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<DIV><FONT size=2>...Gann and Gilmore's enormous fortunes. Gann, who
allegedly made $50<BR>million in the 20s-30s trading futures, would have a
fortune of $1.6 billion<BR>if it earned 6% from then until now. Where is
all this money? Gilmore has<BR>been around selling books, seminars, and
programs for over 10 years. He has<BR>obviously sold tons of them as it
has kept him alive. Out of all of those<BR>students, why are none of them
big time money managers today? I am looking<BR>for one disciple.
Before anyone starts in on the regular retorts, which I<BR>ADMIT have SOME
merit, do not forget that 15 years ago Dennis and Eckhardt<BR>taught their
methods to 24 people and 4 of them are among the largest CTAs<BR>in the world
today. Both the teachers are too. How many gazillions of<BR>people
have read Gann books and Gilmore's stuff? Are any of them
successful<BR>CTAs? Out of all the authors and experts on Gann, why are
none of them<BR>money managers? Why do they continue to sell books?
I could see selling<BR>some to finance a trading nest egg, but the authors and
names are the same.<BR>A lot of them do well in letter writing contests and some
even win little<BR>trading tournaments. I don't doubt that there will be
multiple replies to<BR>this talking about the author's 600% return in two weeks
after drawing a<BR>Gann angle (which by the way crosses different points
depending on the size<BR>of your graph paper and how much you assign to each
box.). None of those<BR>repliers will have been successful over 10
years. None will have an NFA<BR>audited track record. They will be
plenty mad and plenty sure of<BR>themselves.<BR><BR>There are certainly an
infinite number of ways to make money in the markets.<BR>I am open to the
possibility that ANY type of method could produce an edge.<BR>I'll test
anything. Some of you should perhaps open your mind to the<BR>possibility
that Gann/Gilmore/Elliott Wave/Time and price etc. do not create<BR>an edge and
merely produce random trades. Many of your successful examples<BR>are the
ultimate form of curve fitting.<BR><BR>sb<BR><BR></FONT></DIV></BODY></HTML>
</x-html>From ???@??? Wed Dec 08 17:28:30 1999
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Date: Wed, 08 Dec 1999 15:57:00 -0800
From: Ira Tunik <ist@xxxxxx>
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Subject: [RT] Re: RT] [realtraders] S&P and Nasdaq S/R for 12/09/99 + Background
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Status:
It is always an advantage knowing what the other guy is looking at. It helps
write and entrance and exit scenario. Ira.
"Dr. John Cappello" wrote:
> Background:
>
> These posts started several months ago after I had done a year of research
> on the utility of support and resistance numbers in trading volatile
> markets.After reviewing about 25 methods I set upon one that I thought
> encouraging.
>
> I then sought others on this list who use S&R in some form or another to
> share numbers without any obligation to share methodology.What I have found
> is there are a good number who use this method and like to have confirmatory
> or non-confirmatory data to compare and use or not as they choose.
>
> That being said I trust it will help those new to the list on the purpose
> and intent of these posts.
>
> >>The S&P closed at 1405.4 vs. 3165 for the Nasdaq.Numbers for
> >>both appear acceptable.These are still Dec. contract since different
> >>people have different rollovers.Give me some consensus and I will adjust.
>
> >>By request:
> >>S&P
> >>
> >>Level 3 R=1419.2....S=1391.6...Drop dead Sell and Buy points.
> >>
> >>Level 2 R=1412.2....S=1398.6....Stop loss points or reversal if strong
> >>break
> >>
> >>Level 1 R=1409.2....S=1401.6....Sell and Buy stop points
> >>
> >>I believe the ideal opening trading range to be 1401.6 to
> >>1412.2.
> >>>>Nasdaq
> >>>>
> >>>>Level 3 R=3233............S=3097......Same descripton.
> >>>>
> >>>>Level 2 R=3202............S=3128......Ditto
> >>>>
> >>>>Level 1 R=3183............S=3147......Ditto
> >
> >>DESCRIPTION:Level 3 are points if reached have a high probabiltity for
> >>profit if sold at R or Bought at S. Level 2 are stop loss points if you
> >>enter at level 1.They are also breakout points if penetrated.Level 1
> >>assuming we openin the range are buy and sell points.If out of the range
> >>no trade.
> >>
> >>John
>
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