Hi Kenny,

I was just pointing out how to do a general draw-down chart that can be applied to anything as used by stock markets and most businesses, especially large ones. They can be used for all sorts of things including any form of betting or race info. progress.

However [don't we just cringe at that word:-)], what you are describing is a theoretical model approach which can only be based on someone else's figures. How do we know they never started on the system just after an even bigger draw-down than their figures eventually show? Simple, we don't know.

Some theoretical value is there sure, but that's all. It might show max. draw-down for the last 10yrs. but the next 12 months might show a bigger one. You might start into a system at the end of a big draw-down month only to immediately fall into an even bigger one straight away.

You can't 'start a system at the end of it's first month'. When you start it is the first day surely[?].

I've avoided talking about runs of outs, but I've ended up with month's and periods. Why is punting obsessed with bodily functions?