Futures Prop Firm OffersFutures Partial Exit Calculator: Weighted P&L and Risk
Calculate weighted futures P&L after scaling out, including tick value, remaining risk, fees, slippage, and a reusable partial-exit worksheet.
Futures Partial Exit Calculator: Weighted P&L and Risk
Direct answer: To calculate profit or loss after partial futures exits, multiply each exit’s price change in ticks by the contract’s tick value and the number of contracts closed, then add every exit result. Subtract commissions, exchange fees, and slippage for net P&L. The same worksheet should also show the risk still attached to contracts that remain open.
Core partial-exit formula
For each exit:
Exit P&L = ticks gained or lost × tick value × contracts closed
Then:
Gross trade P&L = sum of every exit P&L
Net trade P&L = gross P&L − fees − slippage cost
Use the exchange-published tick size and tick value for the exact contract. Do not copy the value from a different contract or its micro-sized version.
Worked scale-out example
This example is hypothetical. Assume four contracts, a $5 tick value, and three exits.
| Exit | Contracts closed | Result per contract | Tick value | Exit P&L |
|---|---|---|---|---|
| First target | 2 | +10 ticks | $5 | +$100 |
| Second target | 1 | +20 ticks | $5 | +$100 |
| Final stop | 1 | -5 ticks | $5 | -$25 |
| Total | 4 | — | — | +$175 |
The weighted average result is 8.75 ticks per original contract: 35 tick-contracts divided by four contracts.
Gross versus net result
Assume $4 of round-turn fees per contract and no separately measured slippage.
| Calculation | Amount |
|---|---|
| Gross P&L | $175 |
| Four contracts × $4 fees | -$16 |
| Net P&L | $159 |
| Net average per original contract | $39.75 |
If the four contracts experience a combined $10 of slippage, the net result falls to $149. Small costs matter most when targets are short.
Remaining risk after each exit
Scaling out realizes some P&L, but it does not automatically make the trade risk-free. Remaining risk depends on the open quantity and current stop location.
Assume the stop on open contracts would lose eight ticks from the current market reference.
| Stage | Open contracts | Risk per open contract | Remaining stop risk |
|---|---|---|---|
| Before any exit | 4 | 8 × $5 = $40 | $160 |
| After closing 2 | 2 | $40 | $80 |
| After closing 3 | 1 | $40 | $40 |
| Fully closed | 0 | $0 | $0 |
A moved stop changes the calculation. Recompute from the actual stop price rather than assuming that an earlier risk figure still applies.
Locked profit is not the same as realized profit
| Term | Meaning |
|---|---|
| Realized P&L | Result from contracts already closed |
| Open P&L | Mark-to-market result on remaining contracts |
| Remaining risk | Potential loss from current price to the active stop |
| Locked trade result | Realized P&L minus the remaining open risk, before costs |
| Net P&L | Final realized result after all trading costs |
Suppose the first two contracts realize $100 and the two remaining contracts carry $80 of stop risk. The trade has $20 of gross result protected before costs, not $100.
Reusable partial-exit worksheet
| Input | Your value |
|---|---|
| Contract symbol and month | |
| Tick size | |
| Tick value | |
| Original quantity | |
| Entry price | |
| Exit 1 price and quantity | |
| Exit 2 price and quantity | |
| Final exit price and quantity | |
| Total fees | |
| Measured slippage |
For every exit, convert the price difference to ticks with:
Ticks = price difference ÷ tick size
Use positive ticks for a profitable exit and negative ticks for a losing exit. Short trades reverse the direction of the price comparison.
Position-sizing check before entry
A scale-out plan works only if the original position respects the account’s loss limits.
| Planning check | Formula |
|---|---|
| Initial stop risk | Stop distance in ticks × tick value × quantity |
| All-in planned risk | Initial stop risk + estimated fees + slippage allowance |
| Risk after first target | New stop distance × tick value × remaining quantity |
| Maximum rule room used | All-in planned risk ÷ current rule room |
| Weighted target | Sum of target ticks × contracts ÷ original quantity |
A trader with $1,000 of usable rule room and $160 of planned stop risk is committing 16% of that room before fees. That percentage is more useful for prop-account planning than the nominal account label.
Common calculation mistakes
Averaging target prices without quantities
A two-contract exit should carry twice the weight of a one-contract exit. Use tick-contracts, not a simple average of exit prices.
Ignoring the losing final unit
The last contract can reduce the combined result. Include it even when the earlier targets were profitable.
Counting open profit as realized
An open gain can change before the exit fills. Keep realized and open columns separate.
Omitting costs
Commissions, exchange fees, platform charges, and slippage can turn a small gross win into a smaller net win or a loss.
Step-by-step review after the trade
- Match fills to the correct futures contract and month.
- Convert every entry-to-exit move into ticks.
- Multiply by the correct tick value and closed quantity.
- Sum the exit rows for gross P&L.
- Subtract all fees and measured slippage.
- Compare planned risk, maximum open risk, and final net result.
- Record whether the scale-out improved rule compliance or merely reduced the visible position.
The calculation method follows the standard futures P&L relationship described by CME Group: price movement, contract value, and number of contracts jointly determine the result.