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Scoring methodology · Season 2027

Five weights. One score.

Five measures, each scored 0–100 against everyone in your division, then multiplied by weight. Nothing else goes in.

Get early access · ₹2,500See each measure ↓
01

Deposits raise the base. Nothing lowers it.

Your return is your profit or loss divided by your capital base. Withdrawals and losses never shrink that base.

One season, starting at ₹10 lakh
Capital baseAccount value
Capital base and account value over one season starting at ₹10 lakh: a ₹5 lakh top-up at A raises the base to ₹15 lakh; a ₹5 lakh withdrawal at B leaves it at ₹15 lakh₹10L₹15LABJFMAMJJASOND
ATop up ₹5L, then make ₹3L
+20%The base rises to ₹15L. ₹3L on ₹15L is 20%.
BWithdraw ₹5L, then make ₹1.5L
+10%The base stays at ₹15L. Withdrawals never lower it.
Why a top-up can’t hide a loss
Lose ₹2L on a ₹10L base, then deposit ₹90L that evening. The base was ₹10L when you lost, so the loss counts in full. The deposit only raises the base from the next day.−20%
What counts in your return
  • Floor ₹5L Cash · ₹10L Derivatives
  • After brokerage, STT, stamp duty, GST, exchange and SEBI fees
  • Open positions at the closing or settlement price
  • Above the 91-day T-bill rate
02

Return counts most. But not on its own.

40% of the score is what you made. The other 60% is how you made it. Here is one sample account, measured five ways.

Return

Excess returnWeight40%
Sample equity curve ending +18.4%, above the dashed T-bill line+18.4%T-bill
+18.4%↑ higher is betterabove the T-bill rate
Every rupee of cost comes off first, so this is what you actually kept.

Time underwater

Ulcer IndexWeight20%
Sample underwater chart: account value against its running high, Ulcer Index 6.2Ulcer Index 6.2Below your high
6.2↓ lower is betterindex · 0 means never below your high
One deep fall with a slow recovery costs more than several small dips.

Worst days

CVaR 95%, dailyWeight15%
Sample daily-returns histogram, worst 5% of days averaging −2.1%Worst 5% · avg −2.1%Loss daysGain days
−2.1%↓ lower is betteraverage of the worst 5% of days
A single blow-up day stays in this average all season.

Winning weeks

Positive weeksWeight15%
Sample 48-week grid: 34 of 48 active weeks beat the T-bill; empty weeks had no positions34 of 48 beat the T-bill · empty: no positions
34 of 48↑ higher is betteractive weeks beat the T-bill
Weeks with no open positions don’t count for or against you.

Gain to pain

Gain-to-pain, weeklyWeight10%
Gain to pain: net weekly gains bar against losing-week losses bar, ratio 2.8, capped at 10Net weekly gainsLosing-week losses= 2.8Weekly, capped at 10
2.8↑ higher is betternet weekly gains ÷ losing-week losses
Big wins that cost bigger losses read low here.
Sample account, illustrative figures
DivisionCash or Derivatives. One F&O trade moves an account to Derivatives for the whole season. You are only compared with accounts in the same division.
T-bill rateThe 91-day Government of India Treasury bill yield, roughly what a risk-free deposit earns. Fixed on 1 January.
Time underwater index0 means you never fell below your previous high. The deeper or longer the falls, the higher it goes.
03

Scored against the field. Then multiplied, not added.

Each measure is compared with the median account in your division, which scores 50. Scores run from 0 to 100 and are multiplied together, so one weak area can’t hide behind the others.

Sample accountSAMPLE
Return+18.4%74
Time underwater6.266
Worst days−2.1%58
Winning weeks34 of 4871
Gain to pain2.869
TGIMC score68.8Weighted and multiplied, using the weights above
Full methodologyEvery formula and rule, in one document.How each measure is calculated, the scoring scale, edge cases and worked examples.Download PDFSeason 2027 · updated with each rule change
04

Your rank goes public. Your returns stay yours.

PUBLIC · EVERYONE SEESDerivatives division
  1. 6Trader B70.1
  2. 7SilentTheta68.8
  3. 8Trader E67.4
Rank and score only. Use your real name or an alias.
PRIVATE · ONLY YOU SEESilentTheta’s scorecard
Your Return+18.4%Plus every raw figure and your score on each measure. Nobody else sees these.

Every week

Scores and ranks are recalculated every week, and each measure’s median and spread is published with them.

Year to date

Your score covers the season so far, within your division. There’s no minimum activity to be ranked.

Provisional at first

Standings are provisional for the first three months.

05

Written down. Before anyone trades.

No penalties, bonuses or manual adjustments. The same rules for every account, frozen for the season.

Season 2027 rule bookSame for every accountFrozen 1 Jan
  1. 01If you start the seasonYour starting capital is proven by a broker statement on the start date.
  2. 02If losses reach your baseRanked last, score frozen.
  3. 03If positions outgrow your accountRepeated breaches: unranked.
  4. 04If a case isn’t coveredCommittee rules within 7 days, in public.
  5. 05If two accounts tieUnrounded score decides, then higher return, then lower Ulcer Index.
  6. 06If the method changesOnly between seasons, with 60 days’ notice.

Now you know the rules. Next, put your year on the board.

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