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Brent wrote:
> when do you stop becoming a student and become a master
> of Gann. Norman W. told me that he has studied Gann for about 25 years. If
> it takes 25 years to understand Gann I can't wait that long.
Brent,
You may want to read "45 years in Wall Street" Thou many consider Gann a
master, he himself always said you must continue learning. Claiming that there
was still more to learn, before he died.
>
>
> Also I'm not going to read the approximately 5000 books that Gann
> recommended either. It's hard to believe that anyone actually brings all the
> bunk about time, numerology, angles, astrology, etc. etc. to bear on actual
> trading.
You should see some of the charts I do, just to place a trade. I don't use
astrology yet, but I use a lot of other things that Gann taught. Some may think
its crazy but I'm at peace with knowing approx. were support and resistance
maybe.
> I think that I am getting a handle on
> some of this simple method and it might even be something that can be done
> mechanically. The note I posted before about his being a swing trader and
> using his EOD analysis as a back drop lends support to this idea.
The process taught by Gann can NEVER be mechanical. (IMO). On page 18 it
says:
" A wise man changes his mind; a fool never. A wise man investigates and then
decides, and a fool just decides. In Wall Street, the man who does not change
his mind will soon have no change to mind."
But one thing that can be made mechanical is the stop loss, which is repeated
many times threw out the book.
>
>
> It seems that every body that pays out big bucks to buy (over priced) Gann
> courses turn around and then go into the business of selling it themselves.
> Buyer beware, there is a lot of scams, shams and rip-offs out there
> associated with Gann.
>
I can agree with this, for a while many of us were talking about "Dynamic
Trading by Robert Miner". After further study, IMO Robert Miner only covered
~20% (very generous) of Gann's work. And in the current issue of Traders World
Magazine (which I'm not happy with) there are some who advertise some very
outrageous claims.
Example: "What are the keys to finally understanding Gann and Elliott?" Its an
mechanical black box system. At the bottom of the page it says " Know which 90%
of Gann or Elliott's work to AVOID."
Happy New Year,
Joe Frabosilio
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