A good dashboard is not the one with the most numbers. It is the one that helps you ask better questions. Win rate, average win and loss, expectancy, profit factor, drawdown, and costs describe different parts of the same record.
Net profit and loss
Net P&L is the result after the costs included in your calculation. It answers whether the recorded sample gained or lost money, but not how consistently, how much risk was taken, or whether the result depended on one unusual trade.
Always make clear which costs are included. A broker statement remains the authoritative record for actual account results.
Win rate
Win rate is winning closed trades divided by total closed trades. It is easy to understand and easy to misuse. A high win rate can still lose money when average losses are much larger than average wins; a lower win rate can be viable when wins are sufficiently larger.
- Compare win rate with average win and average loss
- Use a meaningful sample
- Do not treat breakeven trades inconsistently
Average win, average loss, and payoff ratio
Average win and average loss describe the typical magnitude of outcomes. Their relationship is often summarized as a payoff ratio. Together with win rate, they help explain how a result was produced.
Averages can be distorted by outliers, so review the distribution and largest trades rather than relying on one ratio.
Expectancy
Expectancy estimates the average outcome per trade in the recorded sample: win probability multiplied by average win, minus loss probability multiplied by average loss. It combines frequency and magnitude into one figure.
Historical expectancy is descriptive, not a promise. Market conditions, execution, sample size, and strategy changes can make future results different.
Profit factor
Profit factor is gross winning value divided by gross losing value. Above 1 means gross wins exceeded gross losses in the sample; below 1 means the opposite. It can be inflated by a small sample or one large winner.
Drawdown, fees, and rule adherence
Outcome metrics are incomplete without a view of risk and process. Drawdown shows the decline from a prior equity peak. Fees show how much activity costs. Rule adherence shows whether the result came from the intended process.
Review these metrics together. The goal is not to maximize every number but to understand the trade-offs in the process you actually followed.
THE TAKEAWAY