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Coot - how do we define 'valid' then? I guess that's why I'm not understanding here... |
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Simple. Validity refers to (in this context) a strategy that yields a statistically significant positive expectation of return (assuming that was the result you intended to achieve).
Remember, you can design, test and implement a strategy that does
not yield a positive/winning result.
And you can enter and exit correctly per this setup.
Just because you execute this setup correctly, does not make it a winning strategy if the premise upon which your strategy was designed was flawed to begin with.
And that's my point.
