Trades — the front door
Fully specified trades the engine has already qualified — one tested number each, ranked, ten at most.
A trade line, left to right
The trade. ▲ MRK long is a fresh strength run: Alpha crossed 60 and is higher than five sessions ago, confirmed on two closes. ▼ NKE short is the mirror, always shown with its hedge. ▲ UNP / ▼ BA is a leader-vs-laggard pair from the board. Day 3 counts sessions since the desk posted the trade — the close the rule triggered on, the trade's own entry, the one the tested number is for; new means it was posted at the last close. Your entry is when you press + Track: the tracker grades you from that day, the run chart marks it in amber, and the run clock's marker moves to your day. A trade posted a week ago is a different trade from the one that was tested; the clock shows how much of the typical run is already gone.
The hedge. A dash means the line is the plain name. Weak names are only ever offered against the index — shorted on their own they tested negative in every tape. Pairs show their sizing, $1 long : $x short, both legs at equal daily risk.
Tested. One number per shape, printed once on the group header: the average outcome of this shape, in the current tape, at the exit beside it, replayed walk-forward since 2019. Next to it, how often it finished up, how long it was held, and the worst one-in-twenty. It is an average of many trades, not a forecast for this one — the hit rate reads low because the exit cuts losers in about a week and lets winners run. Every name in the group shares it; what differs between the rows is the name.
Alpha now · own runs. The score today, and this name's own best and worst outcome on this shape over its last runs (up to four, within six months). Two losses beside a fresh run are worth a pause even when the shape tests well — a small sample, but this name's sample. The full list of those runs, and how many of the engine's checks agree, is inside the row.
The exit. The rule the number was tested with. Runs: Alpha closes back through 60 (40 for shorts), or day 21. Pairs: three Narrowing days in a row, or day 21. Take it when it fires; the number assumes you do. On the chart, a tracked trade shows where its exit first fired as a red dashed line with a chip — on the main plot for a run, in the spread lane for a pair — so you can see how long it has been open past the rule. The lane's chevrons are different: they bracket days 10–21, where the pair's payoff tested best, not when to leave.
Size. Full or half. Hedged shorts are half because their number is small; a pair is half when its legs are true peers (a tighter hedge, not a stronger thesis) or when it carries real market exposure.
Tested: shapes are listed only where their number is positive in the current tape. In an up-tape that means strength runs and hedged weakness runs; leader-vs-laggard pairs return in flat and grinding tapes, where selling the weak name pays; in a dislocation nothing hedged tests positive and the list is empty on purpose. The full table, with the red cells, is on the engine page.
Open a row
The run. Alpha over the last 30 sessions with the exit line and your entry marked. Below it the run clock: how many runs like this one were still above the line by day. Runs the engine's checks agree on last about twice as long, in every tape — the clock says how long, not how much.
Outcome at the exit. The tested distribution: the red share lost, the green share won, the tick is the mean; average win, average loss, profit factor. Then the name's own last runs of this shape, so you can see whether it tends to run clean or get cut early.
Exit, size it, why. How far the run is from its exit line today; shares per dollar amount for every leg; the hedge switch on longs (no hedge, vs the index, vs the sector — each with its own tested number: the hedge costs a third of the mean and buys a point of tail); and the plain-words list of why it qualified. "The work" opens the name's full ticket on the Stocks tab.
Track it, and the two books
+ Track freezes the trade at today's read and hands it to the tracker, which grades it by its own exit: Working, Watch (within five points of the line, or a deadline), Exit (the rule fired), and Done once you close it with the result frozen.
Your book has two views. Now is the book as it stands this moment: every open tracking marked from its own entry plus every closed one at its frozen result, equal dollars in each. Because every trade is an equal slice, the book's P&L is the average trade, never the sum — beside it the hit rate, profit factor, the open and realised averages, and the single open trade furthest underwater. Closing a loser moves it from the open average to the realised one; the book number does not flatter you for it. Closed is the realised record alone — P&L, hit rate, profit factor, and, after 30 closed, Sharpe and Sortino — which is the one to compare with the house. Under it sits override cost, your discretion measured three ways against the rule: vs the rule is your result minus the house's on the trades you both took (your exit timing against the rule's); skipped is the list trades the house closed since you started that you never tracked, and what they did; your own is the closed trackings that were not on the list. Each tracked row also carries a small sparkline of its path since entry, one mark per close, so you see how a trade got where it is rather than only where it stands. The house book is the desk's own record: every qualified trade, taken at the close by the rules, sized by the rules, exited by the rules, after costs, marked daily. It reads the same way as yours — a now view (the book marked today, open and closed together) and a closed view (the realised record; hit rate and profit factor appear after ten closed, because the first trades to close are the quick losers by construction, and the ratios after thirty). Under it, you vs the house: the house's result on the trades you also took, what it took without you, and today's mark. Both books end with an equity line — the last sixty sessions, open and closed marked daily, the way a broker statement draws it; today's point is the now number. If the house runs ahead of you, you are overriding the rules in a way that costs; if you run ahead of it, your selection within the list is adding something.