R-multiple

An R-multiple expresses a trade's result as a multiple of the amount you risked on it. Your initial risk — entry to stop-loss — is defined as 1R. A trade that makes twice your risk is +2R; one that hits the stop is −1R.

How to calculate it

R-multiple = Trade profit or loss ÷ Initial risk. If you risked $150 and made $300, that's 300 ÷ 150 = +2R. If you risked $150 and lost $75 (you exited early), that's −0.5R.

Why traders think in R

R normalizes every trade to the same scale, so a win on a small position and a win on a large one are directly comparable. It also lets you express your whole edge in one clean number: expectancy in R. +0.4R expectancy means you net 0.4× your risk per trade on average — a strong, durable edge that compounds regardless of account size.

Shibiki tags every trade with its R-multiple automatically from your entry, stop, and exit, so your reports read in R without any manual tagging.

Related: trading expectancy · expectancy calculator · position size