FX TERMINAL · ACADEMY
Expectancy — forex lessons and courses
Every free FX Terminal Academy lesson and course on expectancy: 6 lessons and 2 courses, each with a quiz and a link to the live tool that applies it.
Courses covering expectancy
- Stops, Targets and Trade ManagementEntering is the easy part. Almost everything that decides the outcome happens afterwards — where the stop sits, what the target is, whether you move it, whether you take half off — and usually under pressure. This course covers how to manage a position from entry to exit: structural stop placement, targets expressed in R-multiples, break-even and trailing rules tested rather than argued about, and the risk-of-ruin arithmetic behind 1% per trade.
- Evaluating and Improving a StrategyMost strategies are trusted or abandoned for the wrong reason: a good month, a bad week, a backtest curve that happened to end on a high. This course is about how to know if a trading strategy is actually profitable — the metrics that describe an edge, and the tests that decide whether those metrics mean anything. Expectancy and profit factor, walk-forward analysis, Monte Carlo resampling, and the forward test that comes before real money.
Lessons on expectancy
- Strategy Performance Metrics: Profit Factor, Expectancy and DrawdownA finished backtest hands you a wall of numbers, and almost every one of them can be arranged to flatter the strategy that produced it. This lesson takes the core set apart — win…
- How Many Trades Does It Take to Pass a Challenge?How many trades does it take to pass a prop firm challenge? The honest answer is a formula rather than a number, and it has three inputs: the profit target, your expectancy per…
- The Arithmetic of DrawdownLosses and gains are not symmetric, and the asymmetry gets worse the deeper you go. This lesson shows you the numbers, because they are the strongest argument for small risk per…
- Take-Profit Targets and Thinking in R-MultiplesA target is where you decided, in advance, to be paid. Most traders pick one by feel — a round number, or a figure large enough to make the trade look worth taking — and then…
- Risk of Ruin, the Kelly Criterion and Why 1% WorksSooner or later every trader asks what is risk of ruin in trading and how to calculate it, usually after a bad month. It has a specific answer: the probability that a strategy…
- How to Keep a Trading Journal That Changes BehaviourAsk what should a trading journal include and the honest answer is: fewer things than you expect, recorded every single time, and read back on a schedule. Most journals fail not…
About these expectancy lessons
This page collects everything in the FX Terminal Academy that deals with expectancy: 6 lessons and 2 courses. The list is generated from the lessons themselves rather than maintained by hand, so it stays complete as the Academy grows.
Every lesson is free to read in full. Each one ends with a short quiz and links into the FX Terminal screen that applies it, so an idea can be checked against live market data instead of staying on the page. No account is needed to read; signing in only saves your progress and issues the completion certificate.
Where to start
If expectancy is new to you, start with the course listed above rather than a single lesson — a course orders its lessons so each one builds on the last. Use the lesson list when you already know which idea you want and would rather go straight to it.
Nothing here is investment advice. The Academy explains how the market works and how to read the data behind it; it does not issue signals or tell you what to trade.
Common questions
Are these expectancy lessons free?
- Yes, all of them, in full. There is no paywall, no trial and no card required, and the live terminal screens the lessons link to are free as well.
Do I need an account to read them?
- No. An account is free and optional — it exists only to remember which lessons you have finished, carry that across devices, and issue a certificate when you complete a course.
Is a course better than reading the lessons individually?
- For a subject you are new to, yes: a course orders its lessons so each one builds on the last. Read a single lesson when you already know which idea you want.
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