Well, when you trade OPM, take your piece of the action win or lose, and have Uncle Sugar to backstop all your blow ups...what's not to like?
#5 is the most important one on the list. The guys who work on Wall Street usually have degrees from big name colleges and aggressive personalities. If they fail on Wall Street, then they will get a job somewhere else. If the retail trader fails, they fail and you won't be able to explain that easily.
Are you copy this from any trading book out ? Summary - No edge No Money, even if you find an edge, it will erose really fast (your broker will steal from you, "someone" will hack your account or learn from you when you put your position on the market..).