|
PureBytes Links
Trading Reference Links
|
Michael,
Not because they don't have to, because they don't want to, study. I agree with
the rest of what you said, just remember history repeats and most never learn
anyway.
TradeWell,
Joe Frabosilio
Michael Mangiafico wrote:
> At the risk of getting attacked for this statement, I will do it anyway.
>
> Norman,
>
> the main reason people are not interested in putting in hard work is becuase
> they don't have to.
> I put in a great deal of hours in my work, and I had a respectable return
> last year. My father-in-law put in no work, he just loaded up on technology
> stocks that he read on the front page of the WSJ. Every dip, buy more,
> simple and exceptionally profitable. He was up over 100% last year, which
> bested me by a good amount. Some day this won't work, and at that point
> people will understand this really is a complicated business. Right now,
> people want 10% returns in 3 days, and they are getting just that, with no
> research, just go long on the dip. I don't believe in this, and I try to
> explain the risk involved, but then again, the CAPM is old and new rules
> apply.
>
> -----Original Message-----
> From: nwinski [mailto:nwinski@xxxxxxxxxxxxxxx]
> Sent: Monday, January 10, 2000 6:44 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Cc: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Re: Gann the method
>
> Brent wrote:
>
> > Norman is probably our most knowledgeable person on the subject of Gann.
> > While Gann was definitely into Astrology I don't think that he discounted
> > everything else to the extent that Norm does. He sure doesn't make
> astrology
> > his starting point in his books. Ok, so it is hidden in there, if he were
> > honest I would think that he would at least say as much.
>
> NW: Thanks for the compliment.
>
> Of course Gann doesn't make Astrology his starting point! Gann was a
> very smart guy. Any mention of Astrology gets you labeled a kook and greatly
> limits the market for any courses of books you may want to market. Gann
> didn't
> get $5,000 for his course because people thought they were taking an
> Astrology
> course. They paid five grand to get on the path to riches. Gann would teach
> them
> market methods that certaionly would help them, but along the way, he
> filtered
> out the less enlightened students
> who weren't willing to do the necessary research and study. He shared the
> "hidden treasure" with only
> those few who could past his rigorous requirements.
>
> Along the lines of market masters being secretive, I think that was
> not
> unusual for Gann's generation. I think I mentioned in an earlier post about
> my
> now deceased friend Renato (Reno) Alghini,
> who took the Gann course when Gann was still alive. Reno told me that he had
> met
> well known
> market technician Marachal (sp?) at the CME. Marachal had a reputation of
> drawing so called
> Gann lines before and better than Gann. On many occasions, he could forecat
> the
> exact price of the Dow Jones Industrial Average well in advance. So, for
> awhile,
> Reno was able to sit at lunch or over coffee with Marachal and listen to the
> old
> guy talk. After several days of this, Reno's curiosity was greatly piqued.
> He
> asked Mr. Marachal a question. Marachal glared at Reno and never spoked to
> him
> again.
>
> Things have gotten much better during the past 20 or 30 years in
> regard
> to the political correctness of Astrology. Despite the more enlightened or
> if
> you like tolerant trend, probably a fair portion of the people on this list
> think I am crazy or eccentric and want nothing to do with Astrology. You
> don't
> believe it? I have spent considerable time trying to show Brent and all
> "the
> light". I have proof that what I have said about Gann's Astrological
> interests
> is true. Yet, very few have contacted me to pursue this path of knowledge.
> (I
> know this post may sound like a commercial, but I am truly sincere that if
> you
> want to study Gann, you have to learn Astrology. If I make a buck on it, it
> is
> coincidental and probably will only partially reimburse me for the time I
> have
> spent on this list trying to help people. You are welcome to try to learn on
> your own too)
>
> >
> >
> > I'd say that there is AND isn't a lot of interest in Gann. Most are
> > interested but easily put off when confronted with the mysteries of Gann.
> > Most traders, and I would include myself would like to sit back with an
> > automated system and wait for it to beep at them telling them what to do.
> > Most of Gann analysis doesn't lend itself to that kind of thing. You have
> > to work at it.
>
> NW: Oh really? You mean you have to work at something to be competent and
> maybe
> make a living at it? No one is gonig to hand you a check for the amount you
> requested? What a surprise! (good natured sarcasm intended) So, what if you
> had
> a Doctor with the above attitude? Doc: "Yes, I guess we're gonna have to
> operate. Let's see now, did I do any studying about brain surgery? Oh well,
> let's schedule you for next week?" <G> Is there any profession that doesn't
> require considerable work and study in order to generate a good income?
> Gann
> wrote that studying the markets is no less demanding that studying to become
> a
> Doctor or Lawyer, who spend seven or eight years gong to college and then
> several more years to learn their profession. The best ones, once in their
> profession, never stop studying and practicing.
>
> Another factor is that those who are most successful LOVE what they
> are
> doing. Ask the top people in any profession and they will probably tell you
> that
> they would do what they are doing for nothing and getting paid is just an
> additional bonus. If you don't love researching the markets and seeking the
> truths of the universe, you should immediately put all your market books,
> especially Gann books, up for sale, and consider another avenue for making
> money. I have heard that one can get a nice 9 to 5 job, get paid, and one
> doesn't have to love the work.
>
> >
> > While I think that Gann is a great place to start learning about that kind
> > of analysis, unfortunately he is not around to ask about the finer points.
> > Could someone discover something about the markets that Gann didn't know?
> I
> > think so. Also I don't doubt for a moment that Gann knew a few things that
> > never went into print. My suggestion to those wanting to learn about Gann
> is
> > to read Gann's books first. Then if interested go into other things.
>
> NW: My suggestion is to learn Astrology FIRST before you ever pick up a Gann
> book. Would you
> read a Greek philosophy, written in Greek, with no knowledge of Greek? In
> the
> same vein,
> Gann wrote in a very cryptic style to cover his "esoteric" understanding of
> the
> markets. His knowledge of Astrology permeates all of his writings, but it is
> done in a covert and cryptic fashion. What good is it to waste your time
> having
> Gann tell you that it would be a good idea to know the incorporation date of
> a company, then give the key dates, if you can't erect a natal chart and
> check
> which planetary aspects were driving the stock price of that company? Most
> people would read Gann's suggestion, thinking it odd, and just keep reading
> without doing any research.
>
> I was very fortunate to having accidentally studied Astrology for
> eight
> years before I ever heard of Gann. Then, someone showed me a copy of one of
> Gann's courses. I read a couple of pages. My first amazed reaction was,
> "gee,
> this sounds alot like Astrology!" No one had told me anything about Gann
> before
> I read those pages. It was several years later that I found the proof that
> Gann
> was an Astrologer. Because I was already trading successfully based on
> Astrology, I spent my time learning Gann's more peripheral methods, the
> methods
> most people think are the main thrust of Gann, i.e. Gann wheels, Gann lines,
> squaring ranges, and other charting methods. I have tried just about every
> method to which Gann alluded. I have traveled "the path". I didn't have to
> do
> this. I had already tasted considerable success before I ever found Gann,
> Elliott Wave, etc. just using my knowledge of Astrology. I followed the path
> because I felt that it may help my trading. But more so, that it was
> a grand spiritual adventure in that I was gaining understanding of how
> everything in the Universe is related.
>
> Universally,
>
> Norman
>
> >
> >
> > Brent
> >
> > > Vaugh002@xxxxxxx wrote:
> > >
> > > > Of the several texts that address Gann's methods , which does the best
> > job
> > > > teaching the subject . What are the groups thoughts ? thanks tom
> > vaughan
> > >
> > > Tom,
> > >
> > > Here is my Gann test. If the teacher doesn't know Astrology, they
> > don't
> > > know Gann. That should
> > > eliminate a good portion of the Gann teachers and authors.
> > >
> > > Here is my Gann tip. Don't bother trying to learn Gann until you
> have
> > a
> > > very good foundation in the basic principles of Astrology.
> > >
> > > You are welcome to contact me by private e-mail if you have
> questions,
> > want
> > > more information, or want to share some very funny jokes.
> > >
> > > Co(s)mically,
> > >
> > > Norman
> > >
> > >
> > > P.S. You will need a good sense of humor if you want to study Gann's
> > writings.
> > > He loves to play with
> > > your brain. <G>
> > >
> > >
> > >
|