Hiring a Programmer...

[cmdtytrdr]

Quote from nitro:

That happens all the time.


First rate contract programmers are a minimum of $100/Hr. If all you need is something simple done, you may be able to find someone for much lesss.

Some people go to Russia or India because that is much cheaper and try to get programming help this way. In almost every situation I have seen, that turns into a small disaster.


It is impossible to keep your strategy safe if you divulge it. I have found that this paranoia is generally unwaranted and sometimes very warranted. If your strategy has a statistical edge and requires many trades to show a profit, I wouldn't worry one bit. If you have something that is closer to an arb, but requires a programmer to colocate a server on L-NET, and to have a $500,000 in an account, I would say worry a little but I wouldn't bother worrying about it that much. If by some miracle, you have some strategy that can be duplicated at Interactive Brokers and requires a $6k account and the system is pretty reliably making money, I would worry ALOT.

nitro,

what are your thoughts on non-competes or nd's re: this situation? any suggestions for finding these traders/programmers? is there a company you use, or do you just post an ad on bb or special headhunting service u can recommend? i dont mind paying $100/hr or even a few k to get it done right.

 

[nitro]

Quote from cmdtytrdr:

nitro,

what are your thoughts on non-competes or nd's re: this situation? any suggestions for finding these traders/programmers? is there a company you use, or do you just post an ad on bb or special headhunting service u can recommend? i dont mind paying $100/hr or even a few k to get it done right.

Non competes are worthless. NDs are good. Interview the person, and either you close your eyes and trust the person, or you don't.

Where are you located?

 

[cmdtytrdr]

Quote from nitro:

Non competes are worthless. Either you close your eyes and trust the person, or you don't.

Where are you located?

nyc

 

[RifffRafff]

The OP should just pay a programmer.

The work for free model does not work unless the programmer is getting SOMETHING more than a promise.

 

[nitro]

Quote from cmdtytrdr:

nyc

What markets are you trading, and do you need direct connects to the exchanges, or do you go through a brokers and/or proprietary API?

Feel free to PM me the info if you prefer not to divulge this info here.

 

[propseeker]

Quote from cmdtytrdr:

I have two questions related to OP's query. Let's assume it's a great strategy. Let's also assume you don't want to keep the programmer on full-time but just on a one off basis to work on one strategy.

1) what is the going rate for a good programmer/quant to do this sort of thing? if paid by the hour - how much? If paid by assignment - how much?

2) much more important. how can you be certain that once you divulge your strategy and the programmer creates a system to essentially blackbox it, that he won't try to replicate it elsewhere? is there anyway of avoiding this other than keeping him at the firm? non-compete? do those really work? Anybody else have good ideas of not giving away the secret sauce while allowing him to fully automate it.

1) depends... for a _good_ programmer: starts at $75/hr at the bottom end.

2) you can't be certain. if it's worth replicating, good rule of thumb is to assume it will be. re: keeping it secret... nda's/non-compete's are worthless at the indi level, and arguably even at the insti level... however there's been a few court cases recently where hf's have been successful in enforcing them. re: secrecy techniques.. a trader friend of mine with low programming skills who went this route abstracted the hell out of his strategy via custom settings in a file, and a hefty gazillion option gui. seems to work pretty good for him, his guys have no idea what he's doing... be prepared to pay if you go that route.

 

[cmdtytrdr]

Quote from propseeker:

1) depends... for a _good_ programmer: starts at $75/hr at the bottom end.

2) you can't be certain. if it's worth replicating, good rule of thumb is to assume it will be. re: keeping it secret... nda's/non-compete's are worthless at the indi level, and arguably even at the insti level... however there's been a few court cases recently where hf's have been successful in enforcing them. re: secrecy techniques.. a trader friend of mine with low programming skills who went this route abstracted the hell out of his strategy via custom settings in a file, and a hefty gazillion option gui. seems to work pretty good for him, his guys have no idea what he's doing... be prepared to pay if you go that route.

thank you. good advice.