BSD
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Nope.
But wouldn't bother either.
Starting out I had a look at some of his stuff and while some of his most basic albeit generic trend following methods were sound, the rest was just esoteric charlatanery whose sole purpose was to sell books and trading courses through getting gullible souls to believe that some (non-existing) holy grail exists which he had allegedly unearthed.
"Alexander Elder, in his book Trading for a Living, has this to say about Gann:
"Various opportunists sell "Gann courses" and "Gann Software." They claim that Gann was one of the best traders who ever lived, that he left a $50 million estate, and so on. I interviewed W.D. Gann's son, an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses. When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000. The "legend" of W.D. Gann, the giant of trading, is perpetuated by those who sell courses and other paraphernalia to gullible customers."
William D Gann
Just have a look at the hundreds, lol, of sites selling courses and whatnots on his material.
Do you honestly think they'd be selling courses for comparative peanuts if they could profitably trade his methods instead and get really rich ?
He didn't unearth any secrets which don't exist anyway, and thats why all his vendors are exactly that, vendors and not traders.
But wouldn't bother either.
Starting out I had a look at some of his stuff and while some of his most basic albeit generic trend following methods were sound, the rest was just esoteric charlatanery whose sole purpose was to sell books and trading courses through getting gullible souls to believe that some (non-existing) holy grail exists which he had allegedly unearthed.
"Alexander Elder, in his book Trading for a Living, has this to say about Gann:
"Various opportunists sell "Gann courses" and "Gann Software." They claim that Gann was one of the best traders who ever lived, that he left a $50 million estate, and so on. I interviewed W.D. Gann's son, an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses. When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000. The "legend" of W.D. Gann, the giant of trading, is perpetuated by those who sell courses and other paraphernalia to gullible customers."
William D Gann
Just have a look at the hundreds, lol, of sites selling courses and whatnots on his material.
Do you honestly think they'd be selling courses for comparative peanuts if they could profitably trade his methods instead and get really rich ?
He didn't unearth any secrets which don't exist anyway, and thats why all his vendors are exactly that, vendors and not traders.
Geofract
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Thanks Guys.
Perhaps I should clarify. I need to learn how I might use a Gann fan, and what it might tell me about the price action. Not looking for the Holy Grail though, I've already learnt that's not realistic.
The fact I can draw a Gann fan, and have it contain major angular S & R/trend lines does strike me as quite amazing. But understanding how I can use that information is key.
I have tried indicator setups, and they can be very good sometimes. But, a lot of people talk about understanding the Price, yet nobody explains what that means, at least in shorthand. I would like to understand the price, the patterns it makes, etc, and what that potentially means, rather than solely relying on indicators, and I believe the Gann fan is part of that story
I have read some TA books, but nothing that covers Gann.
Ultimately I need to understand where to exit a trade. Right now I can make reasonable entries, but I have no sensible idea where the exit should be!
Ollie
Perhaps I should clarify. I need to learn how I might use a Gann fan, and what it might tell me about the price action. Not looking for the Holy Grail though, I've already learnt that's not realistic.
The fact I can draw a Gann fan, and have it contain major angular S & R/trend lines does strike me as quite amazing. But understanding how I can use that information is key.
I have tried indicator setups, and they can be very good sometimes. But, a lot of people talk about understanding the Price, yet nobody explains what that means, at least in shorthand. I would like to understand the price, the patterns it makes, etc, and what that potentially means, rather than solely relying on indicators, and I believe the Gann fan is part of that story
I have read some TA books, but nothing that covers Gann.Ultimately I need to understand where to exit a trade. Right now I can make reasonable entries, but I have no sensible idea where the exit should be!
Ollie
BSD
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BSD
Veteren member
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I trade using gann tech analysis, and tbh the Gann Fan is as useful as a chocolate teapot, most of it's too complicated and packages put that many lines and indicators on a chart that your bound to pick something out to make you trade it
Only book i've read on the subject was 45 years on wall street, but his books aren't an easy read! There is plenty of free online material to give you a basic insight, no need to go paying anything out!
Only book i've read on the subject was 45 years on wall street, but his books aren't an easy read! There is plenty of free online material to give you a basic insight, no need to go paying anything out!
