How I made $2,000,000 In The Stock Market by Nicolas Darvas is one of the best-selling trading books of all time.
Despite being written about 60 years ago, it has some lessons to be learned.
Here are a few timeless lessons Darvas learned:
#trading $spy #tradingquotes $qqq
1/7
Despite being written about 60 years ago, it has some lessons to be learned.
Here are a few timeless lessons Darvas learned:
#trading $spy #tradingquotes $qqq
1/7
1. My estimate that I would be right half of the time could be optimistic.
2. I knew that I had to adopt a cold, unemotional attitude toward stocks; that I must not fall in love with them when they rose and I must not get angry when they fell.
2/7
2. I knew that I had to adopt a cold, unemotional attitude toward stocks; that I must not fall in love with them when they rose and I must not get angry when they fell.
2/7
3. I should not follow advisory services. They are not infallible.
4. I should be cautious with brokers’ advice. They can be wrong.
5. I should ignore Wall Street sayings, no matter how ancient and revered.
3/7
4. I should be cautious with brokers’ advice. They can be wrong.
5. I should ignore Wall Street sayings, no matter how ancient and revered.
3/7
6. I should not trade “OTC” – only in listed stocks where there is always a buyer when I want to sell.
7. I should not listen to rumors, no matter how well-founded they may appear.
8. The fundamental approach worked better for me than gambling. I should study it.
4/7
7. I should not listen to rumors, no matter how well-founded they may appear.
8. The fundamental approach worked better for me than gambling. I should study it.
4/7
9. There is no sure thing in the market – I was bound to be wrong half of the time.
10. I must accept this fact and readjust myself accordingly – my pride and ego would have to be subdued.
5/7
10. I must accept this fact and readjust myself accordingly – my pride and ego would have to be subdued.
5/7
11. I must become an impartial diagnostician, who does not identify himself with any theory or stock.
12. I cannot merely take chances. First, I have to reduce my risks as far as humanly possible.
6/7
12. I cannot merely take chances. First, I have to reduce my risks as far as humanly possible.
6/7
13. When a share is in an uptrend, we should hold on to the share and not hurry to sell it off.
14. On the other hand, when the share indicates or gives a signal of moving in the downtrend, then we should sell it off early.
7/7
quantifiedstrategies.com/timeless-tradi…
14. On the other hand, when the share indicates or gives a signal of moving in the downtrend, then we should sell it off early.
7/7
quantifiedstrategies.com/timeless-tradi…
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