how do I maximize my profit and minimize loss?

Please, don’t invest more but you need to improve your trading skill for better earnings! 1st of all, you have to understand your strong point, such as if you have good knowledge on technical analysis, then spend more time on technical analysis then go for news analysis and others relevant sector of trading, and try to maintain a trading journal!

You have to use higher profit ratio like 1:3, 1:4 even more! It’s not easy job but not impossible! In addition, if you are able to ride a trend in the beginning stage then it would be very possible.

You have to open your trades in the early stage of a trend! Then you can expect a healthy TP position with a small SL. In addition, always try to set your SL below/above the support and resistant levels! Hope this helps you.

I agree. The problem is that a lot of traders don't recognize the early stages of a new trend and think it's a correction of the opposite trend. The fact that there was a reversal usually becomes obvious when it's too late to open new positions.

You need to learn how to scale in. Also you need to know the ADR of the pair your trading... so as an example the current ADR for audusd right now is 56pips per day. If you're in the trade and going your way then hold to the adr.

its a good suggestion you have done , got some information with fine lines , thanks again for your nice post.

I do agree with some of the comments mentioning Stop Loss, this is one of the very good way to minimize the losses while maximizing the profit, but it is easier said than done, so you will need to ensure to take proper understanding in them and strategise as much as you can.

If one is experiencing consecutive losses, then you should spend sometime on the weekend, reviewing your trades and seeing what's not working. See if you need to work on your strategy or plan and take necessary actions. Reviewing is the best way to work on losses i believe.