Cramer's 'Mad Money' Recap: April 8

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In a special episode of his "Mad Money" TV show, Jim Cramer celebrated his 1000th show in front of a live studio audience.

He told viewers he knows where they go wrong with their investing and vowed to help them fix their mistakes. He then rattled off 10 plagues that afflict retail investors.

Plague No. 1: digging in your heels when the facts change. Cramer said investors must always be flexible and move on.

No. 2: believing you should always be fully invested. He said it's OK to have some cash and encouraged investors to always have at least some cash on sidelines.

No. 3: believing it's impossible to beat the market. He said beating the market can be done and he's living proof.

No. 4: letting despair blind you to opportunity. He said there's always opportunity somewhere.

No. 5: not being prepared for losses. Cramer said losses are inevitable and are not a reason to give up.

No. 6: letting your gains ride. Don't be greedy by not taking profits, he said.

No. 7:selling at the exact top and buying at the exact bottom. Don't be arrogant, said Cramer, adding no one is good enough to call exact tops or bottoms. Buy in increments.

No. 8: allowing yourself to believe stocks can be cheap. Stocks do not get to $10 or less because things are going well, Cramer told viewers. The downside always 100%.

No. 9: taking everything to hear at face value. "Do your own homework," said Cramer, and don't believe everything you hear on TV.

No. 10 - Buy and hold. Cramer said buy and hold doesn't work, but buy and homework does.

Cramer said investing is not a lazy man's game. It takes effort and it takes rigor. But if you want to profit, he said, you must avoid these ten plagues.