1. How do I do a "IF" formula with the result being zero or blank if no
entry is made but also calculate the profit or loss when the trade is
entered? Currently I'm using (E5*100)*I5-(E5*100)*F5-20

Is E5 the number of contracts? If yes, use -20*(E50)

2. How do I calculate a "number of days held" if date in = 08/19/03 &
date
out = 09/13/03

Just subtract, forcing an integer. INT(date_out - date_in).

3. What would the formula be to calculate annual % return from the
profit/loss column and the number of days held column ?

((Cost + profit/loss)/cost)^(365/days_held) -1. Format as %.

4. What would the formula be to calculate the immediate % return (not
annualized)

((Cost + profit/loss)/cost -1. Format as %.

HTH,
Merjet