How I Started Back On The Right Track In The Options Forex Market




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The Nicholas Darvas Options Forex Market Success Story (part 57)

When I came back to New York in the third week of February 1959, I had completely recovered from the shock of my mad period, and I began to invest in the options forex market again.

I could still feel the bruises of my own foolishness but I was like a man who feels stronger and better after a bad experience. I had learned my last lesson in the options forex market. I knew now that I had to keep rigidly to the system I had carved out for myself. I had learned that if I deviated from it even once, I would be in trouble. My whole financial structure was immediately in danger - it could crash options forex market future.

My first move in New York was to erect an iron fence around myself to ensure that I did not repeat any of my previous errors in the options forex market. I first decided to spread out my deals among six brokers.

This way my operations would not be followed. To guard myself against any possible interference in my options forex market future, I put up my barrier. It is a way of protection I am still using today.

This is how I worked it out. I asked my brokers to send out their options forex market telegrams after Wall Street closing time, so they would reach me at 6 P.M. This is about the time I get up - the result of performing in nightclubs for many years. Meanwhile, during the day, the telephone operator is instructed not to let any calls through.

In this way everything happens in the options forex market while I am in bed. I am sleeping while they are working, and they cannot reach me nor worry me. My delegate, the stop-loss order, represents me in case something unforeseen happens.

At 7 P.M. I start to work studying my daily options forex market telegram and deciding what my future dealings will be. Before I do this, I buy a copy of an afternoon paper that contains Wall Street closing prices. I tear out the pages giving the day's quotations and throw the rest of the financial section away. I do not wish to read any financial stories or commentaries, however well informed. They might lead me options forex market strategy.

Then, with my telegram and my page out of the newspaper, I settle down to work while the options forex market sleeps.

During the weeks I spent repairing my injured confidence, the two forexs I did not sell continued to rise, UNIVERSAL CONTROLS almost uninterruptedly advanced until it stood around 60. This was more than a 40% rise since my last New York visit. THIOKOL behaved equally well in the options forex market and now was pushing over 110.

This was very promising indeed. I decided I had no reason whatever to touch them. Armed by my bitter experience and well entrenched behind my new strong fence, I began to move into the options forex market with cautious confidence. These were some of my successful operations:

 

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