How Cables Can Give A Better Insight To Your Stock Market Info




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The Nicholas Darvas Stock Market Info Success Story (part 29)

The basic mechanics of my operations were these: Barron's, which was full of useful stock market info and published in Boston on Mondays, usually reached me if I was in Australia or India, or any part of the world not too remote, by Thursday. This, of course, meant that I was four days behind the Wall Street stock market info. However, when I saw in Barron's a stock that behaved according to my theories, I sent a telegram to my broker asking him to bring me up to date on the stock market info from Monday to Thursday, for example:

"CABLE THIS WEEK'S RANGE AND CLOSE CHRYSLER."

If the stock, for instance, were in my opinion, behaving well in the 60/65 box, I would wait to see if the four-day quotations from New York still showed this. If the stock market info cabled to me showed it was still in this box, I decided to watch it. I would then ask my broker to quote it daily so I could see if it was pressing toward a higher box. If I was satisfied with the stock market info, I cabled to New York my on stop buy order, which my broker was instructed to consider good-till-cancelled unless otherwise specified. This was always coupled with an automatic stop-loss order in case the stock dropped after I bought it. A typical cable looked like this:

"BUY 200 CHRYSLER 67 ON STOP 65 STOPLOSS."

If, on the other hand, my broker's stock market info showed it had moved out of the 60/65 box since I had noticed it in Barron's, I forgot about it. It was too late for me to act. I had to wait for another opportunity.

Naturally, I was forced to narrow down my operations to the few stocks I could get stock market info on. The reason was purely financial. If I spent more than $12 to $15 a day on cables requesting stock market info, the operation would become uneconomic unless I made enormous profits.

In the beginning, I was terribly afraid. Not that being in New York had helped my stock market info in the past, but to be able to communicate with Wall Street by telephone had given me a false feeling of security. This I missed for a while. It was only later, as I gradually gained experience in trading through cables, that I came to see the advantages of it. No phone calls, no confusion, no contradictory rumors - these factors combined gave me a much more detached stock market info.

As I only handled five to eight stocks at a time, I automatically separated them from the confusing, jungle like movement of the hundreds of stocks that surrounded them. I was influenced by nothing but the price of my stocks.

I could not hear the stock market info that people gave, but I could see what they did. It was like a poker game in which I could not hear the betting, but I could see all the cards.

I did not know it at the time, but later, as I became more experienced in the stock market info market, I realized how invaluable this was to me. Of course, the poker players would try to mislead me with words, and they would not show me their cards. But if I did not listen to their words, and constantly watched their cards, I could guess what they were doing.

At first I tried to practice on paper without investing any money. But I soon discovered that working on paper was quite different from gaining actual stock market info. It was like playing cards without any dollars in the pot. It had as much savor and excitement as bridge at an old ladies' home.  

 

This article is actually only a small snippet of Nicolas Darvas' work...

"Discover The Original Method Of Nicolas Darvas... The Young Dancer Turned Investor Who, Within 18 Months, Turned $25,000 Into $2,000,000"

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