Obviously your code is more readable with 3 or 4 arguments rather than 7 or 8, though there are some things you can consider.
If some of the arguments are closely related you can create a placeholder class. For example rather than arguments (int age, String firstName, String lastName) you could use an argument (Person person).
Another case is where the arguments are all of the same type. In this case you can use a varargs and the type signature will look like Type.... varags documentation.
Whilst there is no hard and fast "rule", use your best judgement and think about the readability and maintainability of your code.