There's plenty of information out there about money management and how you go about it is your business. I'll talk a little bit about the theory of mine, spread and commission in relationship to MM to the best of my knowledge. Maybe others can add their view or correct me if I make any presumptions or miss calculations.
The plan is relatively simple. Place one trade a day risking 2% for a 1 to 1 risk/return and hit a 60% win rate you increase your balance by 2% each week. That's just over 100% a year return. Do that for many many years.
OK. So we know it doesn't quite work that way in the real world but it's a pretty good formula to work from. First part of this plan is risk. I use 2%. That's aggressive but still conservative. How you assign risk is your business. At 2% over a 4 week cycle if I struck out bad and lost all 20 trades I can only blow 33% of my account and that's the maximum risk I want to be exposed to in this cycle. If I trade with 5% risk that figure grows to 64% and that's massive unsustainable drawdown. On the upside 20 wins in a row at 2% represents account growth of 49% up to a massive 165% at 5%. Again they are only figures but they do act as a guide to what risk you are comfortable applying and the price you could pay.
The 1 to 1 return. My standard formula is SL set at 10 pips TP at the same. I need a pretty good reason to deviate from this and there is no better formula to use. When I talk about spread and commission you see why. When first trying out this methodology I suggest you just use these levels and never ever deviate. It will help in the learning process and quickly get the win rate up.
The final piece is that critical 60% win rate. 3 out of 5 trades each week must be winners. This is not that hard a win rate to achieve when you understand the concept that you only have to take one trade each day. So be patience and wait. That right one will show itself if you just let the market trade and watch what it is she's doing and then act accordingly.
And finally, do it again and again and again. Trading forex is not the get rich scheme marketers would have you believe. In my opinion you are only going to succeed (used loosely) at this game if you plan to do it for at least 10 years. And it will only be in those final years that you start to see the rewards for your effort. The effort you have to put in will be greater than anything you have done before. It's just not that easy. Oh, it's also worst than watching grass grow. But we love it.