TheRumpledOne
6,411 posts
msg #28245
- Ignore TheRumpledOne |
9/2/2003 3:33:39 AM
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from HOW I MADE $2,000,000 IN THE STOCK MARKET by Nicolas Darvas
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page 34
1) I should not follow advisory services. They are not infallable either in Canada or on Wall Street.
2) I should be cautious with brokers' advice. They can be wrong.
3) I should ignore Wall Street sayings, no matter how ancient and revered.
4) I should not trade "over the counter" - only in listed stocks where there is always a buyer when I want to sell.
5) I should not listen to rumors, no matter how well-founded they may appear.
6) The fundamental approach worked better for me than gambling. I should study it.
7) I should rather hold on to one rising stock for a longer period than juggle with a dozen stocks for a short period of time.
page 55
"... I did not know what I learned later, that there is no such thing as CANNOT in the market. Any stock can do anything."
page 56
1. There is no sure thing in the market - I was bound to be wrong half the time.
2. I must accept this fact an readjust myself accordingly - my pride and ego would have to be subdued.
3. I must become an impartial diagnostician, who does not identify himself with any theory or stock.
4. I cannot merely take chances. First, I have to reduce my risks as far as humanly possible.
page 58
Objectives
1. Right stocks
2. Right timing
3. Small losses
4. Big gains
Weapons
1. Price and volume
2. Box Theory
3. Automatic buy-order
4. Stop-loss sell order.
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