Stock market seminars often led you to believe that technical analysis was the end-all of successful trading. But if you've learned and followed that kind of advice, you probably didn't last long. You may have had a series of big successes, but without a solid trading plan with clear money management guidelines, a trader is sure to fail.

To simply put it, good money management means:

1) First, it means keeping your per-trade risk to an acceptable number (usually recommended at 1-2%), and 

2) it means only sticking with a system that brings high enough rewards per successful trade multiplied by a high enough percentage of wins to have consistent profitability.

Next, any good stock market trading system needs to include quality technical analysis that provides clear entry and exit signals. The system should be simple enough that you can clearly see the entry and exit signals. And to trade stocks successfully, the system needs to be based enough in reality that you can find profitable trades on a regular basis. If you're not confident in the trading system, you won't stick to it, instead relying on your gut, a sure recipe for disaster. So you need to find a system that works consistently enough that you can implement with confidence.

And finally, even a good stock market trading system is no good if it makes your life miserable. If it's a system that demands 7-10 hours of trading and analysis per day, but you can't stand what you're doing, why bother? Your time is just about the only thing you can never get back. If trading is your passion, then by all means trade stocks full-time. Just be aware of what you want most from life, and make sure you don't sacrifice that. Find a stock market trading system that fits and enables your desired lifestyle.

To be on the right selection track, you will most likely require some trial and error in choosing the stock market trading system that's right for you:

1) Learn all you can at the beginning. Search the Internet, download ebooks, go out and buy some magazines or books in the bookstore, watch videos, etc. Study fast and hard, cramming as much as you can into your brain. Then let it simmer as you think about what's right for you.

2) Join a community. Don't go at it alone. Whether it's a fairly anonymous community like a forum or an online course, or whether you get together with a stock trading club in your area, find others to compare notes and share stories with.

3) And probably most importantly, practice, practice, practice. Test the system to see if it's right for you. Even if you have money to trade stocks without success for a while, test the trading system with a virtual trading platform. Get enough real information to look back on and judge your success. Take the time to analyze and confirm that you have a good system before risking your hard-earned money.

No matter how urgently you need financial success, think about how you'll feel 6 months or several years from now. Will you look back and remember a rushed failure, or will you see the hard work and time you put in at the beginning that now generates increasing wealth for you? You choice is yours.

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