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I have been testing AlphOmega Elliott Waves with the system tester. On some stocks it is fairly accurate at having 90% times winning trades.
This seemed too good to be true until I decided to trick the system.
Take EQN.TO for example. On August 4th a Buy signal was issued based on a 13% bullish wave. So running the system tester it places an order at the open of next day, August 5th.
Here is where things get fishy.
On August 5th, the stock hardly moved up and closed below yesterdays close so the System Tester decided to sell on the same day.
Now I faked the data for August 6th, making it a good day. Where the open was the close of August 5th but it hit a higher high and ended up closing higher than the previous two days.
Running the system tester again and this time it doesn't sell on the August 5th, it sells on the 6th. So it basically cheats because it uses data from the future.
Now someone tell me why people take this back-testing seriously if it fudges the results
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