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Why win rate and P/L belong together

A high win rate can still lose money, while a lower win rate can finish ahead. These fictional records show why.

Written by
Today Trade Journal
Last reviewed
2026-09-02

Win rate only tells you the share of completed trades that ended positive. It does not show how much the average win made or how much the average loss cost.

Today Trade Journal
SAMPLE DATA
MONTHLY P/L+$284
WIN RATE62%
AVG P/L+$24

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.

Before you save

Check this entry

  • Average win and average loss were reviewed with win rate
  • The comparison uses similar periods and trade types
  • No single trade quietly dominates the total
  • The original entries were opened to confirm the reason for the difference