A cardinal rule for beginners is never to risk more than 1% to 2% of your account balance on a single trade. If you have $1,000, your risk should be $10 to $20. This allows you to endure a string of losses (a drawdown) without being wiped out.
Spend 2 weeks watching a 4-hour chart of EUR/USD. Draw nothing. Just identify these three bars. Forex For Ambitious Beginners - A Guide To Succ...