> ## Documentation Index
> Fetch the complete documentation index at: https://help.turtlemetrics.com/llms.txt
> Use this file to discover all available pages before exploring further.

# How TurtleMetrics Calculates P&L

> How gross and net P&L is calculated from your trade executions, including point values and commissions.

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

## 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.

### Examples

<AccordionGroup>
  <Accordion title="ES (E-mini S&P 500)">
    Point value: **\$50** per point, tick size: 0.25

    You go long 1 ES at 5000.00 and exit at 5010.00.
    That's 10 points × $50 = **$500 profit\*\*.
  </Accordion>

  <Accordion title="MES (Micro E-mini S&P 500)">
    Point value: **\$5** per point, tick size: 0.25

    Same trade on MES — long 1 at 5000.00, exit at 5010.00.
    That's 10 points × $5 = **$50 profit\*\*.
  </Accordion>

  <Accordion title="NQ (E-mini Nasdaq-100)">
    Point value: **\$20** per point, tick size: 0.25

    You short 2 NQ at 18000.00 and cover at 17980.00.
    That's 20 points × $20 × 2 contracts = **$800 profit\*\*.
  </Accordion>

  <Accordion title="MNQ (Micro E-mini Nasdaq-100)">
    Point value: **\$2** per point, tick size: 0.25

    Short 1 MNQ at 18000.00, cover at 18015.00.
    That's -15 points × $2 = **-$30 loss\*\*.
  </Accordion>
</AccordionGroup>

## 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](/troubleshooting/commissions-setup) for details.

## 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?](/troubleshooting/trade-count-differences).

## 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.

## 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](/troubleshooting/commissions-setup) if net P\&L is off
4. Remember that trade *counts* may differ due to [flat-to-flat grouping](/troubleshooting/trade-count-differences), but total P\&L should match

## Related

<CardGroup cols={2}>
  <Card icon="calculator" href="/concepts/trading-metrics-explained" title="Trading Metrics Explained">
    What win rate, profit factor, and other metrics mean.
  </Card>

  <Card icon="list" href="/concepts/supported-contracts" title="Supported Contracts">
    Point values and tick sizes for every supported contract.
  </Card>
</CardGroup>