It's over! The worst year for the financial markets in decades has finally come to an end, letting traders and investors clean the slates and take a fresh shot at turning profits. This glorious turn of the calendar can't come soon enough for the majority of market players that have booked horrendous losses in the last 12 months.

Of course, not everyone lost money in 2008. Scalpers, short sellers and trading bots fared exceptionally well in the scorched landscape, sweeping up profits while retirement accounts and hedge funds got ripped to shreds. For most of us, however, January will offer the best opportunity in months to redeem ourselves and our love of trading.

However, extreme caution is advised as we set foot in the new year. After all, we're still caught in an ugly bear market, undermined by credit and leverage issues that will take years to unwind. Meanwhile, limp holiday sales numbers tell us the American consumer has gone on permanent strike, despite the lowest energy prices in years.

Here are 10 ways to do things right in January and stay in the winner's circle throughout the upcoming year.

1. Forget about 2008. Sorry, this isn't a game of catch-up. Every trade you make in the next year has to stand on its own merits. Set realistic profit goals, or you'll crash and burn trying too hard to take money out of a tough market. Accept that it might take years before your equity rises above early 2008 levels.

2. Give up market gurus. How much money did bad market advice cost you in 2008? Hmm, I thought so. Start January by dumping long-time advisors, turning off the boob tube, deleting unhelpful blogs and doing your own homework for every position you intend to take.

3. Become an aggressive market timer. Stop investing mindlessly and put entry and exit dates on every position you take. Get logical stop losses attached to those positions and honor them if the market turns against you. Follow broad index cycles and sit on the sidelines when they don't favor your specific strategy.

4. Stop cutting corners. The days of easy profits are gone for good. If you haven't noticed, there are automated trading algorithms out there working full-time to take advantage of your mistakes. Fight back by examining your results, updating your strategies and finding working themes for the next session.

5. Become a disciplined market player. Poor discipline is the single biggest reason you lost money in this year's bear market. Simply stated, you can improve your bottom line in 2009 just by laying off bad trades. I know it sounds easy, but most traders would rather fail miserably than exercise sound discipline.

6. Recognize the warning signs. Big losses rarely come without warning and you don't have to wait for a lifeboat before you abandon a sinking ship. Keep in mind that delicious profit isn't yours until you close out the trade. If the trail stops, take blind exits and do everything possible to get that money into your pocket.

7. Become a full-time market technician. Everyone loves the charts when the stock market is falling. But those same folks choose to ignore technical signals during bounces, rallies and upticks. That's a shame because technical analysis is designed to protect your money in all types of markets, good and bad.

8. Control size, control your destiny. Don't trade over your head if your last name isn't Kass or Cramer. Just concentrate on playing the game well and stop thinking about making money. Cut down your position size and hold on longer to ease the impact of whipsaws triggered by high volatility.

9. Control time, control your destiny. Don't have a paycheck mentality. You don't need to get paid every week or every month as long as you take advantage of the trading opportunities as they come. Classic wisdom: Traders book 80% of their profits on just 20% of the days the market is open for business.

10. Get back to basics. Rewrite your trading plan from scratch and stick with it throughout 2009. Write down all the reasons you take each trade, note your profit objectives and intended exit points. Define a personal style, match trading to the realities of your life and then review your goals on a weekly basis.