W D Gann is one of the most famous traders of all time and his status is confirmed by a life size portrait you see as you enter the New York Stock Exchange (NYSE).
He made a fortune of $50 million and his unique methods are used by savvy traders all around the world to seek big consistent profits. If you have not looked at his methods you should here’s why.
- He was successful!
Many e-book sellers or traders sell information but don’t trade or lose money – Gann made money and his track record is a matter of public record with many of his trades publicly documented.
He made profits pure and simple and even better he left extensive writings on how he did it, which you can learn from and apply for bigger market profits.
- Gann Trading Philosophy
Gann was a technical trader and like all technical traders believed that what happened in the past would happen in the future and the key to making profits was to look for recurring price patterns
While the above is the basis of what all technical analysts believe his methods for viewing these patterns was innovative and revolutionary.
- The method
The method was based upon several innovative ideas none more so than his concept of price and time.
Gann believed that crucial price movements occurred when price and time converged.
These points usually indicated an important trend change was about to take place.
If price and time however were not in union, or did not converge, then time always held priority over price – Time was therefore the ultimate indicator.
To quote Gann
“Just remember one thing, whatever has happened in the past in the stock market and Wall Street will happen again.
Advances in bull markets will come in the future, and panics will come in the future, just as they have in
the past. This is the working out of a natural law”
There were many other innovative ideas incorporated in his methods including: The Fibonacci number sequence, Gann angles and many more but they all stemmed from Gann’s believe that the markets were governed (like all things in nature) “natural law”
- Natural law
If you think about it this is quite logical. Often under estimated is Gann’s insight into traders psychology and he wrote extensively on this subject.
As human nature is constant so to are their reactions to price – this is natural law and shows up in repetitive price patterns.
When Gann was writing these ideas were new, today they are more widely accepted.
- Giving you an edge for profits
What you can learn from Gann is some unique methods that were innovative when he used them but still applicable today.
Keep in mind Gann was not just a writer he was a trader and put his money where his mouth is and made real money.
Today, savvy traders all around the world still use his methods to make profits – They continue to work now and will do in the future as human nature remains constant.
Learning the method
Gann’s methods take a bit of work and practice but all his methods were left by him for others to profit from.
Take time to study Gann and you will find that it will be time well spent and will give you an edge in your quest for greater profits.