Questioning MyFxBook's performance calculation method

Hello,

First of all, let me state that I am highly grateful that MyFxBook gives us such a platform that allows us to pretty much audit our trading record for free. This is truly great.

That said, I am finding some serious shortcomings and/or biases that render performance calculation questionable.

The main issue that I have is the way they are calculating Gains and Drawdowns (ongoing + maximum).

Everything is calculated on a CLOSED TRADE basis instead of EQUITY. This inevitably implies that flawed grid and martingale systems that take quick profits and let huge losses run are highly favored. For this kind of flawed strategies, actual drawdown is simply covered up until after the account blows up and the actual drawdown (equity-based) is realized. Take it to an extreme level, a strategy that has only closed winning trades but which equity is running 1 pip away from margin call will show a drawdown of ZERO until the next pip where it shows 100% or close to it.

Likewise, returns ('Gain') are also overlooking equity to focus on closed trades. So a perfectly sound system cutting many losses short and letting a few winners run might show a large drawdown whereas in fact it never ever happened looking at equity.

Everyone has to realize that EQUITY alone is what matters when calculating performance (Return & Risk). This is the true value of the account and what brokers use to issue margin calls. I cannot imagine that MyFxBook's team is not aware of this bias. In fact, I am sure they aren't since I noticed this from them. https://blog.myfxbook.com/2012/02/20/equity-based-drawdown-new-metrics/. And yet I cannot see the changes.

EQUITY-based everything is the only sound way to go. I inquired with the team but got no reply so far. If I missed something please let me know. If not, I am inviting every serious traders and investors here to support this thread and am kindly inviting MyFxBook's team to proceed with these changes to the metrics AND charts, which shouldn't be hard to do. All the information is there already. It should only take a few lines of code to make the whole website change for the best and relevance to reach a new level.

Thanks a lot