The realization that I had all this money came to me with startling suddenness.
Every fiber in my being seemed to be saying, Sell, sell.
It was the biggest temptation in the world to sell my tech
What should I do? Would the tech analysis option rise still higher
- or should I take my profit and get out? Perhaps it wouldn't rise
any higher - there might be a fallback. It was a terrible dilemma,
the old one of when to sell my tech analysis option much magnified
because of the large amount of money at stake. If I did the right
thing here, it would change my whole life. If I did the wrong thing,
I would regret it forever.
I felt very alone. No one on earth could give me any advice on what to do in with my tech analysis option. I decided to go out and have a few drinks by myself and consider the situation. Before I went out, I sat down at my dressing table and wrote on a little card, "Remember BRUCE!" I thought this would remind me of what I had learned in the past.
As I wandered around Paris, I kept fingering this little card in my pocket. Every time I felt like sending a cable to my brokers telling them to sell THIOKOL, I pulled out this card, looked at it and hesitated.
Finally, I decided not to sell my tech analysis option. It was the best example of my new market technique and it was anything but easy to do. By the time I arrived back at my hotel I was exhausted. I must have looked more like a man about to commit suicide than one who had just made himself a small fortune by trading tech analysis option.
But I was proved right, THIOKOL continued to rise and by making that decision in Paris, I was able to hold on and make much more money out of the tech analysis option.
A few weeks later, in January 1959, I returned to New York. When I landed at Idlewild Airport, I was holding 6,000 THIOKOL and 6,000 UNIVERSAL CONTROLS. They were both doing very well indeed, THIOKOL was standing on the 100 mark and UNIVERSAL CONTROLS had risen to 45.
In New York, my first appointment was to see my brokers and discuss my "Wall
Street dealings with them. They told me that, according to their
books, my tech
analysis option had made me well over half a million dollars.
I felt elated, confident and successful. I booked myself a room at the Plaza Hotel and decided that during my stay I would continue my option-market dealings from close quarters.
How little did I know I was preparing to make a complete fool of myself. Within the next few weeks I was to bring myself within whistling distance of ruin.
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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