I have been trading for over 10 years now and have used that experience (good and bad) to be much more risk aware. I think it is imperative to have a money management plan and to recycle your investment.

I take a medium to long term approach to trading, avoid undue risk and exposure. I am firm believer in that you have to risk some of the account to make money but you don't have to risk all the account, that the rest of the account should be protected.