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What is Forward test?

Running frozen rules on data that did not exist when the idea was built, either on paper (simulated) or live at minimum size. The first genuinely prospective evidence.

In context

A forward test is also a limited sample, and a good period can be luck. But the combination of a strict backtest and a frozen forward test is far stronger evidence than either alone. The backtest says "this could work"; the forward test is the first time the market itself gets a vote.

From Chapter 12: Honest Research: Testing Ideas Without Fooling Yourself

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