The Most Important Trading Journal Metrics
Win rate isn't enough. Here are the metrics that actually tell you if you have an edge — and how to calculate them.
Win rate alone is meaningless. A 90% win rate with 1:10 risk-reward loses money. A 30% win rate with 5:1 risk-reward is highly profitable. The metrics that matter combine win rate WITH risk-reward.
The 5 metrics every trader should know: (1) Win Rate — percentage of trades that are profitable. (2) Profit Factor — gross profits / gross losses (anything above 1.5 is solid). (3) Expectancy — average profit per trade (should be positive). (4) Sharpe Ratio — return / volatility (measures consistency). (5) Max Drawdown — worst peak-to-trough decline (measures risk).
Calculation formulas: Expectancy = (Win Rate × Avg Win) - (Loss Rate × Avg Loss). Profit Factor = Sum of Wins / Sum of Losses. Sharpe = Mean Return / Std Dev of Returns. Recovery Factor = Total Profit / Max Drawdown. These should be calculated monthly and tracked over time.
The metric most traders ignore: expectancy by setup type. Your overall expectancy might be +$15/trade, but breakout trades might be +$40 while mean reversion trades are -$20. Without this breakdown, you can't allocate your attention to what works.
What TradeRipper Gives You
- Auto-capture for Tradovate on TradingView
- CSV import for any broker
- Real-time psychology tagging
- 14+ analytics charts
- Trade review workflow
Ready to start journaling?
7-day free trial. No credit card required. Full access to everything.
Start Free Trial$14.99/mo or $119.99/yr after trial. Cancel anytime.
Frequently Asked Questions
How does a trading journal help?
A journal reveals patterns in your trading that are invisible without data: which setups work, how emotions affect your P&L, and whether your discipline is improving over time.
Is there a free trial?
TradeRipper offers 7 days of full access, no credit card required. But you can also start with a free spreadsheet — the tool matters less than the habit.