I decided I would trade stock market quotes by doing the right thing first - follow what each stock market quotes behavior commands and care about taxes later.
As if stock 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 stock 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 stock market quotes I had been stopped out of, or any other stock 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 stock market quotes collapsed.
Of course all these opinions are expressed by hindsight - when it is too late. The advice to get out of the stock 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 stock
market quotes market when they began to happen. What fascinated
me, as Wall Street stock 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 stock market quotes market had changed - but I was already out of it.
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Original Method Of Nicolas Darvas... The Young Dancer
Turned Investor Who, Within 18 Months, Turned $25,000
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