Trading statistics
A glossary of the stats the journal actually prints, with the usual caveats about sample size.
Core counts
Win rate is wins divided by decided trades. Expectancy is average R or average currency per trade. Scratch trades are zeros; they should not inflate a win rate.
Quality ratios
Profit factor, SQN, and K-ratio punish noisy books. Kelly % is a function of edge and payoff; treating it as “max leverage” is how accounts die.
Honesty rule
54Trades will not invent a 70% win rate for marketing. Crypto prediction pages publish the walk-forward hit rate the model actually got on that series.
FAQ
Which stat should I optimize?
None of them in isolation. Read profit factor and SQN together with N and max drawdown of the sprint.