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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.
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!!
Published on June 2 2003

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3 of 3 people found the following review helpful
3.0 out of 5 stars Good success story, bad investment guide
This book was interesting to read as a success story, however when it comes to points on how to invest in the stock market - it's almost useless. It seems that the guy was almost lucky to pick the stocks that skyrocketed. He describes the events very carefully, but when it comes to details on HOW he actually picked the stocks he fails to give up the most important...
Published on Feb. 8 2002 by Alexander Guberman


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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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6 of 6 people found the following review helpful
4.0 out of 5 stars A Complete Insight Into How I Made 2,000,000 in the Market, Oct. 2 2002
By 
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.
Always place stop-loss orders just under the bottom of the consolidation area and use trailing stops to lock in swiftly made profits.
Develop your own successful system based on principles you know to be true and which you have confidence in.
When you find a system that you believe in and which is successful you should not allow others to influence you. Stick to your proven, successful plan and don't be influenced by others.
Traders should focus on only a few stocks. Darvas traded no more than 3 stocks at a time and his account was well over $1 million.
Volume spikes on up days indicate that there is a large interest in the company and that future advances are likely.
How I Made $2,000,000 in the Stock Market by Nicolas Darvas is an entertaining and thought-provoking book about how a man with no background in business (Davis was a professional ballroom dancer) used his own trading system based on technical analysis to turn $10,000 into more than $2 million by focusing on price action. This book is a great read for students of trading or for people who enjoy the burst of hope that often accompanies reading about the success of others.
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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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4 of 4 people found the following review helpful
5.0 out of 5 stars One of the Best Books Written on Stock Market Strategy, Nov. 17 1998
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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3 of 3 people found the following review helpful
3.0 out of 5 stars Good success story, bad investment guide, Feb. 8 2002
By 
Alexander Guberman "kidalex" (Cupertino, CA USA) - See all my reviews
(REAL NAME)   
This book was interesting to read as a success story, however when it comes to points on how to invest in the stock market - it's almost useless. It seems that the guy was almost lucky to pick the stocks that skyrocketed. He describes the events very carefully, but when it comes to details on HOW he actually picked the stocks he fails to give up the most important information.
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3 of 3 people found the following review helpful
4.0 out of 5 stars Everyone who trades stocks should read this book...., April 1 1999
By A Customer
This is the only book I have ever read that details the author's personal journey through stock trading. Yes, he doesn't spell out his system in an easy to understand fashion (in fact, I've spend many hours rereading and condensing his approach into something I could understand) but the book is a great read and his system makes perfect sense even today. Forget technical analysis -- life is too short; just read this book for a quick, lively course in momentum investing.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Simple Methods Can Work in Any Market, Dec 30 2002
By 
AvidReader (Murrieta, CA USA) - See all my reviews
Its easy to see why this book has become a classic. Darvas writes with a style that's both entertaining and enlightening. And he proves with his actual buy/sell statements that a simple technical analysis method can work if applied with discipline and combined with good money management techniques. Furthermore, contrary to what some reviewers say, much of his success occurred in flat to down market periods.
Even though we are presently in a severe multi-year bear market, its a good time to study techniques and prepare for better times - EVERY bear market in history has been followed by a bull market. For more on the money management aspect, and why its actually more important than a good entry/exit method, I recommend Tharp's Trade Your Way to Financial Freedom. Its a real eye opener.
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2 of 2 people found the following review helpful
5.0 out of 5 stars This book can dramatically increase your wealth!, Nov. 20 1999
By A Customer
I shunned this book 10 years ago because of its title and its use of margin. Following the recommendation of Investors Business Daily I bought the book and started reading it. The author's experience of trading stocks echoed with mine sentence by sentence and I was totally absorbed. I admired his relentless pursuit of how the stock market actually worked and he finally figured it all out to make two million dollars. To create tremendous wealth you must concentrate on the best acting stocks in the market and use trailing stop loss orders. I am glad the author, a dancer, was willing to share a secret that Wall Street pros will trash but who made $2 millions? The book has already doubled my net worth and whoever follow these words of wisdom will become the millionaire next door!
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1 of 1 people found the following review helpful
4.0 out of 5 stars excellent for the investment novice, Aug. 12 1998
By A Customer
The delightful thing about this book is the author's honesty, especially in the beginning, about how he made all the classic tyro errors. I also found the deterioration of his investment results when he had too much information to be very true, and this was in the pre-Internet age! I think if you read this book and no other, you can do well in the market, if only because you will keep it simple. So often people hold on to losing stocks, hoping and praying they will come back, whereas his approach mechanically and automatically forces you to cut your losses early. The charts in the back are very good despite their skimpiness, and illustrate how he would purchase a stock as it is making a new high out of a base (a "box," to use his terms). Very entertaining and inspirational.
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How I Made $2,000,000 in the Stock Market
How I Made $2,000,000 in the Stock Market by Nicolas Darvas (Paperback - May 28 2007)
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