Money management/leveraging - varying position size to control risk/enhance profit

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I would like to open a conversation on the topic of money management.

There seems to be a wide variety of algorithms, but generically, the issue
addressed is the criteria of when to and by how much to increase the size of
positions taken.

So, my questions are;
* What approaches to money management have you had a positive experience
with?
* What approaches to money management have you had a negative experience
with?
* What importance to you place on money management?
* Which do you prefer - simple or complex money management strategies?
* Which is more effective - simple or complex money management strategies?

I'm thinking here mostly of managing the size of short-term trades on a
single strategy on a single symbol rather than the more complicated notion
of portfolio management.  However, all thoughts will be gratefully received.

Regards
Ian