G'day All

I've been taking a more disciplined approach to my betting the last couple of months and my question is: How do you know if a system is viable? I've read somewhere about something called the 'chi-Squared' test anyone familiar with it and it's workings?
I operate about 15 systems together and in the month of January
Bets: 445
Wins: 126
Win strike rate: 28.3
Return: 579.4
Longest losing win sequence: 15
Highest priced winner: 19.00

These systems were designed using a program that has been mentioned on here before and created over 1 to 2 years of data, every year since the initial period they have shown a profit, basically from 2002 onwards. I tend to believe that the results can hold over the long term but is there a formula that people use to determine if any system has potential. Also for the mathmaticians or anyone with more knowledge than myself could you explain in simple laymans terms what 'win drawdown and maximum drawdown ' mean in relation to graphs or profit/loss.

Thanks and see what happens to Sunshine Lover in the second at Cessnock.