I could only suggest extending the time-frame. I don't day-trade ever but maybe someone else has a more applicable idea.

To decide whether to increase your risk, you should know the answer - a statistical variation will revert to the long-term mean, while improved trading has a new mean and might tolerate greater risk

Once u have decided to be long term trader or short term or scalper. Than from there u narrow down to start chose a time frame.

You should use stop loss to contain the impact.

It is very important to closely monitor the Forex movements to sell your position at a higher price and to buy pairs at an reasonable price.

When it breaks important SMA or EMA levels it is expected to reverse with higher probability, although you are not guaranteed to pick right decision based on this criteria. As you can't be sure by 100% that a trade is yours limit your potential losses but choose R/R ratio when your potential profit exceed losses.