So, who is Nicolas Darvas and what did he do that was so special that we felt compelled to create a website about him?
Nicolas Darvas was a world famous American dancer back in the mid 1900’s. After making a profit in some stock of a Canadian mining firm (which he bought from the proprietors of a Canadian dance venue), Darvas was hooked on chasing a quick buck in the Stock Market.
Like many before him, Darvas was convinced that having made an initial profit, he was some kind of natural born stock market speculator. However (again like many before him) Darvas took loss after loss on the Canadian stock market after buying in and out of the market on the advice of brokers and newsletters.
Telling himself that the Canadian Stock Market was for small fry, he changed course for the New York Stock Exchange. Here (again) he took loss after loss, buying in and out of the market on the advice of brokers and newsletters. Always seemingly buying at the high - then witnessing a sharp retracement - and selling at the low.
Sick of buying on the high and selling on the low, and in a fit of desperation, Darvas ploughed his money into a couple of stocks that that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a rare profit.
Nicolas Darvas decided to regroup to assess this remarkable occurrence. And it was here that Darvas came up with his plan for trading stocks that was to see him achieve a multi million dollar fortune in just a couple of years.
From now on Darvas would execute his famous trading plan. Selecting stocks with new 52-week highs and suitable spikes in volume coupled with favourable fundamental company research.
This method also showed Darvas remarkable insights into a stocks price behaviour, often revealing the signs of ‘inside buying’ before a companies release of favourable news to the public.
After accumulating his fortune, and also being exposed in Time magazine, Darvas was to document his actions in the book How I Made $2,000,000 in the Stock Market, which of course, is well worth a read if you too are interested in learning more about his techniques.
Let me tell you a little bit about this man and why he had such an impact. It’s truly an inspiring story...
Before Darvas came to America, he studied economics at the University of Budapest.
During World War II, he fled Hungary for Turkey. Until 1951, when he emigrated to the United States, he trained with his half sister, Julia, to be a ballroom dancer.
Over the next few years, Darvas and Julia became the highest paid ballroom dancing pair in the United States. The pair became so successful that by 1956 they were touring the world.
While on tour a Toronto nightclub owner could not pay Darvas in cash, so he paid him with three thousand shares of a Canadian mining company called Brilund. Almost two months later, the stock tripled and Darvas made a tidy profit.Nicolas Darvas was a world famous American dancer back in the mid 1900’s. After making a profit in some stock of a Canadian mining firm (which he bought from the proprietors of a Canadian dance venue), Darvas was hooked on chasing a quick buck in the Stock Market.
Like many before him, Darvas was convinced that having made an initial profit, he was some kind of natural born stock market speculator. However (again like many before him) Darvas took loss after loss on the Canadian stock market after buying in and out of the market on the advice of brokers and newsletters.
Telling himself that the Canadian Stock Market was for small fry, he changed course for the New York Stock Exchange. Here (again) he took loss after loss, buying in and out of the market on the advice of brokers and newsletters. Always seemingly buying at the high - then witnessing a sharp retracement - and selling at the low.
Sick of buying on the high and selling on the low, and in a fit of desperation, Darvas ploughed his money into a couple of stocks that that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a rare profit.
Nicolas Darvas decided to regroup to assess this remarkable occurrence. And it was here that Darvas came up with his plan for trading stocks that was to see him achieve a multi million dollar fortune in just a couple of years.
From now on Darvas would execute his famous trading plan. Selecting stocks with new 52-week highs and suitable spikes in volume coupled with favourable fundamental company research.
This method also showed Darvas remarkable insights into a stocks price behaviour, often revealing the signs of ‘inside buying’ before a companies release of favourable news to the public.
After accumulating his fortune, and also being exposed in Time magazine, Darvas was to document his actions in the book How I Made $2,000,000 in the Stock Market, which of course, is well worth a read if you too are interested in learning more about his techniques.
