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I would add #6: 6) Do the exact opposite of what EliteTraders are excited about, and stay as far away from websites that advertise consistent profitable results.
I totally agree with the "stay away from sites that promise consistent results." You could have 10 traders same the chart of a stock going higher and some will make money and some won't. The difference is in education. Join sites that promote education and sites where there is accountability not ones that promote one strategy that is the "holy grail." The problem with many online stock education sites is that they are educators. Stick with sites of people who are real traders and who you can communicate with. The proof is in the pudding.
It's not about learning every set up known, it's all about learning a couple of setups (1 or 2) that one has tested over and over again. So many people end up on an endless journey trying to find the perfect setup that when a good one pops up it's thrown in the crap pile before the setup has yet to prove itself. People have to learn to trust what ever strategy they use, instead of dropping it at the first sign of trouble.