Separating the bill from the decision

P&L decomposition

Splitting each trade's net result into what the decision earned - entry to exit, at market prices - and what holding it cost in roll and financing. The two move for different reasons and teach different lessons, and a journal that cannot separate the bill from the decision reviews a different trader. That sentence is this module's central claim, twin to module 6's, and this lesson exists to make it unmissable.