When trading, what are the important statistics to follow and what do they mean

When trading, it is important to follow various statistics to assess your performance and make informed decisions. Here are some key statistics to consider:

1. Profit and Loss: This statistic measures the total profit and loss generated by your trades. It helps you understand the overall performance of your trading strategy.

2. Winning Percentage: This metric indicates the percentage of trades that resulted in profits. A higher winning percentage suggests that your trading strategy is effective.

3. Risk-Reward Ratio: This statistic compares the potential profit to the risk taken to achieve it. A higher risk-reward ratio is generally preferred, as it suggests a greater potential for profits relative to the risk involved.

4. Trading Volume: Trading volume indicates the number of shares or contracts traded in a particular period. Higher trading volume can suggest increased market interest and potential price momentum.

5. Daily Average Range (DAR): DAR measures the average range of price movement over a specific period. It helps traders identify volatility and potential trading opportunities.

6. Support and Resistance Levels: These levels indicate where the price of a security may find support or resistance. They can be used to identify potential entry and exit points.

7. Relative Strength Index (RSI): RSI measures the speed and change of price movements. It helps identify overbought or oversold conditions, which can signal potential reversals.

8. Moving Average Convergence Divergence (MACD): MACD is a technical indicator that shows the relationship between two moving averages. It can signal trend direction and momentum.

9. Bollinger Bands: Bollinger Bands consist of a moving average and two standard deviation lines. They help traders identify volatility and potential price breakouts.

10. Elliott Wave: Elliott Wave theory analyzes market sentiment and price movements to identify patterns that can predict future price trends.

These statistics and indicators can provide valuable insights into your trading performance and help you make informed decisions. However, it's important