Metrics glossary

Every number in Tradr is derived from your fills. Nothing is stored as a running total, so correcting a fill corrects every figure that depends on it.

This page gives the exact definition of each one, including the parts that are easy to assume wrongly.

Per position

Average entry / average exit

The quantity-weighted average price across the fills of that type.

Two entries — 100 at 190.00 and 50 at 195.00 — average to 191.6667, not 192.50. The larger fill counts for more.

Gross P&L

(average exit − average entry) × quantity exited × direction × contract size

Direction is +1 for a long and −1 for a short. Contract size is 100 for an option and 1 for a stock. Fees are not included.

Net P&L

Gross P&L, minus the fees attributable to the quantity exited. This is the figure that reaches your account balance.

Fees

Not simply “the fees on the exit”. Each exit carries:

• its own fee, plus
• a proportional share of the entry fees, for the quantity being closed.

Close 60 of 150 units and 60/150 of the entry fees come with it. Close the remaining 90 and the rest follows. This keeps a partial exit from either escaping its share of the entry cost or paying all of it up front.

The displayed fee figure is derived as gross minus net, so gross − fees = net holds exactly rather than to within a rounding error.

Return %

net P&L ÷ (average entry × quantity exited × contract size + allocated entry fees) × 100

The denominator is what the closed portion cost you. For a short position it is the proceeds of the sale, not the margin you posted — margin varies by broker and Tradr does not know yours.

Target R/R

|target price − average entry| ÷ |average entry − stop loss|

Planned reward per unit of risk, from the trade plan you recorded.

It moves when you scale in. Both distances are measured from the average entry, so a second fill at a worse price re-bases the ratio even though your target and stop have not moved.

Null when there is no target, no stop, or when the stop equals the average entry — the risk per unit would be zero.

Actual R/R

(average exit − average entry) × direction ÷ |average entry − stop loss|

What you actually got, in the same units as the plan. Signed — negative when the trade went against you, so a −1.0 means you lost exactly the risk you planned.

Across positions

These appear on the performance page. They count closed positions only, in a single currency at a time.

Win, loss, breakeven

A position is classified by its net P&L rounded to the currency’s smallest unit. Exactly zero after rounding is a breakeven, not a win and not a loss. A position that made half a cent is a breakeven in USD.

Win rate

wins ÷ (wins + losses) × 100

Breakevens are excluded from the denominator, not counted as losses. A record of 6 wins, 3 losses and 1 breakeven gives a 66.7% win rate, not 60%.

That choice makes the figure comparable between a strategy that scratches trades and one that does not. Breakevens are reported separately as the breakeven rate, which does divide by the total.

Null when nothing has been decided — no wins and no losses in range.

Breakeven rate

breakevens ÷ total positions × 100

Unlike win rate, this one uses every closed position as its denominator.

Average win / average loss

The mean net P&L of winning and of losing positions respectively. Average loss is negative. Breakevens are in neither.

Profit factor

sum of winning net P&L ÷ |sum of losing net P&L|

Above 1.0 means the wins outweigh the losses. Null when there are no wins or no losses — not infinity, and not zero. With no losses there is no meaningful ratio, and reporting one would flatter a two-trade record.

Largest win / largest loss

The single best and single worst net P&L in range.

Equity curve

The running total of net P&L, bucket by bucket, over the range you selected. It starts at zero rather than at your account balance: it shows what your trading did, not what your account is worth.

Bucket boundaries come from your reporting timezone, described below.

Things worth knowing

Realized P&L does not wait for a close. A partial exit realizes its share immediately, so an open position can carry a realized P&L and contribute to your balance. The performance statistics above are a different question — they count positions that have gone flat, which is why a half-closed position appears in your balance but not yet in your win rate.

Day, week and month come from your reporting timezone. Tradr buckets P&L in the zone stored against your user, not the zone of the browser you are reading from. A fill late in the evening lands in the same bucket wherever you open Tradr. Set the zone under Settings → Profile.

That zone is not an account’s trading-day timezone, and neither is derived from the other. The trading-day timezone belongs to one account and decides whether a position can be re-entered the same day. The reporting timezone belongs to you and decides how these figures are cut.

Currencies are never mixed. Statistics are computed per currency. Positions in a currency Tradr has no rate for are excluded and reported as excluded rather than silently dropped.

A reopened position keeps its last flat figures until it goes flat again. Recomputing from the current fills would give a different number, because the fills have changed since — so the last completed result is held rather than recalculated.

Next steps

• Review performance & P&L — where these appear.
• Log and manage positions — where the fills come from.
• Accounts & the multi-currency ledger — how P&L reaches a balance.