How can all those checklists of a highly successful people operate when a majority of competitors is following them, thus it's potentially harmful. It turns out that the handful of people who make it big is intrinsically deceptive and misleading. 

In that respect is an unusually sharp dichotomy between two sets of assets today. Those who are close to all time peaks and those which are trading at multi years bottom. In order to get into the top of the performance distribution, you have to escape from the crowd. I guess that's the general situation.

1. Capitalism can make things bigger, more ccomplex more destructive and more violent. Their prime directive is to eliminate all accountability. 

If you want to define investment success of being average or better, it must represent results. Only if you strictly define results of being superior, only one criteria, be daring to become different and unconventional. Particularly in terms of allocation and picking assets/ company at the multi year bottom.

2. If you were to believe the mainstream financial media, everything you know is incorrect. This guarantee scarcity of the winner and abundance of the failures/ losers.

If hard work were such a wonderful thing, surely the rich would have kept it entirely to themselves. Almost all financial advisors and the vast majority of analysts have been recommending something, which pay above average dividends thereby causing such securities to become dangerously overvalued.

3. Those highly committed and knowledgeable investors will not be easily dissuaded into selling by media hype and anything else. Alternatively, they are buying in wisely, into some point in the future.     

Many times that you hear positive coverage on the cable TV and analyst begin to upgrade everything, and it has already been in a strong uptrend and too late to obtain a compelling bargain. Virtually everyone seems to believe that the good times will last indefinitely. Financial markets will always act in whichever manner will harm the greatest number of get rich quick adventurers.

It is true and was undeniably exciting, many chartist and institutional money managers have owned  high dividend yield oil/ energy and commodity assets at all time high for multiple fundamental reasons, at least until recently. Whenever too many investors are convinced that they won't lose money and then end up in the red, they behave more emotionally because they can't trust what is happening. 

4. It is emotionally difficult for many investors to purchase the " falling knives"  because they see, they hear and read a flurry or negative comments about such assets from Wall Street Journal on a daily basis, and become subconsciously brainwashed into believing it must be true although some assets are at ridiculously multi year low. 

Now that domestic retailers are finally switching from safety to risk and desperately stretching for yields, seriously scrutinize the equity when come a time when most of the people are avoiding assets that are experiencing downs trend breakouts. Buying something which is near to its all time peaks is extremely dangerous. 

While far too many investors are quixotically searching for yields and are eagerly purchasing ridiculously overvalued assets,  there are assets that are profitable and virtually ignored by the financial advisors and analysts and practically everyone else, there are profitable and virtually ignored assets that are experiencing down trend breakouts, but virtually ignored practically all, except for top corporate leaders and insiders who have been repeatedly buying large position into them. 

5. Why Highly successful people are misleading? 

Manipulated and speculated market has a sour taste, and always smack an intent to defraud, and deceive, regardless of what slippery words to disguise the blatant grift, fraud and embezzlement of public funds. If most people are piling in and out from all time peak prices, then tbe market is set to punish instead of rewarding. No matter what formula they're  practising.

Most people recognized the all time peak assets is dangerous and the storm is terrible,  but they've never found these dangers sufficient for remaining ashore. 

Unfortunately,  human nature never changed, the whatever happened will happen, repeatedly and constantly. We need/must to avoid being duped by them with strong emotional control.

6. Its all about your own emotional control, trading rules, and information.  

It's more of an emotional than an intellectual bet. Respond when your intuition tells you. 

Never try to test how much pain you could take, pain is the only thing that is real.