Hi Sunsilk,
With strategies and testing there are far fewer possibilities available after the offsetting and FIFO ban and you will need to be careful if you trade as a US resident as these strategies are likely to be partially or even totally disabled. All EAs I used especially grids that had worked well have become useless, so I'm straight manual trading with trendlines to note where violation of price occurs, and I'll start with 1HR TF for the pairs I trade- mostly the 4 majors- but zooming out to 4HR, and greater to see where price levels have been tested before all works together to help give clues about planning trades. Kathy Lien has outstanding books about practical trading concepts and also the T1-T2 trader's equation for taking profits, so that's what I'd recommend learning.
I was doing well enough but it has become noticeably more difficult since this latest phase-in of FIFO rules now interfere with how I can manage my account. I'd say open two accounts if you can and capitalize well enough with the lot sizes you intend to trade so that you don't have to worry about margin calls, and trade demo accounts for as long as it takes for you to understand trading concepts you wish to try and how to recover from bad trades, develop workable expectations for TP, SL and note how the FIFO rules will interfere with how you can close multiple open orders of the same currency pair and how a trailing stop on later orders can close earlier ones at a loss.
In my view a 2.5k balance and 0.1 lots works well and at 1:50 leverage, you will be able to trade a few open orders at a time and between accounts.
It is also good to remember that sitting out can be just as valid a position as any other. I hope this helps- all the best-
