Paper-trading worksheet · Closing Bell Brief

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Before you begin

Make the exercise observable.

Use a simulated scenario only. No broker connection or real order is needed.
Write the plan before you interpret the outcome.
Treat uncertainty, position size, and a defined invalidation point as part of the exercise.

Practice record

One scenario, recorded with care.

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Set the scene

Scenario & market context

What are you studying, and what was knowable before the exercise began?

Date / sessionMarket or asset studiedTimeframe

What is the scenario you are practicing?Describe the setup without calling it a recommendation.What market context mattered before the exercise?Note the broad conditions, scheduled events, or uncertainty you were aware of.

Explain the why

Rationale & thesis

Put the reasoning into words so you can review the quality of the process.

State the thesis in one sentence.A hypothesis to observe—not a prediction or instruction.What evidence supports the thesis, and what evidence challenges it?

Define the guardrails

Risk plan

Risk awareness belongs in the plan before the outcome is visible.

Simulated starting amountSimulated amount at risk

What would invalidate the thesis?Name the observation that would tell you the idea no longer holds.What is your planned exit or stop condition for this simulation?Describe a rule, not a hoped-for result.

Stay with the record

Observations during the exercise

Capture what changed, what stayed steady, and whether you followed the plan.

What did you observe as the exercise unfolded?Did you change the plan? If so, what prompted the change?

Close the loop

Post-trade reflection & lesson

Review the decision process, not just whether the scenario worked.

What happened compared with your plan?What did you learn about your assumptions or risk awareness?What will you repeat, test, or change next time?

Remember: a simulated result is not evidence of future performance. The useful record is the reasoning, the risk boundary, and the lesson you can carry into the next exercise.