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This is not the place to go into these
things. As a generality any horse can make it around the track. Some
are better than others. The fact that almost any method scrutinised to an
inch of its life coupled with money management speaks volumes for money
management. By money management I mean simply GET OUT when it
doesn't go you way from the start. I'm my own worst adherent of this
one. Why is it so important to be able to get a time and price from
a single high or low? Would anybody seriously invest 5% of their wealth on
a single data point? So what's the point?
I've had a go at Gann and the problem is for
me that its not IMNSHO even as useful as my favourite P&F. Not only
does it not have timing but it doesn't give any sense of "storing of
energy". I've thought that a 3D square where time spent at a price
accumulated vertically might be useful. But my biggest problem is that it
doesn't seem grounded in anything substantial. Even Fibbonacci seems
to be reflected or grounded in some natural mathematical order. At best if
Gann provides a set of definite rules that are adhered to maybe that's its
strength or best point.
I've read almost "Truth of the Stock Tape"&
"Wall Street Stock Selector" by Gann. My conclusion was that the markets
in his day were different and he applied a great deal of unknown but appreciable
sub-conscious pattern recognition and judgement to his work - at least I think
so. Interpretation still has plenty of scope. Gold may well have fit
within $0.50 but I'm also sure that someone's RSI, or MACD or whatever had
settings that hit it too.
I spent a bit of time in misc.invest.technical and
misc.invest.futures newsgroups and of those whose opinions and experience Icame
to believe was based on solid years of experience, they didn't have much
kind to say about Gann compared to other approaches. I suggest a vistto
www.deja.com and and see Hershey for
example.
I suggest that multiple tools operating in
different time frames, an awareness of the inherent lags or anticipatory nature
of the tool/indicator/oscillator/chicken entrails coupled with MM will do the
trick more than GANN.
But the beauty is....its your money...anyone can
play ....nobody is right absolutely...
now if only I could figure out how to apply
sectors, markets and industries (or is that markets groups and sectors) to
stocks in Amibroker I'll be right.
P
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
wavemechanic
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, May 24, 2001 12:45
AM
Subject: Re: [amibroker] Vertical
Lines
Server:
You are confusing a Gann Square with a Gann Square
of 9. I am not trying to generate a Gann Square of 9 on a chart, but a
Gann square based on the Square of 9.
I am curious, however,
do you have any evidence that
either is a "bunch of crap?" Do you know how to generate a square
or even use it properly? Do you have another technique that generates
time and price from a single high or low point? The attached is a recent
example of the square for gold from the 4/2/01 low. The 180 degree level
is 289 and the actual was 288.5. The square in time is 16 and is one day
off. Do you have anything that could make these projections based on the
4/2/01 low? Would love to see a valid alternative.
Could other TA have made similar projections.
Probably. Does this mean that I don't use Gann stuff - no. I use
anything and everything that works.
I am not a Gann defender, nor an Elliott or
Fibonacci or anything defender. If you have a defendable basis for
rejecting a particular methodology then please share it with the group.
Otherwise, one might get the impression that your opinions are totally
subjective in nature.
By the way, although I am not a student of Gann, I
have read that when he died he had $50MM in an offshore bank that was shielded
from his family or at least some of them.
Good luck in your trading.
Bill
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=winchp@xxxx
href="">server not recognized
To: <A title=amibroker@xxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, May 23, 2001 5:10
AM
Subject: Re: [amibroker] Vertical
Lines
I've never seen such a thing. Gann
squares are usually a table drawn by hand in a spiral where the key dates
are those at certain angles of the square (or hexagon). Numbering
starts at the centre and radiates outwards in a spiral. When a price
is hit at say the 90deg radial then usually it means the next stop of is
another quadrant angle such as 45, 180, 270 (from memory). So whatever
price was at that point is the possible up/downside.
Frankly I think its a bunch of crap.
Plenty of newsgroups don't give this approach much credit and note thatGann
survived on the money from his family business not from trading. Or so I'm
told.
How its proposed to turn all this intoan
indicator I wait with interest - academic interest not serious trading
interest.
P
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=wd78@xxxx
href="">wavemechanic
To: <A
title=amibroker@xxxxxxxxxxxxxxx
href="">AmiBroker, yahoogroup
Sent: Wednesday, May 23, 2001 9:02
AM
Subject: [amibroker] Vertical
Lines
I am trying to build an indicator that will
generate a Gann square. The horizontal levels are OK, but I cannot
figure out how to draw vertical lines after calculating their
values. Does anyone know how this can be done.
BillYour use of
Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
Your use of Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
Your use of Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
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