Read win rate next to payoff, never alone
Win rate is winning closed trades divided by all closed trades in the selected sample. It says nothing about the size of either side. Six wins of $100 against four losses of $200 is a 60% win rate and a $200 loss before costs.
Pair it with profit factor, the sum of positive net P&L divided by the absolute sum of negative net P&L, and with the reward / risk ratio, which compares your average winner to your average loser. Orderblock shows all three from the same closed-trade set, so they always describe the same sample.
Edge cases are handled explicitly rather than rounded away. A sample with profits and no losses produces an infinite profit factor, not a large number that looks comparable; a sample with no closed trades is unavailable rather than zero.
Every metric, with the formula attached
Each figure in the product carries its own definition, including what it excludes. These are those definitions.
- Net P&L
- Sum of each closed trade’s net P&L, in the selected account currency.
- Win rate
- Winning closed trades ÷ all closed trades × 100. Break-even trades stay in the denominator. Open trades are excluded.
- Profit factor
- Sum of positive net trade P&L ÷ absolute sum of negative net trade P&L. No losses with positive profits produces ∞; no closed trades, or only breakeven trades, is unavailable.
- Reward / risk ratio
- Average net winning trade ÷ average absolute net losing trade. This is realized payoff, not the planned reward / risk at entry. Requires both winners and losers.
- Expectancy
- Net realized P&L ÷ number of closed trades. Includes break-even trades and fees.
- Average realized R
- Average of net trade P&L ÷ recorded risk amount. Only closed trades with a positive recorded risk amount are included.
- Maximum drawdown
- Largest peak-to-trough decline in cumulative closed-trade P&L. Starts at zero and excludes unrealized positions and deposits. Trades that close at the same instant move equity once, together, so row order cannot create a drawdown.
- Average day P&L
- Net closed-trade P&L divided by UTC dates with at least one closed trade. Inactive days are excluded.
- Winning streaks
- Longest consecutive sequence of positive net closed-trade results, ordered by close time and then trade ID. A loss or break-even trade resets the sequence.
- Losing streaks
- Longest consecutive sequence of negative net closed-trade results, ordered by close time and then trade ID. A win or break-even trade resets the sequence.
- Trading fees
- Sum of recorded fees on closed trades. Broker-reported net P&L already includes costs; fees are not subtracted twice.
Four cuts that usually change someone’s mind
Aggregate performance rarely tells you what to stop doing. These breakdowns do.
- By strategy, with trade counts visible
- A strategy with three trades is not evidence. Orderblock shows the sample size next to every grouped result so a flattering average with n=4 cannot masquerade as a finding.
- By instrument and market
- Concentration is the most common hidden risk in a retail account. Seeing that most of your loss came from one pair changes the next decision more than any headline figure.
- By holding time
- Compare your shortest and longest holds. Strategies that survive intraday often do not survive overnight financing, and the reverse happens more often than traders expect.
- By day and week, through the calendar
- The trading calendar puts net P&L on the date it closed, in UTC. Click a day to reach the trades behind it rather than stopping at the total.
Costs and drawdown, stated honestly
Net results include commissions, fees and swaps where the source provides them. Broker-reported net P&L already contains those costs, so Orderblock does not subtract them a second time. Where a source omits fees, the figure says so instead of quietly reporting gross as net.
Maximum drawdown here is the largest peak-to-trough decline in cumulative closed-trade P&L. It starts at zero and excludes open positions and deposits. That is a narrower definition than an equity-curve drawdown that marks open positions to market, and the difference matters when you compare against another tool.
Realized R requires a recorded initial risk amount, so only trades where you logged risk are included in the average. This is deliberate: an R figure computed from an assumed risk is worse than no R figure.
Trading analytics questions
What is a good profit factor?
Profit factor above 1.0 means gross profits exceeded gross losses over the sample. Context matters more than the number: a profit factor of 1.3 over 400 trades is stronger evidence than 2.5 over 12. Always read it with the trade count and the period, and remember it is computed from closed trades only.
How do I analyse trading performance across several accounts?
Filter to one account at a time when account currencies differ. Adding results across currencies without a documented conversion rate and date produces a number that means nothing. Orderblock keeps each account’s currency attached to its imported results for exactly this reason.
Does a date filter change the metrics?
Yes. Every metric is computed from the closed trades inside the selected range, so changing the range changes the sample. Compare periods with their trade counts in view.
Can I export the underlying data?
Yes. Complete trade history exports are available, and the data explorer lets you inspect the rows behind any figure before you trust it.