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most online trading platforms automatically calculate the P&L of a trader's open positions. However, it is useful to understand how this calculation is formulated  PnL Explained also called P&L Explain, P&L Attribution or Profit and Loss Explained is an income statement with commentary which Product control produces and which traders, especially derivatives (swaps and options) use, a portfolio of trades typically calculated using the following formula: PnL = Value today - Value