Daniel Kertcher/Trading Pursuits - Serious or Scam?

[wayneL]

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

Are we going to get these bs testimonials on a weekly basis?

As this thread ranks highly on Google, I suspect so.

 

[Wysiwyg]

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

To cut a long story short,last year my husband and I made over 500k using Forex trading strategies based on Daniel's courses. And this was without really trying too hard.

And lost 499k. Ha ha b.s. artist.

 

[Ruby]

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

To cut a long story short, last year my husband and I made over 500k using Forex trading strategies based on Daniel's courses. And this was without really trying too hard.

We havent traded for a few months because we are busy with a couple of businesses we have. However we will trade again when those settle down again.

Oh.....MrsClark, MrsClark!!! Why oh why, if you are making $10K a week, "without trying too hard", would you give such a successful business to concentrate on other, (less successful) businesses requiring much more time and energy?

That doesn't sound like a very good business choice to me!!

 

[wayneL]

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

And lost 499k. Ha ha b.s. artist.

Oh.....MrsClark, MrsClark!!! Why oh why, if you are making $10K a week, "without trying too hard", would you give such a successful business to concentrate on other, (less successful) businesses requiring much more time and energy?

That doesn't sound like a very good business choice to me!!

From the "How to bulls#it 101" tape set (Which I will sell to you all for $4000 ): Make it believable.

If Daniel's goon here had said we were making $120,000 p/a, some suckers might have believed it.

The goon might as well have said $5 billion a year.

 

[Garpal Gumnut]

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

His name is David, not Daniel. When he was a kid that's what we used to call him.

He started using Daniel later.

At least get it right spammers.

gg

 

[mazzatelli]

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

As this thread ranks highly on Google, I suspect so.

I noticed the next hit on Google's list doesn't have very favourable things to say either.

This thread seems to favour a long and torturous bout rather than the quick death of that other options "guru" thread. :

 

[Garpal Gumnut]

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

I noticed the next hit on Google's list doesn't have very favourable things to say either.

This thread seems to favour a long and torturous bout rather than the quick death of that other options "guru" thread. :

And the more that is posted the higher it goes on the google list.

gg

 

[Shanpwl]

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

Guys and gals,

Reading through these posts there is clearly a collective of combined experience, trading the markets with a variety of methods and opinions.

I am a novice, have never traded and don't have a concept of the markets, CFDs vs Options etc. I was thinking of doing a course to educate myself on strategies to trade in the markets, solely for the purpose of creating a stream of residual income (I am not that naive that I believe I will be able to retire from my job after 12/ 24 months by substituting my income through trading).

I would love feedback from the forum on what you believe is/ are the best course/s for a beginner, what strategies you believe are the lowest risk for the best return (if it exists), and any other advice you would share with me based on your own experience i.e what would you have done differently if you were able to start again?

Thanks in advance

 

[Mekanoid]

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

Shanpwl, I went to the Trading Pursuits seminar on Monday in Melbourne... Daniel's brother ran it and it was pretty slick. Obviously whatever motivational/NLP processes they use work as I was 90% ready to sign up!

After reading these forums I find myself in the same position as you... wondering A. whether what I'd learn at the seminar could actually work (reading the great threads on this forum suggest otherwise, or that there's less complex ways to acheive the same strategy.. and B. that maybe this field is not for the average punter (Trading Pursuits target audience) and that there's years of education required before one jumps into options (and/or covered calls with CFD etc).

Anyway... I just picked up a copy of Options as an Investment Strategy but I'd also love to attend some kind of educational forum as we all learn in different ways and the face to face method is hard to beat.

Hoping you get some good replies to your question!

Guys and gals,

Reading through these posts there is clearly a collective of combined experience, trading the markets with a variety of methods and opinions.

I am a novice, have never traded and don't have a concept of the markets, CFDs vs Options etc. I was thinking of doing a course to educate myself on strategies to trade in the markets, solely for the purpose of creating a stream of residual income (I am not that naive that I believe I will be able to retire from my job after 12/ 24 months by substituting my income through trading).

I would love feedback from the forum on what you believe is/ are the best course/s for a beginner, what strategies you believe are the lowest risk for the best return (if it exists), and any other advice you would share with me based on your own experience i.e what would you have done differently if you were able to start again?

Thanks in advance

 

[prawn_86]

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

Why pay for something that you can get for free with a bit of minimal research?

 

[So_Cynical]

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

There is a certain % of the population that want easy answers, everything served up to them on a silver plate and they believe that they can pay someone to provide them with the "secrets" to wealth and success.

And there is a certain % of the population of Nigeria and Australia that is ready and willing to feed there dreams, desires and delusions....and the vast majority of us watch on in bewilderment.

Platinum Pursuits, Golden Desires, Dream Builders...but never Dangerous Delusions.

 

[Pager]

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

Some people go to these introductorily seminars and see trading presented as being a very easy way to make a few $ and believe it, now maybe what Platinum Pursuits and Daniel Kercher offer is something that may well work but IMO what people forget is trading is a business and business = work, then there is the physiological effect it has on you particularly during drawdown, but people sign up and after a few weeks or whatever they start drifting or complaining its not working as promised, during the introduction seminars very little time is given to what happens most in trading and that’s going sideways or drawdown, from my experience anyway the leaps and bounds your account makes with the winners are always short lived and its just a matter or staying the course and keeping your losses small until the next big fish is hooked.

I think people who succeed at trading have an interest in trading that goes beyond just making money, Platinum pursuits, safety in the market, optionetics etc etc all may well be viable its just the majority will soon tire of them as there not always hitting new equity highs or even the fact it takes only 30 mins a day to place your orders etc and will be too much for some, just like all the people who keep going on the different diets but never seem to lose the weight.

Personally I would not do any of these courses there’s enough resources on the internet but that comes down to time looking and reading, trying different things, if your interested its enjoyable to do and research if your not, and your just looking to make easy money well IMO, your doomed

 

[merino]

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

Thanks Matto. I have also done Daniel's CFD course. I find your review to be informative and accurate.
I took the path of writing calls on some of their picks and found that I paid the course of quickly.
As a learner in covered call writing the course appealed to me because I was interested in having exposure to different stocks with a known risk factor without owning the stock. Like you I have since learned a great deal about US stocks and found some of Platinum Pursuits information useful.
It would have been good if Platinum Pursuits had included more informative information in their advertising.
I hope many people read what you have written.
Excellent and thank you
Merino

 

[alocineel]

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

Interesting to see this thread pop up.
I have subsequently done a Finance degree, learnt all about derivative securities, and how to derive the Black-Scholes option model and all sorts of interesting things about portfolio management and quantitative trading strategies.

So I can thank Daniel for being an interesting speaker, although I think his presentations and trading strategies were never going to provide a trading edge.

Interesting Maffu, I too went & did a finance degree with quant,pm,currencies etc & loved it!!
Not sure about the uni u went to but I now have a $25k Hecs debt + course expenses + time without wage(say $60k/yr) etc - quite pricey huh.
Just wondering if I had gone & posted that I finished a $210k course with no absolute garauntee of a wage & I got taught pretty much the same info as several hundred others that yr - what sort of reaction that might get from people?
Its taken 3 years of a** kissin and playing the corporate bs game to even pull in 6 figures. So am I better off for it??? Well at least the course was good & it definately wasn't a scam right??

So my point(if I even have one) is that just cause a course costs a couple grand doesnt mean it should be labelled scam. Yes Daniel's is definately a 'scheme'(went to an info night some yrs back) just to clear that up!!

I am currently looking for a 1-2-1 mentor to try and 'help' me(not make me, thats my responsibility) go from a PT trader to FT & making a decent wage. But people want to know what it costs before they find out who Im even considering which I think to be a bit odd.
Is there anyone that comes recommended as a mentor? There is plenty written about what stuff not to touch, but nothing on what is good. Am assuming it may be that if they are a good mentor, then the less that know, the better??

Cheers

 

[builder2818]

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

Interesting Maffu, I too went & did a finance degree with quant,pm,currencies etc & loved it!!
Not sure about the uni u went to but I now have a $25k Hecs debt + course expenses + time without wage(say $60k/yr) etc - quite pricey huh.
Just wondering if I had gone & posted that I finished a $210k course with no absolute garauntee of a wage & I got taught pretty much the same info as several hundred others that yr - what sort of reaction that might get from people?
Its taken 3 years of a** kissin and playing the corporate bs game to even pull in 6 figures. So am I better off for it??? Well at least the course was good & it definately wasn't a scam right??

So my point(if I even have one) is that just cause a course costs a couple grand doesnt mean it should be labelled scam. Yes Daniel's is definately a 'scheme'(went to an info night some yrs back) just to clear that up!!

I am currently looking for a 1-2-1 mentor to try and 'help' me(not make me, thats my responsibility) go from a PT trader to FT & making a decent wage. But people want to know what it costs before they find out who Im even considering which I think to be a bit odd.
Is there anyone that comes recommended as a mentor? There is plenty written about what stuff not to touch, but nothing on what is good. Am assuming it may be that if they are a good mentor, then the less that know, the better??

Cheers

I'd say the degree was worth it as there is no way in hell you would get a job by quoting Kertchers courses on your resume.

Considering the top trading firms want the top maths whiz's i'm gathering you don't work for one of them if your aspirations are to become a full time trader.

 

[davlaw]

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

Daniel Kertcher was a licensed representative of a company called "Mastering Wealth Pty Ltd, in Sydney.

Anyone want to hear about it?

I put 50k in his fund (Platinum Pursuits Growth Plus Hedge Fund) and three years later it had grown to 3k - it is now closed (Oct/Nov 2010)money refunded to all the punters.

 

[tracernet]

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

Thank you for this very useful review. I'm currently considering this course and am actually quite surprised that you HAVE TO purchase the MarketAnalyst tool. You would think that you can calculate the returns yourself.

What happens if you don't pay the $888 per year - don't they give you access to the website?

Cheers

You don't have to purchase Market Analyst, they just promote it because it integrates nicely with the monthly report and makes life a little easier. I've been running this strategy for 12 months+ and I've only ever used a spreadsheet I made to do the same thing. If you're not confident using spreadsheets, Market Analyst also have Lite version available at a much lower price, but again, I'd use Trading View for free first personally.

 

[tracernet]

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

I recently completed the Platinum Pursuits Tradeability Income course presented by Daniel Kertcher. I was quite apprehensive about it, and that wasn’t helped by the negative comments about Daniel and his company on this and other trading forums. However, it is inevitable that anyone who charges thousands for their courses is going to be treated with suspicion, and the content of the course really had me interested, so I decided to part with my $3,200 and do the course. Now I hope here to provide an insightful and unbiased account of the course and its potential to fulfill its promises for anyone who may be considering undertaking it.

I did this course in Dec 2010 and have been using the strategy. There are some points in this article that need addressing.

However this is a long term strategy and the idea is that over time it should generate a good income.

It does. But don't expect to get rich quick. This is an income style strategy.

The blurb that I got before I did the course was that for the first 3 months of using this strategy (note: this is a very new strategy that only people who have done Daniels course can do as for the moment there is only 1 broker, IG Markets, who allow the strategy and they will only allow access to Daniels students) the return averaged about 12% per month, annualized to around 150% yearly return.

Sprectrum Live is about to (or already does) do this as well with their own pros and cons. Personally I use IG Markets but I don't like how they don't have more options available. Spectrum Live do, but that is only one Pro. 5% return is average, 12+% return is great.

And you can trade using as little as $5,000.

I agree with Matteo, you need about $40k to make the returns interesting. But to be fair to Platinum Pursuits (PP) even if you have $100k, they strenously suggest only starting with $10-20k anyway while you learn. At no stage are they saying ALL you need is $5-10k, they are saying start with this and work at understanding first.

So, things aren’t looking quite as rosy now. I have been trading this strategy now for 2 months on a $20k bank and have so far only entered 5 trades with an avg return of about $50 per trade. I have made about $250.

Not sure what you were doing those months, but you're not following the rules maybe. $50 per trade is pretty miserable. I suspect the GSL is causing you some dramas, but I'm going to address it below.

Also, the strategy sounds simple, but beginners will find it very tricky to get to grips with.

I had zero experience prior to doing this course. The only thing I found "tricky" was using IG Markets platform which isn't covered much in the course. After using it a few times, it all comes together (much like any software).

I have been trading for 8 years and still found it quite nerve-wracking the first time trying to get the returns right. A small move in the share price can turn a reasonable return into a poor one if the option price doesn’t move as well, so you need to be on the ball.

The option's price doesn't tick so much like the share price does, and there is definitely some give in the price movement, but I don't think you're doing something right here. I'd love to desktop share with you on this matter to see what you mean, because I've never found this to be a problem.

You also need to be checking the trades every day because if something goes wrong you have to attend to it.

IG have an Alert function to send you a message directly to your phone if a rule is triggered. Personally I set the trigger around the strike the price and forget about it unless triggered. Only then do you have to consider action. Otherwise this strategy is definitely set and forget.

If you get stopped out you need to decide whether to buy back the option or let it go, or possibly purchase another cfd. Also, you need to subscribe to their income report which is about $450 per year (first 4 months free)

Platinum Pursuits will guide you exactly what they intend to do in this situation. There is no decision if you choose to follow them to the letter. For first time subscribers, that's exactly what I'd recommend and why I'd say $50 or less a month is worth it. Personally I unscribscribed from the list for a the middle of 2011 but have come back to it again. I find just having a list of calls and puts pre analysed is worth the money alone.

and you have to purchase MarketAnalyst software for $888 per year because it has the calculator for the covered calls so you can see the return you are getting. They also forgot to tell us about that……

Let me be clear on this point, YOU DO NOT NEED MARKET ANALYST (MA). I have never bought it or used it. MA is just a charting system and it integrates with the Monthly Income Report (MIR) nicely, but it is not necessary at all. Platinum Pursuits (PP) recommend it to make it easy for people, but I just use a spreadsheet to the same effect. If I need a chart I use the IG Markets in built ones, FinViz or Trading View which are all free.

If you still feel more comfortable using the same systems as PP, MA have a LITE version also which is much cheaper, but keep it free if you can.

On the positive side, the support from PP is excellent. I have had queries which have been answered in depth, and the videos and info on the website are very good. Daniel also appears to be very knowledgeable on the subject and teaches it well.

I concur.

Bottom line: I don’t think what Daniel is promoting is a scam.

A scam it definitely isn't. It works for me... really well.

However I do think there are some serious misrepresentations and I would not be surprised if there were a number of disgruntled people out there. And the truth is that no matter how good a strategy is, probably only 10% of people will make good money from it regardless.

I think the biggest thing people are getting wrong in this thread surrounds the Guaranteed Stop Loss (GSL). The GSL is 3% of the value of the stock so yes, if you are targeting a stock that returns 5%, a GSL may not feel like a great way to get the stated returns represented by the company. BUT.... the GSL is a one time only fee. If you roll over the same stock next month, with a new 5% call option, you get the full 5% AND the GSL. You only lose the GSL when you sell the stock (or get stopped out). The only downside from there is that PP may not continue keeping your GSL stock on their list, but that doesn't mean you can't.

Next, you can't set a GSL within 10% of a stock price so it forces you to have a decent buffer in the first place which I like. Yes, if you want bigger returns, do the GSL when the volatility is high, but keep it ongoing when the volatility is low and everything they say is therefore true. But doesn't that make sense anyway, take out insurance when things are really unpredictable and benefit from it when things are easy...

Do I regret doing the course? No. As a result of doing the course I have opened myself up to the US market which I have never traded before, and so far the trades I have made have paid off a fair bit of the course costs. With a larger bank the strategy would be much more attractive, so it is something that I believe will reward me down the track. Would I recommend it to a friend? Probably not, unless they had a large bank to invest and had the right mindset to approach it with. It certainly has the potential to be quite lucrative for the right person.

Correct, either wait for compound interest to build up a lot, or plow as much as you can afford into it once you are confident with the strategy. Note the PP say start with this amount, not it's all you need.

 

[wayneL]

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

tracernet,

Why not just trade OTM short puts?

 

[Trojan]

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

It is not widely known, but Daniel Kertcher's Platinum Pursuits Growth Plus Hedge Fund made no money ($0) in over a year of active trading using all the same strategies he teaches. He was overseeing every trade. All the while, he was charging the public thousands of dollars per participant to attend his seminars to learn how to create wealth in the share/options market?!

Mr Kertcher then handed the Fund over to a company called Mastering Wealth under director Mr Bill Ryan whom he worked with. That company, operating in Castle Hill NSW, lost 95% of public investment capital using all the same strategies they teach and without capital protection.