Master Trading
Metrics
A stair-step approach from basics to advanced analytics. Start simple, graduate when ready.
Your Learning Path
Follow the progression from beginner to expert
Getting Started
Learn the basics of consistency with Win Rate. Perfect for beginners.
Understanding Returns
Discover how returns work—both per trade and total performance.
Advanced Analytics
Master risk-adjusted performance with the Sharpe Ratio.
What is it?
The percentage of your trades that make a profit
Why it matters
Shows how consistent a publisher is at picking winning trades
How we calculate it
Example
65% win rate means 65 out of 100 trades were profitable
What's a good value?
Best for
Beginners who want to understand basic consistency
⚠️ Common Mistake
A 90% win rate can still lose money if the winning trades are small and the losing trades are huge.
Ready to Graduate?
Once you understand win rate, you're ready to learn about returns. A high win rate doesn't always mean high profits—move to Level 2 to see why.
Combining Metrics for Better Decisions
Conservative Approach
Look for: High Win Rate (65%+) + Moderate Average Return (3-5%)
This combination suggests steady, consistent gains with lower volatility. Good for preserving capital while growing steadily.
Balanced Approach
Look for: Decent Win Rate (55-60%) + Strong Total Return (30%+) + Good Sharpe (1.5+)
This suggests skillful trading with acceptable risk. The publisher doesn't win every time, but manages risk well and delivers solid returns.
Aggressive Approach
Look for: High Total Return (50%+) + Exceptional Sharpe (2.5+)
Win rate matters less if the Sharpe ratio is high—this means big wins outweigh the losses and volatility is managed well.
Frequently Asked Questions
Why do some publishers have high win rates but low returns?
This happens when publishers take quick profits on winners but let losers run. For example, winning 90% of trades with +1% gains but losing 10% of trades at -15% still results in a net loss. Always look at average return alongside win rate.
What's more important: win rate or average return?
Neither is more important—they work together. You need both to be positive to make money. A publisher with 40% win rate can still be profitable if their average winning trade is much larger than their average losing trade.
When should I care about Sharpe Ratio?
When you're comparing publishers with similar returns. Sharpe ratio tells you who's achieving those returns with less volatility (lower risk). It's especially useful when you're managing a larger portfolio and want to minimize wild swings.
How many signals should a publisher have before I trust their metrics?
At minimum, look for 20+ closed signals. 50+ signals give you more statistical confidence. With only 5-10 signals, even skilled publishers can look exceptional or terrible due to luck alone.
What's the difference between Average Return and Total Return?
Average Return treats all trades equally—it's the mean return per signal regardless of position size. Total Return is allocation-weighted, meaning larger positions have more impact on the final number.
When Average Return > Total Return: The publisher isn't effectively sizing their positions. They're putting small allocations on their best ideas and larger allocations on weaker trades. This suggests poor portfolio management or lack of conviction.
When Total Return > Average Return: The publisher demonstrates strong position sizing discipline. They're allocating more capital to their highest-conviction trades. When they go big on a signal, it's a powerful confidence indicator—they're putting their money where their analysis is strongest.
Put Your Knowledge to Practice
Browse publishers and use these metrics to find the right traders for your strategy