A Made-Up Story That Explains Something That People Do Understand The Nicholas Darvas Story Exposed

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The Nicholas Darvas Story Exposed

What do you know about Nicholas Darvas? The Trading wiz who turned $25,000 into 2 million by scanning the newspapers in just fifteen minutes during the late night & early morning, period? Read on for a discussion between two well known traders about his story.

After his initial purchase Darvas got all excited because he made money on that, he was trying to learn but he didn’t want to sound stupid when he was talking to his broker. So the broker would be saying things and he wouldn’t speak up, he would just go along with it and act like he knew what was going on.

It didn’t take all that long until he realized that doing that was really costing him. When the bull market ended and not every hot tip ended up making money that’s when he learned that he needed to know what was going on. He couldn’t stand back and act like he knew anymore. He really did need to know what was going on, so he could figure out what was good advice and what wasn’t. That was one of his very first lessons. He learned it the way a lot of people do, through losses. He didn’t like that.

Reading these lessons that he’s learned, I get the real feeling that these are such big lessons and I’m not too sure if everybody understands them. Sure they can be applied to the trading side of things but really it works with absolutely everything in life.

What I’ve found is, if you don’t understand a particular thing you might be talking with somebody about or you’re reading or whatever the case may be, when you come to a point where you don’t have an understanding, unless you get that clarified, any new information that is coming on board beyond the point of not understanding, you just don’t take it in. You’re still stuck mentally back at the point where you first didn’t understand.

Nicholas Darvas, from this point, really learned that you need to ask those questions and you always need to be inquisitive and this isn’t just for trading, it’s for anything, especially for wealth creation stuff. You always need to make sure you fully understand, otherwise you won’t grasp the bigger concepts that come after that because you didn’t get your fundamentals right.

There obviously a difference between calculated risk and gambling. When you don’t really know what the outcome’s going to be, and you’re just hoping, based on some odds, or a hunch, you’re gambling. But a good trader does understand how things work and has a good understanding of the possibilities of every trade they get into and how it can play out. So you’re taking a calculated and reasoned risk. That’s what really makes the difference. The key to risk control is having a good understanding of how things work and where your real potential risk is.

I’ve seen that time and time again with many clients. When they have that real big breakthrough, the breakthrough is once they start to manage that risk and understand fully what it is that they’re doing rather than just flying by the seat of their pants.

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