Guides
Explanations written for traders who test their ideas: how the risk numbers work, how to judge a backtest, and how oil moves through the world's shipping lanes.
Risk management
Leverage and Margin in Forex: How They Actually WorkLeverage and margin in forex explained: margin as a deposit, notional value, ESMA leverage caps, margin level, margin calls, stop-outs and effective leverage.5 min readMaximum Drawdown: Definition, Recovery Math and LimitsMaximum drawdown explained: how to measure peak-to-trough losses, why recovery needs a larger gain, drawdown duration, and setting limits and prop-firm rules.5 min readPosition Sizing in Forex: A Practical GuideHow fixed-fractional position sizing in forex works: set a risk amount, measure the stop, convert pip value, round lots down and cap correlated exposure.5 min readRisk of Ruin: Why a Winning Edge Can Still FailRisk of ruin explained for traders: why positive expectancy can still blow up an account, fixed vs fixed-fractional sizing, and closed-form vs Monte Carlo.5 min readWhat Is a Pip? Pips, Pipettes and MT5 Points ExplainedWhat is a pip in forex: pip size, pipettes, MT5 points, yen pairs and how to calculate pip value in your account currency, with worked examples.5 min read
Performance metrics
Expectancy and Profit Factor: Measuring a Trading EdgeTrading expectancy and profit factor explained: expectancy in money and R, breakeven win rate, why high win rates mislead, and how many trades you need.5 min readHow to Read an MT5 Strategy Tester Report, Field by FieldHow to read the MT5 Strategy Tester report: net profit, profit factor, expected payoff, recovery factor, Sharpe ratio, drawdowns and History Quality explained.6 min read
Strategy research
Backtest Overfitting: Why Good Backtests Fail LiveBacktest overfitting explained: curve fitting, multiple testing, degrees of freedom, out-of-sample checks and cost assumptions, with the research behind them.5 min readWalk-Forward Analysis: Testing Strategies Out of SampleWalk-forward analysis explained: in-sample and out-of-sample windows, rolling vs anchored designs, walk-forward efficiency and the common pitfalls.5 min read
Markets
Forex Market Sessions: Hours, Overlaps and LiquidityForex market sessions explained: Sydney, Tokyo, London and New York hours in UTC, the overlaps, the weekly open and close, daylight saving and spreads.5 min readOil Prices and Commodity Currencies: CAD, NOK and BeyondHow oil prices relate to commodity currencies: Brent vs WTI, why CAD and NOK co-move with oil, terms of trade, and why the relationship sometimes breaks down.6 min read
Oil and shipping
How AIS Ship Tracking Works: Classes, Messages and GapsHow AIS ship tracking works: Class A and B transponders, position and voyage messages, tanker type codes 80-89, satellite reception, gaps and spoofing.6 min readSatellite Ship Detection with Sentinel-2: What It Can SeeHow satellite ship detection with Sentinel-2 works: 10 m bands, revisit times, cloud and size limits, Sentinel-1 radar, unidentified vessels and data licensing.6 min readShip-to-Ship Oil Transfers: Uses, Rules and DetectionShip-to-ship transfers explained: legitimate STS uses, MARPOL Annex I rules, the link to sanctions evasion and the dark fleet, and how STS activity is detected.6 min readStrait of Hormuz: Oil Flows, Bypass Routes and RisksThe Strait of Hormuz oil chokepoint explained: geography, EIA flow figures, who depends on it, bypass pipelines, Fujairah, and the 2026 disruption to traffic.6 min read