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Forex Q&A

Ep72: A Common Mistake

Forex Q&A

VP

Investing, Business:investing, Business

51.5K Ratings

🗓️ 18 November 2019

⏱️ 18 minutes

🧾️ Download transcript

Summary

Money Management is everything, and you can end up making a crucial mistake here which can cut your profits in half if you're not careful. Putting your trading capital in two different places is smart. Splitting your risk in half as a result is not. We talk all about it here. Blog For This Episode - https://nononsenseforex.com/forex-q-and-a-podcast/dont-split-your-risk/ Leverage Episode - https://nononsenseforex.com/forex-q-and-a-podcast/best-leverage-in-forex/ Discord Link - https://discord.gg/5TEY6h6 Subscribe on iTunes - https://itunes.apple.com/us/podcast/forex-q-a/id1403201709 Follow the Podcast on Spotify - https://open.spotify.com/show/4iTHB9E7Ly2AImBBhlZtV0 Subscribe on Stitcher - http://www.stitcher.com/s?fid=201867&refid=stpr Follow Me On Twitter! - https://twitter.com/This_Is_VP4X

Transcript

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0:00.0

This is the 4X Q&A podcast. This is VP professional 4X prop trader here in the United States answering your

0:06.5

You just submitted 4X trading related questions every Monday morning. Now if you have a 4X trading related question that is on your mind, don't ask me, I don't answer them anymore.

0:15.8

What you should do instead is go to no nonsense 4X on YouTube.

0:18.9

Scan over the videos because chances are your question has already been answered somewhere on that channel, but if it is not,

0:24.8

you go to the No Nonsense 4X Discord Forum.

0:28.1

Link will be provided down below in the show notes and on YouTube as well. So on the no-nonsense 4X YouTube channel we have now introduced, you know, depending on how you look

0:39.2

at it, three to four different markets for you to trade.

0:44.9

And all of them, I suggest you trade them

0:47.6

just a little bit differently

0:49.4

than the ones you had learned before.

0:52.2

So we have 4X, of course course that's what the majority of the

0:54.7

channel is about. Then we have the spot metals market. Then we touched into

0:59.6

oil which is more into those kind of other commodities markets you could also lump it in

1:04.8

with gold and silver because those are commodities as well and then we just

1:09.7

learned last week how to trade indices our way. Now this is a lot to learn in the span of two

1:18.9

years especially because there's a lot of back testing and forward testing and then real life testing still to go for many of you.

1:29.0

So I strongly urge you all to exercise a bit of caution here. I had it a bit easier in the sense to where I really didn't have it easier because I didn't have a channel like this, but I learned all of these at completely separate times and I shouldn't even really say learned.

1:46.5

I just pretty much decided to trade them at different times in my 10 year career.

1:52.1

So there was very little overlap. I have a feeling, however, for many of you,

1:58.0

there might be an overlap going on right now and if you are trying to put your algorithms together and have still yet to really

2:07.0

get into the forward testing stage in Forex for example, it is probably not a good idea as much as you're going to want to.

2:17.4

It's probably not a really good idea to progress into any other markets until you are at the very, very least in the forward testing stage

...

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