The Futures P&L Formula
P&L = (Exit Price − Entry Price) × Contract Multiplier × Number of Contracts
For short positions, flip the subtraction: (Entry Price − Exit Price).
Worked Example: MNQ Trade
- Contract: MNQ (Micro E-mini Nasdaq 100)
- Multiplier: $2 per point
- Entry: 18,500
- Exit: 18,550
- Contracts: 2
P&L = (18,550 − 18,500) × $2 × 2 = 50 × $2 × 2 = $200 profit
Tick-Based Calculation
Alternatively: Count the ticks moved. MNQ tick = 0.25 points, tick value = $0.50.
50 points ÷ 0.25 = 200 ticks. 200 ticks × $0.50 × 2 contracts = $200.
Commission Impact
Don't forget commissions! At $0.35-$1.00 per side per contract, a round trip (entry + exit) on 2 MNQ contracts costs $1.40-$4.00. On a $200 trade, that's minor — on a 5-tick scalp, it's significant.
Calculate your exact trade outcomes with the Futures Calculator.