A magnetic storage apparatus exploits the inherent characteristics of a magnetoresistive element to improve the performance of a magnetic head employing the element. Variations in element height or element thickness of the magnetoresistive element are considered in the selection of a sense current appropriate to the element size, by measuring the voltage between the terminals of the magnetoresistive head and controlling the sense current so that the output reference voltage approaches a predetermined value. In another embodiment, the sense current is controlled so that the voltage amplitude or a reference amplitude are set to a predetermined value. In both embodiments, a conversion table is preferably used to relate voltage amplitudes with sense currents, whereby an appropriate sense current is selected based upon the voltage amplitude.