Win Rate
The share of closed trades with a positive result.
Winning trades ÷ all closed trades × 100
In this guide, breakeven trades stay in the denominator. A high win rate can still lose money when losses outweigh wins.
TRADING PERFORMANCE ANALYTICS · BTI PULSE
Understand your results.
Measure the process.
Win rate tells you how often you win. Trading performance analytics helps you understand what you earn, what you risk and how consistently you execute.
- Win rate to expectancy
- Drawdown in context
- Review in R, % and money
FIVE METRICS. ONE COMPLETE PICTURE.
A winning percentage is only the beginning.
Measure frequency, payoff and risk together. Use the same accounts, date range, trade definition and cost convention before comparing results.
Profit Factor
The ratio of total winning P/L to the absolute total of losing P/L.
Total winning P/L ÷ |total losing P/L|
Use one cost convention throughout. With no losing trades, there is no finite ratio; a small loss-free sample is not proof of an edge.
Expectancy
The average result of a trade in the selected sample.
Sum of trade results ÷ number of trades
Calculate it in money or R. Positive historical expectancy describes the sample; it does not predict the next trade.
Drawdown
The decline from a previous peak to a later value in the same account series.
(Peak − later value) ÷ peak × 100
Maximum drawdown is the largest such decline in the period. A percentage calculation requires a positive peak.
Understand the account curve →R-Multiples
A trade’s result expressed relative to its initial monetary risk.
Net trade result ÷ initial risk
A $200 gain against $100 of initial risk is +2R. Keep the initial risk as the denominator when reviewing the result.
Compare results in R →Sample & context
How many trades? Which period, account and market conditions? Were costs included? A single outlier or a short sample can dominate the result.
Build a consistent review →Definition reference: MetaTrader 5 report metrics. Calculation conventions in this guide are stated explicitly; check the convention used by your reporting software.
WORKED EXAMPLE · ILLUSTRATIVE DATA
A 50% win rate can tell two very different stories.
The size of wins and losses changes the outcome. Here is a ten-trade sample with five wins at +2R and five losses at −1R.
TRADE 01+2R
TRADE 02-1R
TRADE 03+2R
TRADE 04-1R
TRADE 05-1R
TRADE 06+2R
TRADE 07-1R
TRADE 08+2R
TRADE 09-1R
TRADE 10+2R
WIN RATE50%5 winning trades / 10 trades
PROFIT FACTOR2.0010R of wins / 5R of losses
EXPECTANCY+0.50RNet +5R / 10 trades
MAX. BALANCE DRAWDOWN1.94%$10,300 peak → $10,100 trough
Illustration only, not BTI customer results or a forecast. Starting balance $10,000; fixed initial risk $100 per trade; all displayed results are net of costs; no deposits or withdrawals. The sequence ends at $10,500. Closed-trade balance drawdown is $200 (2R), approximately 1.94% of the preceding peak. Intratrade equity drawdown is unknown.
Change the payoff, keep the win rate.
With five wins at +1R and five losses at −2R, win rate is still 50%. But profit factor becomes 0.50 and expectancy falls to −0.50R per trade.
DRAWDOWN ANALYSIS
The destination does not show the whole journey.
Two accounts can finish with the same profit after very different declines. Pair the final result with the depth and duration of drawdown, and be clear about the curve you are measuring.
Deposits and withdrawals can distort an unadjusted account curve. Use a consistent, cash-flow-aware method when comparing periods.
Balance drawdown
Tracks realized account results. It is useful for reviewing closed trades, but does not capture every fluctuation while positions are open.
Equity drawdown
Includes unrealized P/L. A trade that eventually closes in profit may still have experienced a substantial equity decline.
Check the data behind the number.
Closed-trade records alone cannot reconstruct the full intratrade equity path. Use the series, sampling frequency and drawdown type your source actually provides.
R · % · MONEY
Change the unit.
Keep the context.
Money shows the account impact. Percentage relates a result to a stated account value. R relates the result to the risk originally planned for that trade.
R-based expectancy is the average of individual R-multiples. With changing risk sizes, dividing total cash profit by one assumed risk amount gives a different answer.
The monetary risk defined before the trade.
The closed result after included trading costs.
$150 ÷ $100 of initial risk.
Illustrative trade. Planned reward-to-risk and realized R are different: actual exits, gaps and costs can change the outcome. If initial risk is missing or zero, mark R as unavailable.
BTI PULSE
Give your performance review a home.
PULSE brings trading history, performance views and journal context together. Use its equity and drawdown views, R / % / money units, multiple accounts and structured reviews to investigate what sits behind the final P/L.
Equity & drawdown
Review performance over time alongside the account’s declines.
Trading calendar
Locate periods you want to investigate in your journal.
Multiple accounts
Keep different account histories organized.
Live vs. backtest
Separate actual execution from historical testing.
Rules & reviews
Add context to outcomes and review execution against your plan.
Flexible trade entry
Start manually or with supported imports. Add CONNECT for the manual MT5 workflow.
A REPEATABLE REVIEW
Start with a question.
Then look at the evidence.
Use the metrics to choose what to inspect in your journal. Record what the sample supports and what remains uncertain.
- 01DEFINE
Select an account, date range and consistent definition of a trade.
- 02VERIFY
Check missing trades, duplicates, timestamps, costs and initial risk.
- 03COMPARE
Read win rate, payoff, expectancy and drawdown together.
- 04INSPECT
Review the trades and rule adherence behind unusual results.
- 05RECORD
Document a specific finding and revisit it with more data.
FAQ
Make sense of your trading statistics.
What is trading performance analytics?
Trading performance analytics uses trade records to measure results, risk and consistency. Read win rate, profit factor, expectancy and drawdown together, then use journal context to understand how those results were produced.
Can a strategy lose money with a high win rate?
Yes. Frequent small wins can be outweighed by fewer, larger losses. Compare the size of wins and losses, include trading costs consistently and calculate expectancy for the same sample.
What is the difference between profit factor and expectancy?
Profit factor compares total winning P/L with the absolute total of losing P/L. Expectancy measures the average result per trade. Both depend on the sample, units and cost convention you use.
How do I calculate expectancy in R?
Divide each closed trade’s net result by its initial monetary risk, then average those R-multiples. Keep the original risk denominator. Trades without a valid positive initial risk cannot be included in an R-based average without an explicit policy.
Why do balance and equity drawdown differ?
Balance drawdown follows realized account results. Equity drawdown also reflects unrealized profit and loss on open positions. A closed-trade history alone can miss the largest intratrade equity decline.
What is a good profit factor or win rate?
There is no universal threshold that establishes a robust trading process. Check sample size, average win and loss, drawdown, costs and changing market conditions. Historical statistics do not guarantee future results.
Can I use PULSE without an MT5 connection?
Yes. PULSE supports manual trade entry and supported imports. CONNECT is optional and adds the manual MT5 execution, position sizing and synchronization workflow.
BTI PULSE · PERFORMANCE & PROCESS
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into a better review.
Bring your trades, account history and journal context into one performance center.
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