Both numbers use your closed trades and their net P&L, after commissions, fees and swap.
Winning, losing and break-even trades
- Winning trade — net P&L above zero
- Losing trade — net P&L below zero
- Break-even trade — net P&L of exactly zero
Because the count uses net P&L, a trade that made a little before costs can end up as a losing trade.
Win rate
Closed trades include break-even trades. Open trades aren't counted until they close.
Trade expectancy
Expectancy is what a trade made on average.
It works out the same as (win rate × average win) − (loss rate × average loss), with break-even trades counting as zero.
Example (sample account, three months)
| Closed trades | 312 (171 winning, 139 losing, 2 break-even) |
|---|---|
| Average winning trade | $58.40 |
| Average losing trade | −$61.20 |
| Total net P&L | 171 × 58.40 − 139 × 61.20 = $1,479.60 |
| Win rate | 171 ÷ 312 = 54.81% |
| Trade expectancy | 1,479.60 ÷ 312 = $4.74 |
A win rate above 50% with a small expectancy means the average loss is a little larger than the average win. That's worth a look in the profit factor and your R-multiples.
Where to find them
- Dashboard — Per-Trade Expectancy at the top
- Reports → Overview — Win Rate and Trade Expectancy at the top; winning, losing and break-even counts under Win/Loss & Streaks; average win and loss under P&L Statistics
- Reports → Tags, Strategies, Symbols — the same numbers for each group
Use the account selector, date range and filters at the top to choose which trades are counted.
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