Hi I am a freshie on trading specifically forex. How long should I keep a position? e.g. I have a position on jpyusd and the swap and profit is -16000usd. should inhave closed this or how do i move forward
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The simple answer is to always use the chart to identify a price level at which price is more probably going to go against your position rather than with your position. Do this while you are planning the trade and set the stop-loss as soon as you open the trade (or set the entry order) so that the position will close immediately this level is reached. Make sure that your capital loss is not a high percentage of your account total - many people say 2%.
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Apply the pivot points indicator and take profit at either r2 or r3
what is R2 or R3?
in other words I have a loss on my position? how do i identify how much one volume is of a forex?
im so stressed at the moment as i feel i will loose the 16grand.
Trade with strict stoploss
Backtest your strategy first then start trade
Your pivot pints indicator will say r2 or r3 on it , just apply the pivot points indicator to your chart , or if your stressed just take profit 
The dynamics of setting a takeprofit level vary from trade to trade. You can take partial profits after price has moved the distance of your risk, or consider closing after it has moved twice your risk in your favour. Even better, hold the trade until price shows intention to reverse (different from retracement).
What price level was your entry? Date & time?
What % of your trading capital is the $16k of drawdown?
If you’re sitting on a $16,000 loss with your USD/JPY trade, it might be worth looking at your strategy and the market—if things aren’t looking good, closing the position could help you avoid more losses.