I am willing and actually planning to study the Forex for many years, and no I am not trying to find the Holy Grail. If I was, I would make sure to ask anybody but you.
Around 5%, more if needed. And, in agreement, how much you risk depends on how much money you have in your account. If you have only a $100, you wouldn't really mind risking everything. But, if you had $100,000; you wouldn't want to risk more then ...
Most traders tend to think that by just putting a couple hundred in their account they can somehow make millions in a few months. So I don't think what you did was a rookie mistake. If you have studied and practiced the Forex for years and are ...