It depends whom you ask.
The general rule amongst forum members might be 1.0-2.0%.
Remember that 90-95% of forex traders are losing money.
If you asked only those among the 5-10% making money, the answer would be more like 0.25-1.0% instead, and this is really worth knowing.
Exactly right.
You’d know from your original decision about your risk management for your trading, and work out from the chart or from your trading plan what your stop-loss needs to be, and then calculate the position size AFTER knowing that, and your maximum permissible financial loss per trade. In other words, you’d avoid increasing that risk simply by reducing the position size.
Again, be careful not to ask this and take the consensus of opinion as being “right” and never forget that in forums, 90-95% of the people answering your questions are losing money.
I apply stops according to the chart, putting the stop where I want to be taken out of the trade if it doesn’t look like being a profitable one. If I’m not able to decide that clearly, before entering the trade, I give that trade a miss.
My own risk management percentages vary according to the type of trade it is, but my highest ones (the ones with the highest win-rate) are something under 1%. And my lower ones are something further under 1%.
With a £950 account, the main aim isn’t to make income that means much or affects your life - it’s to gain experience and practice.
Maybe.
Those, or maybe even 1 week, 1 day and 4 hour.
You’ve asked several different questions here which relate to rather different aspects of trading.
This other thread mentions a couple of them and might help you. How Realistic is This?
It would be a really good idea (at least!) to practice all this money management stuff on a demo account for many months, until you have it all absolutely down pat and perfect, so that it’s not a distraction, before using real money.