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As a fundamental investor I have learnt to use charts to find price action and volume. I use LEAP options where I can or if buying the underlying stock I use limited leverage with trailing stop losses. The Darvas system is similar to my trading and after reading this book I believe I have learned how to improve my trading but ultimately like Darvas if anyone wants to learn how to invest and trade successfully there is no substitution for live trading with your own money, not dummy accounts.
What did you like best about How I Made $2,000,000 in the Stock Market? What did you like least?
The story and the reading of the story are fine. However, there are paragraphs omitted, even pages in some areas. This, at least to me anyway, is not what 'UNABRIDGED' means.
I found that some of the abridged paragraphs contained interesting insights from the author and not something that I would have skimmed over if I were actually reading the printed version.
If you're going to put the words 'UNABRIDGED' on an audiobook, don't remove anything.
21 of 22 people found this review helpful
I really enjoyed listening to Nicolas's story. A bit of luck launched his investing career. Repeated failures almost ended it. Determination, self examination, and lots of hard work led to eventual success and a repeatable method to consistently make money in stocks.
As I listened to the story, I could see elements of Reminiscences of a Stock Operator by Edwin Lefevre, Market Wizards by Jack Schwager, Rule #1 by Phil Town and How to Make Money in Stocks by William O’Neil. What Nicolas discovered was that to make money in stocks, he needed to 1) find the right company and put it on a watch list; 2) wait for the stock price to start moving up before buying in; 3) always protect the downside by placing a protective stop, 4) sell losers and keep winners; and 5) sell when the price stops going up.
Nicolas's “box” method is very close to the Turtle trading method. It can work spectacularly well, but it does require discipline. He made money as long as he remained disciplined. He lost money when he failed to be disciplined. Excellent story, great message, I highly recommend this listen.
17 of 18 people found this review helpful
Good book to listen to. Good techniques to learn for beginners and experienced traders. Recommended for everyone.
Nice learning story but unnecessary price, # of shares, profit quotations. As other reviews, it would have been enough by saying I made/lost a total of X amount. 30-40% of the book are figures quoting