Paper trading, not investment advice. Every account and book on these pages trades paper money: the Alpaca paper accounts DAILY ($1,000,000 from Sep 30, 2026), INTRA1 ($100,000 from Sep 30, 2026) and INTRA2 ($100,000 from Sep 30, 2026); the simulated books SIM-TT ($100,000 from Sep 29, 2026), SIM-V2B ($100,000 from Sep 28, 2026) and SIM-V2B-TOM ($100,000 from Sep 28, 2026), filled at the official close; and market-analysis's ledgers, one contract per position against a $100,000 reporting equity. No real money is at stake. Positions, trades and P&L are published the same day, as the engines record them, with each number's source and cost model labelled. Nothing here is a recommendation to buy, sell or hold any security, and nothing is tailored to you. Each strategy is a pre-registered experiment, read once on a date or at a trade count fixed in advance; until then its record says little either way. I may hold or have held positions in securities shown here. Markets can and do lose money.

Trade

QQQM · Crabel's opening range

Opened Oct 26, 2026, closed Oct 26, 2026, in INTRA2.

The trade

Account: INTRA2
Strategy: Crabel's opening range
Book: crabel
Symbol: QQQM (on QQQ)
Asset class: equity
Side: long
Exposure: long
Status: closed
Opened: Oct 26, 2026
Closed: Oct 26, 2026
Quantity: 267
Entry price: 292.048839
Exit price: 292.807603
Exit by: stop
Book value at entry: $44,397.10

Record Trade journal

Cost model

Alpaca paper fills, with no commission; Alpaca's SEC and CAT fees, charged by the day, are left out. Commission is estimated at $0.007 a share a side, the rate at the owner's own broker: the net P&L is the P&L less it; the P&L, the return, the P&L in basis points of the book and the R multiple are before it. The rule book's day return is the rule's own replay on SIP bars, after the research's own costs: $0.0035 a share a side in commission for the noise area and $0.007 for the other rules, and a cent a share of slippage on every fill except a resting limit order's and the noise area's exit at the close.

Result

Entry value: $77,977.04
Exit value: $78,179.63
P&L: +$202.59
Dividends: —
P&L with dividends: —
Costs: $3.74
Net P&L: +$198.85
Return: +0.26%
Of the book: +45.6 bp
R multiple: +0.46
Held: 190.6 minutes

Entry and exit

Role	Date	At (ET)	Side	Qty	Asked	Price	Rule's price	Close	Slippage	Against the close	How	Why	The rule's numbers
entry	Oct 26, 2026	09:38 ET	buy	267	267	292.048839	291.993732	—	+1.9 bp	—	—	long at 709.10 (QQQ), stop 705.06, weight 1.76: 267 QQQM at about 292.04	5 trigger numbers plan armed true stretch 2.015997314453125 qqq_over_qqqm 2.42846307660484 bands at 09:30:01 note open 707.08: bands 709.10 / 705.06 (stretch 2.016) event bands lower 705.0640026855469 upper 709.0959973144531 stretch 2.015997314453125 first_trade 707.08 first_trade_at 09:30:00 entry at 09:38:17 qty 267 band 709.0959973144531 note long at 709.10 (QQQ), stop 705.06, weight 1.76: 267 QQQM at about 292.04 side 1 stop 705.0640026855469 event entry minute 8 weight 1.7586729710173645 qqqm_px 292.03655877342425 entry_px 709.0959973144531 arming day 2026-10-23 low 701.1599731445312 nr4 true nr7 false high 709.2999877929688 armed true range 8.1400146484375 inside false prior_low 701.9000244140625 prior_high 715.4299926757812 min_range_4 8.1400146484375 min_range_7 7.97998046875 arming_agrees true 1 number fills 1
exit	Oct 26, 2026	12:48 ET	sell	267	267	292.807603	292.842832	—	+1.2 bp	—	stop	stop: out (QQQ 711.11, stop 711.16)	8 trigger numbers exit at 12:48:49 how stop best 715.19 note stop: out (QQQ 711.11, stop 711.16) stop 711.1580053710939 event exit minute 198 qqq_px 711.11 trail.at 10:50:04, 10:53:03, 10:57:04, 10:58:03, 10:59:03, 11:01:03, 11:02:03, 11:03:03 trail.best 713.48, 713.8, 713.99, 714.2, 714.27, 714.83, 715.135, 715.19 trail.note trail: stop 705.06 -> 709.45, trail: stop 709.45 -> 709.77, trail: stop 709.77 -> 709.96, trail: stop 709.96 -> 710.17, trail: stop 710.17 -> 710.24, trail: stop 710.24 -> 710.80, trail: stop 710.80 -> 711.10, trail: stop 711.10 -> 711.16 trail.event trail, trail, trail, trail, trail, trail, trail, trail trail.minute 79, 82, 86, 87, 88, 90, 91, 92 trail.stop_to 709.4480053710938, 709.7680053710938, 709.9580053710938, 710.1680053710938, 710.2380053710938, 710.7980053710938, 711.1030053710938, 711.1580053710939 trail.stop_from 705.0640026855469, 709.4480053710938, 709.7680053710938, 709.9580053710938, 710.1680053710938, 710.2380053710938, 710.7980053710938, 711.1030053710938 1 number fills 1

Orders

Role	Side	Kind	Qty	Limit	Model price	Status	Filled	Average	Sent (ET)	Filled (ET)
entry	buy	market	267	—	709.095997	filled	267	292.048839	09:38 ET	09:38 ET
exit	sell	market	267	—	711.158005	filled	267	292.807603	12:48 ET	12:48 ET

Path while held

Span: 191 minutes
High: 294.50
Low: 290.63
Best point (MFE): +0.84%
Worst point (MAE): −0.49%
Bars from: SIP 1-minute bars

The rule's own trade

The rule replayed on its own bars, beside the account's fills.

Matched the account: yes
Entry: 709.085997 at 09:38 ET
Exit: 711.218005 at 12:47 ET
Exit by: stop
The rule's day: +0.5%
The rule's trades that day: 1

best: 715.25
side: 1
stop: 705.054002685547
exit_min: 197
entry_min: 8
live_stop: 711.2180053710938

Notes

Crabel's opening range with a trailing stop, decided on QQQ and traded in QQQM

09:30:01 open 707.08: bands 709.10 / 705.06 (stretch 2.016)
09:38:17 no more entries: one trade a day
09:38:17 long at 709.10 (QQQ), stop 705.06, weight 1.76: 267 QQQM at about 292.04
10:50:04 trail: stop 705.06 -> 709.45
10:53:03 trail: stop 709.45 -> 709.77
10:57:04 trail: stop 709.77 -> 709.96
10:58:03 trail: stop 709.96 -> 710.17
10:59:03 trail: stop 710.17 -> 710.24
11:01:03 trail: stop 710.24 -> 710.80
11:02:03 trail: stop 710.80 -> 711.10
11:03:03 trail: stop 711.10 -> 711.16
12:48:49 stop: out (QQQ 711.11, stop 711.16)

inputs

armed: true
stretch: 2.015997314453125
qqq_over_qqqm: 2.42846307660484