Losing trades are held 3.8× longer than winning ones (228h vs 61h). A classic sign of reluctance to cut losses — the main source of deep drawdowns.
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Risk increases after losses
After two or more consecutive losses the average position size grows by 92% (3.35 lots vs the usual 1.74). Scaling up after losses is a martingale pattern that multiplies drawdowns.
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The real drawdown is deeper than it looks
Max equity drawdown reached 29.2%, while the balance curve shows only 20.1%. The gap is the floating loss of open positions that the balance curve hides.