Securing successful strategy from the broker stealing it

Discussion in 'Professional Trading' started by yoyotrader, Apr 27, 2020.

  1. qaz

    qaz

    If everyone has a "not possible" attitude then nobody would do anything. Nobody taking action = maintaining status quo. Let go of the defeatist mentality and give it a try. If you never try, you'll never know.
     
    #101     May 6, 2020
  2. ironchef

    ironchef

    Appreciate the coaching and encouragement.
     
    #102     May 7, 2020
  3. virtusa

    virtusa

    NIKE: Just do it.
     
    #103     May 8, 2020
  4. newwurldmn

    newwurldmn

    Here’s my suggestion to avoid a broker stealing your strategy. My friend did this as he grew he account from 2,000 to 25mm over the course of three years.

    When he started trading, he opened an account with a very prominent firm. After two months he had made 300k on his initial 2k and the CEO of the firm called him demanding to know his strategy. The CEO even sent a team of phds to his house to ask him questions about the strategy. After the meeting, where he told them to bugger off, he noticed that the broker tried to hack into his computer to steal is trading programs. Fortunately he has military encryption on his PC and they couldn’t get anything.

    This is what he did after that:

    He opened 5 brokerage accounts. He would the. open trades in one and close the trades in another. For good measure he added random trades to his strategy. He also would wire money between the accounts in a random fashion so the brokers couldn’t figure out if other accounts were making money.

    Now he fields broker calls every day asking for his strategy but no one can figure it out.

    He often sees vans outside his house Scarface style. He suspects they are trying to capture his WiFi signals. Little do they know he runs fake signals that pretend to go to the brokerage accounts just to garble that up.
     
    #104     May 8, 2020
  5. virtusa

    virtusa

    I wonder how long it will take before posters will appear that will tell you:
    • nobody is interested in that strategy
    • to put on your tinfoil head
    • that you have paranoia
    • that you are a papertrader
    • live in a phantasy world
    • etc...
     
    #105     May 8, 2020
  6. newwurldmn

    newwurldmn

    Maybe phantasy world would be appropriate.

    Do I get the Jonathan Swift award for best satire on Elitetrader?
     
    #106     May 8, 2020
  7. virtusa

    virtusa

    #107     May 8, 2020
  8. Sig

    Sig

    That's amateur hour really. My friend has actually set up an entire exchange in a faraday cage that he built in his mom's basement which has no connection to the outside world. He his trades exclusively on this exchange, bypassing brokers entirely, and reports that it has been 100% successful in thwarting brokers from stealing his strategies. I still worry that he's ignoring physical security, after all, his mom could always just walk in and steal it;)
     
    #108     May 8, 2020
  9. newwurldmn

    newwurldmn

    Well, if he had concocted an invisibility chemical, he could hide the cage from his mom.
     
    #109     May 8, 2020
  10. ironchef

    ironchef

    Your story is not very credible.

    In Schwager's book, and in The Big Short, Jami Mai's Schwab account started with $100K and grew to tens, hundreds of millions in a year (or two) and Mr. Charles Schwab never called and questioned his strategy.
     
    #110     May 10, 2020