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