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RISK · MFE AND MAE

Trading-Journal MFE and MAE: A Worked Crypto Example With Fees Included

Maximum favourable and adverse excursion show how far a trade went for and against you. They reveal whether stops are too tight or exits too early.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

MFE is the best unrealised profit during a trade; MAE is the worst unrealised loss. Example: long 1 BTC at $60,000 with a $59,400 stop; price dips to $59,620 (MAE −$380) and rises to $61,450 (MFE +$1,450) before exit at $60,600 (+$600 gross, ≈ $539 net after ≈ $60.60 fees). The trade captured about 41% of its MFE. Across many trades, MAE shows how close stops come; MFE capture shows how much exits leave behind.

Worked example

StepValue
Entry / stop$60,000 / $59,400
MAE−$380 (low 59,620)
MFE+$1,450 (high 61,450)
Exit$60,600: +$600 gross
Fees≈ $60.60
Net≈ $539
MFE captured≈ 41%
Excursions in one trade ($)Excursions in one trade ($): MAE -380 $; Exit (gross) +600 $; MFE +1,450 $.EXCURSIONS IN ONE TRADE ($)MAE$-380Exit (gross)$+600MFE$+1,450
Exit left most of the favourable move. Original ChartsPod editorial graphic.

Using it across trades

PatternReading
Winners' MAE near the stopStop barely survives; maybe tight
Losers rarely show MFEEntries late
Low MFE captureExits early
MAE beyond stopSlippage

Conclusion

Related: Trading-Journal Time-in-Trade: A Worked Crypto Example With Fees Included, R-Multiple Journal Reviews: A Worked Crypto Example With Fees Included.

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MFE is the best unrealised profit during a trade; MAE is the worst unrealised loss.

Compare Trading-Journal MFE and MAE across Binance, Bybit, OKX and Hyperliquid markets.

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Questions readers ask

What are MFE and MAE?

Best and worst unrealised result during a trade.

What does low MFE capture mean?

Exits leave much of the move.

Should MAE exceed the stop?

Only via slippage.

Sources and methodology

Arithmetic uses standard sizing formulas. Fee rates (0.05% taker, 0.02% maker), slippage and funding values are illustrative; check your venue's schedule. Liquidation figures are simplified approximations; exchanges calculate them with their own maintenance-margin rules (see Bybit's documentation).

  1. Bybit: Liquidation process — mark price and margin modes.
  2. ChartsPod: product overview, pricing and FAQ — free terminal, venues, modules, no order placement; checked 17 Oct 2026.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.