Robert Prechter’s 6 Critical Rules to Investing

EWI’s Robert Prechter says following these 6 critical rules will make you a better investor…

Face the facts — investing isn’t easy. If it was, everyone would be successful. Successful investing takes hard work and discipline.

Famed financial analyst Robert Prechter has identified the 6 critical rules successful investors follow. Learning the rules is the easy part — putting them into action is what will make you a success. (Download Prechter’s free 30-page report here)

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.

Here’s a sneak at 2 of them:

• Rule 5) Accommodate losses
• Rule 6) Accept huge gains

Now how do you use these and the other 4? Make Robert Prechter your virtual mentor — get his free 30-page report, Six Critical Money-Making Rules for Investors.

Related posts:

1. Robert Prechter’s Free Online Edition of Elliott Wave Principle
2. Download Bob Prechter’s Free Report on Market “Critical Juncture”
3. Elliott Wave’s 14 Critical Lessons Every Trader Should Know
4. Robert Prechter’s Free Report: Major Disaster Developing for Bond Holders
5. Robert Prechter’s Elliott Wave 2010 Report

Tagged as: 2010 Stock Market, Elliott Wave, EWI, Robert Prechter, Rules fo Investing