Apr
27
2010
Paraphrased excerpt from “The Richest Man In Babylon”
Start thy purse to fattening: “For every ten coins thy placest within thy purse take out but nine. Thy purse will start to fatten at once……”
(Save at least 10% of everything you earn!)
Control thy expenditures: “Budget thy expenses that thou mayest have coins to pay for thy necessities……enjoyments……thy worthwhile desires……without spending more than nine tenths of thy earnings……”
(Establish a spending plan and spend only what you have after you have put away your 10%)
Make thy gold multiply: “…..put each coin to laboring that it may reproduce its kind……”
(Make your money work- don’t put it in the mattress- invest it!)
Guard thy treasures from loss: “……Consult with wisemen…those experienced in the profitable handling of gold……protect thy treasure from unsafe investments.”
(Obtain professional advice and invest in solid performing companies!)
Make of thy dwelling a profitable investment: “…..own thy own home.”
(Choose your home, and its location carefully and plan on that your home will be an appreciating asset.)
Insure a future income: “……provide in advance for the needs of thy growing age…. no matter how prosperous his business……”
(Do a retirement plan! Know- don’t guess- what you will need to live, the way you want to live!)
Increase thy ability to earn: “……cultivate thy own powers, to study and become wiser, to become more skillful, to act as to respect thyself.”
(Engage in constant self-improvement. Keep your skills current. Technology and time will eventually make your skills obsolete!)
This last one is from me: Build ye an investment investigation source!
(To become wealthy seek the council of professionals!)
While the U.S. Markets are constantly a Roller Coaster of energetic fun, one Rule stays true.
Whether we be in a Bull Market, or a Bear Market, you must ALWAYS keep a level head. Emotions cloud your judgment, and reduce your profits!
By always having STRICT Trading Rules set in place, you are sure to do better than the average investor.
Stop Losses, Trailing Stop Losses; Limit Orders are just some of the practices used by pros that can help you maximize your profits, while greatly reducing your downside (Risk).
We highly recommend signing up to the ChartPoppers.com Newsletter where you will receive our FREE Ebook "Investors Edge" PLUS weekly Updates on select Emerging Growth Trading Opportunities.
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Gloria, California
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Hashik, Boston
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Steve, New York
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