Reducing the transaction log file size in MS SQL 2005

In the past, when using MS SQL 2000, it was fairly easy to reduce the file size used by the transaction log. Just backup the transaction log, perform a shrink command and then the file size has dropped to a minimum.In MS SQL 2005 this won't work. If you do so, then the file might be shrinked a bit, but it is not very small yet. To do this you would need to do the shrink command (including