I decided I would trade forex market quotes by doing the right thing first - follow what each forex market quotes behavior commands and care about taxes later.
As if forex market quotes were made to confirm my new attitude, I handled them successfully for quite a while. I bought with bold confidence when I thought I was right and coldly, without hurt ego, I took my limited losses when I thought I was proven wrong.
One of my most successful operations was in COOPER-BES-SEMER. I bought three times into these forex market quotes, each time 200 shares. Two operations ended with a loss, but the third made me a sizeable profit. Here are the details of these purchases:
I did not like it, but there was nothing I could do. According to my theory, I just had to sit back and wait patiently until one or more of the forex market quotes I had been stopped out of, or any other forex market quotes I was watching, went towards a new higher box.
Eager and anxious, I watched from the sidelines with not a dollar invested, while prices continued to drop.
But no opportunity seemed to appear. What I did not know was that we were at the end of one phase of the great bull market. It was several months before this became evident and it was declared a bear market. Half the Wall Street analysts still discuss it. They say it was merely an intermediate reaction - a temporary halt in the rising market. They all agree, however, that forex market quotes collapsed.
Of course all these opinions are expressed by hindsight - when it is too late. The advice to get out of the forex market quotes market was not available when one needed it.
I recall the case of Hitler when he decided to invade Stalingrad. To him it was just another Russian town to be conquered and occupied. Nobody knew while the battle of Stalingrad was being fought that it was the turning point in the war. For a very long time, few people realized it.
Even when the German armies were half-way back, it was still talked about as strategic withdrawal. It was, in fact, the end of Hitler. The Nazi war bull market ended the day Hitler attacked Stalingrad.
In the same way, I realized that it was impossible for me to assess great historical turning points in the forex market quotes market when they began to happen. What fascinated me, as Wall Street forex market quotes continued to fall, was the gradual realization that my system of ducking out quickly with my stop-losses made such an assessment unnecessary.
I made the joyful discovery that my method had worked much better than I had dreamed. It had automatically released me well before the bad times came. The forex market quotes market had changed - but I was already out of it.
article is actually only a small snippet of Nicolas
Original Method Of Nicolas Darvas... The Young Dancer
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