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Glossary / Market structure

Round turn

Definition

A completed trade consisting of an entry and a matching exit.

Why it matters

Futures commissions are usually quoted per round turn, and journals pair raw fills into round turns to report P&L correctly.

Example

Buying 2 NQ contracts and later selling those same 2 contracts is 2 round turns, and futures commissions are usually quoted per round turn.

How to track it in a journal

TradeStack calculates the core performance numbers — win rate, average win and loss, profit factor, expectancy, drawdown and consistency — automatically from imported trades, so round turn stops being something you estimate and becomes something you read.

Related terms

Slippage
The difference between your expected fill price and the price you actually get.
Spread
The gap between the best bid and the best ask.
Liquidity
How much size a market can absorb without moving price.
Volatility
How much price moves over a given period.

Questions that use this term

Keep reading

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Position size, risk-reward, expectancy and options profit.
Expectancy calculator
Expected profit per trade from your own numbers.
Broker CSV export guides
Step-by-step exports for Tradovate, NinjaTrader, IBKR and more.
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