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A few years ago when I subscribed to Prodigy, there was a posting on Gann
by someone who said tht he had interviewed his widow.
He quoted his widow as saying that Gann made most of his money from selling
his courses not from the market, that his son who was in finance or was a
broker (I forget which) would have nothing to do with his father's methods.
He also quoted the amount of Gann's estate when he died, it was in the $50K
range.
Prices have gone up about 10+ times since the 1950's when Gann died, so his
estate in todays $s would be about $500K, large but not a very large amount
at all.
If Gann had been a really great a trader he would have wound up owning the
whole country or the world. The anecdotes about his abilities are not
confirmed by the facts of the actual amounts of money he made!
I have met a few traders who use some so called Gann methods. They use
them as other indicator(s) only.
There is no holy grail, no golden rule, no secret methods, no substitute
for hard work, high school math wont cut it. The methods/ideas posted on
this listserver are very useable and workable. My thanks to all the
contributors.
Jesse Livermore, a noted trader, never gave any courses, rarely gave
advice, and made and lost several large fortunes. He wrote only one slim
book "How I Trade in Stocks".
Regards
Lionel Issen
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