P&L in trading stands for Profit and Loss. It is a measure of the profitability of a trading strategy or system over a specified time period. The profit/loss ratio is a commonly used metric to measure P&L. It is calculated by dividing the total gains from winning trades by the total losses from losing trades over a specified time period. The P&L statement is also a financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a quarter or fiscal year. It provides information about a companys ability to generate profit by increasing revenue, reducing costs, or both.

In trading, the Open P&L is the profit or loss of a position at the current market price. It changes as the market price changes, and it provides a quick overview of the value of the current open trade positions in a portfolio. However, it can be misleading because it constantly changes as long as the trade is open, and the only true time to see the current value of trades is either when selling and realizing a profit or loss or after the trading day is over.

P&L can be seen on the trading screen and in the Account window, and it includes the position, position value, average price, and original P&L display that shows the profit and loss for the current day. The Account window also displays other P&L columns, such as the average cost, unrealized P&L, and value.