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Midway florida
Posts: 243 since May 2021
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Hello community,
This thread is to help all of us non programmers get a little clued in on the ins and outs of hiring a programmer.
If you have an idea for an indicator chart type or type of execution automation and you hire someone what are typical costs and how do you protect your idea from them in order to get a realistic estimate for costs.
Once they have programmed it for you do they keep the license to resell it or do they give that code to you and it is yours.
As trading and the world in general gets even more electronic and automated it is important for traders to have a little a common knowledge on the process costs and legalities of contracting a programmer. I hope people chime in on this post with some solid information.
Here is my current situation. I wanted a new chart style that1 I came up with programmed. I contacted a company recommended on a big list of asci n c++ programmers. I did not have him sign am NDA.
The programmer said I cant give you am estimate without understanding what it is you want done. So I told him. Now having my chart type is not the holy grail. Just like all manual trading there is discretion and interpretation and proper order execution. So just having my chart wont print money butcwait there is more.
Some it took me 45 minutes to get this programmer to understand what I wanted. I mean he just couldnt conceptualize it then after drawing it out on paper for him...it clicked.
The next day he said he could do it and he wanted 600 dollars if I wanted control of the code and license or I could pay 200 dollars and he would give me 2 licenses. Ahem..so let me get this straight. I give you an idea and you are going to give me licenses? Oh and he said well I am going to sell this on my site and its possible we could do some kind of profit share. I am not into selling indicators etc. However. I dont like the idea of an entity coming at me with 2 price structures after they have my idea.
How do you protect yourself and your idea in order to get an estimate
Is this typical for a programmer to do work on your idea and then if they like it give you 2 different price structures then say they are going to sell it on their site or 2 different price structures?
Lastly he said he wants a deposit of 50% up front.
Any thoughts n ideas and knowledge appreciated
PLEASE USE THIS THREAD AS A COMMUNITY THREAD TO HELP OTHER TRADERS WHO ARE NON PROGRAMMERS TO UNDERSTAND THE MUDDY WATERS.
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