The dashboard and what each metric means

The dashboard is the summary view: headline figures, a cumulative P&L curve, a P&L calendar, and a performance report card. Every number on it is recomputed from your trades each time it renders. Nothing derived is ever stored, so correcting a trade corrects everything downstream of it at once.

R-multiple

R is your result expressed in units of the risk you took: a trade where you risked $100 and made $250 is +2.5R. It is the single most useful normalisation in the app, because it lets a small position and a large one be compared honestly. It requires a stop, which is why the log form pushes you to set one.

If you would rather read everything in R than in dollars, switch the metric display preference in Settings → Preferences; figures across the app follow it.

Profit factor and expectancy

• Profit factor — gross profit divided by gross loss. Above 1 means your winners outweigh your losers in total. It says nothing about how often you win.
• Expectancy — the average result per trade. This is the figure that actually tells you whether repeating what you did is worth doing.
• Win rate — the share of closed trades that made money. On its own it is close to meaningless: a 30% win rate with 4R winners is an excellent system, and a 90% win rate can be a disaster waiting for its first real loss.

Drawdown

Maximum drawdown is the largest peak-to-trough decline in your equity curve. It is the figure most closely related to whether a strategy is survivable — a system you cannot sit through is not a system you have. It is measured against the capital in place at each point in time rather than your current balance, so deposits and withdrawals never create or erase a drawdown.

Benchmark alpha

Alpha compares your return over a period against simply holding a benchmark over the same period. It answers the question that matters after a good month in a rising market: would doing nothing have done better? Benchmark comparison uses live market data and is only available when that is switched on.

Open positions

Realised statistics only ever count closed trades, so an open position cannot flatter or damage your win rate while it is still running. Open positions appear separately, marked against a current price for unrealised P&L, and they do count toward the drawdown guardrail — an unbooked loss is still a loss.