What a serious operator looks at first
The best review sequence usually starts with stability and explanation, not with total return.
- Do not optimize to erase normal drawdown.
- Do not compare strategies that operate under different capital realities.
- Do not keep a bot alive just because the dashboard is interesting.
Expectancy beats headline win rate
A modest win rate with strong payoff balance can be healthier than a flashy win rate that depends on one fragile trade pattern.
Drawdown shape matters operationally
Two strategies can lose the same amount and feel completely different to run depending on streak length, recovery time, and concentration.
Performance has to be read by regime
A system may still be healthy even after a weak phase if the market shifted outside its intended environment and the damage stayed within expected bounds.