How I Made $2 Million In The Stock Market
How I Made 2 Million Dollars In The Stock Market – The Original Stock Trading Classic [Newly Annotated] (Kindle Edition)
How I Made 2 Million Dollars In The Stock Market – The Original Stock Trading Classic [Newly Annotated]
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Before emigrating to America, Darvas studied economics at the University of Budapest. Arriving in the US in 1951, Darvas trained with his half-sister, Julia, to be a ballroom dancer, becoming extremely successful and touring the world by 1956. He discovered investing in 1952, when a Toronto nightclub, unable to pay him in cash, instead paid him with shares. It was on a two-year tour of the world that he initially developed his ‘Darvas Box’ method of screening stocks – a method of picking stocks based on the stock’s price and volume – and later went on to refine this to remove any human element from his trading to substantial success. Nicolas Darvas is regarded as one of the best traders in the history of the market and his method, whilst complicated and difficult to master, has been rigorously tested and has been found to be one of the best trading systems yet developed.
If you are interested in Nicolas Darvas and/or the methods he used to make two million dollars in the Stock Market, then you should definitely read How I Made $2,000,000 in the Stock Market. It is a first hand account of how Nicolas Darvas made $2,000,000 dollars in the stock market in the space of about 2 years.
Nicolas Darvas chronicles how he got involved in stock trading from losing money on rumors and bad advice to the formulation of his famous Darvas Box Theory and the accumulation of more than $2,000,000 in less than two years.
Darvas tells how he patiently stalked the stock market for stocks that triggered his buying conditions. And, how once a stock was bought it would be sold automatically by a stop loss or kept no matter what until it changed direction or stabilized for some time.
Probably the most valuable lesson the trader can take from this book is the importance of a Trading Plan. The reader is told how Darvas formulated his theories, observations and lessons from his losses into a concrete Trading Plan and how he carried it out – sometimes waiting weeks for the right trade. Also, using the plan to resist the temptation of profit taking early and missing out on large winnings.
Another lesson the trader can learn from Darvas is how crucial it is to learn from mistakes and to use these lessons to shape your goals to achieve success.