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    ],
    "reason": "Net payoff regression trained; executable portfolio evaluation still required"
  },
  "live_promotion_allowed": false,
  "state": "exploratory_results_not_forward_qualification",
  "cash_baseline": {
    "equity": 100,
    "copier_pnl": 0
  },
  "limitations": [
    "Data were already examined in execution-v1. Positive results require new untouched prospective evidence.",
    "Training combines correlated teacher-account trades; five-day block resampling reduces but does not eliminate dependence.",
    "Payoff estimates are conditional on fixed teacher entry families and exits, not causal diagnoses or strategy invention.",
    "Hourly synthetic spread/stop approximations and fixed three-asset survivorship bias remain.",
    "Global context is unavailable historically and never backfilled. No global predictive advantage is claimed.",
    "Separate test accounts reset for each historical window; summed P&L is not compounded live return."
  ]
}