Your risk is a function of your position size and the distance from your entry to your stop loss. So you can regulate your risk by adjusting your position sie (as you suggest) or by adjusting where you place your stop loss.
So, if you are trading on the D1 with a 1k account, you will probably find that even with the minimum position size (0.01 lots for most accounts) you have to be careful about how wide you make your stop loss.
Trading on the H1, though, where stops are likely to be much closer, you may well find that you are using a position size of 0.05 lots or so.
Check out the babypips positions size calculator before opening your position to work out what your risk for any given stop/position combo is.