Here is a method I have learnt of that makes a ton of sense. Most use a a percentage of their portfolio money per trade to manage risk. This way here makes trades consistent and takes the 'too much/too little' effect out of the picture. Set an amount of money that you are willing to lose on each trade. Stick to it and use the formula. Also try to find a pattern setup that you are comfy with and just play that move.
this is great advice. i am long aldx & bought it as my first penny stock at 4.05 along w ontx at .40 so far i havent taken profits on aldx but took 1/2 on ontx to manage risk