Markets are always changing. It is healthy to have doubts that methods written several decades ago can still work today.
Linda is so right, if you a good trader they are making tons of bucks. The BEST Hedge Fund guys make over a billion dollars in a year and they not even beating the Indexes, this is the way to go to play the game even better. Am guessing Linda got tired of dealing with people who think standing near her the knowledge will easily roll onto others, educators can show paths, but people still have to put in the 10,000 hours of screen time to fully understand. No easy road to reading charts. Don't remember the years, but saw her couple times when she was doing Trading Expo's, liked some of her material.
I knew I had heard someone say Gann had syphilis when he went off into spirals and magic stuff! My old assistant was playing that interview. She is a Linda fan. Pick something simple and do it until it is second nature. Nothing complicated about trading.
The book is legit. This used to work. But you need to turn the clock back at least 20 years to make monew from this strategy.
More than that actually: https://www.zerohedge.com/news/2018-02-06/xiv-trader-loses-4-million-and-3-years-work-here-his-story
Yes its a great book with solid ideas! Its saved my butt from these wild price swings and I thank him for his ideas. He's long dead, thank you Nick! You follow stocks hitting All Time Highs like ADBE, INTC, MU, ANF BAC, JPM, MS, AMTD and hold as their earnings continue to blow away expectations! Nick saw things others did not, what a great guy!
Of course. A box is a consolidation, usually sideways... a period of indecision. When price breaks out of the box, it shows it's no longer uncertain. (Doesn't mean the breakout will stick or lead to anything big... just that the psycho has changed for now. That's all you can know at the time. The rest has to be evaluated on the fly.) "Can someone make $2MM in the market"? Yes. It's not like hitting the lotto or anything, but over time with compounding.... you can get better at trading (which also means "more consistent and therefore safer") and build your capital to the point of making lots of money... including $2MM. (I started my investing career with a $25/mo bank draft into a mutual fund.) X.. I didn't mean this comment for you but rather for OP and other readers... was just easier this way
"it could find "ascertainable" profits of only $216,000" "Time also reported that state investigators admitted that they had not been able to track down all of the dancer's brokerage accounts." So even if he made "only" 216K, that is 1950s money! A dancer!! But he traded in this environment: "From the week ending 12/16/1957 through the week ending 7/27/1959, the S&P 500 rose over 53%. " The dollar was worth 8-9 times more in those days. So it is like someone today making 2 mill, going only long in stocks... (no option or futures) I am not sure about margin useage, I assume he had to use some... His starting capital was under 25K, so he still made a 900% return in 18 months if we only accept the 216K as profits.
Darvas did well picking stocks in a bull market. He stayed out when the Dow would start to go down. His system was pretty much long-only trend-following with a trailing stop. But I'm not sure that Darvas' technique is even relevant to most of the traders I see on ET and elsewhere. Seems like everyone is trying to get rich quick by daytrading and then closing their positions before the end of the day. Darvas didn't do this at all. He was a swing trader. Maybe Darvas was lying but his claims seem credible. He was for sure lucky that he chose to trade during a bull market.