Trading Psychology Podcast Ep73: Does This Crap Even Work?

One year ago, Robb Reinhold began an experiment on full display in front of the whole trading world. What would happen if you just chose positions at random, and then just stayed out of the decision-making process after that? In other words, what if you just avoided everything we told you to avoid on this podcast, and did nothing else? The results.....should not surprise you.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.

[@Evanarthursm3]

Just wanted to mention how much I appreciate these episodes. I unlearned two years of "Knowledge" and put myself on the full commit to approaching trading properly. Your principles along with coming up with a great strategy changed my results from ok to 78% win rate and a 2.38 profit factor as of today. Thank you guys for your contributions to the community.

[@mavericktrading]

Love to hear this!!!! Stay consistent

[@maisysworld5855]

It’s going to take so much time to perfect being imperfect but I’m ready for it

[@lucasliveface3474]

I’m 19 and starting to finally click with this trading this I’ve been funded twice with no payouts yet and I feel like I got everything down but patience your podcast and really helped me thank you

[@maisysworld5855]

You’re in the best possible position right now

[@RakeshPipG]

Thank you rob, You have inspired me to start a system that trades based on the alignment and constellations of the stars. Entry is useless, and i double down on my search for exit indicators.

[@zayedshahriar3588]

Thanks Robb. It was an amazing journey with Flat earth trading society. The greatest accomplishment for me was removal of anxiety (whether the system work) replaced by consistency and focus on money management. Hats off for your great work.

[@hai.1820]

The whole podcast is a gem, thanks VP and Robb!

[@mikescarborough9196]

What I’m so grateful for is that this Flat Earth series got me to totally buy into the concept that trading is not about the entry system, it’s all about position management. I totally believe in my entries now because I know they’re not the most important thing. In other words, I know my entry system isn’t perfect and I couldn’t give two fucks less. I focus on trade management because the exits are where you make your money. Oh, and it’s working: I got funded ($100K).

[@NoNonsenseForex]

Approaching god status

[@ChocPuma]

F%#&ing amazing work , both of you thank you so much for the time , effort an work you both put into creating such constructive content for other participants in the realm of trading.

[@Quants36]

Appreciate you bringing the flat earth to us rob, now I’ve got somewhere to send people when they don’t believe me lol. and appreciate you broadcasting VP always :)

[@mavericktrading]

Thanks! I'm happy it is now out there for all new, intermediate and old traders to see and to be remembered that consistency beats intelligence in trading

[@peterndegwa2844]

Thank God I deleted everything about forex from my mind that I had learnt before I met VP.My mind in now installed with great ideas and skills.Doing it the no nonsense way.

[@dougkenline1615]

listening in Reston, Virginia

[@CrisAlvarado-g1x]

How about turn of the month? Buy on the 25 close on the 3 day of the new month? Steady chart

[@VilkasDe]

Consistency beats the talent.

[@sevyusevs2008]

Rob the eye opener

[@lazysultan2223]

I just from a winning streak and I was contemplating on increasing my position size😅. Guess I will just stick to 1%

[@mavericktrading]

Good job slapping your own hand! It means you are becoming self-aware

[@Jjsaint007]

Awesome one, thanks alot

[@CrisAlvarado-g1x]

Don’t skip December, is call the “Santa Effect”

[@caladox4643]

Thank you VP and Robb for the video. My question is if the Flat Earth Society method works well in forex trading. (2 atr trailing stop)

[@NoNonsenseForex]

Should work just about anywhere

[@RkMeraly]

Hello , I really love all the podcast and I want to help some trader in our country but most of them don't speak english so I ask your permission to make some kind of plagiat of the podcast in malagasy speach please!

[@CountTrader]

Hey fellas, I’m a big fan of the podcast. I’m a profitable trader, but my system requires higher timeframe charts (4hr+) and I’d really like to trade higher frequency intraday. My system is based on Elliott Wave, which I know you guys aren’t a fan of. I’m an absolute expert on EW and I only trade a very specific part of a wave count. It’s a part of the wave count where both bearish and bullish scenarios have a move in the same direction. My win rate is over 80%, but I only get a setup once or twice a week. I’d be happy to share the system with you guys if you’re interested. But I’m curious what you guys think about me having 2 totally different systems for trading different timeframes? EW on say daily charts and something else for low timeframes. A problem I’m having is I can’t help but see a wave count when I’m on a 5 minute chart (even subconsciously) and EW is not effective on low timeframes. So it’s negatively effecting me developing a new low timeframe system.

[@NoNonsenseForex]

If you have 2 systems run them both and go with the winner over time. As for your EW issue, I have no idea

[@CountTrader]

@@NoNonsenseForex I appreciate the reply! I suppose gaining confidence in a low timeframe system would help me eventually ignore any potential Elliott Wave count. I’ve been using EW for over 4 years now so it’s hard to not see a count even on a naked chart.

[@OlivierMutombu]

been waiting for the upload

[@juniornxumalo3225]

you closed your trades , but did you remeber to close your interaction with the demons ?? it might be worse if you didn't TT

[@mavericktrading]

Very true. Throw out your trading baggage

[@KyleBaran90]

As it turns out, I'm worse than a Ouija Board 27:30 - The tickers were random, but the entry logic was consistent (trade with the trend). If the markets were choppy in January, there was no trend, and a lot of false signals

[@KyleBaran90]

I think I've said it before, but I've been trading with $100-200 in my forex account ... which means two 0.01 volume legs are going to up like 6-10% of my account size, especially as my losses mount. Not good. I think I've put like $450 or $550 into it over two years, and currently have a balance of like $60. That's like an 80% drawdown, my account history looks like a goddamn junior mining stock, lol

[@NoNonsenseForex]

SMH

[@KyleBaran90]

@@NoNonsenseForex I know, right? I suppose I'm not taking it as seriously as I want to be. In any case, I'd rather piss away my money $10 at a time rather than $100 at a time I set my entries based on my signals, TP on one leg at 1x ATR, SL at 1.618x, let the winners run, do a trailing stop whenever it starts to win... maybe I need to tweak my signals to have a better trend confirmation. Wouldn't hurt to forward test next time

[@benjipena]

@NoNonsenseForex Love your content. Which pips calculator is best? Especially for pairs such as MXN and SEK.

[@keosignitedigital]

interesting

[@Kdom_Wealth]

You have to be mad to be a trader

[@NoNonsenseForex]

Guilty

[@darainali9104]

first comment is mine

[@mahdirana8791]

last 6 year almost every technic and every math i tried but still no result sir