Bro,
AFL can make money .But it is not everything. All focus on price & volume. where is the 3rd Factor ? TIME !!!! Either everyone is in hurry to go to moon or betting big without proper money management. Time also has a role to play when it comes to autions - short time (intra) and positional tradings. You are aware of all this, so not going into details.
The point is this:
Tell me, how many of us (including me) will have the balls to hold on a system with 25% win rate, although it proves to be profitable as per BT?
Argument will be, whats the gurantee that what happened in past will happen in future.
Counter Argument: The way you are trading (non-mechnical, even I do), how did you derive the technique? Based on past data only right?
All the arugements that lagging indicatore, past does not gurantee future etc etc, anyone, when you asks him ok, why you trade like this - the answer will be see on so and so dates the market behaved like this - relying on past only !!
And it is not a sin. We dont have access to future.
Trading = identifying repeatable pattern with max probablity (winrate) OR max RR X money management.
Chapter closed.
Now one wants bypass surgery or a open heart (AFL or manual) - upto individual's comfort (and ablitly).