Money Management (when trading) is simple:
Do not expose more than 2 – 3% of your trading on any given trade. So if your trade flops, do not lose more than the 2-3%.
The more difficult part is your trading strategy (regime and discipline). In theory, using the above Money Management strategy, will allow you to never lose all of your trading capital, BUT there will come a time when the money remaining (after many losing trades with little to no winning trades), you cannot physically adhere to the Money Management strategy anymore. So the goal is to balance your preservation strategy for money management with your growth strategy (trading strategy) for wining trades. It is a double-sided ethos.
Example: R100k trading account. Do not risk more than 2% per trade, thus a trade may never incur a loss in excess of R2k. This leaves you with trading a single Mini or 2 x Micro contract(s). Your trading strategy will be better if you allow a couple of 100 points leeway, so now you are left with trading 2 Micro contracts on ALSI (assuming IG) of which you will not risk / incur more than 500 points loss (a healthy margin in current market if you ask me).
If it is not clear, money management (how much and at what risk) is one side of the formula, the other is your actual trading strategy(when, how long and in which direction).
Very good explaination