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Readers reviews of How I made $2,000,000 in the Stock Market

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Daryl Guppy

This is quite simply a brilliant book. For me it is a timely re-visiting of the original purposes and methods that started me off in the market. Darvas succeeds in the market when he is removed from it as a result of his travel commitments. He understands the market only through the scant price information delivered to him by telegram. When I started trading I relied only on weekly price information for my understanding of market behaviour.

Darvas combined this emotional isolation with a rigorous stop loss approach. After trying hot tips and fundamental analysis he comes to realise that the market is not about being right, but about being profitable. The technical approach he uses is similar to aspects of point and figure, Renko and Kagi charting, although uniquely his own. It involves establishing the range activity of price and then searching for confirmation breakout conditions. It is well explained and the same principles apply to today’s markets.

This autobiography has a simple idea, and disciplined approach, and a very successful outcome. Although it is sometimes hard to get, it should be on every traders bookshelf.

Review and reactions from Ray Sandon

I ordered the book & eagerly awaited its arrival, then almost read it without putting it down. What great story & looking back to my introduction to the stock market there are many similarities. The first experience of making money without seeming to do any work, the search for inside knowledge from anyone that you come into contact with & the excitement of finding that everyone has stock to offer, the eventual realisation that those 'inside tips' are infact 'outside' & generally cost you money (why did I not remember the advice from 'Reminiscences of....')

Then the idea, common with ones experience of other work, that more knowledge must be the answer, thus subscriptions to: 'The Australian, Financial Review, Shares Magazine, Shares on Line, all the books, plus sign up for all the on-line brokerage sites which offer free research, join investment groups & attend all the meetings to learn the secrets from others who have 'found the answer' (the usual presenters seem to be those selling systems which show excellent results based on historical information)

But now you are not 'close enough to the market', so the race back to the computer five or six times a day to get up to date price data - but it does not seem to help & then there almost does not seem to be enough time to find new trades 'cause you are spending so much time researching, checking, analysing & agonising.........how can I be so wrong in hindsight! Until you either run out of money, loose interest, consider that its not for you 'cause you could not get the inside information.

This book can be ordered direct from Traders Library at discount rates.

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