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Guest post from trader Charles King:

There are only a few “guarantees” in trading. They are as follows:

1. You will lose money.
2. You may pick a bottom or a top once or twice, but you won’t hang on through the whipsaws enough to make any decent profit, and your losses will always outweigh your winners.
3. You will ride an emotional roller coaster more intense than when you first hit puberty.
4. You will get excited when you win.
5. You will get pissed when you lose.
6. You will get more pissed and trade worse when you don’t reflect and learn.
7. You’ll cry.
8. You will stop all of that s&*^ just listed.
9. You will be profitable.
10. It will have all been worth it.