What You'll Learn
- ✓Understand key P&L metrics
- ✓Analyze win rates effectively
- ✓Use MFE/MAE for optimization
- ✓Study trade distributions
- ✓Identify edge in your strategy
- ✓Make data-driven refinements
Understanding P&L Metrics
Your dashboard and first automated paper trade | RelayDesk Onboarding 5/5
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Welcome to part five, the final part. Jordan's bot is live in paper. Let's take a look around and watch the first trade come in. Your dashboard opens with a two-minute tour. Take it now or come back to it later. Everything is one click away: bots, signals, trades, the live monitor, analytics, news, research, and the assistant. On the right, your watchlist, the theme, and the paper or live switch. At the top, your portfolio, its value and how it has moved over a day, a month or all time. The stat row tells you everything at a glance: today's P&L, account value and buying power, active bots, your 7-day win rate, and open positions. Every bot in one list. Its status, its trades, its P&L today. Pause or start any bot right from here. Along the bottom, index prices and whether the market is open. And paper stays selected until you choose live. 10:42. A signal fires. Moments later, Jordan's bot buys two same-day SPY calls in paper. The bot row, today's P&L, and open positions update live, while RelayDesk manages the exits. And that is onboarding. Let your bot run in paper. Then explore the feature videos to make it your own. Welcome to RelayDesk.
Key performance indicators every trader should track:
- Total P&L: Overall profit/loss
- Win Rate: Percentage of winning trades
- Profit Factor: Gross profit / gross loss
- Average Win: Mean profit on winning trades
- Average Loss: Mean loss on losing trades
- Expectancy: Expected value per trade
- Max Drawdown: Largest peak-to-trough decline
- Sharpe Ratio: Risk-adjusted returns
Win Rate Analysis
Win rate alone doesn't tell the full story:
- High win rate (>60%) can still lose money if avg loss > avg win
- Low win rate (30-40%) can be profitable with good risk-reward
- Look at win rate in context of profit factor
- Analyze win rate by time of day, day of week
- Compare win rate across different symbols
- Track how win rate changes with position size
Max Favorable/Adverse Excursion
MFE and MAE reveal optimal exit levels:
- MFE: How far trades move in your favor before closing
- MAE: How far against you before closing
- Identifies if you're exiting too early or late
- Shows optimal stop-loss and take-profit levels
- Reveals if trailing stops would help
- Data-driven exit strategy optimization
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