The Final Tape
R-Multiple Review Template
Define 1R, calculate expectancy by hand, and run a focused 30-minute weekly review
1R definition worksheet
| Starting balance | |
| Risk method | Static / Compounding |
| Default risk % | |
| Planned risk $ (1R) | |
| Portfolio / phase |
Expectancy calculator
realized_r = net_pnl ÷ planned_risk_$ — filter compliance ≥80% before expectancy.
| trade_id | planned_risk_$ | net_pnl | realized_r | compliance_% |
|---|---|---|---|---|
Win % _____ | Avg winner R _____ | Avg loser R _____ | Expectancy _____
30-minute review checklist
- 0–5 min: Last 20 trades from one portfolio; no live/backtest blend
- 5–10 min: Filter compliance ≥80%; note % of book that qualifies
- 10–20 min: Calculate expectancy, avg winner R, avg loser R on filtered rows
- 20–25 min: Compare to prior week in R — not dollar P&L
- 25–30 min: Rank top negative loser tag; write one Kill List fix
Common mistakes audit
- Actual loss as 1R — scratches inflate when stop not hit
- Mid-month risk change without risk_%_version label
- Mixed setups in one expectancy pivot
- No compliance filter — lottery tickets in edge math
- Winners-only review — survivorship on the distribution
- Outlier confusion — one +5R trade masks +0.5R expectancy
14-day R discipline tracker
| Days | Action | Done |
|---|---|---|
| 1–2 | Lock portfolio; static 1%; log planned risk $ every trade | |
| 3–7 | Log 10 trades with checklist + tags; ignore dollar weekly P&L | |
| 8 | First R review on compliance-filtered rows | |
| 9–12 | Log 10 more; focus one exit tag (e.g. fear exit) | |
| 14 | Second R review; avg winner vs loser; draft Kill List item |
Full guide: R-Multiple Trading: Why P&L Lies
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