On December 9, 2025, we released a major update to PnL Ledger. With this update, we added a new layer on top of your calendar and daily PnL entries. Alongside your usual week, month, and year views, you’ll now see an analytics screen with win rate, profit factor, and expectancy.
These numbers turn your trade history into a simple way to check whether your strategy works over time – not just on a green or red day. Keep reading to learn how to use these features and lock in Premium at the old price before December 15.
Same journal, deeper insight
PnL Ledger has always been about quick, honest tracking: log your result, add a short note, and see your progress build up across weeks and months. Now, the app uses your new intraday entries to calculate deeper stats in the background. Each trade you add for a given day is stored separately, so win rate, profit factor and expectancy are based on real trades, not just a single daily total.
In the older version of PnL Ledger, only the total PnL for each date was stored, without the individual trades behind that number. Those older daily totals still stay in your calendar, but they are not used for advanced analytics. If you want a past day to count toward win rate or profit factor, open that date and enter all trades for that session. When you save, the old single PnL value is replaced by the new set of trades and from that point on, that day is fully included in your analytics.
What win rate tells you
Win rate is the first thing you’ll notice. It’s simply the percentage of trades that ended green out of all trades you took. If you made 40 winning trades out of 80, your win rate is 50%. Traders often look at this number to see how often their setups actually pay off, especially over larger samples of trades rather than just one week. On its own, win rate doesn’t tell the whole story, but it quickly shows whether you are regularly finding solid entries.
What profit factor shows
Profit factor adds another piece. It’s the ratio between your total gains and your total losses. If your winning trades add up to $10,000 and your losing trades add up to $5,000, your profit factor is 2.0. A value above 1 means that, overall, your winners are bigger than your losers. Many traders use this number to compare different strategies or market conditions, because it reflects how efficiently a system converts risk into return over time.
Understanding expectancy
Expectancy ties everything together. It describes the average amount you can expect to win or lose per trade, based on your win rate, average win, loss rate and average loss. The classic formula is: Expectancy = (Win rate × Average win) − (Loss rate × Average loss). If this number is positive, your approach has a statistical edge, if it’s negative, the market is slowly taking money from you even if you feel “right” most of the time. Expectancy looks past short streaks and shows the long-run outcome of your method.
Putting the numbers together
All three metrics live in the new analytics view in PnL Ledger. As you keep logging your daily PnL and trade count, the app quietly updates these stats so you can review them at the end of the week or month. Instead of guessing why your equity curve feels choppy, you can see whether the issue is a low win rate, oversized losses, or simply not enough trades to judge the strategy yet. Journaling already helps traders spot patterns, pairing those notes with win rate, profit factor and expectancy gives you a clearer picture of what should stay in your playbook and what needs to change.
How to use this in your daily review
Update the app, open your latest trading week, and visit the analytics screen after your next session. Keep entering your results as you always have, add a few honest notes about your decisions, and watch how these numbers settle as your sample grows. The goal isn’t perfection on any single day, but steady, informed improvement over many trades.
Upgrade now to keep your lower price for good
These new metrics – win rate, profit factor and expectancy, are part of PnL Ledger Premium. With this update we’re also changing prices: from December 15, Premium will be $4.99 per month, $29.99 per year and $59.99 for a lifetime purchase, plus tax depending on your country.
These changes will help us keep developing new features like automatic trade import from brokers, the ability to attach screenshots to trades, and a trading community where successful traders can share their experience and knowledge. Anyone who subscribes before that date keeps the current lower price for as long as the subscription stays active, and the lifetime option is effectively 50% off compared with the new price.