Nanook,
Number 1 is protection of the bank - without that you've got nothing. If you're in it for the long haul somewhere in the future you'll almsot certainly have a bad run on occasions, your money management strategies need to be able to cope with this.

If you're using some form of progressive staking, it's better IMO to try to shift the percentages in your favour to some degree, not trying to recoup every last dollar from losing bets.

There's much more to be said, it's a huge topic. Learning how to win is only half the battle ... learning how not to lose is the other half. This applies equally to selection process, betting style and money management.