Free Tool
Trading Expectancy Calculator
Calculate your trading edge — expectancy per trade, profit factor, and projected P/L over many trades.
Configure
Result
Positive edgeExpectancy per trade
$25.00
Profit factor
1.50
Projected over 100 trades
$2500.00
Track this automatically in your trading journal — no more manual math.
Cumulative P/L projection
over 100 trades
Expected value projection — the actual path will vary, but this is where a strategy with this edge trends long-term.
How to use the trading expectancy calculator
Pull your win rate and average win/loss from your trading journal — either in dollar terms or as R-multiples (multiples of your initial risk). Enter them along with the number of trades you want to project forward, and the calculator returns your expectancy per trade, profit factor, and projected total P/L.
Switching to R-multiples is useful if you want to evaluate a strategy independent of position sizing — a strategy with an expectancy of +0.3R per trade is profitable whether you're risking $50 or $5,000 per trade.
Run this calculation regularly as your journal grows. A strategy's true expectancy only becomes statistically meaningful after 30-50+ trades, so don't draw strong conclusions from a handful of results.
Frequently asked questions
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TradersCompanion automatically tracks your risk, drawdown, and expectancy on every trade — so you don't have to calculate it by hand.