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Don't be discouraged. I spend something on the order of 60 hours per
week on my trading, have spent years learning the trade, and will spend
many more years to master it. Those who have not learned the trade will
go down the tubes when inevitable bear market arrives and those. Those
who have prepared will be taking their money.
Earl
----- Original Message -----
From: "Michael Mangiafico" <Mmangiafico@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, January 10, 2000 1:58 PM
Subject: [RT] RE: Re: Gann the method
> 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>
> > >
> > >
> > >
>
>
>
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