Glossary

Every abbreviation, every concept you'll see across Edgeworth — what it means and where you'll meet it. Jump to a category, or scroll through.

Trade outcomes

Win (W)

A trade that closed in profit. The recorded outcome and the R-multiple are both positive.

Loss (L)

A trade that hit your initial stop-loss. Recorded as −1R — one full unit of risk lost.

BE — Breakeven

A trade where you moved the stop to your entry price and were then taken out at no profit and no loss. Recorded as 0R. Distinct from a winner because no R was captured.

R / R-multiple

The standardised unit of profit and loss across Edgeworth. 1R = the amount you risked on the trade (the distance from entry to initial stop, in price). A +2R trade made twice what you risked; a −1R trade took your full risk.

Max R

The highest R-multiple the trade reached intra-trade — i.e. what was "on the table" at the best point. Edgeworth records this per trade so the analytics can re-score the same trade under different exit rules.

Final R

The R-multiple you actually walked away with, after applying your chosen exit rule (No BE / RR fixed / Strategy BE / partials). The pair Max R → Final R is what most of the analytics compare.

Net R

Cumulative R across the selected trade set. The sum of every trade's Final R. The headline number for "how am I doing".

Performance & expectancy

EV — Expected Value

The R you can expect per trade if you ran the same setup many times. EV = (win rate × avg win R) − (loss rate × 1R). Positive EV is the textbook definition of an edge worth trading.

WR — Win Rate

The percentage of trades that closed in profit, computed over all closed trades (wins + losses + breakevens). A 60% WR with 1R wins beats a 90% WR with 0.2R wins — always read it next to avg win R.

LR — Loss Rate

The percentage of trades that hit the initial stop-loss for a full −1R.

BE Rate

The percentage of trades that scratched at breakeven (Final R = 0). High BE rate isn't a loss but it kills compounding.

Expectancy

Used interchangeably with EV. The average R-multiple expected per trade given your win/loss/BE distribution and average sizes.

Avg Win R

The average R-multiple of winning trades only. The "upside" lever in your edge equation.

Avg Loss

The average R-multiple of losing trades. Equals −1R when stops are honoured. Stretches worse than −1R when stops are widened during the trade — a red flag in any review.

Profit Factor

Total R gained on winners divided by total R lost on losers. > 1 = net profitable. The higher the better; 2 is generally healthy.

Sample size

How many trades a stat is computed over. Under ~30 trades, any metric is essentially noise. The Deep Diver greys out filter combinations below a configurable minimum.

Risk & drawdown

DD — Drawdown

The fall from a peak in cumulative R to a subsequent trough, measured in R. Always a negative number. Drawdown is the cost of doing business — measure yours before scaling.

Max DD

The deepest drawdown in the trade set. The worst run of losing trades you (or your backtest) ever lived through. Pay more attention to this than to Net R when sizing up.

Avg DD

The average size of drawdowns across the trade set. Tells you the "typical" pain, not the worst.

R Risk

The capital risked per trade, normalised to 1 unit. Edgeworth expresses everything in R so the analytics stay account-size-agnostic.

Risk preset

A sizing rule applied across the trade history by the Curve Simulator. The built-ins are 1% of equity, fixed R per trade, and half-Kelly. Different presets re-draw the equity curve in real time.

Half-Kelly

A position-sizing rule derived from the Kelly Criterion, scaled to half its recommendation. Targets growth while damping variance — the most-used preset for traders who care about path quality, not just end value.

Breakeven rules

No BE

The simplest baseline: never move the stop to entry. Losses are −1R, wins go to the strategy's exit target. Edgeworth always includes the No BE column on every strategy so the analytics have a reference point.

RR fixed BE rule

Move the stop to breakeven once the trade reaches a fixed R-multiple — e.g. 1R, 2R. From that point the trade either hits the target (still a win) or scratches at 0R. You can run up to three different RR levels in parallel and compare them.

Strategy BE rule

A bespoke BE rule named by you — e.g. "after the BoS confirms". Used when your management is logic-based rather than purely numeric. Captured as a separate column so it can be scored alongside the fixed-RR variants.

Partial exits

Partial ladder

A sequence of R-levels at which a percentage of your position is closed. Configured in the Partial Creator and back-tested against every journaled trade in one go.

Close %

The percentage of position size sold at a given partial level. The rest of the position carries on toward the next level.

Hit rate

The percentage of trades that reached a given partial level. Falls off the further the level — Edgeworth renders this per row as a horizontal bar.

Trailing stop

A stop that moves with price to lock in profits as the trade runs. An alternative to fixed partials for capturing upside.

Deep Diver taxonomy

Setup

The named pattern your trade fits — e.g. London Open, NY Reversal. Tag each journal entry with a setup so the Deep Diver can slice by it.

Direction

How the strategy reads market direction. Edgeworth's direction taxonomy includes EMA bias, Liquidity, Structure, and Range, plus free-text customs.

Confirmation

The trigger that confirms your direction read before entry — BoS, FVG, Impulse, candle pattern, etc.

Entry criteria

The specific trigger for the entry itself — typically orderblock, candle pattern, or a strategy-specific custom.

FVG — Fair Value Gap

A 3-candle imbalance: the middle candle leaves a gap between the wicks of the two candles either side. Used both as a confirmation signal and as an entry trigger (price returning to fill the gap).

BoS — Break of Structure

A close beyond a recent swing high (in an uptrend) or low (in a downtrend), signalling a structural shift. The bread-and-butter confirmation in price-action strategies.

Liquidity (sweep)

Price taking out a prior swing high or low — usually to grab the stop-orders sitting there — before reversing. Frequently the "real" trigger of a setup.

Session

The time window the trade was taken in — Asia, London, or NY. Filter by session in the Deep Diver to find which part of the day actually feeds your edge.

Edgeworth tools

Deep Diver

The variable-slicing tool. Pivot trades by any combination of filters (hour, FVG, session, …) and watch the donut, R curve, win rate, and Net R redraw live so you can see where the edge actually lives.

Workspace

The journal where every trade is entered by hand. The source of truth that feeds every analytical tool downstream.

Analysis

The headline-stats dashboard — Net R, win rate, drawdown, expectancy — glanceable in seconds and drillable down to the trade level on click.

Curve Simulator

Re-draws your equity curve under different risk presets (1% of equity, fixed R, half-Kelly) so you can stress-test your worst drawdown before risking a cent.

Partial Creator

Sketches partial-exit ladders and back-tests them against your journaled trades. Net R, donut, equity curve, and AI-suggested schemes update in real time.

Backtest vs Live

Lays a live strategy next to the backtest it came from. Same setups, two timelines — useful for finding where the edge leaks before scaling.

General trading

Long

A trade that profits if price goes up. You buy and aim to sell higher.

Short

A trade that profits if price goes down. You sell-to-open and aim to buy back lower.

Entry

The price you opened the trade at.

Stop / Stop-loss

The price at which the trade closes for a loss. The distance from entry to stop is what defines 1R.

TP — Take Profit

A price level at which part or all of the position closes for a profit. A trade can have multiple TPs (see Partial ladder).

RR — Risk-Reward ratio

The ratio of potential reward to risk on a trade. 1:2 means you risk 1 unit to make 2. The higher your RR, the lower your required win rate to remain profitable.

Symbol

The instrument traded — ES, NQ, GBP/USD, BTC, etc. Edgeworth uses the symbol as a filter dimension across all tools.

Equity curve

A line chart of cumulative R over time. The truest single-image read of how a strategy is performing.

Sample period

The date range covered by the trades being analysed. Always disclose your sample period when sharing results — "+62R" over 30 days is very different from over 12 months.