Question for the pros

So i met this guy at work who was talking about stocks and stuff.
I have bought some Canadian stocks before and am still down..but i still consider myself a newbie...

Anyway, this guy was telling me how he's gone to lessons and seminars on trading and can yield about 40% annually.  He also gave me some per trade stats...

Per Trade Statistics

• Success Percentage (% winners): 57.88%
• Average Winning Trade, %:  23.32%
• Average Losing Trade, %:  -9.66%
• Overall Average Trade, %:   9.16%
• Profit Factor:     3.72

Can anyone explain to me what profit factor is?
And how do these numbers compare to the average trader??

He said if i was interested in learning, he would show me how to trade but i'm still kinda iffy about it.

I am no pro but I tried to break it down like this-

If you are winning 57% of the trades then you are losing 43% of the trades.

Average win at 23.32% (I dont get that number, seems huge) multiply by .57 equals .13
Average loss is 9.66% multiply by .43 (rounding) equals .042

So every time you lose a trade you lose .004% of your bankroll, everytime you win it is a .013 percent of bankroll (averaging the trade up to 10% per trade) and depending on the quantity of trades then your profit factor would equal that ammt.

Now if you traded less then the number would be different than if more, depending on when you catch the winners and losers then the profit factor would vary.

I imagine that profit factor was based off a time frame in which the guy was trading and if you asked him in a week that would be different. There also might be other expenses involved...

I think we need more info before giving the answer to going forward with it..Whats the system he uses, is it a paid system where he bought the platform etc?

Thanks for the response wallstreet.
So the higher the profit factor, the better...so 3.72..is that considered high or average??

Also it should be noted that the returns are compounded to date.

I am not sure if he bought the system.....but in a way i'm hoping he actually created it himself and backtested it because i've had friends who paid for that crap with bad experiences.

what else should i ask him? or what do you want to know, wallstreet?

In a way i would like to learn what he does...i mean, 57% is still pretty solid. but my knowledge is so limited that i don't even know what to ask. heh.