Nice post.
I must agree with most of the tenets...
By the way, its a totally diferent thing trading on a demo account than trading on a live account.
I spent some good time trading on demo accounts, and one day i figured out i was ready to open my live account (i had a good performance on demo accounts, using a mix of discretionary and mechanical trading).
So after searching and trying countless brokers, i i opened my first live account with 25k, and decided to start with Interactive Brokers.
Lost 5k on the first two months, then decided to take a step aside and analise what i was doing wrong. After a month i resumed trading, and in one month lost 2k with my account on 18k...
Again i steped aside from trading for another month and analised everything i did. I looked at my trade statement and revised every trade i did. I wrote a trading plan and put it in front of my pc, so every day i traded i should see it.
When i resumed trading i made my first profits 1k on the first month (i remember this pretty well, one really happy moment), then on the seccond month 2k, and then again 2k or so.

That way i've got back the 7k i lost on the begining, and finally i was overall profitable. The day i got back all my 25k i invited my friend to dinner to celebrate lol.

So i would like to add another tenants.

- Dont trade without a clear and well defined trading plan, and stick to it.
- Dont overtrade! If you lose money, the first thing you'll feel is the need to get it back, but you must control youreself and take your time. Its better to take 1 good trade a day, than to take 10 average trades a day. (Besides spread and commision costs lol).
- If you lose money and on the average lose money, consider steping aside from trading for some time, as long as you feel you need, and take that time to study what you did wrong.
- Be humble. Remember fear and greed are the engine of the markets, if you feel your profit is good, or its too much, then exit the trade. Dont wait for the market to take it back.
- Start with a good broker. Most good brokers dont offer "mini accounts". Do your research. Big brokerage houses are more serious than small brokers.
- Trade for what you have, not for what you could have! Most people trade thinking on what they could buy if they did this or had done that... Remember the best way of wining is not losing =P.


Thats all.

By the way, now im working for a financial company with full brokerage services as a trader, and im still profitable lol.
Cya.