A 70% win rate can still lose
Imagine 10 trades with seven $10 wins and three $40 losses. Gross wins total $70 and losses total $120, leaving -$50 even though the win rate is 70%.
Read four figures together
Do not ask one number to evaluate the whole record. Review win rate, average win, average loss, and total P/L over the same period.
- Win rate: positive completed trades divided by all completed trades
- Average win: mean P/L among winning trades
- Average loss: mean P/L among losing trades
- Total P/L: the sum of every result in the selected period
Match the period and trade type
A week of spot trades and a year of leveraged futures do not share the same period or exposure. Narrow the comparison to similar dates, assets, and trading rules before reading the difference.
With only a few records, one large trade can move every average, so inspect the underlying entries as well.
Use statistics to form a question
When a difference appears, open the related trades before turning it into a rule. Check whether one exceptional result changed the total or whether a similar action repeated across several entries.