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

QQQ · Noise area

Opened Oct 21, 2026, closed Oct 21, 2026, in INTRA2.

The trade

Account: INTRA2
Strategy: Noise area
Book: noise
Symbol: QQQ
Asset class: equity
Side: long
Exposure: long
Status: closed
Opened: Oct 21, 2026
Closed: Oct 21, 2026
Quantity: 59
Entry price: 727.228644
Exit price: 723.997288
Exit by: signal
Book value at entry: $47,656.78

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: $42,906.49
Exit value: $42,715.84
P&L: −$190.65
Dividends: —
P&L with dividends: —
Costs: $0.83
Net P&L: −$191.48
Return: −0.44%
Of the book: −40.0 bp
R multiple: —
Held: 30.1 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 21, 2026	14:30 ET	buy	59	59	727.228644	727.21	—	+0.3 bp	—	—	long in: 727.21 > band 726.52	8 trigger numbers at 14:30 lb 713.3338648545587 px 727.21 ub 726.5234937252313 pos 1 vwap 724.3802300706601 reason long in: 727.21 > band 726.52 symbol QQQ 1 number fills 1
exit	Oct 21, 2026	15:00 ET	sell	59	59	723.997288	724.32	—	+4.5 bp	—	signal	long out: 724.32 < max(band 726.85, VWAP 724.63)	8 trigger numbers at 15:00 lb 713.0077176152399 px 724.32 ub 726.8517179302339 pos 0 vwap 724.6335773163254 reason long out: 724.32 < max(band 726.85, VWAP 724.63) symbol QQQ 1 number fills 1

Orders

Role	Side	Kind	Qty	Limit	Model price	Status	Filled	Average	Sent (ET)	Filled (ET)
entry	buy	market	59	—	727.21	filled	59	727.228644	14:30 ET	14:30 ET
exit	sell	market	59	—	724.32	filled	59	723.997288	15:00 ET	15:00 ET

Path while held

Span: 31 minutes
High: 727.3499
Low: 723.77
Best point (MFE): +0.02%
Worst point (MAE): −0.48%
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: 727.1905 at 14:30 ET
Exit: 724.4101 at 15:00 ET
Exit by: —
The rule's day: −1.0%
The rule's trades that day: 4

side: 1
symbol: QQQ
exit_min: 900
entry_min: 870

Notes

the noise-area rule on SPY and QQQ: checks on the half hour 10:00-15:30, out at the close

inputs

open.at: 10:00:06
leverage: 1.814824353501948
open.note: QQQ: open 722.20, previous close 717.63, leverage 1.81, 59 shares a leg
open.open: 722.2
open.event: open
prev_close: 717.63
open.shares: 59
open.symbol: QQQ
sigma_10:00: 0.002542428249385688
open.leverage: 1.814824353501948
open.prev_close: 717.63