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How I Made $2,000,000 In The Stock Market Paperback – February 1, 2001
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"Rebound" by Kwame Alexander
Don't miss best-selling author Kwame Alexander's "Rebound," a new companion novel to his Newbery Award-winner, "The Crossover,"" illustrated with striking graphic novel panels. Pre-order today
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This book provided some very good information about strategy - when to get in, when to get out - essentially how to limit your losses and increase your gains. Well, at least as was the experience for the author. I think it is a good read because it does give a different perspective than from the typical "how to." Being able to hear different experiences should give enough background for different things to consider and pitfalls to avoid. I like to be well-informed before determining which path I will take and what method I will use.
First, let me get my criticisms out of the way:
On this particular Kindle version, there appears to be many textual anomalies. They do not make it unreadable, but they are distracting.
I don't believe Darvas fully divulges his stock picking strategy. Without that, a lot of the book was meaningless to me.
Now the positives:
I really was floored by how insightful this man was into trading, especially when it came to what I would consider a topic which resonates today: information overload. This man specifically regimented himself to only receiving updates through telegrams, and he was still able to trade the markets successfully. If this isn't a case against trading off CNBC, I don't know what is, and was very surprised to find this here. I found this to be worth the price of the kindle download alone.
For me, it wasn't a huge negative to discover Darvas traded off price breakouts, and used a stop loss strategy. When I read the other negative reviews, you can almost read between the lines that they were expecting some secret potion, or something they haven't heard before that'd answer the question for them, and make them billionaires overnight. There is a basic principle in life about learning and it's this: Information you may read either supports and reinforces an existing belief, or may challenge and change a belief. HOWEVER, if it reinforces, it's actually better, because it means you're on the right track. If you are looking for a magic bullet, you are probably never going to find it. Don't be afraid to hear what you've heard before. If it's in a different voice or different experience, it is just further evidence you are doing the right thing.
Two thumbs up on philosophical trading content
Two thumbs up on the technical aspects of implementing trades
Two small thumbs down on kindle version
Two thumbs down on position sizing and pyramiding strategy (seemed very discretional)
Two thumbs down for clarity on his stock screening methodology (wasn't clear how he picked stocks)
I am going to try to employ some of this methods to see if my results improve. Overall definitely a five star book.