How we measure.

“Your export does not contain the fees you actually paid. The figure above is a gross return: it ignores what your transactions cost you. We do not estimate it — an estimated fee figure would be exactly the kind of number we refuse to produce.”

“The fees are expressed in the currency where they were charged. Your export does not let us tell whether they are already deducted from the amounts or added on top: we kept the most cautious assumption, the one that understates your performance. The euro total, however, is calculated: the scope decides whether fees are added to the amounts or already inside them, it does not change their sum. The report states on how many operations that assumption had to be made.”

“You borrowed N times over the period. Your export names no interest: the €X.XX above is deduced from the gap between what was borrowed and what was repaid, not declared by you.”

“A position was liquidated on DD/MM/YYYY at HH:MM UTC. Your export does not tell the sales that liquidation forced from the ones you decided: the operations of that period are counted as decisions, and the concentration and win-rate measures may be distorted by it.”

“The cost of N conversions out of M could not be measured, for lack of a reference price at their minute. The cost of conversions above therefore covers only the others, and is understated by that much.”

“The comparison covers the period from DD/MM/YYYY to DD/MM/YYYY, the only period where your data and our reference prices overlap. Outside that window, we do not compare.”

“The basket is valued excluding N asset(s): LIST. These assets stopped being quoted before the measurement date, or have no price on that day. Their value is not estimated, and the comparison covers the rest of the basket.”

“N positions out of M could be matched. The remaining M−N correspond to assets acquired before the period covered by your export: they are excluded from this calculation, and that exclusion can make it look better than it is.”