05/05/10 - Robert Prechter's 6 Critical Money-Making Rules for Investors
If you ask 100 highly successful investors for one thing they recommend to boost your portfolio's performance and put you on a fast-track to joining their ranks, chances are many would give you the same piece of advice: Find a mentor.
Robert Prechter, president of Elliott Wave International, has long touted the benefits of finding a mentor. He's also written about how hard they are to find. Your mentor should have the right mixture of guts, common sense and discipline — the traits Prechter says are critical for making a successful investor.
But let's face it; personal mentors don't grow on trees. Sometimes the best you can do is a virtual one.In the latest free report from EWI, Prechter reveals some of the most important lessons he's learned as an investor and financial analyst. One of his most telling observations is one he had about the handful of the successful traders he knows -- most of which are former Marines.
"What you need is the guts to do what is right when it feels wrong," Prechter said. "That takes immense courage and discipline. ... Discipline is extremely important."
The good news for you is, discipline can be learned. Marines go through months of drills and exercises to learn discipline; individuals must take a different -- but equally strict -- route.
Prechter has identified 6 critical rules to follow to become a successful, disciplined investor. The rules themselves are simple; following them is the hard part. But if you do, you may one day count yourself among the few and proud who become truly successful investors.
Make Robert Prechter your virtual mentor — Download his free 30-page report, Six Critical Money-Making Rules for Investors, now.
