Your broker will even make money when you lose. That is why he encourages you to trade as much as possible. He knows that most people will lose money. That is just a numbers game. If most traders would make money, he would soon be out of business. You can do strategy tests and trade on a demo account for a few months to find out what works for you. People fall prey for so called heuristics. That is a synonym for abbreviations and making conclusions. Did you know that I never made any profits? As a non automation trader, I think the major reason is that I thought that it is all common sense. Think of a sailboat. What do you need to get to your destination harbor?
For traders, the changing price is like that wind. The price can go into three directions. It can go up, it can go down, and it can move sideways. Do you think that back tests and demo accounts are a waste of time? In that case, your ego might be too big. So just decide what you are going to choose, measure and compare against each other. Sometimes it is hard to find the right risk setting for an algorithmic trading system. Common sense doesn’t help anything. I had to find out that actually a lot of the stuff that is taught doesn’t work. Whenever you want to get up in the middle of the night to check your account, that is a good sign that your account size is too big. Strategies are an attempt to find a market advantage to increase the profits and avoid the losses. From my experience, you need to find something that will work at least as good to justify your investment.
A forex earthquake happens maybe once or twice a year, but it is always unexpected and dangerous. I have had a broker that canceled the account type I traded, and that broker told me that he would close all my open orders within 14 days. No prior warning, just a threat. Someday you will find out that profits are not caused by the right entry. So why do you think is a profit possible with almost every entry you can imagine? If it was all about money management, there should be still a way to find out if a special trade entry system can outperform random entries. In my opinion, profits and losses are unavoidable when you trade.
But if you would like to see a $10,000 profit, you also need to accept the fact that a $10,000 loss is possible. Trade entry strategies are the most discussed topic when it comes to trading. In fact, there are people out there that focus on that part alone. Hoping that something will work is not a good strategy. You might drive the same route each day, but you might have different situations depending on the traffic. In the winter, you maybe need more time to reach your destination. If you google the terms deutsche bank, 2015, Swiss Franc, you will find believable sources that say that one of the biggest banks in Germany lost over $100 million.