Posted: Thursday, March 28, 2013 7:53 AM ET
1. Focus: Stay on top of your positions, and don't get sidetracked when something does not go your way.
2. Short Memory: Don't allow a mistake or two to rattle your confidence to the point where you are scared to make moves. A lot of investors make a bad trade and get gun shy over making future investments. Don't get sidetracked from your ultimate goal.
3. Spread the Floor: Spread your money around. Diversify over a wide range of sectors. Investors that put all their eggs in one basket are asking for trouble.
4. Take the Easy Shots: Look for the easy money when you can find it. Dividend stocks offer guaranteed income that can substantially increase your portfolio's value.
5. Practice: It takes time to learn how to become a successful investor. Like in all areas of life, practice makes perfect, and investing in no exception.
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