May be so. I actually left the default setting from the broker and it works for me. In that case I use a way more sensible leverage
I think having a trade for around a day is more than long enough. You need to then decide how much you want to risk vs reward for that movement in time and it has to be based on prior observation. For example, I am not saying, you have a trade that lasts an entire day. I am saying a trade for example will start and finish within a day. It could last for 1 hour, it could last for 30 min, it could last for 4 hours. Your stop needs to be based on what price would the market indicate that you were incorrect in your decision, while the target would be for example where you think the trend will take you within your time frame. If you are trading longer than a day, then you need to see for your profitable trades, what you are doing right, then switch to a lower time frame and use the same way you traded in the higher time frame. This means if you have an edge, you will start to generate a higher rate of return per month. Once you prove you are able to be achieve some type of consistency, only then increase your leverage. The trade I did today had a perfect setup, and good stop, but my target was not set to a better location based on the chart, instead I took a standard scalping profit instead of making more money. So my mistake was not trusting the analysis of the chart. I wanted to be right more than I wanted to make money. Also, my other problem in wanting to be right is when I take a losing trade, I want to make it back by over trading, instead of waiting for the next day to make an unemotional analysis of the chart.