NexusFi: Find Your Edge


Home Menu

 





Proving trade legitimacy through a blotter or other way


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one josh with 15 posts (0 thanks)
    2. looks_two sysot1t with 7 posts (1 thanks)
    3. looks_3 sam028 with 5 posts (2 thanks)
    4. looks_4 Silvester17 with 5 posts (0 thanks)
      Best Posters
    1. looks_one Eric j with 2 thanks per post
    2. looks_two RM99 with 1 thanks per post
    3. looks_3 sam028 with 0.4 thanks per post
    4. looks_4 sysot1t with 0.1 thanks per post
    1. trending_up 19,897 views
    2. thumb_up 9 thanks given
    3. group 9 followers
    1. forum 43 posts
    2. attach_file 3 attachments




 
Search this Thread

Proving trade legitimacy through a blotter or other way

  #1 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136

After seeing all the stuff going on in another journal, I'd like to know but have never been able to find out:

How can I prove, in the "public domain" if you will, that the trades I have taken with my real money are legitimate? Is there a trade blotter of some kind or some kind of "written in stone" way to do this?? I'd like to be able to show this myself.

As someone else had suggested, for me anyway, posting the trade in advance simply doesn't work for many people, if for no other reason that often setups happen so fast, based on momentum, that there's no time to do this.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Futures True Range Report
The Elite Circle
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
ZombieSqueeze
Platforms and Indicators
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
GFIs1 1 DAX trade per day journal
18 thanks
  #3 (permalink)
 
sam028's Avatar
 sam028 
Site Moderator
 
Posts: 3,765 since Jun 2009
Thanks Given: 3,825
Thanks Received: 4,629


Using NT, it might be possible, in writing a strategy which will "spy" an account and its orders, and send these orders and the current positions to a website/blog/...
Using IB TWS it's also possible (and easier), as I've done it before, using a simple program connected to the user's TWS, and sending the entry/exit orders to website/blog. I forgot in which language I've wrote this, Java, Perl or C++, but I can remember it was very small and easy to code.

Their is maybe other ways, but that's the safest and the easier to me...

Success requires no deodorant! (Sun Tzu)
Follow me on Twitter Reply With Quote
Thanked by:
  #4 (permalink)
nverstop
Ohio
 
Posts: 29 since Jan 2011
Thanks Given: 0
Thanks Received: 18

Usually no one has an issue legitimacy or proof until a service or other commercial interest is mentioned.

Reply With Quote
  #5 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136

nverstop, I understand that, but that doesn't really answer the question. IF you were going to want proof of someone's trades, how would you go about verifying it, or rather, how would the trader go about setting things up so as to provide proof?

Started this thread Reply With Quote
  #6 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136


sam028 View Post
Using NT, it might be possible, in writing a strategy which will "spy" an account and its orders, and send these orders and the current positions to a website/blog/...
Using IB TWS it's also possible (and easier), as I've done it before, using a simple program connected to the user's TWS, and sending the entry/exit orders to website/blog. I forgot in which language I've wrote this, Java, Perl or C++, but I can remember it was very small and easy to code.

Their is maybe other ways, but that's the safest and the easier to me...

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?

Started this thread Reply With Quote
  #7 (permalink)
 sysot1t 
 
Posts: 1,173 since Nov 2009


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?

hmmm... I dont think anyone can trade discretionary at the ms level... so that is a pointless question... the best you can do retail execution as a human will be second level.. and if you are trying to follow a mechanical system trading at the ms level, by the time that system entered and is about to exit is when you will find out about the entry.

the only true way to "verify" the trades are not fake, is as @ sam028 stated; you need to go with a broker that will enable an API where you can post trades to an XML or whatever that you can the process from a website.. regardless it would be a custom job and an FCM willing to support the effort.

Reply With Quote
  #8 (permalink)
nverstop
Ohio
 
Posts: 29 since Jan 2011
Thanks Given: 0
Thanks Received: 18

Well I guess it would be alot easier to prove legitimacy if one was a short term, medium term, or long term trader. But if one is a millisecond scalper then I would automatically assume the person is bsing about their success or otherwise foolish about the long term prospects for the system. But I guess I'm just one of those people who don't want to compete with machines directly on the millisecond level...

Reply With Quote
Thanked by:
  #9 (permalink)
 RM99 
Austin, TX
 
Experience: Advanced
Platform: TradeStation
Trading: Futures
Posts: 839 since Mar 2011
Thanks Given: 124
Thanks Received: 704

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.

Reply With Quote
Thanked by:
  #10 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136



sysot1t View Post
hmmm... I dont think anyone can trade discretionary at the ms level... so that is a pointless question... the best you can do retail execution as a human will be second level.. and if you are trying to follow a mechanical system trading at the ms level, by the time that system entered and is about to exit is when you will find out about the entry.

the only true way to "verify" the trades are not fake, is as @ sam028 stated; you need to go with a broker that will enable an API where you can post trades to an XML or whatever that you can the process from a website.. regardless it would be a custom job and an FCM willing to support the effort.

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).

Started this thread Reply With Quote




Last Updated on April 4, 2011


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts