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Podcast: Locke In Your Success
Episode: Why Backtesting is Giving You False Confidence
Description: In this video John answers a community post on the pros and cons of backtesting. He describes the pitfalls of relying on backtesting and past performance along with the false confidence that backtesting can provide to traders. John goes on to emphasize the need to understand market dynamics and trade strategies based on current market conditions in order to become successful.
Learn more at: https://www.lockeinyoursuccess.com/why-backtesting-gives-false-confidence/
00:00 Intro
00:39 Backtesting Topic Setup
02:00 Perfect Backtesting
07:32 Where Backtesting is Helpful
08:32 Superbull Verticals
09:10 Trader Success Blueprint
10:00 Market Timing
11:40 Don't Depend on Past Results
13:10 Confidence based on best strategy
13:35 Proficiency in 3 areas
15:15 Position...