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 27, 2026, closed Oct 27, 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 27, 2026
Closed: Oct 27, 2026
Quantity: 50
Entry price: 718.9962
Exit price: 719.68
Exit by: flatten
Book value at entry: $47,224.97

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: $35,949.81
Exit value: $35,984.00
P&L: +$34.19
Dividends: —
P&L with dividends: —
Costs: $0.70
Net P&L: +$33.49
Return: +0.10%
Of the book: +7.2 bp
R multiple: —
Held: 36.6 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 27, 2026	11:00 ET	buy	50	50	718.9962	718.68	—	+4.4 bp	—	—	long in: 718.68 > band 718.46	8 trigger numbers at 11:00 lb 708.8644227098347 px 718.68 ub 718.4592062285457 pos 1 vwap 716.1244887294934 reason long in: 718.68 > band 718.46 symbol QQQ 1 number fills 1
exit	Oct 27, 2026	11:36 ET	sell	50	50	719.68	—	—	—	—	flatten	closed at market by the runner, which closed the account for the day: its orders list went unread for a minute	1 number fills 1

Orders

Role	Side	Kind	Qty	Limit	Model price	Status	Filled	Average	Sent (ET)	Filled (ET)
entry	buy	market	50	—	718.68	filled	50	718.9962	11:00 ET	11:00 ET
exit	sell	market	50	—	—	filled	50	719.68	11:36 ET	11:36 ET

Path while held

Span: 37 minutes
High: 720.31
Low: 718.69
Best point (MFE): +0.18%
Worst point (MAE): −0.04%
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: 718.70 at 11:00 ET
Exit: 720.65 at 14:00 ET
Exit by: —
The rule's day: −0.0%
The rule's trades that day: 3

side: 1
symbol: QQQ
exit_min: 840
entry_min: 660

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: 10:00:04
leverage: 1.5392903067309072
open.note: QQQ: open 715.11, previous close 712.20, leverage 1.54, 50 shares a leg
open.open: 715.11
open.event: open
prev_close: 712.2
open.shares: 50
open.symbol: QQQ
sigma_10:00: 0.0025244445338262122
open.leverage: 1.5392903067309072
open.prev_close: 712.2