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A trace formula for an extension of complete valued fields

I'm trying to understand the following fact. Proposition. Let $L/K$ be a finite separable extension of complete valued fields, with respective valuations $w$ and $v$, valuation rings $\mathcal{O}_L$ ...
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What is a valuation associated to an ordering on a field?

If $(K,\leq)$ is a totally ordered field with $P\!=\!\{\alpha\!\in\!K;\, 0\!\leq\!\alpha\}$, how is the valuation associated to $P$ defined? I was searching through Prestel & Delzell's Positive ...