Hi all,
I have an friend whose trading for past 1 year using results of a system based on amibroker AFL.
I too feel interested to trade, seeing his earnings, but I have a doubt over performance of his sytem.
As per his backtesting records, system gave 1513 signals in last 2 years, out of which 741 were successful trades and 772 were failures on 5 mins time frame chart. Signals are on stocks whose daily average turnover(for past 1 month) is greater than 500 lakhs
Target is fixed at 0.8% of closing price of running candle on which trade was initiated and stoploss is strictly fixed at 0.32% of closing price of same above candle.All trades are purely intraday and will be squared off automatically at 3.15pm even if price is between target & SL. Sometimes there is trailing SL but still trgt is fixed at 0.8%.
He's boasting of earning around 2 lakhs on investment of 1 lakh (Not compounded) means he has now 1+2= 3 lakhs in his account.
He's not willing to share the code of his afl but will share live results at cost of 25% of my profit.
I am thinking of investing my hard earned money (Rs.60000) into this deal.
Please help that, Is this wise decision?
For eg: today
tatasteel shorted @ 390.10 with TSL 390.75...... trade is running
bpcl loss of loss 70p per share
yesbank profit of Rs.2.85 per share
please guide me as I am in great dilemma.
I have an friend whose trading for past 1 year using results of a system based on amibroker AFL.
I too feel interested to trade, seeing his earnings, but I have a doubt over performance of his sytem.
As per his backtesting records, system gave 1513 signals in last 2 years, out of which 741 were successful trades and 772 were failures on 5 mins time frame chart. Signals are on stocks whose daily average turnover(for past 1 month) is greater than 500 lakhs
Target is fixed at 0.8% of closing price of running candle on which trade was initiated and stoploss is strictly fixed at 0.32% of closing price of same above candle.All trades are purely intraday and will be squared off automatically at 3.15pm even if price is between target & SL. Sometimes there is trailing SL but still trgt is fixed at 0.8%.
He's boasting of earning around 2 lakhs on investment of 1 lakh (Not compounded) means he has now 1+2= 3 lakhs in his account.
He's not willing to share the code of his afl but will share live results at cost of 25% of my profit.
I am thinking of investing my hard earned money (Rs.60000) into this deal.
Please help that, Is this wise decision?
For eg: today
tatasteel shorted @ 390.10 with TSL 390.75...... trade is running
bpcl loss of loss 70p per share
yesbank profit of Rs.2.85 per share
please guide me as I am in great dilemma.
