Walk-forward testing, explained honestly
Walk-forward analysis is called the gold standard of strategy validation — but two different things share the name. Know which one you are actually getting. Ask a quant how they validate a strategy and sooner or later you will hear “walk-forward.” It is routinely described as the gold standard for robust testing. That reputation is deserved — and it hides a confusion worth clearing up, because two different things travel under the same name. The classic method, presented by Robert Pardo in 1992,
