Steve Burns: Successful traders focus on MFE and MAE metrics over win rate

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Mikhail Vnuchkov

25.04.2026

Steve Burns: Successful traders focus on MFE and MAE metrics over win rate — Traders urged to track MFE and MAE

Steve Burns, Founder at New Trader University, which operates under his self-employed business activities at New Trader University, discusses the importance of performance metrics in trading. Burns argues that while many traders pay attention to win rate, the most successful traders concentrate on maximum favorable excursion (MFE) and maximum adverse excursion (MAE). According to Burns, MFE measures the maximum profit a trade shows, while MAE tracks the largest drawdown during the holding period. He illustrates the concept by highlighting cases where profitable trades can still turn into losses, underscoring the need to manage both upside potential and downside risk.

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Burns has previously compared trading approaches using Archilochus' fox and hedgehog metaphor in an article on investment mindsets. He has also discussed Linda Raschke's principle of buying after new highs and selling after new lows in a guide to market pullbacks. His commentary regularly focuses on concrete metrics and strategic decision points in trading.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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