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

Discussion in 'Educational Resources' started by Saltynuts, Mar 8, 2018.

  1. Is this book legit? Can you really clean house on Wall St. by drawing simple boxes on your stock chart and buying when the price rises out of the box, selling when it drops back into the box? That easy?
    JesseJamesFinn1 likes this.
  2. Yes, breakout trading works.

    The question is can YOU.
    VPhantom, _eug_, dealmaker and 3 others like this.
  3. Xela


    I think you can, if you know what you're doing, and have behind you both the many hundreds of hours of focused, appropriate education and the many thousands of hours of screen-time experience needed for any kind of long-term successful trading.

    Far from easy, though the underlying concept is undoubtedly, in itself, a well-grounded and realistic one.

    The devil, as with everything simple-sounding, in trading-related contexts, is always in the detail.

    If you want an interesting, easy-to-read summary of the practicalities of all the principles involved, I strongly recommend Bob Volman's two books. Both are readily available, though neither is about Wall Street or about even stock-trading (but that doesn't matter at all.)

    I think Volman also still makes available (free) for his readers his own charts, at the end of each week, distributed via Dropbox (he certainly used to, anyway) ... but you'll need to read the books first, to understand the charts: they're not a substitute for the books.

    A substantial chunk of one of the books is available free, as a PDF download, on the author's website, if you want a "taste".

    Much of his trading is based on "box breakouts", which are a specific sub-category of "price action trading".

    Sorry - no idea. I haven't tried it (the title put me off) though maybe I should?!
    Last edited: Mar 8, 2018
    VPhantom, MACD, Jaydom and 2 others like this.
  4. tommcginnis


    There is nothing legit, unless the author can specify beforehand, when the box is to be drawn.

    This is Eliot Wave bullshit for the math-challenged.

    A post hoc genius who's cashing in.

    ironchef and lovethetrade like this.
  5. Well you do need to establish important levels and make sure there is clean air up to the next once it has broken out & retested and such. No good going long when you are an inch from the ceiling.

    Wave counting is a bit too arcane and fibs.. I'm told (by someone who has made money however.. only two years experience) they often work well on Cryptos on the common time frames as it is still a naive market but they also kill you.

    Between price moving between areas and mean reversion, a trader can do well with a few thousand hours of screen time and a good brain.
    birdman, VPhantom and Xela like this.
  6. But if that does not work than you can still use one side of a box to make money. ;)

  7. I think we have an epidemic of silly questions here. Getting old.
  8. dealmaker


    Any system with positive expectancy and sound risk management can make money but as Linda Bradford Raschke has said no one making substantial money in the markets writes a book.
    "How I made $2,000,000 in the Stock Market" was written by Nicolas Darvas and his claims were fraudulent and he was sued by the NY Attorney General.
    eo1989 and Slartibartfast like this.
  9. JSOP


    Agreed. Depending on how and where the box is drawn. A clock that's broken still chimes correctly twice a day <-- Watch the movie "Darkest Hour", ABSOLUTELY awe-inspiring!
  10. JSOP


    And he's already dead in 1977! :wtf: He was born in the 1920's and he was able to make $2,000,000 through all the stock crashes and depression? LOL
    #10     Mar 8, 2018