Daniel Kertcher/Trading Pursuits - Serious or Scam?

[Garpal Gumnut]

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

Dear Garpal Gumnut,


When I decided to do Daniel's course I did my due diligence and when I found that he was not on any authority's "Wanted" list, I was happy to part with my $3200 and I am glad I did. I have never had a losing month and my annualised returns are always well above 30 % p.a. (and I mean very well above). My initial investment has been returned to me one hundredfold.

Proof Alvin, proof.

Talk is cheap Alvin.

gg

 

[Alvin Purple]

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

Dear Gumnut,

whatever do you mean?

Didn't I just tell you that Daniel's system works well for me?

What do you mean by "proof"? How do you prove anything?

I have no axe to grind and I have no particular interest in promoting Daniel, or anyone else for that matter.

I DO know, however, that other traders who did the course with me, and are also following the rules, are achieving similar results to mine.

I ALSO know that some traders who are not following the rules, occasionally make huge profits, but quite often they also make large losses and it appears that their losses are bigger than their profits.

My results are roughly in line with Daniel's AUDITED results. Is an AUDITED result, posted on an official website and subject to scrutiny by the authorities, enough proof for you, Gumnut?

 

[Alvin Purple]

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

Dear wayneL and sails,

what you call leptokurtic I may call platykurtic, but be that as it may, the only proof that matters is in the results.

Why would I be so stupid as to hand over my confidential broker's statement to anyone? Not that I ever would, but if I did, you doubting Thomases would still not believe it and say it was photoshopped (as it could be, of course)

BTW, you are very good at mathematics, the figure of my accumulated profits is almost spot on.

If I posted my trades before I put them on I would be in breach of contract. Surely, you don't want me to break the law, do you?

Daniel, however, does post his trades before he puts them on in his Monthly Income Report to which his students can subscribe for an annual fee of $490.00.

His results are AUDITED and published on his website where they are open to scrutiny by the authorities. I am not aware that any of the Australian authorities has ever questioned Daniel's AUDITED results.

Now, wayneL and sails, I don't know whether this is enough proof for you, but that is all there is.

As we are just about halfway through the February trades, I did a quick check and found that I am on track for another good monthly result, somewhere in the vicinity of $10K, and that is net of all costs.

Have a nice day, all.

Alvin Purple

 

[wayneL]

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

Dear wayneL and sails,

what you call leptokurtic I may call platykurtic, but be that as it may, the only proof that matters is in the results.

Why would I be so stupid as to hand over my confidential broker's statement to anyone? Not that I ever would, but if I did, you doubting Thomases would still not believe it and say it was photoshopped (as it could be, of course)

BTW, you are very good at mathematics, the figure of my accumulated profits is almost spot on.

If I posted my trades before I put them on I would be in breach of contract. Surely, you don't want me to break the law, do you?

Daniel, however, does post his trades before he puts them on in his Monthly Income Report to which his students can subscribe for an annual fee of $490.00.

His results are AUDITED and published on his website where they are open to scrutiny by the authorities. I am not aware that any of the Australian authorities has ever questioned Daniel's AUDITED results.

Now, wayneL and sails, I don't know whether this is enough proof for you, but that is all there is.

As we are just about halfway through the February trades, I did a quick check and found that I am on track for another good monthly result, somewhere in the vicinity of $10K, and that is net of all costs.

Have a nice day, all.

Alvin Purple

Lulzzzzzzzzz.

 

[skyQuake]

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

lol, had a look at Spectrum Live who do charge some interest rates:
High vol customers do get 25-50% off though.

Aus stock CFDs: 20bp, min $30.
expensive.

ASX S&P 200 Index CFD: $20 ticket fee and 4pt spread?
Holy crap

US Oppies: $2/contract
IB charges 25c-75c


FX spread:
AUDUSD 5
EURUSD 5
USDJPY 5

nuff said.

 

[wayneL]

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

Dear wayneL and sails,

what you call leptokurtic I may call platykurtic, but be that as it may, the only proof that matters is in the results.

Why would I be so stupid as to hand over my confidential broker's statement to anyone? Not that I ever would, but if I did, you doubting Thomases would still not believe it and say it was photoshopped (as it could be, of course)

BTW, you are very good at mathematics, the figure of my accumulated profits is almost spot on.

If I posted my trades before I put them on I would be in breach of contract. Surely, you don't want me to break the law, do you?

Daniel, however, does post his trades before he puts them on in his Monthly Income Report to which his students can subscribe for an annual fee of $490.00.

His results are AUDITED and published on his website where they are open to scrutiny by the authorities. I am not aware that any of the Australian authorities has ever questioned Daniel's AUDITED results.

Now, wayneL and sails, I don't know whether this is enough proof for you, but that is all there is.

As we are just about halfway through the February trades, I did a quick check and found that I am on track for another good monthly result, somewhere in the vicinity of $10K, and that is net of all costs.

Have a nice day, all.

Alvin Purple

1/ I don't think anyone could reasonably call leptokurtic, platykurtic...unless on time frames that are too short.

2/ You cannot fool the option nerds here with claims of profit, as we are proficient with distributions, delta, gamma etc etc. There are no secrets and all short puts, whether synthetic or natural, whether tricked up with stop losses, guaranteed or not, will conform to distributions as per those Greeks allow.

3/ There is nothing inherently wrong with the short put, but it is picking up pennies in front of a steam roller. It can be learnt for free off the interwebzzz.... sorry if you paid 5k or whatever for it, but what you've got is a convoluted form of a single natural strategy. Many of us, including myself, use the short put (either natural or synthetic) when appropriate.

Hardly any (if any at all that aren't subsidized by seminar clowning) long term traders use it exclusively.

Basic stuff all tarted up like a pox doctor's clerk really.

 

[Alvin Purple]

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

Dear wayneL,

Short time frames? Of course we are talking about short time frames.

delta? gamma? I never worry about those. I look at the alpha and omega and don't bother about the small stuff in between.

Short puts? Where did that come from? I certainly don't use them.

Remember my name is Alvin Purple, and if you have seen any or all of my movies (and I hope you have, most people have, you know) you'd know that I'm a simple character, I certainly don't like complicated stuff.And that is why I like Daniel's recommendations: Short, simple and straight to the point. And most important of all: very profitable.

Btw, I did not pay $5000, I paid $3200, and, as I said, this has paid off 100 times over.

In the end the only thing that matters is how much profit you make each month. And if you, like I, make in excess of $10K a month consistently, then you are doing better than 95 % of traders.

I kept my reply as simple as possible, so that even you can understand it.

Have a really nice day,

Alvin Purple

 

[Alvin Purple]

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

And another thing, dear wayneL and sails,

you both keep harping on about NAKED OTM PUTS.

Have you any idea what Daniel is teaching?

While Daniel mentions PUTS in passing, he mainly teaches trading with COVERED DEEP-IN-THE-MONEY CALLS.

COVERED is the opposite of NAKED
OTM is the opposite of ITM
PUTS are the opposite of CALLS.

So there!!!

 

[prawn_86]

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

Btw, I did not pay $5000, I paid $3200, and, as I said, this has paid off 100 times over.

So you have made 3.2 million? I would love to see a broker statement proving this.

 

[Garpal Gumnut]

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

Proof Alvin, proof.

Talk is cheap Alvin.

gg

Dear wayneL,

Short time frames? Of course we are talking about short time frames.

delta? gamma? I never worry about those. I look at the alpha and omega and don't bother about the small stuff in between.

Short puts? Where did that come from? I certainly don't use them.

Remember my name is Alvin Purple, and if you have seen any or all of my movies (and I hope you have, most people have, you know) you'd know that I'm a simple character, I certainly don't like complicated stuff.And that is why I like Daniel's recommendations: Short, simple and straight to the point. And most important of all: very profitable.

Btw, I did not pay $5000, I paid $3200, and, as I said, this has paid off 100 times over.

In the end the only thing that matters is how much profit you make each month. And if you, like I, make in excess of $10K a month consistently, then you are doing better than 95 % of traders.

I kept my reply as simple as possible, so that even you can understand it.

Have a really nice day,

Alvin Purple

So you have made 3.2 million? I would love to see a broker statement proving this.

Your skill has left me near speechless Alvin.

One wonders why you post, with such millions for such little effort.

I can only quote Katharine Whitehorn, a noted wit.

"The great rule is not to talk about money with people who have much more or much less than you."

And to add, " and with people who recognise bull**** about making money "

gg

 

[wayneL]

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

And another thing, dear wayneL and sails,

you both keep harping on about NAKED OTM PUTS.

Have you any idea what Daniel is teaching?

While Daniel mentions PUTS in passing, he mainly teaches trading with COVERED DEEP-IN-THE-MONEY CALLS.

COVERED is the opposite of NAKED
OTM is the opposite of ITM
PUTS are the opposite of CALLS.

So there!!!

So for $3200, DK didn't even teach you option pricing theory, put-call parity and synthetic relationships?

Good God man, spend another $50 and buy yourself a basic option book and education yourself.

Put = call.... read up on it. LOLOL.

 

[skyQuake]

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

delta? gamma? I never worry about those. I look at the alpha and omega and don't bother about the small stuff in between.

Saved for posterity

 

[sails]

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

And another thing, dear wayneL and sails,

you both keep harping on about NAKED OTM PUTS.

Have you any idea what Daniel is teaching?

While Daniel mentions PUTS in passing, he mainly teaches trading with COVERED DEEP-IN-THE-MONEY CALLS.

COVERED is the opposite of NAKED
OTM is the opposite of ITM
PUTS are the opposite of CALLS.

So there!!!

Oh this is so funny...

Do you not know that covered deep-in-the-money calls have the same risk profile as a naked otm put? Do you ever look at a risk graph? Do you understand synthetic relationships in options?

I read one of Charles Cottle's books which turned the lights on for me. If you think naked otm puts are too risky to trade but you are trading covered deep ITM calls, then you have no idea of the risk you are taking on. And, if you are borrowing for your shares to cover your itm calls, you will be paying considerably more in interest than what you would pay for an otm put. AND you will be paying more brokerage with two positions instead of one and often shares are way more expensive in brokerage.

But that's OK - you are making money for your broker and your lender. Remain ignorant, but don't make a bigger fool of yourself. Get properly educated in options if you are going to trade them. And I mean that sincerely.

 

[Alvin Purple]

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

That is for all of you:

I have just realised where your problem is:

I have never claimed to have made millions. What I have said, and what I keep saying is that my course fee of $3200 has been returned to me one hundred fold, that is I made $320,000.00.

Your mathematics leave a lot to be desired if you can't carry out a simple multiplication. One of you brainiacs comes up with a figure of $3.2 million and none of you other brainiacs picks it up.

Why the heck would I want to learn more about option theory? Grey, my friend is all theory (who said that?)

Daniel teaches practical options trading, it's a system that works and thousands of his students make money with it.

As I said before, I am Alvin Purple and I am a simple character and I certainly don't like to complicate simple things. I do as I am told and at the end of every expiry period I just collect my money.

By the way, brokerage on both shares and options is a negligible amount and the money I borrow to buy CFDs only costs 2.71 % p.a. in interest. When you are consistently making 30% p.a.+, month after month, these small amounts are not a problem.

Take this month, for example. Expiry is in three days from now and ALL of Daniel's trades for February expiry are in profit. So, come Saturday morning, I'll be collecting another $10K+.

And guess what? While you guys are worrying about gammas and deltas and kappas and lamdas, and theorising about synthetic stuff and what have you, I will simply be studying Daniel's recommendations and place my trades for March next Monday or Tuesday.

Have a really nice day, you all.

Alvin Purple

 

[prawn_86]

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

. When you are consistently making 30% p.a.+, month after month, these small amounts are not a problem.

So at what stage/size does this fabled strategy no longer work?

If you are making 30% pa consistently then you are amongst the best traders in the World and should be leveraging up working for a hedge fund which pays you a salary of tens of millions of dollars....

 

[wayneL]

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

LOL

Alvin,

I every endeavour there are four stages of competency

1/ The unconscious incompetent - That is to say the person who doesn't know what they don't know.

2/ The conscious incompetent - That is to say the person who knows that there is lots they don't know.

3/ The conscious competent - That is to say the person that knows lots but has to think about it.

4/ The unconscious competent - That is to say the person for whom it is all second nature.

In the options world, you are at stage one. This is the only way to explain that you eschew the knowledge to quantify risk and reward via the Greeks. This is important in non-linear instruments such as options.

*********

As discussed, deep ITM covered calls are simply a synthetic naked put, a very simple strategy known and used occasionally by options traders and professionals the world over.

It is a valid strategy to be used when market conditions suit, but it is no panacea, otherwise all professionals would just trade naked puts or it's synthetic equivalents systematically every month....

They just don't.

These are smart guys and gals... smarter that you or Daniel.

Do you think they might know something you don't?

You'll collect most months Alvin, that is the probability characteristics of the strategy. But that is actually irrelevent, believe it or not.

What matters is the total losses versus total gains, AKA the expectancy equation... it is snatching pennies from the lion's mouth.

How will you cope when the market chomps down on your arm?

 

[waza1960]

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

Alvin,

I every endeavour there are four stages of competency

1/ The unconscious incompetent - That is to say the person who doesn't know what they don't know.

2/ The conscious incompetent - That is to say the person who knows that there is lots they don't know.

3/ The conscious competent - That is to say the person that knows lots but has to think about it.

4/ The unconscious competent - That is to say the person for whom it is all second nature.

Thats pure gold .....are you sure there's not a preceding category for Alvin lets see.....
The ignorant unconscious incompetent- That is to say the person who doesn't know what they don't know doesn't care and tells everybody they know everything

 

[wayneL]

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

For instance, if not via the Greeks, how does one quantify the non-linear risks and rewards of the naked put (or synthetic equivalents) as opposed to the linear RR of the underlying.

Naked put traders (negative Gamma) have made easy profits this last period in the market, but linear instrument (and positive Gamma) traders have done so much better. See my blog for real time evidence of this.

 

[ftw129]

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

Alvin,

Would you at all be kind enough to post your results here on a monthly basis?

Could you include the actual trades as well?

Please understand that this is not to question your sincerity. It would be great for all to see just how Daniels strategy copes over the long run.

 

[wayneL]

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

Thats pure gold .....are you sure there's not a preceding category for Alvin lets see.....
The ignorant unconscious incompetent- That is to say the person who doesn't know what they don't know doesn't care and tells everybody they know everything

Hmmm, I suppose there should be a category for the intentionally incompetent.