How I Made $2,000,000 In The Stock Market by Nicolas Darvas

Product Description

How did a world-famous dancer with no knowledge of the stock market, or of finance in general, make 2 million dollars in the stock market in 18 months starting with only $10,000? Darvas is legendary, and with good reason. Find out why.
Product Details
Amazon Sales Rank: #1671 in Books
Published on: 2007-05-28
Number of items: 1
Binding: Paperback
124 pages
Customer Reviews

Fun & Quick Read
In review of How I Made 2,000,000 In the Stock Market, I found the book to be overall worth the read. The story is about a young professional dancer who happens to begin trading in the stock market during the early part of the twentieth century. The book goes over a lot of the lessons he learns, some of which are applicable today and some of which are not.

A few key items to keep in mind are:

1. Learn to take a profit
2. Minimize your losses
3. Think about utilizing Stop Loss Orders when you purchase a stock.
4. Buy only appreciating stocks, never depreciating.

The author develops what I call "box theory" throughout the book. This translates to the author following a stock for a given period of time and drawing a high and a low point in which he expects the stock to trade inside. Once the stock breaks the top of a box (into the low of a new box) he will buy the stock.

If anything, I would recommend this book for the very begining person who is interested in making trades inside of the market. It's a fun read and very short. It might be a little dated where as the Internet has GREATLY changed the way we trade and the extension of how many people can obtain information quickly compared to the author, but most of his thinking still holds true today.

More like a pamphlet than a book, but still good...
Kind of antiquated now, but still a good story. The author tells the story of how he made a fortune in the markets - $2 million in his time is probably more like $10-$15 million now. He started by investing based on tips, then on fundamentals, and finally by combining technicals and fundamentals. It's educational and very readable. The amazing thing is how little Wall Street and the investing world have changed since Darvas made his fortune in the 50s.

A Must-Read Trading Book
This is one of the absolute "must-read" books for people who want to start trading. Do not expect to get a guideline how to get rich quickly when buying this book! The value of this book is the openness in which Darvas describes his way from a bloody beginner to a successfull trader, covering not only the sunny side but also in the faults he made when buying stocks and the mental aspects which impact traders when the market is against them.