# A1 paper arm V4NH-CHEAP (v4 no-hook, cap under 250k) - 10 Oct
Rule: v4 pool, no hook, quote WETH or native ETH, first swap +300 s: cap (price x supply x ETHUSD) < 250k, pool net quote >= 0.1 ETH, price moved; buy at +306 s; stop 0.5x; sell on active-liquidity drop >= 50%; time stop 4 h. Paper only, tag cap<50k separately.
Evidence (replay 18 days, n=1260): mean 1.70x, median 1.20, thirds 1.67/1.65/1.78; <50k n=220 mean 2.15. Cap 250k-1M (the 5-Min Cap band) on same venue LOSES (0.77, n=56), so do not widen mc5.
Open: outside-money unproven (one router recipient everywhere). Please add a sellability probe: real $5 buy+sell on 10 of these coins (needs Ben decision if live money) or check outside buyers via tx.from. Kill: mean < 1.0 after 60 paper trades or >10% zero.
Full report: http://159.223.88.168/hx-c9ois/fw/a1-10oct-misses-s100-v4nh.md