Six numbers, computed on trades — not on fills
Because every trade behind these numbers already went through FIFO round-trip pairing, the six core figures measure decisions rather than raw executions: win rate, expectancy, profit factor, average win, average loss and max drawdown. That distinction sounds small until you scale in and out of a position five times in one trade — a naive tool counting fills instead of trades reports a win rate that doesn’t match how the trade actually felt or performed.
| Metric | What it answers |
|---|---|
| Win rate | What share of your closed trades were profitable |
| Expectancy | The average rupee (or account-currency) outcome per trade you take |
| Profit factor | Gross profit divided by gross loss across the window |
| Average win | The typical size of a winning trade |
| Average loss | The typical size of a losing trade |
| Max drawdown | The largest peak-to-trough dip in your account over the window |
The same six numbers, sliced four ways
A single win rate for “all my trades” rarely tells you what to change. So every one of those figures also breaks down by setup tag, by mistake tag, by symbol and by expiry — days-to-expiry for options trades. That’s the difference between “my win rate is 58%” and “my 0–1 DTE NIFTY trades are where the losses actually cluster,” which is a decision you can act on. The mistake breakdown lines up directly with mistake tagging — tag a trade, and it shows up in that slice the next time you check.
Why expectancy outranks win rate
A 70% win rate sounds like a strategy working. It can still be a losing one if the average loss is four times the average win — three small wins funding one trade that erases them all. Expectancy is the number that actually settles the argument: it’s the average rupee (or account-currency) outcome per trade, win rate and average win/loss folded into one figure, so “is this actually working” has a single answer instead of three numbers pulling in different directions. Profit factor tells a similar story from a different angle — gross profit over gross loss — and max drawdown adds the piece expectancy alone can’t: how bad the worst stretch got along the way, even for a strategy that’s profitable on average.
Where the numbers show up next
These aren’t numbers you have to remember to check. The P&L calendar shows when they happened, day by day, and the AI weekly review reads them every Sunday and writes what changed. If you’d rather understand the math first, win rate vs. expectancy walks through why the second number matters more than the first.
What this isn’t
Analytics here means one thing: numbers computed from trades you already made. PnL Booknever recommends a setup, a symbol or a position size based on these figures, and none of them are a forecast. They describe what happened; what you do with that is entirely yours.
Frequently asked questions
What analytics does PnL Book actually compute?
Six numbers on every account: win rate, expectancy, profit factor, average win, average loss and max drawdown — each computed from your paired round-trip trades, not raw fills.
Can I see which setups or symbols are actually working?
Yes. The same numbers break down four ways: by setup tag, by mistake tag, by symbol and by options expiry (days to expiry). That's how "my NIFTY weekly options are dragging the month" turns from a feeling into a number.
What does the expiry breakdown show, exactly?
Your closed options trades grouped by days-to-expiry at entry, so you can see whether trading near expiry (0–1 DTE) is actually where your losses cluster, rather than assuming it.
Does PnL Book tell me which setup or symbol to trade next?
No. It analyzes your own past trades and shows you what already happened, in numbers. It never recommends a setup, gives a price target or provides investment advice.