How to calculate trading profit?

Could you please explain in detail how one goes about calculating their trading profit in the cryptocurrency market? Is it simply a matter of subtracting the cost of the asset from the selling price, or are there other factors that need to be considered? Are there any specific formulas or tools that traders typically use to ensure accurate calculations? Additionally, how does one account for fees and commissions when calculating their profit? Understanding these nuances will be crucial for me to make informed decisions in my own trading endeavors.