Net vs Gross P&L: Which Basis Limbix Uses

Net vs gross P&L is the difference fees make. Gross P&L is what the price move earned. Net P&L is gross minus your fees and commissions. Limbix shows net P&L everywhere by default, and every score is built on it. Gross is a toggle in Reports, for when you want to see the price action alone.

Net vs gross P&L: why net is the default#

Fees are money that leaves your account. A strategy that wins before commissions and loses after them is a losing strategy, and your journal should say so.

So net is the default on every surface: the Dashboard, Analytics boards, Discipline & Risk, NEX and the metric cards. R is net P&L divided by risk. The Risk Score, cost of violations and mistake costs are all net.

Gross exists for one question: how good was the trading before costs? In Reports, the Net / Gross switch in the header changes every figure and every label together. A column reads Gross P&L when you are looking at gross numbers, never "Net P&L" over gross ones. Every other surface stays on net.

Example#

You scalp one contract for 2 ticks worth €8, and your round-trip commission is €10.

Ten trades like that are a 100% win rate on gross and a 0% win rate on net. The net figure is the one your account balance agrees with.

Where it affects your numbers#

• Net P&L, win rate, profit factor, trade expectancy and max drawdown follow the basis you pick in Reports, and use net everywhere else.
• A trade is a winner when its P&L on the chosen basis is above zero. Exactly zero is a scratch: it counts in the total, not as a win.
• R-multiples always use net P&L. That is why a stop that filled perfectly still shows a little past −1R.
• Exposure Discipline walks each day's running net P&L to see when your max daily loss was reached.

Frequently asked questions#

What is the difference between net and gross P&L?#

Gross P&L is the profit or loss from the price move alone. Net P&L subtracts fees and commissions. In Limbix, net P&L = gross P&L − fees, and fees are always treated as a cost, whichever sign your broker exports them with. Net is what actually changed your balance.

Why is my net P&L the same as my gross P&L?#

Your trades have no fees recorded. When you import a file, fees come from a commission or fee column. If your file has none, or it wasn't mapped to Fees / commission on the Map step, fees are zero. For a manual trade, fill Fees. You can edit fees on a trade later. See the add-trades guide.

Where can I switch to gross P&L?#

Only in Reports. The Net / Gross switch sits in the Reports header and applies to every Reports tab. The Dashboard, Analytics boards, Discipline & Risk and NEX always use net. See net or gross in Reports.

Should I judge my trading on net or gross?#

Judge results on net, because that is what your account keeps. Use gross to separate two problems: an edge that is too thin to cover costs, and an edge that isn't there at all. If gross is positive and net is negative, your costs or your trade frequency are the problem, not your entries.