David Harding: Test Trading Ideas Without Hindsight

A hypothetical researcher tests 50 variations of a breakout rule and keeps the best result. The selected chart looks convincing, but it contains a hidden advantage: it won a contest…

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Investable Universe: The List Behind Every Stock Screen

Two traders run what they call the same momentum screen on Monday morning. Both rank US equities by six-month price change, both take the top twenty, and both trust the…

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