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Articles
On trading, journaling, and the tools we build at Tradeways.
RiskMetricsMonte Carlo simulation for trading results
Learn how projection and reshuffle simulations turn your trade history into fan charts, drawdown ranges, and testable risk questions.
6 min read
JournalingMetricsHow to build an Excel trading journal
Build an Excel trading journal with a stable trade table, review fields, checks, and clear criteria for moving to dedicated software.
8 min read
GlossaryMetricsR-multiple
An R-multiple expresses a trade result as profit or loss measured in units of the initial risk you put at stake when you entered.
3 min read
GlossaryMetricsRealized vs. unrealized P&L
Realized P&L is profit booked when you close a position; unrealized P&L is the open, mark-to-market gain or loss on positions still running.
3 min read
GlossaryMetricsBreakeven win rate
The minimum percentage of trades you need to win to break even at a given reward-to-risk ratio, before costs.
3 min read
GlossaryMetricsTrading expectancy
Expectancy is the average profit or loss you can expect per trade, measured across a large sample of trades rather than any single outcome.
3 min read
GlossaryMetricsProfit factor
Profit factor is your gross profit divided by your gross loss — the total dollars your winners made against the total dollars your losers cost.
3 min read
GlossaryMetricsWin rate
Win rate is the share of your closed trades that finished in profit, expressed as a percentage.
3 min read
GlossaryMetricsAverage win / average loss
The payoff ratio: your mean profit per winning trade divided by your mean loss per losing trade, measuring how much winners outsize losers.
3 min read
GlossaryMetricsSharpe ratio
The Sharpe ratio measures risk-adjusted return: your average excess return over the risk-free rate divided by the volatility of your returns.
3 min read
MetricsRiskMaximum Adverse Excursion (MAE)
The worst unrealized loss a trade survived — and what your MAE distribution says about whether stops are doing real work.
3 min read
MetricsPlaybookMaximum Continuation Excursion (MCE)
What did the market do after you closed? MCE measures the move you missed — and reveals whether your exit was on time or premature.
6 min read