Futures trading adopts debt-free settlement on the same day. Before mastering the profit and loss of positions, we must first master a concept: settlement price. Settlement price refers to the benchmark price for margin settlement and profit and loss settlement of the open contract on that day, which is obtained by weighted average of the transaction price of the futures contract on that day according to the volume. The settlement price of the previous trading day with no transaction price on that day is the settlement price of that day. With the benchmark price of the settlement price, you can calculate the profit and loss of your open contract. The specific calculation method is: 1. If multiple orders are held, the position profit and loss = the settlement price of the opening price of the day. 2. If you hold short positions, profit and loss = opening price, settlement price of the day, and closing profit and loss of the day refers to the actual profit and loss of your closing contract of the day. The liquidation of stocks refers to the behavior of futures traders to buy or sell futures contracts with the same variety, quantity and delivery month but in the opposite direction, and to close futures transactions. Simply put, it means "sell what you bought and buy what you sold (short)." The calculation method is: in the case of partial liquidation, the cost price of remaining stocks after liquidation = (transaction amount of all stocks bought+transaction cost of all trading transactions-transaction amount of stocks sold after liquidation) ÷ the number of remaining stocks. Under normal circumstances, investors can directly observe the cost, profit, profit percentage and so on after liquidation through the stock position information in the investor's account in the trading software.