How I Made $2,000,000 in the Stock Market
by Nicholas Darvas, Nicolas Darvas
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Book Summary Information
Author: Nicholas Darvas, Nicolas DarvasEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2009-04-14
ISBN: 1608429962
Number of pages: 184
Publisher: Classic Business Bookshelf
Book Reviews of How I Made $2,000,000 in the Stock Market
Book Review: Every Investor and Trader Should Have This Book
Summary: 5 Stars
I'm new to investing and trading, I will admit it, I've been doing it for a few months now, and I started with only a thousand dollars, even though Darvas once said that if you don't have five thousand you shouldn't even step in--though I'd say that was probably because the cost of the commission made it so much more difficult. I've read this book four times, once out loud to my mother who has also opened an account, and used this strategy with William O'Neil's CANSLIM to start growing her retirement, already up five thousand from the twenty thousand account she opened.
This book helped me spot stocks like FUQI at ten to fifteen, STEC at twenty. I had lost five hundred dollars of my thousand before I found this book and started reading it, with it, I was able to use it to catch the trend upwards on Borders Group and ALD from April to May which turned my five hundred into twelve hundred. Through a series of stocks, I'm up to nearly three thousand, I also put a little money in the account, about a hundred and twenty, for full disclosure, but this book is excellent. I understood it right off the bat, and along with William O'Neil, I have been very profitable. I bought fifty shares of STEC it up to thirty four, FUQI is up to twenty five and I bought a hundred shares of that. I'm up to nearly five thousand dollars. This small bull market has been doing me great, and I've been prospering in it, making sure to keep my stop losses reasonably close so not to give back all my profits. I have taken a lot of losses, nearly fifteen hundred dollars worth of losses, but I've always made that back with my winners. I was trading small cap until I had a good deal of money, and used to get stopped out at thirty five cents daily.
This book should be required reading for anyone considering getting into stocks, its an uplifting story, its entertaining, its fun, it lets you get a good look into the work it takes to become very profitable in the stock market.
The rules I come away from with this book are simple.
1: You're going to be wrong half the time if not more, so always make sure you cut your losses.
2: Only buy into rising stocks.
3: Use volume, new products, earning growth, and price to decide if the stock is about to move.
4: Never listen to the news or analysts, they're human and can be just as wrong as you, and their information is usually late and of no use.
5: Annual Reports and Company Records mean nothing about the companies future.
I've used these rules and I plan to keep using these rules. This is an excelent book, and at 8.99,7.99, its too cheap not to buy.
EDIT: July 17, 2010
I added 30,000 thousand dollars to my account. I started trading options and using this break out strategy, watched my 30,000 become a 110,000 in one year, and in the last four months, I've made another 75,000 dollars.
Summary of How I Made $2,000,000 in the Stock Market
In Just 18 Months, Nicolas Darvas Turned $25,000 into Over $2 Million... This is How He Did It... ...and How You Can Do it Too! With just fifty pounds sterling to his name, at the age of 23, Nicolas Darvas fled his native Hungary using a forged exit visa, to escape the Nazis. A dancer by trade, he toured nightclubs and other venues, making a living as a performer. While on tour in 1952, a Toronto nightclub offered Darvas $3000 worth of stock in a Canadian mining company, instead of his normal cash payment. He accepted the offer, and within two months, made an $8000 profit. When this happened, Darvas became very interested in the stock market. Seeing the potential for easy money in the stock market, but realizing that his initial success was based on luck, over the next several years, Darvas became committed to conquering Wall Street. He read as much as he possibly could about the stock market. He analyzed company balance sheets, studied analyst forecasts, and read dozens of investment newsletters. This book is the result of that study, including how Darvas used his system to take a $25,000 investment and turn it into a $2.25 million fortune in just 18 months. Nicolas Darvas wasn't a professional stock trader. He was a dancer. Yet, his unique approach to stock trading, which allowed him to make money regardless of whether the market rose or fell, enabled him to make a fortune. Will this system work for you? Yes! Unlike most stock trading systems, Darvas' unique strategies work, regardless of the economy or other market conditions. In fact, thanks to modern day analysis tools, his system works as well today as it ever has. Every day, people make money in the stock market. You can too!Investing Books
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