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Lesson 7 of 9The BreakThruFX Trading Course

Where the money actually is

Most traders lose on things that have nothing to do with entries. What actually drives the outcome, measured against a real 14-year record.

9 min read

Ask a struggling trader what they are working on and almost all of them say entries. Ask a profitable one and almost none of them do. That gap is the subject of this lesson, and it can be measured rather than asserted.

The uncomfortable arithmetic

This account's published record runs 2012-08-22 to 2026-08-24: 979 closed legs, 150,481.9 pips net, at a profit factor of 1.97 and a win rate of 55.6%.

Read that win rate again. Roughly 44 trades in every hundred lose - and the record is strongly profitable anyway. Entry accuracy is plainly not what is producing that result.

Win rate
55.6%
break-evens excluded
Profit factor
1.97
gross win / gross loss
Closed legs
979
Worst drawdown
10,115p
122 days falling
Why win rate does not decide the outcome100 trades55 win - 45 losebut the sizes differtotal wontotal lostwinners are bigger than losersa strategy can lose most of its trades and still make moneyschematic - see the trade log for the real distribution
A strategy can lose most of its trades and still make money, provided the winners are bigger than the losers. This is why chasing a higher win rate is usually the wrong project.

What actually decides the outcome

  1. 1.Position size. The same strategy at the wrong size is a losing strategy, because you will not survive the drawdown to collect the edge. This is the largest single factor and it has nothing to do with charts.
  2. 2.Losing well. Profit factor is a ratio. You can improve it by winning more or by losing less, and losing less is far more controllable.
  3. 3.Consistency. An edge is a statistical property of many trades. Skipping the setups that feel bad removes exactly the ones that pay - a filter applied by mood is not a filter.
  4. 4.Costs. Spread and commission are small per trade and enormous across thousands. On gold, the wrong account type can consume the whole edge.

Surviving is the strategy

The worst drawdown in this record is 10,115 pips, from 2024-04-12 to 2024-08-12, recovered by 2025-04-06. 122 days of the account going down.

Every pip of profit in that record is only collectable by someone who was still trading at the end of it. Most people are not - not because the maths beat them but because the duration did. The full picture is on the worst of it, published as prominently as the profit.

The reframe

Stop asking 'how do I win more often'. Start asking 'how do I make sure a losing run cannot remove me'. The first question has a ceiling and a lot of competition. The second is almost entirely within your control and is where the money actually is.

The BreakThruFX Trading Course - written and published by BreakThruFX at breakthrufx.com/course. Free to read and free to share with a link back - the button below builds one for you. Republishing it as your own, in whole or in part, is not permitted. The figures throughout come from our own published trade record.
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The course teaches the concepts. These pages show what they look like in a real record.

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