What is exit efficiency?

How much of the available move you actually took, expressed by sorting each exit into a quality band from full to scratch — or, on losers, controlled against overrun.

It works in R rather than dollars, so a good exit on a small trade and a good exit on a large one score the same.

Winners are sorted by the R you achieved: full at 2R or better, good from 1R, partial from 0.3R, and scratch below that. Losers get two bands: controlled, where the loss was within 1R, and overrun, where it was worse than the risk you set.

Read the shape rather than any single trade. A pile of trades in partial and scratch is the signature of cutting winners early; anything in overrun is where your risk plan did not survive contact.

A trade with no usable risk figure cannot be classified and is counted as unknown rather than guessed at — which is another reason to put a stop on the trade even when you are trading without one in the market.