How to Journal New York Session Trades

New York Session: The Bridge Between Worlds

New York session is unique. It doesn’t exist in isolation—it’s defined by what London did and how it opens.

Structure:

• 08:00-12:00 EST (12:00-16:00 GMT): London-NY overlap. Highest volume. London still trading; NY entering.
• 12:00-17:00 EST (17:00-22:00 GMT): Late NY. London closed. Lower volume.

Characteristic: Often continuation of London (overlap phase), then reversal or range (late NY).

Opportunity: Catching the overlap momentum or fading extended moves.

Challenge: Volume drops after London closes, which increases spreads and slippage.

Your journal must separate overlap trades from late NY trades because they’re completely different sessions.

The London-NY Overlap (The Hot Phase)

The overlap (08:00-12:00 EST / 12:00-16:00 GMT) is the second-highest-volume period in forex.

Dynamics:

• If London trended up, NY usually opens up or within range. Trend often continues.
• If London ranged, NY usually opens rangy and consolidates.
• High momentum often continues the first 1-2 hours of NY.

Overlap Trading Strategy:

Setup 1: Continue London Trend

London closed trending up at 12:00 EST. NY opens 15 minutes later.

If price gapped up and continues trending, enter the continuation:

• Entry: 30 min into NY, after confirming momentum continues
• Target: Next resistance level (50-100 pips away)
• Stop: Below NY open or London low

Example:

London closes at 1.0950, trending up. NY opens at 1.0965 (15-pip gap up). NY first 30 min: Continues up, breaks 1.0975. Entry: 1.0980 (confirmation of continued momentum). Target: 1.1025 (next resistance). Result: Hits target in 2 hours. +45 pips.

Win rate on London trend continuation: 60-65% Average R: 1.4-1.6R Expectancy: Positive

This is your overlap edge: riding London trends into NY.

Setup 2: Fade London Extended Move

London closed trending strongly (80+ pips range, steep angle). You think it’s extended and NY will reverse.

• Entry: When NY shows reversal signal (lower close, divergence, break below overnight high)
• Target: Back to London opening level (profit-taking by London institutions)
• Stop: Above London high

Example:

London trended up hard, closing at 1.0980 (strong move up 60+ pips). NY opens at 1.0985 (slight gap continuation). NY first hour: Price tries to go higher, struggles, forms a doji. RSI in overbought (> 70). Entry: Short at 1.0975 (reversal candle + divergence). Target: 1.0930 (retracement back to London middle). Result: Price reverses, hits target in 3 hours. +45 pips.

Win rate on London fade: 50-55% (riskier than continuation) Average R: 1.2-1.4R Expectancy: Marginal

These two setups define overlap trading. You either ride momentum or fade extension.

Late New York (The Quiet Phase)

After London closes (12:00 EST / 17:00 GMT), everything changes.

Characteristics:

• Volume drops 40-50%
• Spreads widen (brokers make wider spreads in low-volume conditions)
• Trends are slower and less clear
• Reversals are more common

Late NY Trading Strategy:

Most traders skip late NY entirely. If you trade it:

Setup: Late NY Reversal

After London close, price settles into a new range. You trade range bounces:

• Entry: Late NY high/low breakout with reversal confirmation
• Target: Back to range midpoint
• Stop: Beyond range extreme

Example:

London close at 12:00 EST: EUR/USD at 1.0950. 12:00-14:00 EST (Late NY first 2 hours): Consolidates 1.0940-1.0960 (tight range). 14:15 EST: Price bounces off 1.0940, closes above 1.0952. Entry: Long at 1.0955 (above range breakout). Target: 1.0965 (range middle). Result: Hits target within 1 hour. +10 pips on a tight range.

Win rate: 55-60% (range trades are consistent) Average R: 0.5-0.7R (small winners on late NY) Expectancy: Slightly positive but slow

Comparing Overlap vs. Late NY

After 4 weeks of NY trading (20 sessions):

Phase	# Trades	Win Rate	Avg R	Expectancy	Total Pips
Overlap	24	62%	1.4R	+0.388R	+560 pips
Late NY	16	56%	0.6R	+0.096R	+154 pips

Finding: Overlap is 3.6x more profitable than late NY. Focus on overlap. Skip or trade tight on late NY.

Common NY Trading Mistakes

Mistake 1: Trading late NY expecting trends

Volume is low. You’re expecting a 100-pip breakout. Price breaks, then immediately reverses. You’re whipsawed.

Fix: Only trade late NY ranges (not breakouts). Skip if you’re trend-focused.

Mistake 2: Holding overlap trades into late NY

You enter an overlap continuation trade, it’s winning. You hold for “more pips.” Late NY arrives, volume drops, momentum dies. You give back half gains.

Fix: Take profits in overlap. If holding, tighten your stops before late NY starts.

Mistake 3: Entering after London news (09:30 EST for UK data)

UK releases data at 09:30 EST. Volatility spikes. You’re drawn to the move. You enter. But it’s often a spike, not a trend.

Fix: Avoid trading for 30 min after London data. Wait for new trend direction to establish.

Mistake 4: Not accounting for US data releases

10:00 EST (Fed events), 14:30 EST (Jobs report), 13:30 EST (GDP). Your open trades can move 30+ pips on these. You haven’t hedged or sized.

Fix: Know the data calendar. Close before data, or use very wide stops.

Mistake 5: Assuming all NY sessions are the same

Every Friday NY session is NOT the same. Tuesday might open flat. Friday might gap 30 pips. You haven’t tracked day-of-week patterns.

Fix: Log day-of-week (Monday/Tuesday/Wednesday/Thursday/Friday) separately. Some days might have higher edge than others.

Day-of-Week Patterns in NY

After tracking 20+ NY sessions:

Day	# Sessions	Avg Volatility	Avg Trend	Win Rate
Monday	4	35 pips	Weak	52%
Tuesday	4	60 pips	Strong	64%
Wednesday	4	55 pips	Strong	61%
Thursday	4	50 pips	Medium	58%
Friday	4	45 pips	Medium	55%

Finding: Tuesday/Wednesday have highest volatility and win rate. Monday is weakest. Thursday/Friday are average.

Decision: Trade most aggressively Tuesday-Wednesday. Conservative on Monday. Normal on other days.

Building NY Session Edge

After 50 overlap trades:

“I trade London-NY overlap continuation trades on GBP pairs and EUR/USD. I require London trend (clear higher highs or lower lows, not range). I enter within first 30 min of NY if momentum continues. My edge: 63% win rate, 1.5R average = +0.445R expectancy. I target 40-80 pips per session in overlap. I skip late NY entirely. I take 2-3 overlap trades per session, close all by 12:00 EST. I avoid Monday and trade most aggressively Tuesday-Wednesday. Average +80-120 pips per NY session.”

This is professional NY trading: specific phase focus (overlap only), specific conditions, specific day-of-week patterns.

The Bottom Line

New York session is profitable only if you:

1. Trade the overlap phase (08:00-12:00 EST), not late NY
2. Focus on London trend continuation, not fade attempts (easier edge)
3. Trade only high-volatility days (Tuesday-Wednesday)
4. Know the data calendar and size around it
5. Close all trades by 12:00 EST (London close)

Many traders find London more profitable than NY. Your data will tell you if NY is worth your focus or if you’re better off trading London only.

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PipJournal segments your trades by session and by time of day, showing overlap phase (08:00-12:00 EST) and late NY (12:00-17:00 EST) separately. After 20 NY sessions, you’ll see exactly which phase has your edge and which is costing you money, so you can specialize or skip.