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----- Original Message -----
<DIV
>From:
server
not recognized
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, May 24, 2001 7:49
AM
Subject: Re: [amibroker] Vertical
Lines
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 isit
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?
As you note below, mutiple inputs are
important, although you incorrectly assume that I use only Gann. Gann
stuff is one approach that I use. Fibonacci is another, Momentum
is another. Etc. So for me Gann is just one of many tools, and
like Fibonacci is used as a heads up indicator. I do not invest on the
basis of any single indicator. And yes, money management is important,
but I like to start with the best indicator base that I can
find.
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.
You clearly do not fully understand
Gann when you say it does not have timing. Please refer back to theGold
chart. But your biggest problem is mixing up correlation with
cause. There is nothing you or I use that has a known cause.
Correlation? Yes, but not cause. As one learns in Logic 101,
establishing a cause requires a theory that accounts for observations better
than alternative theories. As a result, everything we do is in the
"voodoo" category since there are no valid theories (not correlations) for
MACD, RSI, Gann, Fibonacci, etc.
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 have read very few of the
original works of any indicator/system developer, including Gann, and just
sponge off of the digested output of the TA writers, as most do. But you
are exactly right about the value of other methodologies. That is why no
tool should be used alone, including RSI, MACD, Gann, Fibonacci, etc.
Very few use only one thing, but look for verification from many. In my
experience, Gann is one that is useful in this regard, and so far all you
have said that is that you do not believe. I have shown you evidence
that it does work. Always? No, but nothing does. Ihave
not seen anything presented by you that indicates that Gann has a poorer
win/lose ratio than any other indicator. Do you have such
evidence?
I spent a bit of time in misc.invest.technical and
misc.invest.futures newsgroups and of those whose opinions and experienceI
came to believe was based on solid years of experience, they didn't have
much kind to say about Gann compared to other approaches. I suggesta
vist to www.deja.com and and see Hershey for
example.
Most, like yourself, do not really
understand how to properly use Gann. As a result, their opinions are not
particularly important. Like you I used to spend time on the
"misc" boards, but did not find them worth the effort of shifting through
the "junk." There are much better places.
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.
Well as noted above, we agreeabout
multiple tools and time frames. But MM? You obviously are not
aware that MM is based on Gann's Square of 9. Time for a little
homework. Once again, please provide evidence for your statements about
the value of one methodology over another. You speak with such certainty
that I am sure you must have a valid statistical basis for your
statements. Please share them with us, or by direct e-mail, ifyou
do not want to post. Absent this enuf ced.
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
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----- Original Message -----
<DIV
>From:
wavemechanic
To: <A title=amibroker@xxxxxxxxxxxx
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 GannSquare
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 opinionsare
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
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----- Original Message -----
<DIV
>From:
<A title=winchp@xxxx
href="">server not recognized
To: <A
title=amibroker@xxxxxxxxxxxxxxx
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. Plentyof
newsgroups don't give this approach much credit and note that Gann
survived on the money from his family business not from trading. Or so I'm
told.
How its proposed to turn all this into an indicator I
wait with interest - academic interest not serious trading
interest.
P
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----- 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
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href="">Yahoo! Terms of
Service. Your use of Yahoo! Groups
is subject to the Yahoo! Terms
of Service. Your use of Yahoo! Groups is
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