|
PureBytes Links
Trading Reference Links
|
At 06:03 PM 12/30/99 -0700, Brent wrote:
>That is one of the problems with Gann, when do you stop becoming a student
and become a master of Gann.
>
>Brent
>
Dear Brent:
When man writes he may have many things in his mind but only the text is
produced from his hand. And when the man is gone all is left is the text he
has written. Most of what is survived from Mr. Gann is published (I
presume). We are left to understand his writings.
Now come in the next generation of writers that describes how they
understand what Mr. Gann has said and what Mr. Gann had in mind. Than would
never stops as long as people remember Mr. Gann and as long as it is
beneficial for the new writer to associate himself with Mr. Gann ("I and
Gann...") and there are buyers of such writings.
What should we do with Gann writings? Gann did not write much. If you have
read his books and courses you could outline his principals on not many
pages. The rest is applications (and repetition) of those principals to
stocks, cotton, wheat, eggs, etc. When you have the Gann principals written
down you can compare them to other previous and contemporary to Gann
writers to find out what was original to Gann,and what was the adaptation
of known in his (Gann) time wisdom. Then you could compare Gann's
principals with following literature. For instance "... never risk more
than one-tenth of your capital on any one trade" is now a separate field of
money/risk/position management.
What would we incorporate from Gann into our understanding of the market
and out trading? That depends on us. Gann did all he could and would no
more. We may get nothing from him or something. We are students of Gann as
long as we get something new from his writings and we are masters of Gann
if we incorporate some of his original principals to our trading.
As with all "classical" writings Gann is very inspirational. If you
discover something after reading his books you should say you were inspired
by Gann but you are not any longer his student, you are original thinker
(no more then Newton could be called the student of apple).
Overall it was an excellent question. I often ask myself when I will learn
anything. The answer is not promising...
Bewildered Alex.
|