Pro lessonUnderstanding Backtesting · 4/43 min read

Backtest, paper and live: why the records must stay separate

Why results drop from backtest to paper to live trading, and why the three records must never be merged into one chart.

There are three very different kinds of performance records. Mixing them up is one of the most common ways people, and marketers, mislead.

Even an honest paper record usually looks better than live trading. The main reasons:

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Education, not investment advice. Crypto prices can fall sharply and most retail traders lose money. Practice in DUKOIN uses virtual USD with no real value.