Free Trading Performance Calculators
Win rate is the most misleading number in trading
A thirty-eight percent win rate can be highly profitable and a seventy-eight percent win rate can lose money steadily. Four calculators for the statistics that actually decide which one you have.
Trading Statistics Calculator
Turn wins, losses and average sizes into win rate, profit factor, payoff ratio, expectancy and the break-even win rate.
Result
Expectancy per trade
$115
- Win rate
- 38%
- Profit factor
- 1.66:1
- Payoff ratio
- 2.71:1
- Break-even win rate
- 26.95%
- Net profit
- $11,500
- Gross profit
- $31,920
- Gross loss
- $19,220
- Total fees
- $1,200
- Total trades
- 100
- Expectancy per 100 trades
- $11,500
- Assessment
- Positive expectancy on this sample
This tool is for informational and educational purposes only. It is not financial or investment advice, and past performance does not guarantee future results.
Profit factor above 1.0 means gross wins exceed gross losses. Expectancy tells you what an average trade is worth, which is the number that compounds.
A sample of fewer than roughly one hundred trades tells you very little. Treat short-run statistics as provisional.
Read the full guide, worked examples and FAQ for this calculator →
Popular tools
The calculators visitors to TradingPerformanceTools open most often.
- Performance
Trading Statistics Calculator
Turn wins, losses and average sizes into win rate, profit factor, payoff ratio, expectancy and the break-even win rate.
Open calculator → - Performance
Trading Expectancy Calculator
Calculate expectancy per trade in currency and in R, projected forward to a month and a year at your trade frequency.
Open calculator → - Performance
Maximum Drawdown Calculator
Paste an equity curve and find the largest peak-to-trough fall, the current drawdown, and the gain required to recover.
Open calculator → - Performance
Kelly Criterion Calculator
Calculate the full Kelly fraction from win rate and payoff, and the fractional Kelly most traders actually use.
Open calculator →
Traders quote win rates because they are easy to compute and easy to feel good about. Expectancy is harder to quote and is the only figure that determines whether a record compounds upward - and it routinely disagrees with the win rate.
These tools calculate the set that matters: expectancy and profit factor from your record, the drawdown the equity curve actually produced, and the Kelly fraction your measured edge implies as an upper bound on position size.
Browse by category
Performance
Win rate, expectancy, profit factor and drawdown.
Why use TradingPerformanceTools
Expectancy, in currency and in R
What an average trade is worth. Expressed in R it describes the strategy rather than the account, which is what makes it comparable over time.
The break-even win rate
Every payoff ratio implies a win rate below which the strategy loses. Comparing that against your measured rate is the whole exercise.
Drawdown from the sequence
The same trades in a different order produce the same total and a different worst case. Drawdown is a property of the sequence, so it is measured from the curve.
Kelly as a ceiling
The growth-maximising fraction is a hard upper bound rather than a recommendation, and a negative result is a complete answer.
How it works
- Start with expectancy - if it is negative, nothing else on this site helps.
- Check the win rate against the break-even rate your payoff ratio requires.
- Measure the maximum drawdown from the equity curve, not from memory.
- Use Kelly as an upper bound on size, and treat fractional Kelly as the practical version.
Frequently asked questions
How many trades do I need before these statistics mean anything?
Under about a hundred, the win rate and average sizes are unstable enough that expectancy can flip sign on a handful of trades. Calculate them anyway, but treat a short record as provisional.
Why does my high win rate not produce profits?
Almost always because the average loss is large relative to the average win. A high win rate is easy to manufacture by taking profits early and letting losses run, and it destroys expectancy.
What profit factor or expectancy should I target?
This site does not suggest thresholds. Positive and stable across a large sample matters far more than any particular figure, and a published benchmark would be an invented statistic.
Should I trade at full Kelly?
The tool makes no recommendation. What it will say is that full Kelly produces drawdowns most traders will not sit through, which is why fractional Kelly is standard practice.
Is any of this financial advice?
No. Every tool here performs arithmetic on your own trading record, for informational and educational purposes only, and nothing you enter leaves your browser.