How performance is calculated

Trading results are kept apart from money moved in or out. Depositing $100 is not a gain, and withdrawing it is not a loss.

What's included

Only 15-minute markets (crypto, commodities, FX). Parlays, single-game sports and other bets held in the same account are excluded, along with their gains and losses.

Bankroll

Opening cash on the start date, plus deposits and minus withdrawals since then, plus P&L from included markets, measured at the end of each UTC day. Open positions use the last traded price when an end-of-day mark was recorded, otherwise cost.

Net deposits

Opening cash on the start date, plus deposits after card or transfer fees, minus withdrawals. This is capital, not performance.

Realized P&L

Profit or loss on markets that have settled or been sold, after trading fees. It's dated when the market settles.

Unrealized P&L

Mark value minus cost of positions still open at the cutoff.

Fees

Exchange trading fees. They're already subtracted from realized P&L and shown separately for transparency. Deposit fees reduce net deposits instead.

Cumulative P&L

Realized plus unrealized P&L, which equals bankroll minus net deposits.

Time-weighted return

Daily returns (P&L ÷ start-of-day bankroll, with that day's deposits counted from the start of the day) compounded into an index that starts at 100. Deposit size and timing don't distort it, so it's the fair way to compare periods.

Return on deposits

Cumulative P&L ÷ net deposits: a simple measure of what happened to the money put in.

Max drawdown

The largest fall from a running peak to a later low. On the return index it's a percentage; on P&L it's in dollars.