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 26, 2026, closed Oct 26, 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 26, 2026
Closed: Oct 26, 2026
Quantity: 53
Entry price: 709.805094
Exit price: 712.11
Exit by: close
Book value at entry: $47,095.11

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: $37,619.67
Exit value: $37,741.83
P&L: +$122.16
Dividends: —
P&L with dividends: —
Costs: $0.74
Net P&L: +$121.42
Return: +0.32%
Of the book: +25.9 bp
R multiple: —
Held: 328.9 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	10:30 ET	buy	53	53	709.805094	709.83	—	−0.4 bp	—	—	long in: 709.83 > band 709.62	8 trigger numbers at 10:30 lb 701.857142430368 px 709.83 ub 709.6224961694488 pos 1 vwap 708.1762592696181 reason long in: 709.83 > band 709.62 symbol QQQ 1 number fills 1
exit	Oct 26, 2026	15:59 ET	sell	53	53	712.11	—	712.20	—	+1.3 bp	close	out by a market order sent at 15:59:00, for the rule's exit at the official close	5 trigger numbers at 15:59:00 held 53 note QQQ: out at market for the close (53 held) event close_phase symbol QQQ 1 number fills 1

Orders

Role	Side	Kind	Qty	Limit	Model price	Status	Filled	Average	Sent (ET)	Filled (ET)
entry	buy	market	53	—	709.83	filled	53	709.805094	10:30 ET	10:30 ET
exit	sell	market	53	—	—	filled	53	712.11	15:59 ET	15:59 ET

Path while held

Span: 330 minutes
High: 715.25
Low: 708.67
Best point (MFE): +0.77%
Worst point (MAE): −0.16%
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: 709.895 at 10:30 ET
Exit: — at 16:00 ET
Exit by: —
The rule's day: +0.3%
The rule's trades that day: 3

side: 1
symbol: QQQ
exit_min: 960
entry_min: 630

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: 10:00:05
leverage: 1.6000120123200525
open.note: QQQ: open 707.07, previous close 704.40, leverage 1.60, 53 shares a leg
open.open: 707.07
open.event: open
prev_close: 704.4
open.shares: 53
open.symbol: QQQ
sigma_10:00: 0.002547506738992019
open.leverage: 1.6000120123200525
open.prev_close: 704.4