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Backtesting with statistical analysis of results. It seems to me that people erroneously couple algorithmic trading with artificial intelligence. To me, discretionary traders should be able to turn their strategies into algorithms (remember: an algorithm is just a series of steps) and should want to backtest their strategies. I was a discretionary trader for a little while (am taking a break to study systems trading) and couldn't tell when I was right versus when I was lucky. Given an algorithm, there are many ways to code and test. Currently reading Kevin Davey's "Building Winning Algorithmic Trading Systems" book. Started last night and ate through 1/4 already. It's good stuff and well worth the price. Might be a good starting point.
Can you help answer these questions from other members on NexusFi?