Virtual Memory and the Page File?

Well I'm all about optimising my pc for gaming i have perfectdisk Advanced System Care and Leatrix Latency fix. I have 12gigs of Physical Ram and 18417 Virtual memory set at the minimum and maximum. However I would like to know if it is even neccesary for me to have this Virtual Ram. I heard having alot of Virtual Ram can actually slow down your pc. So If i were to set it at the bare minimum of 16mb for minimum and maximum would my pc still be able to play my games, and would i see increased performance.