THURSDAY is our big day, not only do we have my usual Weekend Review Video coming out. Should be a very interesting one (so make sure you're subscribed to my youtube page) But Jason Stapleton also has his "Cracking the Code" workshop. Got to make it through today first though. Good luck out there today traders!
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And, of course it alll depends on the target and stop levels. If you place 1-pip target and 100-pip stop loss then the accuracy will be very high, I think more than 95% in Gartleys:). Will the strategy still generate money? I personally place my first target for Gartleys at 0,618AD and never have and accuracy more than 40%.
In my opinion, the stats one gets through backtesting doesn't help a trader a lot. I am so sorry when I see traders that switch from one strategy to the other after they had steadily falling equity curve in their backtesting results! Although the atats are bad one still can generate money. Only need to invert it. Just buy instead of sell. The results only depend on the trader but not on the strategy and stats.
Just my view.