A paper trading journal for Indian markets: what to record
Build a useful paper journal with source timestamps, setup reasoning, risk checks, partial closes and a clear distinction between simulated and real results.
Record the decision, not only the outcome
A final profit or loss figure leaves out most of the process. Record why the setup was considered, what evidence was available and what could invalidate it. Include rejected or skipped ideas when reviewing your routine. A later favourable move does not prove that ignoring a missing input would have been a sound decision.
Identify the source and the time
Keep the instrument, exchange, observation window, price source and source timestamp with the entry. A journal event time records when the application saved an event. It is not necessarily the market time of the price used. Keeping those fields separate helps explain why a plan was allowed earlier but blocked after the underlying observation became stale.
Preserve the original risk assumptions
Record the selected paper capital, risk limit, proposed quantity and stop distance. If fees or slippage are not modelled, say so. A later change to a setting should not rewrite the assumptions behind an older decision. Review multiple open positions together rather than treating each entry as the only exposure in the workspace.
Track reductions as well as full closes
A partial close reduces the remaining paper quantity while leaving the rest of the position open. Keep the closed quantity, exit observation, remaining quantity and gross realised result for each reduction. An uncertain network response should lead to a state refresh before another submission; the journal should help establish whether the first request already succeeded.
Understand the P&L label
KAVIX’s paper-position close view identifies gross P&L before costs where fees and slippage are not modelled. That number is not a broker account return. Unrealised paper P&L requires a usable mark and should become unavailable when the relevant quote or connection cannot be verified. A stale price should not become a new “Live” observation.
Review patterns in the process
Ask whether your inputs were complete, whether the thesis was consistent with the selected time frame, and whether you followed the configured checks. Paper journals are useful for inspecting workflow behaviour. They do not establish that a real order would fill at the same price or produce the same result. KAVIX real order execution remains disabled.
Sources and further reading
KAVIX paper trading workflow ↗