Dear all,
I have the following probability problem, wonder anyone who are good at maths can answer.
The problem:
Someone sold me a trading system and claimed that this system on average signals 1 setup for each 100 bar on a chart. I used the system to trade and 1000 bar on a chart have passed, but I only got 5 setups. Given only this result, what is the probability that I have been cheated?
Thanks in advance.
kk007
I have the following probability problem, wonder anyone who are good at maths can answer.
The problem:
Someone sold me a trading system and claimed that this system on average signals 1 setup for each 100 bar on a chart. I used the system to trade and 1000 bar on a chart have passed, but I only got 5 setups. Given only this result, what is the probability that I have been cheated?
Thanks in advance.
kk007