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I have never owned any of his systems, but I have spoken to people who did
and I have corresponded with Joe and spoken with the guy he has working for
him.
From what I can tell he does no out of band testing (some call this walk
forward testing) on his systems. This means testing the system on data
other than the data you used to develop the system.
I asked him how he came up with the price for his systems, if this was
based on some payback period. He said that was what he is charged, you pay
and there is no guarantee, no way to get your money back. The performance
results do not do within the bar testing.
He doesn't trade any of his systems. The reason I was given for this is
because with brokers trading his stuff that he would not front run it.
However since the system is disclosed to whoever purchases it, what's to
stop anyone else from doing that? I didn't get an answer for this one.
To use an old expression he seems to have more systems than Carter has
liver pills.
Steve
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