Nicholas Darvis Books To Read-The Dancer Who Made $2,000,000 in the Stock Market!
The Nicolas Darvis story is important for every stock investor. He has inspired traders for many generations throughout countless countries. He made his fortune without the help of computers, mobile phones, fax machines, CNBC, Bloomberg or any of the technology we have today. He only had access to end-of-day data and a weekly copy of Barrons! All of his trading decisions were made while he was traveling & dancing, not sitting watching a live data screen all day. Time magazine ran an article on him in 1959 espousing his extreme success at such a young age. Starting with an account of only $10000, Darvas amassed a fortune of over $2.2 million dollars. Putting this into context, these were 1959 dollars and would be equivalent to over $20 million dollars today.
He was successful because he ignored the news, broker’s suggestions and tips. He realized he had to develop a trading system that matched his personality. He became a student of the markets and learned from his own mistakes. His applied himself, had complete discipline and patience. These qualities are what make a successful trader and an excellent model for others to follow. One of great fallacies in trading is that we need to “buy low, sell high” in order to build up our wealth. Trend Followers like Darvis prove that buying a stock when it’s high can be a profitable strategy. Some people might think it’s crazy to buy a relatively expansive stock. But it all depends on what’s the logic behind your trading strategy. Buying high and selling even higher is a very hard concept for most to fathom however after reading this short ebook you will see how plausible it is. Like the trend trading strategies, the Darvas Box System stands the test of time. Trend following and trend trading will always work because human psychology, judgment, and emotion will always move the stock market. Fear and greed are always present in every generation and at every point in the stock market.
Some of the books that he read were:
R. C. Effinger ABC of Investing
Dice & Eiteman The Stock Market
B. E. Schultz The Securities Market: And How It Works
Leo Barnes Your Investments
H. M. Gartley Profit In The Stock Market
Curtis Dahl Consistent Profits In The Stock Market
E. J. Mann You Can Make Money In The Stock Market