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FOREX TRADER'S ACTIONABLE REFERENCE GUIDE

TRADING SESSION TIMES (GMT)

Sydney: 22:00 - 07:00Low volatility, AUD pairs active
Tokyo: 00:00 - 09:00JPY pairs, thin liquidity
London: 08:00 - 17:00Highest volume, EUR/GBP pairs
New York: 13:00 - 22:00USD pairs, major news releases

RISK MANAGEMENT RULES

  • ✓ Risk 1-2% per trade maximum
  • Never risk more than you can afford to lose
  • ✓ Risk:Reward minimum 1:2
  • Target at least 2x your stop loss distance
  • ✓ Max 3-5 open positions
  • Avoid over-exposure and correlation risk
  • ✗ Never average down losers

MAJOR PAIRS CHARACTERISTICS

  • EUR/USD Lowest spreads, best for beginners
  • GBP/USD Higher volatility, London session
  • USD/JPY Safe haven, Tokyo/NY overlap
  • AUD/USD Commodity currency, Sydney open
  • USD/CAD Oil correlation, North America
  • EUR/GBP Cross pair, London session only

HIGH IMPACT NEWS

  • ⚠ NFP (Non-Farm Payrolls)
  • 1st Friday monthly, 13:30 GMT
  • ⚠ FOMC Rate Decisions
  • 8 times yearly, avoid trading
  • ⚠ GDP & CPI Releases
  • Major volatility spikes expected
  • 📅 Check calendar daily!
  • forexfactory.com | myfxbook.com

PRE-TRADE SETUP CHECKLIST

1. Trend Identification
□ HTF (H4/D1) trend direction confirmed
□ Price above/below key moving averages
2. Support/Resistance Levels
□ Key S/R zones identified and marked
□ Previous swing highs/lows respected
3. Entry Confirmation
□ Candlestick pattern confirmed (pin bar, engulfing)
□ Volume/momentum indicator alignment
4. Risk Parameters Set
□ Stop loss placed at logical level
□ Position size calculated (1-2% risk)

TECHNICAL INDICATORS

Common Indicators:
  • • Moving Averages (20/50/200 EMA)
  • • RSI (>70 overbought, <30 oversold)
  • • MACD (trend & momentum)
  • • Fibonacci levels (38.2%, 50%, 61.8%)
⚠ Important Note on Indicators

Technical indicators are inherently subjective and lack consistency. We teach aspiring traders to move beyond these limitations by implementing quantitative systems like ARGOS, which deliver systematic, repeatable results.

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COMMON MISTAKES TO AVOID

  • ✗ Overtrading
    Quality over quantity - wait for A+ setups
  • ✗ Revenge Trading
    Never chase losses - take a break after losses
  • ✗ Moving Stop Loss
    Set and forget - widening SL = death spiral
  • ✗ Ignoring the Trend
    "The trend is your friend" - don't fight it
  • ✗ No Trading Plan
    Plan the trade, trade the plan - no exceptions

POSITION SIZE CALCULATOR

Formula: Position Size = (Account × Risk %) ÷ (Stop Loss in Pips × Pip Value)

Example: $10,000 account, 2% risk, 50 pip SL on EUR/USD
= ($10,000 × 0.02) ÷ (50 × $10) = $200 ÷ $500 = 0.4 lots (40,000 units)

*Pip value varies by pair and lot size - use broker calculator or myfxbook.com

TRADING PSYCHOLOGY REMINDERS

Discipline beats intelligence
Stick to your rules even when it's uncomfortable
Journal every trade
Track what works and what doesn't
Accept losses as part of the game
No strategy wins 100% - focus on long-term edge
Take breaks when needed
Clear mind = better decisions

DAILY TRADING ROUTINE

MORNING (Pre-Market)
  • □ Check economic calendar
  • □ Review overnight price action
  • □ Mark key S/R levels
DURING SESSION
  • □ Execute planned setups only
  • □ Manage open positions
  • □ Avoid impulsive trades
EVENING (Post-Market)
  • □ Journal all trades taken
  • □ Review what worked/didn't
  • □ Plan tomorrow's trades
WEEKEND REVIEW
  • □ Analyze weekly performance
  • □ Update trading plan if needed
  • □ Study charts & patterns

Consistency and discipline compound over time. Trade smart, not hard. - TradeHive

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RISK DISCLAIMER: Trading foreign exchange carries high risk and may not be suitable for all investors. High leverage can work against you. Consider your objectives, experience, and risk appetite before trading.

Past performance is not indicative of future results. For educational purposes only. Not financial advice. TradeHive is not liable for trading losses. Consult a licensed financial advisor. © 2025 TradeHive. All rights reserved.