My Rules and Notes: If I say yes to market, then market will say no. If I say no to market, then market will say yes. – Money Mindset Therapy.
- Set TradingView Time Zone to London. Set GMT or BST according to the season period.
- The best trade time is 12pm – 5pm GMT and 1pm – 6pm BST (London/New York overlap). But I should be ready from London session.
- I should focus on PIPS, LIQUIDITY, AOI, POI, OB, FVG, CONFLUENCE and BIAS.
- I prefer Swing and Day traders style now because I want to focus on higher time frame and long point moves.
- Risk 2% of capital per trade, calculate position sizing, use 1:3RR, and only trail stop-loss to breakeven when price crosses 1:2RR.
- I will use both Market Execution (enter and stay quiet) and Buy/Sell Limit (set and forget). There are no hard and fast rules here, it will take time to test all three methods to see which works best for me.
- I will pause the trading after the loss or profit according to risk parameters rules. That is Daily 1%, Weekly 3%~5% and Monthly 10%~20% rule.
Setting Location and Time for Forex Trading in TradingView Chart.
I will choose London as my location and time because the main liquidity starts flowing through the London session, offering high trading volume, tighter spreads, and strong price movements, especially during the London-New York overlap.
In London, the time zone follows Greenwich Mean Time (GMT) or British Summer Time (BST) depending on the season.
Standard Time (GMT – Greenwich Mean Time) → UTC 0
- From late October to late March (Winter)
- No difference from UTC (e.g., if UTC is 12:00 PM, London is also 12:00 PM).
Daylight Saving Time (BST – British Summer Time) → UTC +1
- From late March to late October (Summer)
- Clocks move forward by 1 hour (e.g., if UTC is 12:00 PM, London is 1:00 PM).
Forex Trading & London Time: The London forex session runs from 8 AM to 5 PM local time.
- During GMT (Winter, UTC +0): 8 AM – 5 PM UTC
- During BST (Summer, UTC +1): 9 AM – 6 PM UTC
This session overlaps with both the Asian close and the New York open, making it one of the most liquid and volatile trading periods. Since London is a major forex trading hub, knowing these shifts is crucial for timing my trades efficiently.
Forex Session Timings in Table Format.
GMT – Greenwich Mean Time.
Set (UTC) London on TradingView and use the London GMT Table because the season period is from late October to late March (Winter).
| Session | London – local time | Indian time UTC+5:30 |
| London Session | 8am – 5pm | 1:30pm – 10:30pm |
| New York Session | 12pm – 9pm | 5:30pm – 2:30am |
| Asian Session | 11pm – 8am | 4:30am – 1:30pm |
BST – British Summer Time.
Set (UTC+1) Amsterdam on TradingView because there is no UTC+1 London option and Amsterdam is very near to London on the world map. The BST season period is from from late March to late October (Summer).
| Session | London – local time | Indian time UTC+5:30 |
| London Session | 9am – 6pm | 1:30pm – 10:30pm |
| New York Session | 1pm – 10pm | 5:30pm – 2:30am |
| Asian Session | 12am – 9am | 4:30am – 1:30pm |
Helpful Link for forex timing: Babypips Forex Market Time Zone Converter.
Point 1: Set TradingView Time Zone to London. Set GMT or BST according to the season period. ✔
Best time to trade to forex pairs.
The best time to trade is through London & New York sessions, the crossover of both sessions from 12pm – 5pm GMT and 1pm – 6pm BST has the highest volatility before the market begins winding down.
Asia session can provide some fresh volatility for the market and even reversals for some pairs. LDN/NY will be the major trading session for movements though.
Point 2: The best trade time is 12pm – 5pm GMT and 1pm – 6pm BST (London/New York overlap). But I should be ready from London session. ✔
Important Market Terminology.
- PIPS: Pips are how we measure changes in currency values.
- LONG: “Long” trades are BUY trades. So if we go “long” we are buying a currency.
- SHORT: “Short” trades are SELL trades. So if we go “short” we are selling a currency.
- VOLUME: Market trading activity – the amount of active trades in a market.
- LIQUIDITY: “Orders”. How many buyers or sellers are in a market.
- RETRACEMENT: A “pullback” in the overall trend in a market.
- AOI (Area of Interest): A broader zone where price may react, such as a supply/demand zone, support/resistance area, or trendline region. Traders monitor AOIs for potential trade setups.
- POI (Point of Interest): A specific price level within an AOI where traders expect a strong reaction, such as a key order block, imbalance zone, Fibonacci retracement level, or liquidity grab.
- OB (Order Block): The last bullish/bearish candle before a strong move, indicating institutional interest.
- Fair Value Gap (FVG): FVG is an imbalance in price action where the market moves aggressively in one direction, leaving a gap between candles. It indicates areas where liquidity is low and price may later revisit to “fill” the imbalance.
- CONFLUENCE: A reason to enter a trade. We need multiple confluences to enter a trade.
- BIAS: “BIAS” in trading is the directional expectation of price movement, guiding whether to look for buy or sell opportunities. A bullish bias means looking for buys, a bearish bias means looking for sells, and a neutral bias indicates no clear direction.
Point 3: I should focus on PIPS, LIQUIDITY, AOI, POI, OB, FVG, CONFLUENCE and BIAS. ✔
Trading Styles: Short Term & Long Term.
- Scalp Traders: Scalpers look to enter & exit very quickly, sometimes for under one minute to take tiny profits multiple times in a day.
- Day Traders: Traders who enter & exit a position within the same day. Day traders will generally hold trades for 1 hour up to 12 hours.
- Swing Traders: Swing traders are slightly longer term and will generally look to hold trades for 1 day up to 2 weeks.
- Positional Traders: Positional traders are essentially currency investors and will look to hold their trades for 1 month & above.
Point 4: I prefer Swing and Day traders style now because I want to focus on higher time frame and long point moves. ✔
Trade and manage my kingdom like a Chess Master.
Trading is like an intense chess battle. Psychology dictates the attack, risk management guards your territory, and money management protects your king (my capital).
Risk-Reward and Money Management Psychology.
Trading psychology is the cornerstone of success in financial markets. It determines a trader’s success or failure. Discipline and emotional control are essential to maintaining a strong psychological mindset.
Mechanical Risk Management: The set processes to strictly follow for each trade.
- Setting the correct position size on every trade.
- Setting up a stop-loss order every time.
- Following a Risk vs Reward approach every time.
Trader Mindset Psychology to accept: I cannot win every trade, I must follow risk-reward rules to win long run.
Important Note: Remember to use a 1:3 RR or higher. It is mathematically proven that, in the long run, it increases profitability and protects capital. Stick to one risk-reward ratio, either commit to it or don’t trade at all.
- Only risk 2% of the capital per trade and stick to it. Use Myfxbook Position Size Calculator.
- Use a risk-reward ratio of at least 1:3 and remain consistent with it.
- Once the risk-reward is set and the trade is entered, it should not be altered.
- Only Trail SL to breakeven if price moves above 1:2 RR to protect past profits for good. Don’t ever touch Entry or Target.
- Focus on protecting your capital because opportunities are endless, but capital is not.
Point 5: Risk 2% of capital per trade, calculate position sizing, use 1:3RR, and only trail stop-loss to breakeven when price crosses 1:2RR. Always stick to it, no matter what. ✔
Master Trade Entry Method.
There are three types of trade entry methods: Market Execution, Buy/Sell Limit, and Buy/Sell Stop.
1️⃣ Market Execution – Instant entry at the current price. Used when you want to enter immediately but may experience slippage.
2️⃣ Buy/Sell Limit – Pending order placed at a better price. Buy Limit is set below the current price, and Sell Limit is set above. Used for trading pullbacks at key levels.
3️⃣ Buy/Sell Stop – Pending order placed to catch breakouts. Buy Stop is set above the current price, and Sell Stop is set below. Used when waiting for price confirmation before entry.
What is my experience with all three types based on my trading style and mindset earlier?
- Market Execution – I might fall back into a scalping mindset and overtrade.
- Buy/Sell Limit – I feel like I might miss trades, triggering FOMO.
- Buy/Sell Stop – I haven’t used this confirmation method yet.
My Trade Entry Style:
- If I have to choose two methods, I would prefer: Market Execution and Buy/Sell Limit.
- If I have to choose only one method, I would prefer: Buy/Sell Limit.
Point 6: I will use both Market Execution (enter and stay quiet) and Buy/Sell Limit (set and forget). There are no hard and fast rules here, it will take time to test all three methods to see which works best for me. ✔
Risk Parameters & Return on Capital: Trading Plan for Discipline vs Greed.
To understand my risk parameters, I must strictly follow the rules below:
I will risk ‘X%’ per trade (For Every Trade).
- I will use the Myfxbook position sizing calculator to calculate the remaining chances before my account gets blown.
- Example: I have 10000 USD, 2% risk per trade.
- Then 2% of 10000 USD = 200 USD.
- So chances left: 10000 / 200 = 50 times.
Here, I have 50 opportunities to trade before my account gets blown. However, my skills are not that bad. So, calculate it this way and also understand my account size much better, when trading with 2% risk per trade.
If I lose ‘X%’ I will pause trading for the day/week.
If I lose X%, the best approach is to:
- Pause Trading – Step away for the day or week to prevent revenge trading.
- Review Trades – Analyze what went wrong and identify mistakes.
- Refine Strategy – Adjust risk management, entry/exit rules if needed.
- Regain Control – Reset your mindset before re-entering the market.
So my maximum chance to trade per day is two. (I will follow very strictly no matter what.) Remember, discipline is key: first protect capital because opportunities are endless.
If I make ‘X%’ I will pause trading for the day/week.
If I make X%, the best approach is to stop trading for certain time period. Let’s understand this using an example below:
Best Golden Tip: How to Become consistently profitable trader? To become a consistently profitable trader, I need to set achievable targets. Ok simple and clear.
Example in terms of achievable profit percentage:
- DAILY: 1%
- WEEKLY: 3% ~ 5%
- MONTHLY: 10% ~ 20%
Example 1: If I trade on Monday and make a 3% profit, then Tuesday, Wednesday, and Thursday will be my trading holidays. Because according to 1% per day, 3% is already booked.
Example 2: If I trade on Friday and make a 5% profit, then according to 1% per day, 5% is 5 Days. So, next week Monday, Tuesday, Wednesday, Thursday and Friday will be my trading holidays.
Example 3: If I book a 10% to 20% profit in a single trade on any day, my entire monthly target is achieved, and I will stay out of the markets.
Point 7: I will pause the trading after the loss or profit according to risk parameters rules. That is Daily 1%, Weekly 3%~5% and Monthly 10%~20% rule.
MORAL: Trading daily is risky and a bad habit. The market typically provides one or two strong moves per week, meaning only 1 or 2 days will offer good rewards, while the remaining days may not. So, don’t expect big moves every day. (Reality of the Market)
Closing Comment.
I have experienced both my biggest profits and biggest losses in a single trades. Now, I have to work on the biggest losing trades.
If trading is 80% psychology and 20% trading. Then I have 5 years of trading experience, that means 20% trading. So, now I need to 80% psychology which will be 20years….Oh my god.
I will continue working on psychology alongside trading. It’s challenging, but I will progress slowly, just 1% daily is enough. Keeping it small and manageable.
