I held my breath as I anxiously watched the continued rise of my option market trade. When it hit 40, I had a compelling temptation to sell. But I hung on. For the first time in my option market career I refused to take a quick profit. I dared not - I had that $9,000 loss to make up from hy previous option market trade.
I telephoned my broker every hour, sometimes every fifteen minutes. I literally
lived with my option
market trade. I followed its every movement, every fluctuation.
I was watching it the way an anxious parent watches over his new
born child. For five weeks I held it, tensely watching it all the
Then one day, when it was standing at 43 & a quarter, I decided not to stretch my luck any further. I sold it and received $42,840.43. I had not got my $9,000 back, but I had recovered more than half of it from this particular option market trade.
When I sold TEXAS GULF PRODUCING I felt as if I had just passed the crisis in a long, critical illness. I was exhausted, empty, spent. And yet, something began to shine through. It came in the form of a question.
What, I asked myself, was the value of examining company reports, studying
the industry outlook, the ratings, the price-earnings ratios? The
trade that saved me from disaster was one about which I knew
nothing. I picked it for one reason only - it seemed to be rising.
Was this the answer? It could be.
So the unfortunate experience with JONES & LAUGHLIN had its significance. It was not wasted. It led me toward the glimmering of my theory.
article is actually only a small snippet of Nicolas
Original Method Of Nicolas Darvas... The Young Dancer
Turned Investor Who, Within 18 Months, Turned $25,000
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