I will adjust my lot soze to only risk around 10% of my balance if its a high confidence trade. 5% if its a low confidence trade,
Personally, I don't take "low confidence trades" at all, and the maximum I ever expose to risk at a time is just under 1% (and that's only for the occasional trades of my very highest win-rate method).
I've never yet seen or heard of any system or method that can indefinitely withstand 10% position-sizing without blowing most or all of the account.
Respectfully, Davy, I urge you to read a beginners' book such as Van Tharp's Trade Your Way to Financial Freedom and gaining some perspective on the realities and statistics of position-sizing, before trading with real money. I have no wish to offend you or to sound rude, but the idea of having 5% position-sizing on a "low confidence trade" will make anyone's hair stand on end, if they've been trading for a while ... this is "dreamworld stuff" ...
I think 1 lot at a time is enough for average traders. When you are good in trading you can try more than 1 lot but multiple trades are making confusions for most of the traders. They should open that much lots which they can easily manage.