Graph dips but results show 100% wins?


I’ve been looking through some system results, and something is confusing me. I see the equity charts dip more than the percentage of successful results suggest…so I looked some more and I found an example of a system that shows 100% wins, yet there are dips in the equity curve:

Can you please explain this to me?

Nicholas, the reason that there are dips in the equity chart for a trading system that has a 100% win rate is that C2 calculates each system’s account value intraday and at the end of each day.

So the daily fluctuations in market prices of the positions held can cause dips in the equity chart, but each position may continue to be profitable.


Ah, I see. Thank you. I (wrongly) assumed the charts shown were closed equity charts that reflected the account position when trades were closed. I can see how what C2 shows is more useful really, as some systems open up to bigger drawdowns during trades than others.

Just out of interest, is there a closed equity chart available anywhere for systems on C2? Mind you, I guess I can download the CSVs and graph them on XL.

Thanks again,


Yes, beware the 100% win rate systems!

Yes, I know what you’re getting at. They can be deceptive. In theory, if you hold out for a small gain in any trade, you’d eventually be able to have 100% even for poor systems.

I’ve been thinking, if Matthew is following this thread, why not an an overlay for closed equity, and that would give more perspective on a system?