Usually means: Simulation of trading strategy historically.
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We found 5 dictionaries that define the word backtesting:

General (4 matching dictionaries)
  1. backtesting: Wordnik
  2. backtesting: Wiktionary
  3. backtesting: Dictionary.com
  4. Backtesting: Wikipedia, the Free Encyclopedia

Business (1 matching dictionary)
  1. Backtesting: Investopedia

Definitions from Wiktionary (backtesting)

noun:  The process of testing a strategy, model etc. using data from a previous time

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