Trading glossary · practical definition
What is realized vs unrealized pnl?
Unrealized PnL belongs to an open position; realized PnL is locked when exposure is closed.
Realized vs unrealized PnL in plain English
Unrealized PnL belongs to an open position; realized PnL is locked when exposure is closed.
Fees and funding can make realized account change differ from chart-only PnL.
Practical example
Closing half a position realizes half of the trade outcome while the rest remains exposed.
Common mistake
Ignoring costs when reconciling PnL.
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