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Know how an Average Trader made a Million Pounds from Market

Posted By On 8/08/2009 11:15:00 PM Under

One can say that with technology at an individual foot step; each one of us should be atleast a millionaire from the stock market as a trader by name of Nicolas Darvas managed to grow a $36,000 investment into more than $2.25 million in a three-year period and same can be attributed to his using the common technique of reading from newspapers namely Barron's, a weekly newspaper and sending telegrams to his brolker to obtain the stock quotes. He was an expert in identifying trading candidates and he looked for stocks breaking out of narrow trading ranges on high volume.

The box is created when the stock trades within a rectangle formation. This is characterized by prices trading within a narrow range for at least three weeks.Stocks should be sold when the price breaks below the bottom of the highest box.

The buy should be taken at the market's open the morning after the stock closes outside the box by at least half a point on a volume that is greater than the average 30-day volume. The initial stop should be set a quarter point below the lowest price of the box. It should be raised as new boxes form, always a quarter point below the low.
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