> For the complete documentation index, see [llms.txt](https://docs.fuyo.markets/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fuyo.markets/trading/p-and-l-for-beginners.md).

# P\&L for Beginners

#### What is P\&L?

P\&L means profit and loss.

* If you win: you receive the payout shown in your ticket
* If you lose: you lose the stake amount
* If refunded (rare): you get your stake back

{% hint style="info" %}
Your “profit” is the payout minus the stake you put in (depending on how Fuyo displays results). Always check how the app shows net vs gross.
{% endhint %}

***

#### Ben’s example

Ben stakes 20 USDT

* Win payout displayed: 36 USDT

  If he wins, his net profit is +16 USDT minus fees (36 - 20 - fees), assuming payout includes stake.