[{"data":1,"prerenderedAt":955},["ShallowReactive",2],{"\u002Fguides\u002Ftime-weighted-return-explained":3,"\u002Fguides\u002Ftime-weighted-return-explained-surround":946},{"id":4,"title":5,"authors":6,"badge":12,"body":14,"date":934,"description":935,"draft":936,"extension":937,"image":938,"meta":940,"navigation":941,"path":942,"seo":943,"stem":944,"updated":934,"__hash__":945},"posts\u002F3.guides\u002F13.time-weighted-return-explained.md","Time-Weighted Return Explained: Why Deposits Cannot Inflate Your Results {YEAR}",[7],{"name":8,"to":9,"avatar":10},"ShowMyTrades Team","https:\u002F\u002Fshowmytrades.com",{"src":11},"\u002Ficon-512.png",{"label":13},"Metrics",{"type":15,"value":16,"toc":917},"minimark",[17,22,26,29,32,50,54,57,60,65,68,78,86,89,105,112,117,120,125,128,242,245,265,272,276,279,381,388,401,405,408,411,506,509,515,522,529,533,536,547,553,559,562,568,581,585,588,614,620,626,632,646,652,658,664,668,675,738,744,750,755,770,774,815,819,825,831,837,843,859,865,869,896,899,910],[18,19,21],"h2",{"id":20},"your-balance-went-up-did-you","💰 Your Balance Went Up. Did You?",[23,24,25],"p",{},"An account starts the year at $10,000 and ends it at $22,050. Somebody screenshots the balance and calls it a 120% year.",[23,27,28],{},"It was not. Half of that money arrived by bank transfer.",[23,30,31],{},"This is not primarily a fraud problem, it is an arithmetic one. Balance change answers \"how much money is in the account\" — a question about your funding, not about your trading. The two get confused constantly, because balance is the number that sits at the top of every statement.",[23,33,34,35,40,41,45,46,49],{},"Time-weighted return is the fix. It ",[36,37,39],"a",{"href":38},"\u002Fglossary\u002Fwhat-is-time-weighted-return","measures what your decisions did to the capital that was actually there at the time",", and it is deliberately blind to money moving in and out. On a ShowMyTrades account page it is the metric labelled ",[42,43,44],"strong",{},"Gain",", and it sits next to ",[42,47,48],{},"Abs. Gain"," precisely so you can see when the two disagree.",[18,51,53],{"id":52},"how-twr-is-built","🧮 How TWR Is Built",[23,55,56],{},"TWR does not look at the start and the end. It looks at every day in between.",[23,58,59],{},"For each day, the return is measured on the equity you began the day with, after removing whatever cash moved that day:",[23,61,62],{},[42,63,64],{},"r = (Closing equity − net cash flow) ÷ Opening equity − 1",[23,66,67],{},"Then the daily returns are chained together by compounding:",[23,69,70],{},[42,71,72,73,77],{},"TWR = ",[74,75,76],"span",{},"(1 + r₁) × (1 + r₂) × … × (1 + rₙ)"," − 1",[23,79,80,81,85],{},"That is the whole idea. Because each deposit or withdrawal is subtracted out of the day it lands in, it never becomes a \"return\". It just changes the base that the ",[82,83,84],"em",{},"next"," day's return is measured against.",[23,87,88],{},"Two consequences follow, and both matter:",[90,91,92,99],"ul",{},[93,94,95,98],"li",{},[42,96,97],{},"Deposits and withdrawals cannot move TWR."," Not up, not down. Wiring in $50,000 changes your balance and changes nothing else.",[93,100,101,104],{},[42,102,103],{},"Size does not help you."," Doubling your capital does not double your Gain, because percentage returns are size-agnostic. This is exactly why TWR is the number that can be compared between two traders with different account sizes.",[23,106,107],{},[108,109],"img",{"alt":110,"src":111},"A balance line stepping up sharply on a $10,000 deposit while the time-weighted return line runs through the same date completely unchanged","\u002Fimages\u002Farticles\u002Fdeposit-vs-twr.svg",[23,113,114],{},[82,115,116],{},"The step is a bank transfer, so only the flat line is still describing the trading.",[23,118,119],{},"It is also why fund managers are measured this way: they control the trades, not the timing of the client's cash. Balance growth grades the client's deposit schedule. TWR grades the manager.",[121,122,124],"h3",{"id":123},"the-opening-example-resolved","The opening example, resolved",[23,126,127],{},"The trader starts with $10,000, makes $1,000, then deposits another $10,000, then makes $1,050 on the bigger base.",[129,130,131,155],"table",{},[132,133,134],"thead",{},[135,136,137,141,144,147,150,153],"tr",{},[138,139,140],"th",{},"Step",[138,142,143],{},"Event",[138,145,146],{},"Balance",[138,148,149],{},"Period return",[138,151,152],{},"Gain (TWR)",[138,154,48],{},[156,157,158,178,199,220],"tbody",{},[135,159,160,164,167,170,173,176],{},[161,162,163],"td",{},"1",[161,165,166],{},"$10,000 deposited, trading starts",[161,168,169],{},"$10,000",[161,171,172],{},"—",[161,174,175],{},"0.00%",[161,177,175],{},[135,179,180,183,186,189,192,197],{},[161,181,182],{},"2",[161,184,185],{},"Trades close +$1,000",[161,187,188],{},"$11,000",[161,190,191],{},"+10.0%",[161,193,194],{},[42,195,196],{},"+10.00%",[161,198,196],{},[135,200,201,204,207,210,213,217],{},[161,202,203],{},"3",[161,205,206],{},"$10,000 deposited, no trades",[161,208,209],{},"$21,000",[161,211,212],{},"0%",[161,214,215],{},[42,216,196],{},[161,218,219],{},"+5.00%",[135,221,222,225,228,231,234,239],{},[161,223,224],{},"4",[161,226,227],{},"Trades close +$1,050",[161,229,230],{},"$22,050",[161,232,233],{},"+5.0%",[161,235,236],{},[42,237,238],{},"+15.50%",[161,240,241],{},"+10.25%",[23,243,244],{},"Three different stories from the same account:",[90,246,247,253,259],{},[93,248,249,252],{},[42,250,251],{},"Balance growth: +120.5%."," Meaningless. It is mostly a bank transfer.",[93,254,255,258],{},[42,256,257],{},"Gain (TWR): +15.50%."," From 1.10 × 1.05 − 1. Two real trading periods, compounded.",[93,260,261,264],{},[42,262,263],{},"Abs. Gain: +10.25%."," $2,050 of net closed profit against $20,000 of deposits.",[23,266,267,268,271],{},"Look at step 3 carefully, because it is the part nobody expects. Abs. Gain ",[42,269,270],{},"fell from 10% to 5%"," on a day with zero trades. No loss occurred. The denominator simply grew. TWR did not move at all, which is the entire point of using it.",[18,273,275],{"id":274},"️-gain-vs-abs-gain-two-questions-not-two-opinions","⚖️ Gain vs Abs. Gain: Two Questions, Not Two Opinions",[23,277,278],{},"These are not rival estimates of the same thing. They answer different questions, and the platform shows both because you need both.",[129,280,281,291],{},[132,282,283],{},[135,284,285,287,289],{},[138,286],{},[138,288,152],{},[138,290,48],{},[156,292,293,306,319,332,344,357,368],{},[135,294,295,300,303],{},[161,296,297],{},[42,298,299],{},"Question answered",[161,301,302],{},"How well did this trader trade?",[161,304,305],{},"How much did this account make on the money put in?",[135,307,308,313,316],{},[161,309,310],{},[42,311,312],{},"Formula",[161,314,315],{},"Compounded daily equity returns",[161,317,318],{},"(Net closed P&L ÷ total deposits) × 100",[135,320,321,326,329],{},[161,322,323],{},[42,324,325],{},"Moves on a deposit?",[161,327,328],{},"No",[161,330,331],{},"Yes — the denominator grows",[135,333,334,339,341],{},[161,335,336],{},[42,337,338],{},"Moves on a withdrawal?",[161,340,328],{},[161,342,343],{},"Handled through the profit calculation",[135,345,346,351,354],{},[161,347,348],{},[42,349,350],{},"Comparable between traders?",[161,352,353],{},"Yes",[161,355,356],{},"Only if funding patterns are similar",[135,358,359,364,366],{},[161,360,361],{},[42,362,363],{},"Reflects dollars earned?",[161,365,328],{},[161,367,353],{},[135,369,370,375,378],{},[161,371,372],{},[42,373,374],{},"Best used for",[161,376,377],{},"Ranking skill, comparing strategies",[161,379,380],{},"Cash-on-cash reality, your own P&L",[23,382,383,384,387],{},"The practical rule: when the two disagree sharply, the gap is telling you about ",[42,385,386],{},"the funding pattern",", not necessarily about a lie. A trader who added capital every month will always show a lower Abs. Gain than Gain, because the recent deposits had little time to work. That is not deception.",[23,389,390,391,395,396,400],{},"What matters is whether the pattern is disclosed — and on an account page it is, because deposits and withdrawals are drawn directly on the ",[36,392,394],{"href":393},"\u002Fglossary\u002Fwhat-is-an-equity-curve","equity curve",". The rest of the page is read the same way in ",[36,397,399],{"href":398},"\u002Fguides\u002Freading-a-trading-account-dashboard","our full dashboard walkthrough",".",[18,402,404],{"id":403},"️-burying-a-drawdown-under-a-deposit","🕳️ Burying a Drawdown Under a Deposit",[23,406,407],{},"Now the manipulation this metric exists to defeat.",[23,409,410],{},"A trader loses 40% of a $10,000 account. Equity is $6,000. Instead of publishing that, they wire in $10,000 and let the balance chart resume from $16,000. A few weeks later they close +$800.",[129,412,413,430],{},[132,414,415],{},[135,416,417,419,421,423,425,427],{},[138,418,140],{},[138,420,143],{},[138,422,146],{},[138,424,152],{},[138,426,48],{},[138,428,429],{},"Deepest DD",[156,431,432,447,467,486],{},[135,433,434,436,439,441,443,445],{},[161,435,163],{},[161,437,438],{},"Start",[161,440,169],{},[161,442,175],{},[161,444,175],{},[161,446,212],{},[135,448,449,451,454,457,462,464],{},[161,450,182],{},[161,452,453],{},"Loses $4,000",[161,455,456],{},"$6,000",[161,458,459],{},[42,460,461],{},"−40.00%",[161,463,461],{},[161,465,466],{},"40%",[135,468,469,471,474,477,481,484],{},[161,470,203],{},[161,472,473],{},"Deposits $10,000",[161,475,476],{},"$16,000",[161,478,479],{},[42,480,461],{},[161,482,483],{},"−20.00%",[161,485,466],{},[135,487,488,490,493,496,501,504],{},[161,489,224],{},[161,491,492],{},"Closes +$800",[161,494,495],{},"$16,800",[161,497,498],{},[42,499,500],{},"−37.00%",[161,502,503],{},"−16.00%",[161,505,466],{},[23,507,508],{},"Read the headline anyone would quote: the account holds $16,800 against a $10,000 start. Up 68%.",[23,510,511,512,514],{},"Now read the row that cannot be dressed up. Gain is ",[42,513,500],{},", because the 40% hole is a permanent factor in the compounding chain: 0.60 × 1.05 = 0.63. The deposit changed the base, not the history.",[23,516,517,518,521],{},"Notice what happened to Abs. Gain in step 3 — it improved from −40% to −20% without a single trade. The loss did not shrink; the deposit total it is divided by doubled. Abs. Gain can be ",[42,519,520],{},"diluted by funding",". TWR cannot.",[23,523,524,525,400],{},"That asymmetry is why the two numbers side by side expose the trick: a loss that halves on the day money arrives is a loss being spread thinner, and the drawdown figure plus the deposit markers on the equity curve confirm it in ten seconds. The rest of that forensic routine is in ",[36,526,528],{"href":527},"\u002Fguides\u002Fverifying-trading-performance-claims","how to verify trading performance claims",[18,530,532],{"id":531},"when-abs-gain-is-the-better-number","🎯 When Abs. Gain Is the Better Number",[23,534,535],{},"TWR is the stricter measure. It is not always the more useful one, and pretending otherwise is its own kind of dishonesty.",[23,537,538,541,542,546],{},[42,539,540],{},"When you want to know about money."," TWR is a percentage of whatever equity happened to be present, so +80% on $300 of surviving equity scores the same as +80% on $80,000. ",[36,543,545],{"href":544},"\u002Fglossary\u002Fwhat-is-absolute-gain","Abs. Gain is anchored to total deposits",", which keeps the scale honest.",[23,548,549,552],{},[42,550,551],{},"When the account was funded once and left alone."," With a single deposit and no withdrawals the two converge, and Abs. Gain is the more intuitive read.",[23,554,555,558],{},[42,556,557],{},"After a recovery."," This is TWR's sharpest edge and its fairest criticism. Take step 3 of the table above and earn the full $4,000 back on the $16,000 base: that is only a +25% period return, so the trader is whole in dollars — $20,000 in, $20,000 on the account — while Gain still reads −25% (0.60 × 1.25 − 1).",[23,560,561],{},"TWR does not care that you are back to even in cash; it cares that anyone whose money was in at the peak lived through the round trip. Correct, and unforgiving.",[23,563,564,567],{},[42,565,566],{},"When you are withdrawing income."," A trader who pulls profits out monthly keeps equity permanently small. TWR handles that cleanly; Abs. Gain tells you how much was actually extracted against what was put in — usually the question that matters to the person doing the extracting.",[23,569,570,571,575,576,580],{},"Read both. One measures the driver, the other measures the trip. To see how a given Gain compounds forward, run it through the ",[36,572,574],{"href":573},"\u002Ftools\u002Fcompounding-calculator","compounding calculator",", and pair it with the ",[36,577,579],{"href":578},"\u002Ftools\u002Fdrawdown-calculator","drawdown calculator"," to price the climb out of a hole.",[18,582,584],{"id":583},"️-where-twr-lives-on-a-showmytrades-account-page","🖥️ Where TWR Lives on a ShowMyTrades Account Page",[23,586,587],{},"TWR is not one figure tucked into a stats box. The progression is stored per account and reused across several modules:",[23,589,590,593,594,596,597,599,600,596,603,606,607,596,610,613],{},[42,591,592],{},"Stats panel."," ",[42,595,44],{}," and ",[42,598,48],{}," are the first two rows of the panel, followed by ",[42,601,602],{},"Avg Daily %",[42,604,605],{},"Avg Monthly %",", which are derived from the same time-weighted series. Further down the same panel, ",[42,608,609],{},"Deposits",[42,611,612],{},"Withdrawals"," are published as their own totals alongside Balance, Equity, Highest $ and Profit. You never have to guess how much money was added — it is a line item, which is what makes the comparison between the two returns meaningful.",[23,615,616,619],{},[42,617,618],{},"Growth."," The stored TWR progression drawn against the calendar. This is the shape of the skill, with funding removed. The chart panel switches between Equity Curve, Profit, Growth, Growth by Trade and Drawdown, so flip from Growth to Equity Curve and any deposit-driven step is instantly visible: the balance jumps, the Growth line does not.",[23,621,622,625],{},[42,623,624],{},"Growth by Trade."," The same progression indexed by trade number instead of by date. It removes the flattering effect of long idle periods and shows whether the curve was built by a thousand small edges or by three lucky trades.",[23,627,628,631],{},[42,629,630],{},"Equity Curve."," Deposits and withdrawals are plotted as markers on the timeline, with the amount in the tooltip. This is where you catch a top-up landing at the bottom of a drawdown.",[23,633,634,593,637,641,642,645],{},[42,635,636],{},"Monthly Returns table.",[36,638,640],{"href":639},"\u002Fguides\u002Fmonthly-returns-table-explained","Every cell is a time-weighted figure for that month",", and the yearly and overall totals are ",[42,643,644],{},"compounded",", not summed — because a +50% month followed by a −50% month is −25%, not zero.",[23,647,648,651],{},[42,649,650],{},"Trades table."," Deposits and withdrawals appear as explicit DEPOSIT and WITHDRAWAL rows among the trades, so you can find the exact date and amount instead of inferring it from a chart.",[23,653,654,657],{},[42,655,656],{},"Custom Analysis."," The slideover lets you filter by trade type — deposits and withdrawals included as their own types — and save the filter as a reusable preset.",[23,659,660,663],{},[42,661,662],{},"Widgets."," The embeddable widget can carry the same Growth series, as a live embed or as an auto-generated image, so what sits on your own site is regenerated from the account rather than ageing like a screenshot.",[18,665,667],{"id":666},"what-twr-looks-like-across-real-accounts","📊 What TWR Looks Like Across Real Accounts",[23,669,670,671,674],{},"The numbers below are measured across the ",[42,672,673],{},"public accounts on ShowMyTrades that have trading history",", out of 10,000+ connected accounts and 15,436,464 synchronised trades (August 2026). They describe accounts published here, not traders everywhere.",[129,676,677,687],{},[132,678,679],{},[135,680,681,684],{},[138,682,683],{},"Measure",[138,685,686],{},"Median across public accounts",[156,688,689,698,706,714,722,730],{},[135,690,691,693],{},[161,692,152],{},[161,694,695],{},[42,696,697],{},"+3.2%",[135,699,700,703],{},[161,701,702],{},"Deepest drawdown",[161,704,705],{},"9.7%",[135,707,708,711],{},[161,709,710],{},"Profit factor",[161,712,713],{},"1.28",[135,715,716,719],{},[161,717,718],{},"Win rate",[161,720,721],{},"68.8%",[135,723,724,727],{},[161,725,726],{},"Sharpe ratio",[161,728,729],{},"0.05",[135,731,732,735],{},[161,733,734],{},"Closed trades",[161,736,737],{},"171",[23,739,740,743],{},[42,741,742],{},"63.0% of these accounts are positive"," on a time-weighted basis. That is a majority — and it is also the number to hold in mind when someone shows you three green months. Over a short enough window, being positive is close to a coin flip with good marketing.",[23,745,746],{},[108,747],{"alt":748,"src":749},"Four stages of history: 3 months is a sample, 6 months a hint, 12 months an argument, 24 months or more a track record, against a median account here of 171 closed trades at 2.4 hours each","\u002Fimages\u002Farticles\u002Fsample-size.svg",[23,751,752],{},[82,753,754],{},"Count the trades as well as the months: a scalper reaches a real sample in weeks, a swing trader in years.",[23,756,757,758,761,762,765,766,769],{},"Two more figures worth carrying into any comparison. ",[42,759,760],{},"38.2%"," of these accounts have drawn down more than 20%, and ",[42,763,764],{},"17.6%"," more than 50%. A Gain of +40% means one thing after an 8% drawdown and something entirely different after a 55% one, which is why the two are never read apart. And ",[42,767,768],{},"699 users here run more than one account",", 429 of them at more than one broker — capital moves between accounts constantly, which is exactly the environment where a funding-blind return metric stops being academic.",[18,771,773],{"id":772},"️-five-ways-twr-gets-misread","⚠️ Five Ways TWR Gets Misread",[775,776,777,783,789,795,805],"ol",{},[93,778,779,782],{},[42,780,781],{},"Reading Gain as money."," +200% Gain on an account that averaged $400 of equity is $800. Gain ranks skill; it does not size a payday. Check Abs. Gain and the balance alongside it.",[93,784,785,788],{},[42,786,787],{},"Assuming a Gain\u002FAbs. Gain gap means fraud."," Usually it means regular deposits. Open the Equity Curve, look at the markers, and see whether the money arrived on a schedule or arrived at the bottom of a hole. Only the second one is a story.",[93,790,791,794],{},[42,792,793],{},"Trusting TWR on a thin sample."," The median public account here has 171 closed trades. A +30% Gain over 20 trades is a distribution, not a track record.",[93,796,797,800,801,400],{},[42,798,799],{},"Comparing figures over different time spans."," +25% in fourteen months and +25% in four months are not the same claim. Use Avg Monthly % and the Monthly Returns table to put them on the same footing, and read the routine in ",[36,802,804],{"href":803},"\u002Fguides\u002Ftracking-trading-performance","tracking your trading performance",[93,806,807,810,811,400],{},[42,808,809],{},"Trusting the number without trusting the source."," TWR computed on data someone typed in by hand is arithmetic on fiction. The metric is only as good as the broker connection behind it — which is what the verification badges are for. See ",[36,812,814],{"href":813},"\u002Fguides\u002Fverified-vs-unverified-track-records","verified vs unverified track records",[18,816,818],{"id":817},"faq","❓ FAQ",[23,820,821,824],{},[42,822,823],{},"My broker says my account is up 120%. The page says +15.5%. Which one is wrong?","\nNeither. Your broker reports the change in balance, which includes every deposit. Gain reports what your trading did to the capital present at the time. They answer different questions, and only the second one is comparable to another trader.",[23,826,827,830],{},[42,828,829],{},"Does withdrawing profits hurt my Gain?","\nNo. Withdrawals are removed from the day they occur, exactly like deposits. Taking money out does not damage your track record here.",[23,832,833,836],{},[42,834,835],{},"Why did my Abs. Gain drop the day I deposited, without placing a single trade?","\nBecause Abs. Gain is net closed P&L divided by total deposits. You increased the denominator. Nothing was lost; the same profit is now measured against more capital. Gain stayed exactly where it was.",[23,838,839,842],{},[42,840,841],{},"Which number should I quote when I publish my account?","\nBoth, plus drawdown. Quoting Gain alone invites \"on how much money?\", and quoting Abs. Gain alone invites \"how many times did you top it up?\". The page shows all three at once, which is why sending a link beats sending a figure.",[23,844,845,848,849,853,854,858],{},[42,846,847],{},"Can TWR be gamed at all?","\nNot by funding. It can still look flattering on a very short history, on a handful of trades, or after a recovery from a near-blowup, where percentages get violent on a tiny equity base. Read it against ",[36,850,852],{"href":851},"\u002Fguides\u002Fmaximum-drawdown-explained","Drawdown",", Total Trades and ",[36,855,857],{"href":856},"\u002Fglossary\u002Fwhat-is-average-trade-length","Avg. Trade Length"," before drawing conclusions.",[23,860,861,864],{},[42,862,863],{},"Is Gain the return an investor in my account would have earned?","\nOnly if they were invested for the whole period with no cash flows of their own. An investor's personal return depends on when their money went in — that is a money-weighted question, and Abs. Gain is the closer cousin to it on the page.",[18,866,868],{"id":867},"related-guides","🔗 Related Guides",[90,870,871,877,883,889],{},[93,872,873,876],{},[36,874,875],{"href":398},"How to read a trading account dashboard"," — every other metric on the page, and which ones can be gamed",[93,878,879,882],{},[36,880,881],{"href":527},"How to verify trading performance claims"," — the checklist to run before you pay anyone for signals",[93,884,885,888],{},[36,886,887],{"href":803},"Tracking your trading performance"," — which numbers to actually monitor month to month",[93,890,891,895],{},[36,892,894],{"href":893},"\u002Fguides\u002Fhow-to-verify-your-account","How to verify your trading account"," — get the badges that make your Gain worth reading",[897,898],"hr",{},[23,900,901,904,905,909],{},[42,902,903],{},"See it on live data."," The ",[36,906,908],{"href":907},"\u002Fexplore","Explore"," feed lists live accounts with their Gain and drawdown; open any of them and you get Abs. Gain, the deposit and withdrawal totals, and the markers on the equity curve that explain the gap between the two returns.",[23,911,912,916],{},[36,913,915],{"href":914},"\u002Fsignup","Connect your account free"," — read-only, and your TWR is calculated from the broker's data, not from anything you tell us.",{"title":918,"searchDepth":919,"depth":919,"links":920},"",2,[921,922,926,927,928,929,930,931,932,933],{"id":20,"depth":919,"text":21},{"id":52,"depth":919,"text":53,"children":923},[924],{"id":123,"depth":925,"text":124},3,{"id":274,"depth":919,"text":275},{"id":403,"depth":919,"text":404},{"id":531,"depth":919,"text":532},{"id":583,"depth":919,"text":584},{"id":666,"depth":919,"text":667},{"id":772,"depth":919,"text":773},{"id":817,"depth":919,"text":818},{"id":867,"depth":919,"text":868},"2026-08-19T00:00:00.000Z","A $10,000 deposit doubles a balance without doubling any skill: how time-weighted return strips funding out, how it differs from Abs. Gain, and when to trust each.",false,"md",{"src":939},"\u002Fimages\u002Fblog\u002Ftime-weighted-return-explained-hero.svg",{},true,"\u002Fguides\u002Ftime-weighted-return-explained",{"title":5,"description":935},"3.guides\u002F13.time-weighted-return-explained","aEJE6Fi49Q1W1vYrolCzeCE5tulHYthmshYQLOMLudk",[947,951],{"title":948,"path":398,"stem":949,"description":950,"children":-1},"How to Read a Trading Account Dashboard - Every Metric Explained {YEAR}","3.guides\u002F12.reading-a-trading-account-dashboard","Gain, drawdown, profit factor, swap: what every number on a public account page measures, and what normal looks like across thousands of real accounts.",{"title":952,"path":851,"stem":953,"description":954,"children":-1},"Maximum Drawdown Explained: The Number That Tells You What It Felt Like {YEAR}","3.guides\u002F14.maximum-drawdown-explained","Two accounts both finished up 40%: only one was survivable. Here is what maximum drawdown measures, the recovery maths, and what thousands of real accounts show.",1787415682359]