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TurtleMetrics calculates your profit and loss directly from the execution data synced from NinjaTrader. Here’s exactly how it works.

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Gross P&L

The basic formula for any futures trade is: P&L = Price Movement × Point Value × Number of Contracts Every futures contract has a specific point value — how much one full point of price movement is worth per contract. TurtleMetrics knows the point value for every supported contract and uses it automatically.

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Examples

Point value: $50 per point, tick size: 0.25You go long 1 ES at 5000.00 and exit at 5010.00. That’s 10 points × 50=∗∗50 = **500 profit**.
Point value: $5 per point, tick size: 0.25Same trade on MES — long 1 at 5000.00, exit at 5010.00. That’s 10 points × 5=∗∗5 = **50 profit**.
Point value: $20 per point, tick size: 0.25You short 2 NQ at 18000.00 and cover at 17980.00. That’s 20 points × 20×2contracts=∗∗20 × 2 contracts = **800 profit**.
Point value: $2 per point, tick size: 0.25Short 1 MNQ at 18000.00, cover at 18015.00. That’s -15 points × 2=∗∗−2 = **-30 loss**.

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Net P&L

Net P&L subtracts commissions from your gross P&L: Net P&L = Gross P&L − Commissions TurtleMetrics reads commission data from NinjaTrader’s commission templates. For this to be accurate, you need to have commission templates properly configured in NinjaTrader and applied to your accounts. See the commissions setup guide for details.

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Flat-to-flat trade grouping

TurtleMetrics groups executions into trades using flat-to-flat logic. A “trade” starts when you go from zero contracts to a position, and ends when you return to zero contracts. All executions within that window — scaling in, partial exits, etc. — are grouped into a single trade with one combined P&L. This means if you buy 1 contract at 5000, buy another at 5005, and sell all 2 at 5020, TurtleMetrics shows this as one trade, not two. The P&L accounts for the blended entry price across all fills. For more on how this affects trade counting, see Why Does My Trade Count Differ from NinjaTrader?.

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Precision

All P&L calculations use decimal precision — not floating-point approximations. This prevents rounding errors from accumulating across hundreds or thousands of trades, which is especially important for micro contracts where individual tick values are small.

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Verifying your numbers

Your total gross P&L in TurtleMetrics should match NinjaTrader’s Trade Performance report (before commissions). If the numbers don’t line up:
  1. Make sure you’re comparing the same date range and account
  2. Check that all trades have finished syncing
  3. Review your commission setup if net P&L is off
  4. Remember that trade counts may differ due to flat-to-flat grouping, but total P&L should match

Trading Metrics Explained

What win rate, profit factor, and other metrics mean.

Supported Contracts

Point values and tick sizes for every supported contract.