**Monthly Trading Summary**

The Annual, Monthly, Weekly, and Daily tabs expand on the
analysis provided in the Performance Summary section shown in the Summary tab.
The Performance Summary evaluates the strategy's performance over the entire
test period. The next step is to examine the strategy over various time periods
to ensure consistent performance. The available time periods are annual,
monthly, weekly, and daily.

A Mark-to-market is performed at the end of each month,
resulting in a complete and thorough performance evaluation. This attention to
detail will cause certain evaluation tools to reflect number that differ from
the Performance Summary. The Rolling Period analysis of the
same time periods show the progression between the periods.

The fields that will differ are listed below:

**Total Net Profit**

This field calculates the total number of dollars made or
lost by the trading strategy during the test period.

Notes
If you are trading an investment instrument on leverage, Return
on Account is a more important field.

When viewing the TradeStation Strategy Performance Report, this field calculates and displays a value for all trades (long and short), long trades (buying long and exiting), and short trades (selling short and exiting).

**% Gain**

The percentage by which your initial capital investment
gained in value for the period tested.

**Profit Factor**

The gross profit divided the gross loss, which represents
how much money was made for every dollar lost.

**# Trades**

The number of trades signaled in the designated period.

**Percent profitable**

This field calculates the percentage of profitable trades
generated by a strategy. Percent profitable is calculated by dividing the
number of winning trades by total trades generated by a strategy.

Percent profitable can be misleading by itself because there
are different approaches to profitability. A strategy could have many small
winning trades, in which case the percent profitable would be high with a small
average winning trade, or a few big winning trades, which would produce a low
percent profitable and a big average winning trades.

Many successful strategies have a percent profitability
below 50% but are still profitable because their losses are limited.

{ ** © 1987, 1999 Omega Research,
Inc. ** }