this type of catastrophically bad risk management is rampant among the “No Nonsense Forex” crowd. Every entry is basically a 1.5:1 risk/reward…as in…1.5% potential loss to 1% potential gain. I quit that cult as quickly as I entered it. It’s a fast-track to losing money quickly.
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I’ve watched only 2 or 3 NNF Youtube clips and I found them quite interesting on chart analysis but not revolutionary. The conspiratorial talk of market manipulation etc. put me off a bit, it seems a bit immature.
What are NNF’s main problems?
The #1 problem I have with it, and this is enough to completely invalidate the whole philosophy IMO, is the terrible risk management. You set a stop loss at 1.5 x ATR and a take profit at 1 x ATR. So your risk is always more than the 1st take profit.
There’s other issues, but the risk management is the big one.
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This strategy sounds like it is a ATM machine for the broker 
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Exactly. They probably sponsored the video.
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US30 on the 1 hour chart is insane. I would not trade it nothing greater than the 5 minute chart.
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Reminds me of systems like martingale that are strictly mechanical without any regard to market conditions. Some traders use grid trading in a similar way. In one Udemy course, the instruction promotes 100 pip (stop loss and take profit) for daily trading with the rule if triggers take profit then open another trade in the same direction with same settings otherwise if stopped out and take a reverse trade with same settings.
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Martingale is literally a gambling technique. Need we say more…
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Well, you know, those Youtube trading experts xD
I saw so many of them and almost no one was worthy of following in any way, shape or form.
Plus this whole concept of taking other people’s strategies hoping they will work is somewhat questionable for me. We are all different people with our own personality traits and what works for me doesn’t necessarily work for somebody else.
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I think you’re only partly right. There are only two strategies - buy because price has been rising, or buy because price has been falling. Both the strategies work: but traders mostly mis-use them. Its unrealistic to imagine that 1000 traders need 1000 strategies, all different, to make money.
So personality plays a big part. Strategies don’t screw up trading, we do.
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Hello Guys,
There is one thing no one mentioned yet.
STATISTICS !!!
So far I developed a strategy on 2 commodities where I don’t care about any rules but one. How often something repeats.
In his video I would check first for at least 2 years back how often it repeats and on average how much pips you can take/lose.
It might have a lot of sense !
If let say it really repeats 70%-80% !?! - on specific days or hours, etc.
Any one checked ?
Maybe the risk he proposes is to high. It requires very deep analisys. Maybe he should trade only on Mondays, etc.
Do you understand ?
The 2 commodities I mentioned above.
So far I found 2. It is specific time frame and trading hours and trading day. Very specific rules to enter and to exit.
For last 2 years it brought me profit - 5 months of losses and 19 of profit.
In this strategy I don’t care what is happening in media or the principal of analisis, e.t.c. In this case I don’t even give a damn about any indicator. Just pure statistics !
So I end up buying bots - one for each commodity.
But I am only risk 5% of my account.
It takes a lot, a lot and onec again a lot of time to find and process all available data.
I encourage to try !
I have to disagree with you. His strategy as proposed has little to no merit. He is using a previous day’s candle as an indicator and it’s a candle that is printed outside of the normal trading hours of the NYSE.
I checked the statistics that matter the most. His proposed SL and TP requires an 80% win rate just to break even and 1 loss will wipe out 4 wins.
I wouldn’t bother trying to ice skate uphill when there are provably better and less risky ways to trade.
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You are 100% right what he says has no sense - this particular setup.
What I am trying to show all of you is to aproche it differently. It might work on 5min frame on Tokio session on Tuesdays only or anything else. But the most chances are it won’t work at all.
@MartialChartsFX if you don’t like it just don’t bother, don’t demotivate others to explore different ways to trade.
Just think outside the box 
@MartialChartsFX all the best for you !
This isn’t trading, this is gambling on a single candle. I did my part to warn others about the inherent problems with this strategy.
Are there any worth following at all?
These are some of the channels that I subscribe to or have found useful:
Smart Risk - SMC
RockzFX Academy - Price Action focused on Break & Retest. Has a free Break & Retest strategy.
Iliya Sivkov - Trading Fanatic - SMC
TRADiNG hub - SMC
FXFUNDINGMATE - SMC
Doyle Exchange - Supply and Demand. Has a free Fibonacci strategy in his old videos.
Julian (A Trader’s Journey) - He has a decent rules based strategy here: https://www.youtube.com/watch?v=2wDACgC-ACc (Part 1)
https://www.youtube.com/watch?v=IyBYtZSJkRg (Part 2)
The Secret Mindset - SMC, Supply & Demand, Price Action, Indicators. I’m still trying to figure out their focus, but they have something for everyone.
Best of all, none of these traders recommend taking trades with a negative RR.
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