Don't Split Your Risk (Podcast Episode 72)

[@NoNonsenseForex]

Keep the "Inch wide, mile deep" jokes to yourself. You never know if KZbin understands nuance. We gotta be careful nowadays.

[@janiesj9003]

No idea what you're talking about 😂

[@RixiRooTM]

Just finished the money management playlist! Everything you've said... it all makes a LOT of sense. Thanks VP! Onto the next..

[@Inqolayt]

WoW, I have completed the MM playlist and I'm starting with T.Psychology. Thank you a lot VP, you are the best.

[@yaseenkhaliq]

when did you start looking for your entry and exit indicators ?

[@nehemaialord2653]

The money management playlist alone has made more profitable than I have ever been using a “so so” algorithm

[@heinrichschwindt4546]

Just finished Money Management playlist and absolutely shocking how few other channels discuss this at length, so thank you VP for the amazing content. Starting with T. Psychology can't wait

[@markcompahinay3372]

Money Management playlist ✔ Next Lesson Trading Psychology and TA, but will definitely rewatch these videos to review. Thank you VP 💯

[@mashroorsiddique724]

Best advice EVER ! I have just started forward testing metals , had felt no urgency to rush towards it ; as I was still perfecting my algo for forex .

[@williamstowaway1115]

Just finished the money management playlist took heaps of notes and a lot of it was common sense, but if i hadn't went through the playlist I would of certainly fell for those mistakes. Thanks for the info VP

[@DomainXpansion9]

Completed Psychology and MM Playlist. 🤩🤩👍👍 I needed this soooo much. Taking notes too on the way. Now will start with TA playlist. Thank you VP. 😇😇

[@tedk572]

Was just about to add a comment warning about loss of margin buying power when you split accounts while keeping risk the same, but you already did it for me, Thank You sir. Few things are as depressing and ego-killing than a blown account.

[@incognitoguy5599]

Great advice again VP. I've meticulously back tested 9 pairs now over a 3 year period and so far yielded an annual ROI of 15.03% and that includes the results from the EURUSD. What a great time to be digging deep and making money from money!

[@GiC7]

Thanks VP, to the next play list

[@bhekimanana1266]

VP your voice should have played "The Oracle" on the Matrix man, you answer questions I didn't even know I had yet...

[@johnbautista9209]

Thanks really waiting for this. Have a good day to all.

[@God__Is__True__4__Us]

Makes perfect sense

[@restrelaxrecharge2872]

Thinking about starting a channel called 'Common Sense Forex' and pointing everything back here.

[@stephenher]

@Chris Razzell Where’s your channel at?

[@Erfi1604]

Thank you a lot. Learned so much by this channel..have a good algo..find great high probability setups..and sometimes fail which is ok. My greatest problem is..I´m not patient enough to wait till all ingrediences are correctly put together..but Im working on it. Never found better advices than yours.!!

[@jotrader-3]

So great podcast and videos and I understand only half, because these subtitles no longer work - crap .... but your work is great ... I love that

[@NoNonsenseForex]

Sucks to hear, but as is usually the case, sometimes it takes KZbin a few hours to populate them.

[@jotrader-3]

@@NoNonsenseForex I know, but for some time that does not work anymore, almost not in all your new posts. But in today's case, you posted the post to your No Nonsense website, which was not the case with the other postings. That's great today, because I can translate the whole page. Many many thanks

[@Fogaata]

Could you please write a book or two?

[@NoNonsenseForex]

Possibly

[@mikescarborough9196]

Regarding the discussion at 8:22, I keep thinking that (10% x Portfolio A) + (10% x Portfolio B) + (10% x Portfolio C) equals just 10% x (Portfolios A+B+C) NOT 30% x (Portfolio A+B+C). In other words, if you're getting just 10% return on all your different portfolios, you can't just add up the percentage returns to get a higher number of percentage return. Am I right / wrong? I'm trying to understand what we're talking about.

[@mikescarborough9196]

Okay, now I get it. When all else fails, read the blog. Technically my math is correct, but because I am using the combined total of all portfolios to determine how much to put at risk, I can get a greater than 10% return on each portfolio (all other things being equal) because I am calculating my maximum allowable exposure based on the COMBINED balance of ALL three portfolios. Thanks VP. There is something out there called 'portfolio theory' and I should probably go study it.

[@zubairalim9700]

''inch wide mile deep'' just how i like it lol, but thanks VP i went from blowing demo accounts to now almost doubling it since I've started watching you, which was when you up the big banks video, i subbed straight away, so thanks

[@lucapuzzoli8363]

Very good point VP. Thanks

[@calconnelley]

VP, my man. You are a lifesaver, i’m going to pay you back one day for all these golden gems!

[@trader2.094]

Your advice always makes sense, thank you VP.

[@speed0296]

thanks v.p 4 the advice...😀'embrace the dificult and conquer them..'

[@anabatta7019]

very important >> thanx man

[@rehanrao5]

VP. I can't say anything but Thank You.

[@tjw3000]

Thanks for explaining how to not split your risk across accounts. Never heard that advice before!

[@ultiskyrealestateholdingsl6478]

thanks for the encouraging words. I am dealing with a drawdown and it is very frustrating to deal

[@ArunHDGaming]

VP, would you recommend me putting my profits from my funded account into a personal account to compound?

[@NoNonsenseForex]

I would roll the profits over into the funded account.

[@Bryanx1714]

No Nonsense Forex why's the reason for that if i may ask?

[@NoNonsenseForex]

Makes it easier to advance to the higher tiers in many cases. If your set-up does not adhere to this, then adding them to your personal account would be preferred for diversification purposes.

[@GiC7]

Thanks VP.

[@eleanorbentley3342]

If you are 99% with one market you will be 90% with the rest. The brilliance with this way is , We all know what not to do as we learned wrong before we found VP

[@franfitzpatrick3936]

You referred to a demo trade with a Oanda that disappeared...we actually had 5 live trades on USD/CHF that did too....tried to rectify as it would have netted $400.00 had they not closed it-they attributed to that we must have had an EA that closed it but we did not...they all closed at exactly the same time so we couldn’t have even done it manually..we have been with Oanda since FXCM went belly up in US and hadn’t had that happen before..now over a year later they are still sending us around in circles-really appreciate your advice about not having all money with one broker...so we will be phasing them out and going with IG when they come to AZ as well as Forex.com...thanks for sharing all of your experience

[@patrickcu5148]

I wished find this channel before I'd start fx for real. tnx VP. only 1 one question in this podcast/yt. can you split the risk if you have currency trades in one broker? or 1 fx broker = 1 trade only? im little confuse about the risk vids.. tnx

[@pedroribeiro7594]

Nonsense Forex do u place trades immediately once a new day starts? Or do u wait a couple hours after a new day so u may enter one? I am new to this...I am building my algo...I have my confirmation indicator wich I think its really good. It goes on the chart basically(arrows) and tells me when I should enter but I still havent figured out when the signals actually take place? Immediately after a new day session starts or a couple hours after? What ur experience with it? Btw if u saw that u had a confirmation to go long for example 3 candles before the current one would u still go? Or do u just enter in the "candle confirmation signal"(if the rest of your algo agrees ofc)? Thank u man!

[@amirmukarram1976]

Thanks for the conformation, I was just telling myself this same thing. Because, since I start following you my trading is in the positive.....thanks VP, you are a mentor to a lot of us.

[@jimmyforester8492]

@VP, How often do you rebalance your accounts

[@chaoqana8553]

What broker good for metals

[@nikolaynikolov5704]

Thanks for the amazing video as always VP , I don't know how are you always hiting the nail on the head with this but every time you build me more confidence on whatever market i am getting myself into

[@emiliocarpino2512]

I really enjoy backtesting, but am having trouble finding indicators to backtest. Where is a good place to find indicators?

[@nicolasgomez5207]

Ep 6 podcast go to the blog

[@jorgeng9143]

Why put $10,000 in 2 brokers to diversify broker risk? Why don't we put $10,000 in broker and another $10,000 in bank specifically to house trading capital. Then, trade the risk based on sum of both account? Deposit when margin call, withdraw to reduce broker risk. We can maximize leverage as long as we do margin calculation to prevent margin calls.

[@NoNonsenseForex]

Not a bad idea tbh. There's a chance you may run into margin issues if you have lots of trades on however, since half of your money is no longer in play.

[@jorgeng9143]

​@@NoNonsenseForex Indeed but it is a very simple money management calculation and margin call differs from brokers. Capital in broker minus all potential losses must not exceed margin limit set by broker; margin is a variable depending on your leverage. However, the risk is definitely higher when price spikes.

[@cazkeymekam6427]

You did you explain this really well before. I actually like the money in the bank example best. I don't trust the bank but I trust brokers less. Knowing me if I become successful enough I'll have my money all over the place because I have "trust issues" Meaning I know enough about history to know your money isn't safe unless you have a variety of Fiat's and metals in a fireproof vault.

[@jordanhtrading5583]

The moment VP said the part where if you get 10% ROI on one account and 10% ROI on the other, it's still actually 10% overall, it all clicked.

[@t-reximmaculate0879]

It's time to level up myself this 2022❤️📊💪 ✨just finished money management play list✨

[@jtejeytrejtjtyjtrjtyjtjtyj6293]

pls help I cant see the number by my ATR I use IG at say 14 but not the pip. I want to know how fast ITS moveing like how you did in the atr vid pls help

[@AG-uc6sw]

It makes perfect sense.

[@bazinaustralia2912]

i take a different approach, i use a different system with each broker and use an auto analytics on each. as markets have different phases.

[@janalgos]

When you mention 10% return, are you assuming the use of leverage, or do you mean that we should shoot for a 10% return without leverage?

[@marcpeerson8847]

Of course he means 10% with leverage. With 20x leverage it would be 200% if he meant 10% without margin.

[@janalgos]

@@marcpeerson8847 and here i was looking at my backtesting results with no leverage wondering why I could never get to 10% lol

[@Barion88]

10% return monthly or annually

[@npersan2027]

@@Barion88 annually

[@cazkeymekam6427]

Holy crap I already burned through the money management playlist. Thanks again VP this playlist was so valuable.

[@danielumbar93]

Thanks again VP, been following you since march and tried to rush things and it didnt work right now back to finding C1.

[@janiesj9003]

Makes total sense. One question, though. You trade Forex for a firm, and others on the side I believe. Do you account for your PORTION of your Forex account when calculating risk for the other markets?

[@NoNonsenseForex]

I don't follow

[@janiesj9003]

@@NoNonsenseForex For example, say I put $2k in Maverick. I also invest $3k in metals/oils/CFDs etc. Do I calculate my metals/oils/CFDs risk based on a $5k position or a $3k position? (I remembered you must've earned back that $2k risk deposit after I asked)

[@NoNonsenseForex]

Prop firms are different animals altogether. This video was aimed at pure real money traders.

[@MISNEGRASLINDAS]

That should be obvious! And exactly what I'm doing!

[@KJ-vs9xp]

Forex Money Management playlist - check Great material, learned a lot. Thank you, VP. Moving on - Forex Trading Psychology

[@maed7652]

Thanks VP...been following you since June. Can't believe how you have fixed my messed up mindset about Forex, metals, indices. So very valuable...forward testing now.

[@Carma.Repair]

Amazing I just found your channel and binged though the mm playlist and I feel I'm walking away with a much greater understanding of alot of things I was doing right and wrong and can clearly see what you're saying when back testing, thank you 😘 has opened my eyes to things I'm doing wrong and what I need to do moving forward

[@Mr.Myself]

Does anyone noticed how histogram of podcast image is always on green? Maybe there is a reason why... maybe it is because VP sounds always right backing up his arguments😄👌

[@warren1871]

Thanks VP for the clarification in this podcast! 👍👍👍

[@Toolitgb]

Hey, No Nonsense have you had anyone really take your advise and you can actual have a convo with

[@Toolitgb]

let me know !

[@NoNonsenseForex]

More than a few. nononsenseforex.com/testimonials/

[@nikolaistefanov3829]

but if you dont split your risk , your drowdown formula bicomes drowdown = drowdown1+ drowdown2 ( if your algo is on drowdown on both ) if you slpit it , your drowdown is ( drowdown = drowdown /2 + drowdown/2) so whan i am doing is- i trade 4 and on 2 i split it and on the other 2 i dont so i am able to do less % but with lower drowdown ! make your %up and drowdown good for YOU

[@Thetaquo]

Better still, if you like 1 broker and can't find better, open another account in your bank and put 70% in that as your trading pot, and only have 30% of your total capital in the broker account. That way you're somewhat protected from brokers crashing, and your funds are more accessible for other purposes.

[@juniorjustjunior]

me: huh ??? also me: ooooooh

[@richardr508]

The channel name has Forex in it. I'd stick to the fundamentals and become a professional at that first. I am super happy to say this, but I opened my live account last week and I am doing just fine. Not 100% NNFX way, but without this channel, I would not have been able to make it that far. Although I am 3 months and 13 days in, I have been spending at least 8 hours on learning, backtesting, etc EVERY day. Treat trading like a business and when the time is right, all the hard work will pay off. Don't overtrade and analyze your wins/losses to understand your mistakes and to make your algorithm/understanding of price action better. Don't let emotions take over. If anyone asked me which part has been the hardest in trading, it would be not letting my emotions to affect the trades I take. Market structure is built to mess around with our psychological thinking. Something I would recommend every new trader to read: "Trading in the Zone" by Mark Douglas. Follow the steps NNFX has to offer. No regrets!

[@NoNonsenseForex]

Nice job Richard, but have you done any forward testing yet? You haven't been on this channel very long, and it looks like you're skipping a key step here.

[@richardr508]

@@NoNonsenseForex Hey VP. Thank you for pointing out this very important aspect. The truth is, when building my own algorithm, I have done most of my adjustments during forward testing, not with backtesting the system and I always had this feeling that it has helped me to get to the results I have been looking for way better because I take trading very seriously and when forward testing (with demo account) I sometimes even then felt disturbed like I would be trading with a real account. So it led me to put in a lot more effort to find the best pieces that work seamlessly with each other with just enough lag to determine the current state of a trend, not rushing in too fast. And the good part is that it is a lot easier to find out how well does your algorithm perform thanks to the Discord trading calls chat, where it is easy to compare the results that other group members get compared to mine, having a chat with them and getting, as well as giving the advice needed for better performance. Not to leave you with any misunderstanding, I currently don't live-trade 100% with my NNFX system, because of some very important differences between another trading strategy I use, which helps me to grow my account faster, but also requires more input from me every day (analyzing the charts and actually waiting for the best possible entry, managing the trade in the matter of hours I take the trade, etc) I am very careful when it comes to trading real money. I have lost money gambling and I don't want to experience that again. In best regards, Richard

[@Ammo1013]

I agree with you completely.

[@walidalbabi3261]

Wow amazing , i didn't watch the video yet😑😑

[@dragonfly_1089]

if your risk is 2% what would your reward be?

[@happydays1357]

Just completed the Psychology and MM playlists. Obvious from the comments (lack of) that these aren't your most popular videos. But still choose to complete all of them to set the right foundations, and now looking forward to start on the Technicals playlist. Thank you for sharing your knowledge and insights.

[@leewilliams6058]

👍

[@gatwirig]

💙

[@philnewpower]

This makes sense... Trade your Risk as a 'total trading capital' didn't know this before though 👍🏼 thanks dude x

[@jackielouanne09]

Oh okay. One account = $20,000. 2 brokers trading $10,000 each respectively. It's still $20,000 capital on ONE account. It's still 2% risk of the capital. Got it. 👍

[@pestd9206]

If you make 10% a year from trading I wouldn’t bother, your better of placing that in real estate and earn stress free 😉

[@Barion88]

Pete Stevens True. even with a 1m trading capital, 10% annually is SUPER lol

[@albertsaxen8309]

..right; if have setups in the same currency there you split but like this/here not ..Got ya .. Larry (Williams) won the Robbins World Cup w/ a 10,000% return..still holds the record; obviously, no one can/will beat that; you can’t; he’s said later you win these contests going in w/ crazy risk but he did so inadvertently. Ralph Vince’s optimal f.. They were using the wrong money mngt! Using a superior one now it’s pared down but his daughter repeated the feat - 1,000% - and many have followed suit; his students .. VP and I may have differing opinions at times, on some matters, but (and I go over a lot) haven't seem him say anything inconsistent ..:) *up He's legit guys

[@johnathangrey3463]

All hail VP. LOL.

[@alittledoseofcomedy874]

I respectively do disagree with you sir. If you have mutiple accounts regardless of the reason why you have them multiple, let them be INDEPENDENT from each other. In the example you just gave, that 2% will be 4% in that one account. That will psychologically be stressful. In short what am saying, different accounts should be independent from each other for proper money management that doesnt result into complications. Secondly, you said someone can trade forex, metals, oil and indices. I think thats a recipe for disaster because thats alot. just have one or two pairs and be a specialist in them. Milk them to the fullest. Thats how you make more money. Lastly, 10% per annum is too low. Would rather have my cash in a bank earning similar annual interest then I go get another source of income.

[@davidheaford3671]

URGENT Please advise where I can get 10% interest in a Bank Account - I am definitely interested. At the moment in Australia I am getting less that 2%.

[@dust_d_bin]

I hate the fact that your teachings are ending and are wasting your time and our time with basic commonsense and past material that you've coved already.