Define the question
Clarify the objective, instruments and conditions that would invalidate the thesis.
The output
Make the assumptions, decisions and deliverables visible. The scope is agreed before research begins.
Clarify the objective, instruments and conditions that would invalidate the thesis.
Examine data, costs, changing market conditions and the limits of historical testing.
Translate the thesis into explicit rules, exposure limits and approval checkpoints.
Review the findings and operational requirements before considering implementation.
Historical tests are hypothetical. Data selection, costs and execution assumptions influence results, and future conditions can differ. A research finding is not a promise of investment returns.
Start with the decision you want to improve.