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Proving trade legitimacy through a blotter or other way
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Proving trade legitimacy through a blotter or other way

  #11 (permalink)
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RM99 View Post
Other than showing them your profit/loss statements and trade analysis reports, I'm not sure that anything else would be beneficial. If someone believes that you're trying to scam them by fraudently falsifying those types of exhibits, what good would it do to let them observe anything else......

I guess the most effective way would be to have them sit next to you and then call/verify with your broker the balance sheets reflect what's on your screen.

Are you looking for some official exhibit that's been issued by the exchange? I'm sure there are people that have access to that information, whether or not you can get your paws on it is another matter. There has to be an official database that tracks orders from each broker, which can be further tracked to each individual account holder....

You could also consider doing a remote desktop or virtual connection that allows them to see you're platform live and in color, but again, if they're skeptical, you'd need to call the brokerage and confirm that what your platform is claiming actually bears out on your bottom line.

Well, I think a live feed would pretty much do the trick, but I guess I'm inquiring about verifying past trades.

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  #12 (permalink)
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Thanks for the replies everyone--what I'm getting from you all is that there's really no way to verify past trade history reliably. I suppose even brokerage statements and things like this can be falsified, so what's the point right? I just can't think of too many professions where someone's success is so hard to verify. I guess this is mostly due to the proprietary nature of how some people trade. I'm not planning on needing to do this myself, just curious as to how accurate we can be about these things.

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  #13 (permalink)
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josh View Post
Let me clarify about the ms resolution. I didn't mean that the timing of the person would need to be that granular, rather I mean that I enter the trade and 1 or 2 seconds later the move happens, and I take the profit within a few seconds, and that it would do no good to post the trade if the timing was off even by a few seconds (not milliseconds I realize, I'm sorry I wasn't clear).

following trades at the second level will also be useless IMO.. there is too much latency out there... so if the trade lasts nothing but a few seconds, it will be hard to follow.. and I know that since I scalped TF for a very long time with trades lasting less than a minute..

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If one was serious I'm sure there is someway to audit the results and prove legitimacy. In the end I think one will be well served by the old maxim "if it sounds too good to be true it probably is"

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  #15 (permalink)
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josh View Post
Well, I think a live feed would pretty much do the trick, but I guess I'm inquiring about verifying past trades.

some brokers provide a facility to have an Id on the account management platform to read records... IBKR is one of them as a matter of fact... the only true way is to login into the account and view it yourself... I can "manufacture" any records to show anything I want, so obtaining so called "official" records is a bit of a joke.. assuming you are going after verifying trades, not profitability... for that piece you just need to get a signed 4506 from the "trader" and go to town with his corporate tax returns..

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  #16 (permalink)
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something like this should be prove enough.

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Proving trade legitimacy through a blotter or other way-2011-04-02_1851.png  
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  #17 (permalink)
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nverstop View Post
If one was serious I'm sure there is someway to audit the results and prove legitimacy.

That's exactly why I started this thread, to get these answers.


nverstop View Post
In the end I think one will be well served by the old maxim "if it sounds too good to be true it probably is"

"Probably" being the key word. I'm not looking for probabilities, I'm looking for evidence... the best traders, I realize, will not sell their methods, and likely don't even have "methods" to sell, as it's likely based in time-tested experience. So I'm not really looking at this from the standpoint of a consumer looking to buy, just from an observer looking to verify. For example, my broker, Velocity, has a "leader board" where I see the same guys every day near the top, making lots of money. As Mike mentioned, this can be faked by hedging and taking an opposite position and losing an equal amount in another account, and this would be one way to fake this (though in this case I don't see the point for these people).

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  #18 (permalink)
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Silvester17 View Post
something like this should be prove enough.

This looks like it'd be the easiest thing to fake mentioned so far... ?? It's not even a real statement.

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  #19 (permalink)
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josh View Post
Thanks sam... in the first method you mention, how would one verify the correct date and time stamp? Some of these trades may need millisecond timing resolution (breakouts for example). In other words, couldn't someone fake the time stamp on the website or blog server and post an "after-the-fact" trade 2 or 3 seconds after the actual move begins, or something like that?

For NT, we can have something very safe, if the destination (website) is not managed by the sender: the strategy send the orders, all is logged, and the sender is not able to modify the logs.
Easy...

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  #20 (permalink)
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It just got real... TAX RETURNS lol.

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