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Thanks for the explanation Richard. I had no intention of offending--
I've just seen so many canned systems for sale with a Gann basis, it
stuck in my mind, having read Dr. Elders account of a first-hand
interview
with his son, who in essence said it was all a marketing ploy.
Like I said, I don't know much about Gann techniques, but after this
exchange, I'm going to look into them. It strikes me that the most
fascile minds often don't come across too well in the hastily-typed
format
of e-mail and it's easy to misjudge. (Witness Murray Math, which, for
all I
know, could be a terrific system, but due to the far-ranging discussion
of
just about *everything* from Victoria Secrets to....well....NAME IT <g>,
sounds like the ubiquitous net-ranting we come to avoid, in order to
achieve some measure of informational attrition. (i.e. There's just TOO
MUCH
good stuff to read these days !<g>
Thanks again for the explanation,
Dick Jurgens
Richard Estes wrote:
>
> A nerve was hit, when I saw the bit from Elder. I have recommended
> his book for years to beginners, but always hope they quickly move on.
> His little attack on Gurus is like clinton attacking womanizers. There
> is not a single person, who writes a book on trading that doesn't seek
> the guru status. Gann, if he never made a trade, conceptualized things
> about price and volume that has remained valid for nearly a century
> and will continue into the next. I see nothing gained by taking
> potshots at him.
>
> Now, while MSWIN is limited in its GANN/Fib tools, try this. Lets use
> APM because someone here had mentioned it. Take the 24/7/96 low draw a
> Gann fan, draw a Fib retracement from that low to high, 2/19/97. Now
> place a Gann fan at point horz to high and vertical to low, right
> click it and change rise to - sign. lets say you did that about 1/3/97
> when you knew that a major high was in. you could have drawn the
> first fan in sept 96 when you thought the low was in. it would have
> given you key areas of support and resistance on the way up, notice
> how it was contained between the 1x1 and 2x1 lines all the way up, you
> were assisted in identifying the topping action in Jan-Feb. by
> resistance found in 2x1 line. the run up between the two lines is a
> sign up a healthy stock. note how the lines come into play, the
> retracement and the Gann fans. now they assist in spelling out some of
> the action since Feb.. this first chart is a intermediate view. I will
> show other tools in follow on charts.
>
> The 2nd chart shows blue Horz lines at Gann cardinal numbers. do you
> see them offering support and resistance? the 3rd chart shows fib time
> lines blue from low red from high. note how many CITs they caught
> within one day or so. the 4th chart has additional fib retracements
> plus the 21 mar / 8 day cycle lines for cits those tied to cardinal
> numbers give a good picture for possible turns.
>
> I am tired, I hope the effort was worth it to all. Some will look at
> this chart called from random, I didn't even have it activated, and
> not see anything. others may see the ordained falling in of CITs and
> S/R. I can't teach anyone what I have learned in 29 years of TA. Get a
> book and work with the tools you have. A program like Advanced GET
> provides even more. Gann and Fib predict the other indicators only
> measure. predictions can be wrong but I will bet on them before I will
> anyone from a Net post, broker, CNBC, Analyst or what have you.
>
> -----Original Message-----
> From: Dick Jurgens <mobldick@xxxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> Date: Saturday, August 02, 1997 5:52 PM
> Subject: Re: [Fwd: Square of time]
>
> Hey Richard, check your chair there at the computer desk....Are you
> sitting on something sharp ?
>
> Richard Estes wrote:
> >
> > And What the hell does Elder know? A simple TA primer that rehashs
> > indicators that don't work well. His examples are futures, there is
> > only about 5 stock charts. But his book seem to be appropriate to
> the
> > level of TA knowledge expressed in this list.
> >
> > BTW: Where does Elder's money come from? Books? As I understand he
> > does not trade much, and if he used anything in his book, I doubt he
> > could be sucessful. You and others would do more for your accounts
> if
> > you applied GANN/Fibonacci to your trading. But I don't think many
> on
> > this list will.
> >
> > -----Original Message-----
> > From: Dick Jurgens <mobldick@xxxxxxxxx>
> > To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> > Date: Saturday, August 02, 1997 12:42 PM
> > Subject: Re: [Fwd: Square of time]
> >
> > Hi Frank,
> >
> > I'm not knowledgable about Gann techniques, but people keep
> mentioning
> > them here and there.......I've been trying to remember where I read
> > this, and yesterday I finally found it.
> >
> > Take a look at page 23 of the Elder book "Trading for a Living". Dr.
> > Elder recounts a personal interview with Gann's son, who said that
> > Gann
> > was unsuccessful as trader, but made a living selling his
> techniques.
> > He
> > died leaving only a house worth approx. 100k,......a far cry from
> the
> > claims of 50 Million that seem to persist.
> >
> > BTW, I'm not saying his techniques don't work....just that his
> legend
> > may be more of that, than fact.
> >
> > From what TM Murrey says, it works pretty good for Murray Math !
> >
> > Dick
> >
> > Frank B. Gaylord wrote:
> > >
> > > At 07:04 AM 8/1/97 -0700, Marco Guglielmo wrote:
> > > >Very strange: non body in the list is available to talk about the
> > Gann's
> > > >techniques;
> > > >Is it due they are out of time or they are difficult to
> understand
> > or
> > > >are so precious that who know does not like to talk about them?
> > > >
> > > >As far as for my knowledge the fundamentals of Gann's techniques
> > are very
> > > >interesting and I would be very happy in seriously learning his
> > methods.
> > > >
> > > >RGDS
> > > >
> > > >Marco Guglielmo
> > > >(Turin,Italy)
> > > >
> > > Marco -
> > >
> > > I, too, wish to hear more of Gann's techniques.
> > >
> > > -- Frank :-)
> > >
> > > High Return on Investment using Technical Analysis
> > > http://www.usinternet.com/users/fbg/
> > >
> > > Minnesota Long Distance Canoe Racing
> > > http://www.usinternet.com/users/fbg/mnlong/
> > >
> > >
> >
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