Money management and tolerance for losses

Forex trading is not always about wins, losses are part of the trading process.
Managing losses on 5 min time frame would be the easiest thing to do. Firstly, because a trader is able to monitor charts all the time, secondly, because losses are usually small due to the nature of 5 minute trading: price ranges are smaller and it is easy to tell when the market starts turning against your position.

Hourly charts have wider price ranges and therefore require wider stops to be placed, and in case of being wrong on a trade, larger losses to be taken.

If to speak about daily charts, losses there if occur are even larger as the market requires wider space to swing the price.

So here you have: smaller profit targets and smaller losses or larger profit targets and larger risks. Making profits with more price action and more trading opportunities, but also a lot of time spent in front of the monitor every day, or making profits with less price action and opportunities and less time spend trading Forex.