... say... $100 next session. Think a loss is not possible and you are deluded.

Let's look at a different scenario - You bought the stock and it went the other way.... you would be deep underwater right now.

 

[Bort]

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

No comment about Kertcher but if you don't like how much he charges you should consider how many household name brokerage firm stockbrokers run covered call strategies. $3200 or whatever it costs you to actually learn about about covered calls is easily nailed in a rolling a portfolio full of covered calls at $70-$110 per leg!

A lot easier to call out one guy with his name to something than the faceless people at major brokerage firms?

Agree covered calls wouldn't be my optimal strategy. McMillan and Taleb will confirm this but how many punters have read Options as a strategic investment or black swan cover to cover?

At least covered calls is A strategy which if you execute systematically is more that one could say about a lot of strategy down at the morning meeting of your full advice broker.

 

[Alvin Purple]

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

It's a hindsight trade and whether you took this trade or not is immaterial.

But the trade as described is actually two separate trades:

Trade one is long the CFD, with open ended risk and reward.

Trade two is writing the the call CFD.

So you (purportedly) took on substantial risk, locked in the (purported) profit via a short ITM call.

Loss is less probable, but still possible, consider if the stock tanks to... say... $100 next session. Think a loss is not possible and you are deluded.

Let's look at a different scenario - You bought the stock and it went the other way.... you would be deep underwater right now.

Since when is a trade that has just been entered and does not conclude until 4 days from now a "hindsight" trade?

Have you never heard of a Stop Loss Order?

It seems that no matter what I do, you will always find some fault with it.

For your information it was a trade based on very well researched market intelligence, but you probably wouldn't understand that.

In any case, it does not matter what you think or say. That trade will conclude this Saturday at 8.00 a.m. and I know that it will be profitable. The only thing I don't know is the size of the profit. But I am a patient man, I can wait.

 

[wayneL]

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

Since when is a trade that has just been entered and does not conclude until 4 days from now a "hindsight" trade?

Have you never heard of a Stop Loss Order?

It seems that no matter what I do, you will always find some fault with it.

For your information it was a trade based on very well researched market intelligence, but you probably wouldn't understand that.

In any case, it does not matter what you think or say. That trade will conclude this Saturday at 8.00 a.m. and I know that it will be profitable. The only thing I don't know is the size of the profit. But I am a patient man, I can wait.

It doesn't matter, it's still two trades, not reflective of a cc entered as a single trade.

As an example of what we have been discussing, it is invalid.

 

[Alvin Purple]

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

It doesn't matter, it's still two trades, not reflective of a cc entered as a single trade.

As an example of what we have been discussing, it is invalid.

Since it is going to make me a lot of money - WTF does it matter?

 

[wayneL]

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

Since it is going to make me a lot of money - WTF does it matter?

The discussion is Kertchers DITM CCs, Greeks, risk, and possibility of loss. Vis a vis, examining your repeated claims that a DITM cc as constructed has no chance of loss.

Now you can wiggle about posting purported trades that have extraneous vectors unnrelated to the specific type of trade under examination, after the fact, to muddy the waters; or you cab fess up and admit that you made claims that were complete BS.

Also, it is near the end of the NY session Alvin. If I wanted to impress the asinine and the gullible, I could go and find an optionable mover, check the course of sales so I don't make a fool of myself like you did a few weeks ago and get caught out lying, and purport to have made a spectacular trade.

I would then bluster and move the goalposts around, refuse to show my broker statements, brag about all the money I purportedly made etc.

So let's just stick to the question - After learning about Greeks, do you still claim that the only result from DITM CCs is breakeven or profit.

In addition, you never answered my question with regards the phantom trade above. What if your stock went down ten bucks before shorting the call?

Just stray on track, no red herrings Alvin.

 

[cynic]

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

Have you never heard of a Stop Loss Order?

Have you never heard of a naked written put?

It seems that no matter what I do, you will always find some fault with it.

Do you ever actually wonder why that might be?

Perhaps, it's due to gross misrepresentations of risks inherent to a certain trading methodology.

Or maybe it has something to do with repeated failures to accede to requests for audited broker statements, substantiating claims of financial results achieved with said trading methodology.

Mayhaps the criticisms result from a combination of both the aforementioned deficiencies!

 

[CanOz]

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

Tesla missed some "whisper" numbers, stock tumbles...

 

[skyQuake]

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

Looks like ur stop got hit. What did you do with those written calls?

 

[Pure Silk]

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

Looks like ur stop got hit. What did you do with those written calls?

Hopefully Alvin had a GSL @ $172.00, otherwise there is a $100k loss on the CFD based on the After Hours close price $155. To offset of course, he should collect $80k Short call premium which is probable as the tanked stock price is unlikely to recover by the close on the 8th. To eliminate risk, Alvin should buy back the calls at a profit now. If all goes Alvin's way, he will collect $150k. Comments Alvin?

 

[wayneL]

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

Couldn't have been a GSL as it wasn't minimum 5% away.

 

[kid hustlr]

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

'bump'

 

[CanOz]

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

Hopefully Alvin had a GSL @ $172.00, otherwise there is a $100k loss on the CFD based on the After Hours close price $155. To offset of course, he should collect $80k Short call premium which is probable as the tanked stock price is unlikely to recover by the close on the 8th. To eliminate risk, Alvin should buy back the calls at a profit now. If all goes Alvin's way, he will collect $150k. Comments Alvin?

Yes Alvin, we're eagerly awaiting how you managed to pull this one off...

 

[Alvin Purple]

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

OK, wayneL, as it says in Dr. Faustus: "Gray, my friend, is all theory."

I really can't be bothered with theoretical examples where you don't even give the premium.

I much rather stick to practical examples like this one. Only this morning I put on a trade which shows the benefit of delayed options writing.

This morning, just after the market opened I bought 10,000 CFDs of TSLA at $165.25. This was based on intelligence received from my American friends that TSLA would come out with an excellent earnings report tomorrow. Later on this morning, just before the market closed at 8.00 a.m TSLA had risen to $175.00 and I sold 100 call option contacts, strike price $180.00, premium $8.00, expiry Nov 8, 2013.

I set the S/L at $172.00.

Now this is a real, live example and the trade won't conclude (unless I get stopped out) until market close on November 8, which will be 8.00 a.m. Saturday, November 9 here in Australia.

The figures I mentioned can be checked with any data service so the trade is fully transparent.

I am very happy with this trade, but I don't know how much I will make until Saturday, but it won't be a long wait. I think I am safe in saying that I won't lose any money.

However you guys will probably find a way and a circumstance where I can still lose money. But that's OK. It doesn't worry me one bit, because I know that I cannot lose money on this trade.

I am devastated.

That is why I thought it might be a good idea to repost my post from November 5.

After I had bought my CFDs the price kept rising. However, at about 4.10 a.m. on November 6 the price had dropped to $172.00, my stop loss was hit and my CFDs were sold (at a profit btw). When I checked my account at 7.00 a.m. on November 6 I was considering whether to reenter the market when I received an email from my research service telling me that the earnings report to be released later that day would still be positive as forecast but that there had been other developments (like TESLA cars catching fire when involved in collisions, blown up out of all proportions by their competitors) which would spook the market and lead to a sharp selloff. So I decided against reentering the market and sure enough by next day (November 7) TSLA had dropped sharply to about $150.

The $180 call options I had sold looked very profitable now and since there was only one day left to expiry I decided not to buy them back and just let them expire worthless, which they did early this morning.

I am devastated that you guys could even think that I would lose money. As I said before, I have been trading for more than three years now and have yet to encounter a losing month.

I must admit this trade did not turn out exactly as I thought, but I am still very happy with the result.

 

[cynic]

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

Whereas my dictionary once defined the word "risky" as "attended with risk;unsafe", that entry has now been amended to read as "refer Alvin's trades for the week ending November 9, 2013".