Paper Trade Review Template
A paper trade review template that preserves the original research.
A paper trade is useful when the later result stays connected to the thesis, evidence, contradiction, data quality, and risk assumptions that existed at the time.
Quick Answer
A useful paper trade review records the original thesis before judging the outcome. It should include evidence for, evidence against, data quality, contract or risk assumptions, invalidation, and the lesson learned.
The point is not to prove that a paper trade was right. The point is to learn whether the process was sound.
The Review Template
Original thesis
What did you believe before the outcome was known?
Evidence for
What facts or observations supported the idea at the time?
Evidence against
What contradicted the idea or made the setup weaker?
Data quality
Were quotes, chains, headlines, and market status fresh enough to trust?
Risk and structure
What spread, expiration, max loss, or invalidation condition mattered?
Outcome lesson
What happened, and what should change in the process next time?
Copyable Review Prompt
Before outcome: I am tracking this idea because __. The supporting evidence is __. The main contradiction is __. The data-quality risk is __. The trade or paper scenario is invalidated if __.
After outcome: What happened was __. The original thesis was helped or hurt by __. The most useful process lesson is __. Next time I will change __.
Common questions
What should a paper trade review include?+
It should include the original thesis, supporting evidence, contradictions, data quality, risk assumptions, outcome, and a process lesson.
Why review paper trades?+
Paper reviews help separate a good process from a lucky outcome, and a weak process from an unlucky result.
How do I avoid hindsight bias in paper trading?+
Record the thesis, evidence, contradiction, and invalidation before the outcome is known, then compare the later result with that original note.
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