looks like the recent addition of another volatility breakout system have increased the risk. You said the risk was going to be split between the 2 vol BO systems but clearly the opposite has happened....
I think what was meant is that the same risk (i.e. position size) will instead of being allocated to one breakout strategy, will be split between two different ones that open positions at the same time. From what I have been told, one strategy has a set SL, while the other has a higher TP with a more dynamic SL dependent on market activity.
July's poor performance definitely came down to some insane volatility where the price pitched massively up and down in a very short period of time due to mixed, high impact US economic data.
This EA is very much long term orientated, but I can understand your discouragement if you have nothing to show after seven months.