Plain-English definitions for the terms you'll see across the dashboard and reports.
Core metrics
- Win rate — the percentage of closed trades that were profitable.
- Expectancy — the average P&L you can expect per trade, blending win rate and average win/loss size. Positive expectancy is the goal.
- Profit factor — gross profit divided by gross loss. Above 1.0 means you make more than you lose.
- R-multiple — a trade's result expressed in units of the risk you took (your stop distance). +2R means you made twice what you risked.
- Reward-to-risk (R:R) — your planned reward divided by planned risk, before the trade.
Risk & equity
- Drawdown — the drop from an equity peak to a subsequent trough; measures how much pain a strategy puts you through.
- Equity curve — your cumulative P&L over time.
- Realized vs. unrealized — realized P&L is locked in on closed quantity; unrealized is the paper gain/loss on what's still open.
The Tools page has calculators (R:R, Kelly, drawdown recovery, risk of ruin) that use these same concepts.