Daniel Kertcher/Trading Pursuits - Serious or Scam?

[prawn_86]

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

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.

This really sums it up. As mentioned before, Alvin has re-written the financial laws and is able to take on risk without ever having a losing month

Why aren't you trading for a hedge fund? Greg Coffey makes >$350m pa and he has losing months...

 

[Alvin Purple]

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

cynic and prawn_86:

There is risk in everything we do. It's how you control those risk is what matters.

And no, I don't want to run a Hedge Fund (or any other fund for that matter). I'll leave that to the likes of Daniel. I believe his fund is doing reasonably well.

And I don't want to work more than about an hour a day, otherwise it becomes a job.

I am happy doing what I am doing all by myself (with a bit of help from reputable research services)

 

[Samuel]

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

10,000 CFD's on one stock.

Please humour me Mr Alvin Purple, in dollar terms what exactly was your risk management plan in relation to the stock and the calls?

 

[wayneL]

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

10,000 CFD's on one stock.

Please humour me Mr Alvin Purple, in dollar terms what exactly was your risk management plan in relation to the stock and the calls?

There is no need for risk management in fictional hindsight trades Samuel.

But some numbers for the purported trade.

Initial deltas 10,000

Face value $1,652,500.00

Initial margin requirement $165,250.00

100 day yearly volatility ~64%

100 day daily volatility ~4%

Ergo, a single sigma daily move at current price levels is approximately $6.00.

Which is equivalent to $60,000.00

This means there is approximately a 1/3 chance of any daily move being greater than $60,000.00, both for or against the trade.

In the last 200 days, there have been 4 and 5 sigma daily moves, a $240,000 - $300,000 effect on equity in a 10,000 delta position size.

Some of these numbers change when the call is added, but not materially, and introduced additional numbers for consideration.

This is the terms in which risk should be viewed.

 

[burglar]

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

There is no need for risk management in fictional hindsight trades Samuel. ...

If I did the trade and then I posted.
And then travelled back in time and changed my mind about the trade, ...
Am I a time traveller or what?

 

[Alvin Purple]

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

Samuel and burglar:

Sorry, wayne_L has beaten me to the punch. His explanation is excellent and there is nothing I can add.

The outcome was not quite what I expected, but as so often in life, you don't always get what you want.

I was hoping not to get stopped out and for the price to increase to $180.00 at expiry. This way I would have made $14.75 from the CFDs, and $8.00 from the calls. As it turned out, I made $6.75 from the CFDs and $8.00 from the calls, out of which I had to pay brokerage and a bit of interest for the money I had borrowed to buy the CFDs. Had the price risen above $180.00, for every dollar I would have lost on the calls, I would have made a dollar on the CFDs, so the result would have been the same.

And burglar, I just cannot understand how you and wayne_L can call it a hindsight trade when the trade still had 4 days to run after I posted it.

I'll give you another example: Saturday morning (November 9) about 1.30 a.m. the investment world was abuzz with reports that a deal between Apple and China Mobile was imminent.I looked at the AAPL chart and noticed that the price had bottomed and the indicators looked bullish. Another candidate for delayed options writing I thought, so I bought AAPL CFDs at $512.90, set the S/L at $511.00 and went to bed.

In the morning, about $7.30 a.m. I looked at the chart again and noticed that the price had risen to $520. So I sold the November calls (expiring on November 16 at 8.00 a.m.), strike price $530.00 for a premium of $1.90. And I moved the S/L to $516.00 (risk management is very important, you know).

So, for the next 5 days I'll be watching AAPL about once or twice a day. The ideal situation would be that the price ends up at $530.00 on expiry but it most likely won't. However, I know, that no matter where the price ends up, I'll make some money.

Remember, this trade has 5 days to run, so, please, don't call it a hindsight trade, but you probably will anyway.

 

[wayneL]

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

Daniel

Describing what you have purported to have done the night before, the next day, is not a live trade, as it can be constructed in retrospect, irrespective of the expiry date.

This is what you have done with all your supposed trades. I suspect you know this, but are playing people for fools. Of course some people are fools, which is why the seminars are a success. There are very few fools here however.

A genuine live trade is posting the trade no more than a few minutes after it is taken, with additions posted as they happen (IE a few minutes afetr to allow for time for posting).

You see I bought 100,000 FCX CFDs at the Friday session open for $35.65. Near the end of the session with FCX @ $36.50, I sold a synthetic short (short 1000 x 37 Nov Calls, Long 1000 x 37 Nov Calls) to lock in $85k profit to be collected next Saturday.

If you want a broker's statement, I'll post one just like you did earlier in this thread.

 

[wayneL]

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

Daniel

Oh sorry bro, I forgot you are known by a nom de plume here on ASF.

Alvin it is.

 

[Samuel]

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

Alvin,

You failed to mention how many contracts you bought this time but I am guessing another 10,000. I know you've had no losses but does your trading methodology regularly set stops at 0.37% away from the share price?

BTW, how much did you make last week on your TSLA buy write?

 

[burglar]

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

... Am I a time traveller or what?

I don't believe in time travel.
So I guess that makes me a novelist.

 

[Alvin Purple]

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

Alvin,

You failed to mention how many contracts you bought this time but I am guessing another 10,000. I know you've had no losses but does your trading methodology regularly set stops at 0.37% away from the share price?

BTW, how much did you make last week on your TSLA buy write?

Samuel oh Samuel, did you not see my post where I told you that I made $6.75 on the CFDs and $8.00 on the calls?

And the stop is set where I think is the most appropriate level considering all the circumstances. As soon as the trade has moved a reasonable distance into profit, the S/L is moved to a level which locks in some of that profit. But you knew all that, didn't you?

The number of CFDs I buy is immaterial because the principle is the same whether you buy 100 or 1000 or 10,000 CFDs (except that the brokerage becomes a bit expensive at the lower numbers because there is a minimum brokerage amount). But if you must know, with TSLA I bought 10,000 CFDs, with AAPL I bought 5,000 because I did not want to overextend myself. I only allow myself a certain percentage of my total account balance per trade since I want to be able to enter other trades while the first trade is running. It's called "diversification" and is an important component in my risk management.

All we have to do now is wait until Saturday to see how the AAPL trade pans out. If other trades come up during the week and if I take them, I will post the fact within a few minutes of me taking the trade so that there cannot be any more talk of "hindsight" trades.

 

[Alvin Purple]

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

Samuel, wayneL has described risk management very extensively in a recent post. I couldn't have said it better myself. And I am not in the habit of repeating the same message over and over again. If you want to study risk management in detail I can only refer you to the books wayneL recommended.

 

[kid hustlr]

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

I truly believe this is one of the best levels I've seen on the net. Brightens up my day reading this each morning it actually does make me laugh at loud.

 

[Alvin Purple]

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

Samuel, I don't understand why you even have to ask such a question.

Last night, being a Monday night, I stayed up a bit longer than usual because I knew I could sleep in this morning. When I got stopped out at $516 (with a $3.00 profit) I watched the market a bit longer and saw AAPL bottoming out at $515.00. So I bought all the shares back at $514.90, set the S/L at $513.00 and went to bed. When I got up this morning about 10.00 a.m. I noticed that AAPL had risen to $519.05, so I was in profit again. Tonight I won't stay up as long (in fact I will be turning in shortly) but before I go to bed I will move the S/L to $517.00.

There is nothing I will have to do about the calls. I sold them for $1.90 and because the share price is still a fair way away from the $530.00 strike price and also because of the time decay those calls are worth only about half what I sold them for. My current intention is to let them expire this weekend. Should AAPL rise above the strike price by then, there is still nothing to worry about because they are "covered" calls (covered by the AAPL shares I still hold).

So you see, I can sleep without a worry in the world tonight. Tomorrow morning, after a good night's sleep, I will decide what to do, if I have to do anything at all.

I am looking forward to tomorrow for another reason as well. At 10.00 a.m. I have an important date with a fascinating young lady.

'night all!

 

[minwa]

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

If other trades come up during the week and if I take them, I will post the fact within a few minutes of me taking the trade so that there cannot be any more talk of "hindsight" trades.

So what happened with the AAPL trade where you "bought" shares just after it bottomed. Why did you not post it a few minutes later after you saw it "bottomed" and bought ??

Anyone can buy right near the low on hindsight bragging about it.

 

[Alvin Purple]

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

minwa, you just don't get it, do you?

There is no bragging involved. Anyone with half a brain can see that there is no way I can lose on this trade when it concludes Saturday at 8.00 a,m.

 

[minwa]

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

Yeah because you entered in the prices after the fact, obivously it is unloseable trade.

Don't avoid my question why did you not post the trade right away after you said you would in previous post ??

 

[Alvin Purple]

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

In twenty minutes when the market opens I will observe what happens. The S/L is still at $517.00. If I get stopped out, I will simply rebuy at a lower level with a S/L about $2.00 below that. If I don't get stopped out and the price climbs, I'll just let it run and collect my profit on Saturday and if the price stays below $530.00 I'll also collect the profits on the calls.

Now I have told you what I am going to do, well before I do it. Happy now?

 

[prawn_86]

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

Anyone with half a brain can see that there is no way I can lose on this trade when it concludes Saturday at 8.00 a,m.

And that sums it up just there. Once again Daniel/Alvin claims to have broken financial physics and is gaining reward with no risk

 

[Pure Silk]

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

Samuel, I don't understand why you even have to ask such a question.

Last night, being a Monday night, I stayed up a bit longer than usual because I knew I could sleep in this morning. When I got stopped out at $516 (with a $3.00 profit) I watched the market a bit longer and saw AAPL bottoming out at $515.00. So I bought all the shares back at $514.90, set the S/L at $513.00 and went to bed. When I got up this morning about 10.00 a.m. I noticed that AAPL had risen to $519.05, so I was in profit again. Tonight I won't stay up as long (in fact I will be turning in shortly) but before I go to bed I will move the S/L to $517.00.

I've been following this trade closely. A bit Confused. According to my IG Platform chart (attached), AAPL traded at $517 during the first minute of market open 13/11 @1.30am, just over 3 hours after the above post. I presume Alvin would have been stopped out. When did he re-enter and at what price? The price rose to $523.32 at around 2.30am and had a low of of $518.27 for the session all the while Alvin was asleep. Alvin, your latest post does not mention this.
The same thing happened this morning 14/11 @1.39am, market dipped on open hitting $516.90 so Alvin would have been stopped out again. Unless my chart is lying and Alvin's first stop did not get triggered, a clarification is needed simply for the benefit of those following this trade to its completion on Saturday @8am. If any of my observations above are incorrect, I stand to be corrected and apologise.Thanks.