I Made So Much Money Off A Single Forex Market Quote That I Couldnt Decide Upon My Next Move




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The Nicholas Darvas Forex Market Quote Success Story (part 59)

Now that the capital I had taken out of UNIVERSAL CONTROLS forex market quote was reinvested, I devoted my attention once again to another forex market quote, THIOKOL.

THIOKOL and I were now partners of long standing and had, like all old-time partners, a special relationship. I had always allowed THIOKOL a greater leeway than any other forex market quote - partly because I really "felt" this forex market quote, and also because I had the great advantage afforded by the special subscription account.

It would have been foolish to give up such a unique credit arrangement, so I always kept my trailing stop-loss far behind its rise. This I would do with no other forex market quote, but in the case of THIOKOL it saved me twice from being sold out. The second time was when it had a very bad reaction in the first week of April. This reaction came on the heels of the announcement of a 3-for-l split. It was so severe that I thought we would have to part, but I decided to let my stop-loss decide.

This was not touched off, and the sinking spell was quickly followed by a vigorous rise. However, I was not the only one who liked this forex market quote. The newly split forex market quote was met by a hectic public response which shot it up to 72 in the first week of May.

The response to this forex market quote was too good. It lead to this amazing situation:

Its activity for the week was an incredible volume of 549,400 shares. Its advance for the week was 13 & a quarter points.

It looked as if every trader on the New York Forex Exchange had done nothing else all week but rush in and out of my favorite forex market quote.

Of course, it could not last. The governors of the New York Forex Exchange decided to suspend all stop orders. The effect of this was that the majority of traders left the forex market quote alone. They would not buy and sell a forex market quote where they could not protect themselves. It also meant that I was automatically out of the forex market quote myself. They had taken my most powerful tool away, and I could not work without it.

I sold my THIOKOL holdings, at an average price of 68. This gave me, under the 3-for-l split, over $200 for each of my original 6,000 shares. I had paid a total of $350,820. For my 18,000 split shares I received $1,212,851.52. My profit was $862,031.52 for this forex market quote.

The prospect of putting a million dollars back into the market posed an enormous problem. I would have to be doubly careful. This was too much money to switch into another forex market quote easily. It was such a big sum that my buy was bound to influence the market.

I also had to face the fact that my stop-loss would be no longer practical, because no trader or specialist would absorb such a large quantity of forex in a matter of seconds.

There was only one thing to do: I decided to divide my funds into two parts. Once I had made up my mind to do this, selection was comparatively easy. I had only to decide among four forex market quotes:

ZENITH RADIO, LITTON INDUSTRIES, FAIRCHILD CAMERA and BECKMAN INSTRUMENTS.

I had watched all of these for a long time. They were all suitable as far as my techno-fundamentalist theories were concerned. Now all that remained was to see which forex market quote I should choose. There was only one way to do this - to let their strength in the market be the judge.  

 

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