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How I Made $2,000,000 In The Stock Market [Paperback]

Nicolas Darvas
4.4 out of 5 stars  See all reviews (68 customer reviews)

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Book Description

Dec 21 2010
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.
--This text refers to the Hardcover edition.

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About the Author

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 succesful 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 susbtantial 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. --This text refers to the Hardcover edition.

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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

Most helpful customer reviews
6 of 6 people found the following review helpful
Nearly everything has a crude origin and, as time passes, becomes refined and developed. Mankind didn't start communicating by beaming an email to the other side of the country in a matter of seconds, rather, we used horse-bound messengers and slow-moving trains to make contact with others in distant places. Mankind didn't begin by driving to a restaurant and ordering a steak but rather, by going out and growing or hunting down food and cooking it over an open fire. Likewise, investors did not begin trading by typing a ticker symbol into a software program and picking a buy point on a bar chart based on well-established technical analysis patterns, rather, they bought stocks based solely on fundamental analysis.

After years of losing money in the market by taking others' advice and by using fundamental analysis as his sources for picking stocks, Nicolas Darvas developed technical analysis theories based on volume and price movement. Thanks to people like Darvas, who use their creative thoughts to question well-established principles when they believe them to be incorrect, traders now have a greater understanding of how to use technical analysis to make money.
In How I Made $2,000,000 in the Stock Market, Darvas describes how he would follow stocks and watch them bounce inside "boxes" of various shapes and sizes. Darvas would buy stocks as they were moving out of the top of their box and he would sell stocks if they fell out of the bottom of their box. Some of the other major lessons that Darvas learned during his journey to success include:
Only buy stocks that are in a consolidation, or better yet, focus only on stocks that are breaking out of a consolidation area.
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5 of 5 people found the following review helpful
5.0 out of 5 stars STILL WORTH READING April 6 1999
By A Customer
As an older book for making money in the stock market, it is worth reading today for a few reasons. First, it reinforces the point that it is more important to avoid losses than to strive for gains. Darvas includes his rules for limiting losses. Second, this investing theory is oriented toward active, moving, growth stocks. With increasing volatility in the market, most stocks go through cycles, taking even many of the former value plays into a "growth cycle" arena for part of the year. Third, many people shy away from buying on margin, and maybe they should, but here is one philosophy for buying on margin that takes some of the risk out. This book would have been better if there were more details on what, how and when to do what is described. Other books since then have addressed these issues. One of the real problems that investors face is The Disbelief Stall: The idea that they won't really make money in the stock market. That leads to behaviors and bad decisions that reinforce that idea. Then based on those few experiences, they fall in to The Misconceptions Stall: That they may lose on each trade. That leads to The Procrastination Stall: Not getting out in time and incurring more losses. To learn more about these stalls that get in the way of being successful, you should also read THE 2,000 PERCENT SOLUTION. Books like HOW I MADE $2,000,000 IN THE STOCK MARKET, HOW TO MAKE MONEY IN STOCKS, and the new books on E-trading help to break The Communications Stall and explain what to do, how to do it, and which investing style is comfortable for you based on each individual's objectives. With the right information, you will find your 2,000 percent or $2,000,000 solutions!
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6 of 6 people found the following review helpful
5.0 out of 5 stars A cheap book that can save you serious money. June 2 2003
By A Customer
I doubt doing the things he actually did to make his money would work today. But thankfully he documents all the mistakes he made before hitting it big.
Those mistakes would still be mistakes likely to cost an investor a lot of money. What he got right is much less important than what he got wrong.
Study the errors!!
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4 of 4 people found the following review helpful
By A Customer
This is probably my favorite book on maneuvering in the stock market. If you read William O'neill's "How to make Money in Stocks", which is also excellent, you will find he uses and expands upon many of Darvas' principles. O'neill also lists it as one of his top ten must reads on the stock market. Darvas' rules for cutting losses have helped me to limit my losses from 2 to 5 percent on average. I have avoided some serious losses from time to time(some up to 75 percent) by using Darvas' principles and cutting my losses quickly and have avoided avery market downturn in the last two years. While everyone was in distress about the '98 bear market, I was comfortably on the sidelines with my funds in cash thanks to this wonderful book. If more stars were available to rate this book, I surely would have given them. By the way, they're out of print, but if you can get Darvas' other books, "Wall Street-The Other Las Vegas" and "You Can Still Make it the Market", these are other followups that are just as good as "How I Made $2,000,000" and will really drive the points of his methods home.
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9 of 10 people found the following review helpful
4.0 out of 5 stars nothing new, but still true Dec 10 2006
the theory of "boxes" was enunciated by jesse livermore in the book "reminiscences of a stock operator" about 40 yrs before darvas published his book. livermore used it in the early part of the 20th century to amass millions. darvas may have stumbled on the theory independently, and i believe such a methodology can work. my only reservation is that the book itself is written in the same way i would write a book if i wanted to create a fictional account of how i "made $2,000,000". there's just something about the organization of the book and the writing style that doesn't ring true. it's too "neat".

neverthless, the system is valid, and, although the author didn't use it this way, it can be used to short stocks in bear markets, too, by selling weak stocks as they fall through the bottom of their boxes and placing buy stops just above the tops of new boxes.

the book does a good job of describing the system. in reading some of the negative reviews, i believe these people haven't quite grasped what darvas was trying to say. but it is all here.
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Most recent customer reviews
5.0 out of 5 stars Great Book. Every investor should read it
Great Book. Every investor should read it.
Published 3 months ago by Parker Smith
5.0 out of 5 stars A Classic For Every Stock Traders
After getting some great insights in The Perfect Trader: Learn How The Investing Legends Made Fortunes And How You Can Too(A great book by the way) it constently refers to Nicolas... Read more
Published 6 months ago by Alex Taylor
5.0 out of 5 stars newbie to trading
This book is amazing. I love it because it shows how he developed his trading system and make money with real examples. Read more
Published 10 months ago by charles
5.0 out of 5 stars A timeless book on stock trading
I hestated to buy this book at first because it didn't seem too 'revelant' - Darvas was trading stocks back in the days of telegrams and newspaper quotes! Read more
Published 14 months ago by kate
4.0 out of 5 stars Persistence
Marvel tell tale of a determined trader who went big and bold on trades through undulating learning curves to find his success.
Published 22 months ago by mario Dg
4.0 out of 5 stars Good, interesting book
This is an excellent book for people for people getting into investing as it's put into easy-to-understand terms (most of it anyway, with the exception of some financial ratios). Read more
Published on May 21 2009 by Richard Roma
5.0 out of 5 stars SHORT AND SWEET
Published on May 12 2004
5.0 out of 5 stars How I Made 2,000,000 in the Stock Market
While I did not read or know about this book until after I tuned $10,775 into $42 million in the stock market in 23 months (see articles and audit at Chartpattern. Read more
Published on April 26 2004 by Dano J.
5.0 out of 5 stars LEARN BY EXAMPLE - DARVAS DID IT!
I love this book! Forget theories! This guy did it--what better way is there to learn?
Being that I am a BIG fan of modeling (NLP) it makes sense for me to get so excited... Read more
Published on March 15 2004 by Zev Saftlas
5.0 out of 5 stars Great Read. Also Read His Second Book.
I could not put this book down until I read it all. That was several years ago and his second book at that time had gone out of print until the publisher received enough interest... Read more
Published on Feb. 27 2004
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