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What a trading record measures

9 plain explanations of the terms a trading journal is built on — what each one means, how it is computed from a book of trades, and where it stops being useful. Each links to the calculator that computes it.

Foundations

What is a trading journal?What is a trading journal, and how is it different from my broker statement?R-multiples: measuring a trade in units of its own riskWhat does 1R mean, and why do people talk about a trade in R instead of dollars?

Metrics

The metrics a trading journal computesWhat do all these trading statistics actually measure?MAE and MFE: how far a trade ran before it closedWhat are MAE and MFE, and what do they tell me that my P&L does not?Drawdown: the four things the word meansWhat is drawdown, and why does my number not match the one my platform shows?

Practice

Reviewing a period of tradesHow do people actually review their trades, and what are they looking at?Tagging trades: setups, mistakes and why the labels matterHow should I tag my trades so the tags are actually useful later?Getting trades out of a broker and into a journalHow do I get my trades from my broker into a journal without wrecking the data?

Prop firms

Prop firm drawdown rules: static, end-of-day and trailingWhat is the difference between static, EOD and trailing drawdown at a prop firm?

Looking for how a feature works rather than what a term means? That is the Help Center. Looking to run the numbers? The free calculators

Keep the record it all comes from

None of these measurements exist without a complete book of trades. A free account gives you somewhere to keep one.

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