One of the key characteristics of successful people who have made a trading fortune is awareness. And when you're trading, there are perils right in front of you. So how do you armor and protect yourself on the journey to trading fortunes?

Begin right where you are, begin right now. Start by getting a clear assessment of where you are right now. If you're going to make some changes, you need to clear the fog and raise your awareness. You need to be aware of those weaknesses that need armor and of those strengths you should build.

Below is a list of mistakes that traders make. Print it out and keep it close at hand when you make your trades so that you keep them in your awareness, ready for review as you make decisions. You'll also want to have it in-hand when you're reviewing your trades, so that you can identify and make corrections when necessary.

Avoid These 39 Mistakes and Make A Trading Fortune

1. Under-estimating what it takes to be successful in trading.

2. Over-estimating your abilities as a trader.

3. Over-estimating your emotional control.

4. Starting off uneducated, and thinking that you can "learn as you go."

5. Ignorance of how trading and the markets actually work.

6. Treating trading like a hobby or sport, rather than as a business.

7. Starting off under-capitalized.

8. Using money that isn't truly risk-capital.

9. Over-confidence.

10. Being in a hurry to make money, to hit the home run.

11. Thinking too short term.

12. Guessing at what the charts and patterns mean, then acting on that guess.

13. Trading without a plan.

14. Having unrealistic expectations for trading.

15. Over trading your account (both in size and frequency).

16. Not defining the trade you're going to take.

17. Not defining the risk/reward for each trade.

18. Not using stops.

19. Wanting to be right rather than to make money.

20. Listening to others (deviating from your methodology or system).

21. Trading the opinion of others (e.g. market direction).

22. Trading hunches.

23. Trading markets you don't understand.

24. Risking money on systems that you don't fully understand.

25. Trading only fundamental news without adequate analysis.

26. Using too many oscillators or indicators.

27. Not paying attention to previous market action, ignoring history.

28. Overspending on computers and software.

29. Trading around the clock (another form of over-trading).

30. Having a fear of losing money.

31. Lack of money management.

32. Thinking that you can 'beat the market' if you just analyze it enough.

33. Assuming that paper trading alone will successfully lead to profitable trading.

34. Using the wrong methodology for your level of expertise or emotional style.

35. Not understanding your own 'emotional style'.

36. Not asking questions to gain understanding when starting out.

37. Changing systems and markets frequently without 'mastering' any of them.

38. Not documenting your trades, or documenting inadequately.

39. Not reviewing trades after the fact to learn from your mistakes

The single most critical step in any developmental process is that of becoming aware. How can you avoid mistakes if you aren't even aware of them? How can you protect yourself if you're not aware of your own vulnerabilities? Start by becoming aware of the mistakes traders make, understand the consequences of these mistakes and then act accordingly and you'll be in the right mindset to make a trading fortune.