How Tournament Results Are Scored on PnL World
How places are decided in a PnL World trading tournament: final result after fees and funding, open positions counted as closed, tie-breaks and liquidation.
Every place in a PnL World tournament is decided by one number: your tournament result — the final return on your starting bankroll, after all fees and funding. The highest result wins. This article explains exactly how the number is calculated, how ties are broken, and how the rules limit reckless risk.
The tournament result
Tournament result = (result equity − starting bankroll) ÷ starting bankroll
Your result equity includes everything:
- Closed trades — profit and loss after entry and exit fees.
- Funding — paid or received on perpetual positions, as on an exchange.
- Open positions — counted at the current mark price as if you closed them now, including the exit fee you would pay.
Counting the exit fee up front means your result does not drop when you actually close: closing a position at market changes it only by slippage. Holding a position to the bell has no advantage over closing it yourself. At the bell, any open positions are closed at market and the standings are final.
You see this number live in the terminal as Tournament result, and the standings use exactly the same number.
How places are ordered
- Accounts that were not liquidated, from the highest result to the lowest.
- Ties: if two results are exactly equal, the trader with the smaller maximum drawdown ranks higher. If that is equal too, the earlier entry ranks higher.
- Liquidated accounts rank below every account that was not liquidated.
A trader who joins and makes no trades finishes on exactly 0% — above everyone who finished in a loss.
Maximum drawdown
Maximum drawdown is the largest fall of your result equity from its own previous peak during the tournament. It does not change your result, but it decides ties between equal results.
Example
| Trader | Result | Max drawdown | Liquidated | Place |
|---|---|---|---|---|
| A | +9.2% | 6% | no | 1 |
| B | +4.0% | 2% | no | 2 |
| C | +4.0% | 11% | no | 3 — same result as B, larger drawdown |
| D | 0.0% | 0% | no | 4 — no trades |
| E | −3.1% | 8% | no | 5 |
| F | +31.0% before liquidation | — | yes | 6 — last |
How the rules limit gambling
A contest ranked by return alone invites the all-in lottery: maximum leverage on one idea and hope. PnL World limits it with the rules around the score rather than inside it:
- Leverage caps. Short formats allow up to 20×, long flagships up to 10×.
- Liquidation finishes last. An account that is liquidated ranks below everyone who kept theirs, however good it looked before.
- Places, not percentages, build the rating. A +300% win earns the same PnL World Rating (PWR) points as a +3% win in the same field. Taking extreme risk to win by a wide margin earns nothing extra.
- Many events, long formats weighted most. One lucky tournament is one place; the top of the World Rankings takes a record across many tournaments, especially Monthly Majors, Quarterly Finals and the World Championship.
FAQ
Does drawdown lower my result? No. Your place is set by the final result. Maximum drawdown only breaks ties between equal results.
Does closing a winning position early change my result? Only by slippage. The exit fee is already counted while the position is open.
What happens if I am liquidated? You rank below every account that was not liquidated in that tournament. The tournament still counts as a rated finish.
Where do I see my result? In the terminal, as Tournament result, updated live — the same number the standings use.
PnL World tournaments are simulated: trades are executed against live market data, but no real-money positions are opened on any exchange. Nothing here is financial advice.
Next: How trading tournaments work · PnL World Rating (PWR) explained