1. What is Insider Week Profit?

The Insider Week Profit calculation determines the monetary gain or loss from a trading position based on the difference between opening and closing prices multiplied by the position size.

2. How Does the Calculator Work?

The calculator uses the profit equation:

Where:

• \( Close \) — Closing price in currency
• \( Open \) — Opening price in currency
• \( Position\ Size \) — Number of units held

Explanation: The equation calculates the absolute profit or loss by multiplying the price difference per unit by the total number of units held.

3. Importance of Profit Calculation

Details: Accurate profit calculation is crucial for performance evaluation, tax reporting, and making informed trading decisions.

4. Using the Calculator

Tips: Enter the opening and closing prices in your currency, along with the position size in units. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Does this account for trading fees?
A: No, this calculates gross profit. For net profit, you would need to subtract any applicable fees or commissions.

Q2: What if the result is negative?
A: A negative result indicates a loss on the position.

Q3: Can I use this for any time period?
A: While designed for weekly calculations, the formula works for any time period.

Q4: How precise should the inputs be?
A: Use as many decimal places as your trading platform provides for maximum accuracy.

Q5: Does this work for short positions?
A: For short positions, reverse the open and close prices in the calculation.