How I Made $2,000,000 in the Stock Market

by Nicolas Darvas

should rather hold on to one rising stock for a longer period than juggle with a dozen stocks for a short period at a time.

that if I studied price action and volume, discarding all other factors, I could get positive results.

There is no sure thing in the market—I was bound to be wrong half of the time. 2. I must accept this fact and readjust myself accordingly—my pride and ego would have to be subdued. 3. I must become an impartial diagnostician, who does not identify himself with any theory or stock. 4. I cannot merely take chances. First, I have to reduce my risks as far as humanly possible.

learned from experience that my most difficult problem was to discipline myself not to sell a rising stock too quickly.

inexplicable moves in my stocks usually coincided with some violent move in the general market.

experience I gained through my cause-of-error tables became one of the most important of all my qualifications.

visited no board rooms, talked to no one, received no telephone calls, watched no ticker.