A variation on that would be to run your stake line to the nearest tree and tie it off at the base. It could be a ways off and still work fine. And you'd have a few degrees of freedom in which to find your "tie-off" tree.
And I'm gonna be bold and throw it out there that I don't think hiking poles would be strong enough. I could very well be wrong, but the ones I've seen I don't trust myself to lean on, much less hang from, where my weight will be multiplied a few times over. You could probably use found wood with rocks under the ends so they don't jam into the ground.

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