Stolen strategy!

Harrystyles

Junior member
10 1
I was thinking along the same lines:LOL:

If you had a sure fire rip snorting way to make money then why trade in a prop shop? Why not go it alone? And I am sure you are not writing in the hope that people might pm you to bid for your "system" and I am probably being cynical thinking that this could be a build up to a sales pitch. After all, it's nearly Christmas and people really believe in good will to all men :innocent:

You cynical lot! Haha

No I'm not selling my system.... However since we're on the subject you can check out my new book now on amazon 'get rich quick with Harry' & look out for my upcoming seminars of the same name ;)
 

neil

Legendary member
5,167 749
You cynical lot! Haha

No I'm not selling my system.... However since we're on the subject you can check out my new book now on amazon 'get rich quick with Harry' & look out for my upcoming seminars of the same name ;)

Will do Harry, thanks for the tip;)
Merry Christmas:)
 

counter_violent

Legendary member
11,283 3,005
Unfortunately pretty much all my trading is high-volume so I'm a bit limited in where I can trade as I need real low rt costs. Anyone know of any prop firms which may be able to offer this (although it may be a big assumption that I wouldn't have the same problem elsewhere?!)?

Alternative backing sounds interesting although (embarrassingly :eek:) I'm not sure what you mean by an 'audited' track record exactly? Verified by an accountant?!

Many thanks for the help so far guys.

Well, google is your best friend :)

https://www.google.co.uk/?gws_rd=ssl#q=Financial+backing+for+traders

http://marketsci.wordpress.com/2008/08/07/if-it’s-not-audited-it-doesn’t-count/
 

Harrystyles

Junior member
10 1
Cheers guys.

For those self-backed prop traders out there; would being self-backed prevent the office rIsk-managers from going through my trades? I.e. If I'm not trading the prop-firms money can they still legitimately go through my orderbook/trades to 'check my risk?'

I'm damn sure 'ethical considerations' won't stop them! :sneaky:
 

rawrschach

Experienced member
1,223 277
you would still be on the same risk system and they would still see everything as you can lose more than you deposit and that would obviously affect them.

you could approach kyte and clear with them/trade from home and see if you get the same problem. If you're high volume check the rates US brokers can offer and see if they can match what you get.
 

rawrschach

Experienced member
1,223 277
Dunno if they still offer it but Kyte had this thing called ibet where you trade DMA as usual but then they 'repackage' your trades as a spread bet i.e. tax free. Not sure if they still do it.
 

scot_36

Newbie
1 0
Dunno if they still offer it but Kyte had this thing called ibet where you trade DMA as usual but then they 'repackage' your trades as a spread bet i.e. tax free. Not sure if they still do it.

Thanks rawrschach I'll check that out. Out of interest are you trading at a prop shop out in Barbados?!
 

DT

Well-known member
312 39
if your 'strategy' is just some edge you're able to exploit manually and someone can figure out what you're doing just by eyeballing your trades then, assuming it works well, it is potentially going to be copied/exploited anywhere... if someone is consistently making money then people are naturally going to be interested/curious - whether that is the risk people at your prop firm or if you were trading independently, some IT guy at a brokerage... some vendors could potentially look at your trades even

maybe someone has let other people know, maybe the markets have changed/evolved and whatever you observed isn't as inefficient, maybe other people have spotted this inefficiency independently - if you've found something obvious to exploit then others will likely find it too anyway regardless
 

MajorMagnuM

Legendary member
9,284 888
i know the author of yr fave book
 

DionysusToast

Legendary member
5,963 1,501
Hi all,

Not 100% I'm posting in right section here but I'll get straight to the point:

Without going into too many details I've got a strong suspicion that the prop firm whom I trade with have figured out my strategy and distributed it to some other traders (who they back).

1. Anyone else experienced anything similar to this?!
2. Is there ANYTHING I can do about this (fairly sure I know the answer but ANY advice on action I could possibly take would be great - I worked damn hard on that strategy for it to just be nabbed!)
3. Any ideas on how I can protect myself from this in the future?

Kind Regards,

Harry.

What does your contract say about it?


Lot's of contracts in lots of industries have disclosure/intellectual property clauses and they are usually slanted heavily in favor of the employer.

As for alternatives - where are you located and which market are you trading?
 

Harrystyles

Junior member
10 1
What does your contract say about it?


Lot's of contracts in lots of industries have disclosure/intellectual property clauses and they are usually slanted heavily in favor of the employer.

As for alternatives - where are you located and which market are you trading?

I can't remember anything in the contract re intellectual property but I certainly have a browse through it again, thanks for the thought DT.

Located in uk currently, trading quite a few markets inc. fixed income, STIR's, metals, Ag's, soft's, energies... Basically anything where my system will work and I can get cheap enough costs!
 

NVP

Legendary member
37,767 2,101
Hi all,

Not 100% I'm posting in right section here but I'll get straight to the point:

Without going into too many details I've got a strong suspicion that the prop firm whom I trade with have figured out my strategy and distributed it to some other traders (who they back).

1. Anyone else experienced anything similar to this?!
2. Is there ANYTHING I can do about this (fairly sure I know the answer but ANY advice on action I could possibly take would be great - I worked damn hard on that strategy for it to just be nabbed!)
3. Any ideas on how I can protect myself from this in the future?

Kind Regards,

Harry.


ive had loads of stuff "stolen" from me over years .......:cool:

don't worry about it ..............truth ? ........theres no such thing as an original strategy anyway .:p.......was your strategy all yours or ideas borrowed from other traders ? :sneaky:

N
 
 
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