X points are tallied based on the set counts throughout a tournament, and not how well you place in it. To be even more technical:

2-0 = 2 points
2-1 = 1 point
1-2 = 0 points
0-2 = -1 point

In other words, say Kyoz wins five sets in a tournament, all 2-0's. Kyoz gets 10 points on the X points list. However, if Gosick gets 3 2-0's, a 2-1, and a 1-2; Gosick only gets 7 points. As of now, it is not possible to have less than 0 points, but that might change in the future. Best of 5 sets are extended to include 3-0 (+3), 3-1(+2), 1-3(-1), and 0-3(-2).

I did change this formula recently to include how many tournaments a player has participated in. This can be expressed by:

If W is Wins, L is Losses, and T is number of tournaments a user participates in. This gives a more accurate rating for players and is no longer a competition to see how many tournaments a player participates in.