RISK · R-MULTIPLE REVIEWS

R-Multiple Journal Reviews: A Worked Crypto Example With Fees Included

R-multiples express every result as a multiple of the risk planned before entry. Losses larger than −1R are the first thing a review should explain.

Short answer

An R-multiple is net result ÷ planned risk (R). With R = $200, ten trades of +2.1, −1, −1.15, +0.4, −1, +3.0, −0.3, −1.2, +1.5 and −1 sum to +1.35R (≈ +$270), averaging +0.135R. Two losses exceeded −1R (−1.15R and −1.2R): those are cost or execution leaks, such as stop slippage or fees not included in sizing. A review should tag every loss beyond −1R with its cause.

Worked example

StepValue
Planned risk (R)$200
Trades10
Sum+1.35R (≈ $270)
Average+0.135R
Losses beyond −1R2 (−1.15R, −1.2R)
Largest win+3.0R
R per tradeR per trade: T1 +2.10 R; T2 -1.00 R; T3 -1.15 R; T4 +0.40 R; T5 -1.00 R; T6 +3.00 R; T7 -0.30 R; T8 -1.20 R; T9 +1.50 R; T10 -1.00 R.R PER TRADET1+2.10 RT2-1.00 RT3-1.15 RT4+0.40 RT5-1.00 RT6+3.00 RT7-0.30 RT8-1.20 RT9+1.50 RT10-1.00 R
Highlighted: losses larger than planned. Original ChartsPod editorial graphic.

What to tag

PatternLikely cause
Loss < −1RSlippage, fees not in sizing, moved stop
Many −0.1R to +0.1RBreak-even stops too early
Wins far below target REarly exits
One win = most of totalOutlier dependence

Conclusion

Related: Trading Expectancy: A Worked Crypto Example With Fees Included, Profit-Factor Journal Reviews: A Worked Crypto Example With Fees Included.

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An R-multiple is net result ÷ planned risk (R).

Check R-Multiple Journal Reviews against a live market before relying on it.

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Questions readers ask

What is an R-multiple?

Net result divided by planned risk.

Why do losses exceed −1R?

Slippage, fees or stop changes.

How many trades for a review?

Enough to see patterns; 30+ is a start.

Sources and methodology

Arithmetic uses standard sizing formulas. Fee rates (0.05% taker, 0.02% maker), slippage and funding values are illustrative; check your venue's schedule. Liquidation figures are simplified approximations; exchanges calculate them with their own maintenance-margin rules (see Bybit's documentation).

  1. Bybit: Liquidation process — mark price and margin modes.
  2. ChartsPod: product overview, pricing and FAQ — free terminal, venues, modules, no order placement; checked 17 Oct 2026.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.