Day Trading Futures
- Thread starter manishchan
- Start date
- Tags day trading strategy tsf
- Status
6430...6380...6280...close of march series 
ya 6380 is reachable and 6280 may be. up limited to 6600 max.
the way nifty short going - bull should fight as team, but loss to them inevitable in march series.
this happened in 2004-january after election declaration . see chart - all u know now time for short
Just checked my status after I saw ur message.
For me this week, only Monday was a winner. All other days were losers.
For this series, my trading capital was down -7% by Mar 3rd, then went up to +10.5% on 10th March, and now around breakeven. It's swinging a lot.
Is this called swing trading?
For me this week, only Monday was a winner. All other days were losers.
For this series, my trading capital was down -7% by Mar 3rd, then went up to +10.5% on 10th March, and now around breakeven. It's swinging a lot.
Is this called swing trading?
Swing
Trading
Just checked my status after I saw ur message.
For me this week, only Monday was a winner. All other days were losers.
For this series, my trading capital was down -7% by Mar 3rd, then went up to +10.5% on 10th March, and now around breakeven. It's swinging a lot.
Is this called swing trading?
For me this week, only Monday was a winner. All other days were losers.
For this series, my trading capital was down -7% by Mar 3rd, then went up to +10.5% on 10th March, and now around breakeven. It's swinging a lot.
Is this called swing trading?
now remains entry & exit most of the traders have right entries only problem remaining is exit. Now in our life out of several issues if we apply ourselves we can solve this single problem and voila....
I might be able to help you solve this 'exit' problem.
you have to learn to exit like a institutional trader. What they generally do is exit @ 1:1 or 1:2 depending on trend or range conditions.
Don't try to guess where price will go and exit. Simply set 1:1 or 1:2. The reason for this is the traders equation. Google it and learn to use the traders equation and your should find it easier to exit.
Most people get greedy and think price will trend or they will hope that price will go in their favor 'just a little more' , only to see it turn around and take their stops.
you need good discipline to exit, which most people simply don't have.
you have to learn to exit like a institutional trader. What they generally do is exit @ 1:1 or 1:2 depending on trend or range conditions.
Don't try to guess where price will go and exit. Simply set 1:1 or 1:2. The reason for this is the traders equation. Google it and learn to use the traders equation and your should find it easier to exit.
Most people get greedy and think price will trend or they will hope that price will go in their favor 'just a little more' , only to see it turn around and take their stops.
you need good discipline to exit, which most people simply don't have.
With super trend or any trend (automatic)any body earned on consistance basis is big question mark ...........off course any auto system is not of great success...
"Trading is a art and every body don't have that skill...offcourse with continue study of charts we can become successful trader"
This is my personal opinion.........
"Trading is a art and every body don't have that skill...offcourse with continue study of charts we can become successful trader"
This is my personal opinion.........
William Gann life story
William Delbert Gann or W.D. Gann was born in 1878 the first-born of 11 children in Lufkin Texas United States. His father was a cotton farmer and his mother was a devout Baptist ensuring the whole family had a strict Baptist upbringing. The family was poor lived in a small house and W.D. Gann had to walk 7 miles to school. As W.D. Gann was the oldest son he was required to work on the farm to help support the family. Consequently he only had three years of elementary education and never attended high school.
In 1894 aged 13 he obtained a job selling newspapers and food on Texas trains. In 1901 obtains a brokerage job in Texarkana Texas and attends business school at night. Also in 1901 Gann married his first wife Rena May Smith and in 1903 Gann moved to New York. Gann had two daughters, Macie and Nora with his first wife. In On 12 September 1905, an article appeared in the Texarkanian, giving Gann’s view on cotton prices. In 1907 Gann allegedly made huge profits by predicating the panic in stocks and the fall in commodities prices. In 1907 what was later called Panic of 1907 or the 1907 Bankers’ Panic the New york Stock exchange fell 50% from its peak the previous year and there were numerous runs on banks.(Note no independent verification than Gann made huge profits in 1907 crash) In 1908, at the age of 30, Gann divorced his first wife Rena May and marries his second wife, 19 year-old Sarah (also known as Sadie) Hannify. His two daughters moved to New York to live with their father. Gann has two children with Sarah Velma born 1909 and John born 1915. In 1908 Gann discovered Master Time Factor a technique for predicting the trend of stocks and commodities. He said the master time factor enables him to predicts months and years in advance the high and low prices of commodities and stocks. Gann stated that using this technique he started “trading with a capital of $300 and made $25,000 3 months later . ”
In March 1918 Gann successfully predicted the end of World War I and the abdication of the Kaiser. His prediction was acknowledged in many leading newspapers, including the New York Times. (Searched the New York Times archives online no articles in 1918 were published about W.D Gann. These predictions could have been published in other papers but not the New York Times.)Gann also began publishing a daily market letter in 1919 titled, “The Supply and Demand Newsletter,” which covered the topics of stocks and commodities as well as publicizing yearly forecasts.In early 1923, Gann started another service called “The Busy Man’s Service,” where Gann supervised the trading accounts of various professionals and business men instructing them on what to buy, when to buy it, and when to sell. Gann’s market forecasts during the 1920s were also said by many to be approximately 85% accurate.According to Gann the basic premise behind his trading method was that the future is a repetition of the past and that time governed all parts of market movements. He stated that his discoveries enabled him to understand just how and when the effects of natural law governed the actions of men over cycles of time. It has been stated that Gann was so adept at trading stocks and commodities based on his unique time and price discoveries that he was able to publish forecasts for yearly highs and lows on multiple markets with uncanny accuracy many months in advance. Gann began to believe in a hidden order, he wanted to know why and how markets, and numbers repeated under certain time cycles
In 1927 Gann wrote the science fiction novel Tunnel Thru the Air. In Tunnel Thru the Air Gann predicted World War II, in particular the attack on the United States by Japan. ( Note I haven’t read this book to verify this claim) The book is set to be cryptically written and the master time factor and other Gann secrets have been hidden in the weave of the plot of the book. For many years, traders try to uncover the secrets of this book, but few have succeed. In 1928 Gann was said to have successfully predicted the bull market peak in September 3, 1929 and subsequent greatest in the history of panic. It was also stated that Gann picked the bottom of the 1929-1932 stock market crash and recommended to his clients to buy stocks in 1932 at the bottom of the market . In 1931 Gann became a member of the New York Stock Exchange rubber and the New Orleans Cotton Exchange.In 1932 Gann brought his first plane and hired the famous aviatrix Elinor Smith as his pilot. In 1936 Gann purchased an all metal airplane called the silver star. He was said to be the first private citizen in the United States to own an all metal plane. Some websites state that Gann used famous aviatrix Elinor Smith for 19 years as his pilot. ( Following sourced from Wikipedia) “Elinor Smith married Patrick Sullivan in 1933 she kept flying for a while after their 1933 marriage, but once she had a child she retired from flying and spent over 20 years as a suburban housewife. Patrick Sullivan died in 1956, and Elinor Smith returned to the air.” Gann got his first plane in 1932 Elinor Smith could have only flown for him in the years 1932 to 1935 when she had her first child not 19 years. Various reasons have been given for his purchase of the planes the first is that so he could fly over crop areas in the United States and South America making observations to use in his forecasts. Another reason claimed was that Gann was studying astrology, numerology and other esoteric arts to enhance his trading techniques.It is claimed Gann visited the Aztec pyramid complex at Teotihuacan and the Mayan pyramid complex at Chichen Itza. Gann believed that pyramid complexes mentioned apparently contained encoded advanced astronomical/ astrological knowledge.
It has also been stated that Gann spent many months in New York’s Astor Library researching stock and commodity markets. Gann also went to London and spent nine months in the British Museum researching stock and commodity prices dating back to the 1820’s along with wheat prices going all the way back to the 1200’s. He studied the prices going back hundreds of years to gain knowledge of cycles that occurred in commodities prices. Gann travelled to Egypt were he visited the pyramids to study ancient geometry. On his trip to India, he obtained the “square of nine” chart, as it was apparently an old Indian tea calculator. The square of nine chart is one Gann trading techniques.In 1937 Gann’s Son John L Gann worked in his father’s business until 1941 when he was called up to serve in the United States military. In 1941 W. D Gann became a member of the Chicago Mercantile Exchange and published the book “How to Make Profits in Commodities”. Sometime between 1937 and 1941 (record unclear) W.D Gann divorces his second wife Sadie who dies in 1942. In 1943 he marries a woman 30 years his junior. In the 1941 version of the book “How to Make Profits in Commodities” Gann included his son’s name and photo in the book . After the war Gann’s son briefly worked for his father. John L. Gann, Jr., the grandson of William D. Gann states on a short article he wrote on W.D Gann that ” John L Gann then left to pursue his own interests in the Industry. The two differed in their approach to the market.” This moment is one of the most controversial of W.D. Gann’s life as there appears to be a complete spilt between father and son from this time. Other sources state that clash of personalities between the two ended their business association in the mid 1940’s do to the science of astrology. John L Gann did not believe astrology/astronomy played a big enough part in technical analysis to effect market trends or human behavior. This opinion upset his father as astrology played a role in W.D Gann’s theories. The divorce of John Gann’s mother and marriage of W.D Gann to a women thirty years younger also soured the relationship. In 1951 W.D Gann released an updated version of the book “How to Make Profits in Commodities” and removed the name and photo of his son from the book. More on this father / son split later.In 1943 Gann moved to Florida with his new wife. In the late 1940′s to his death in 1955 Gann sold his great master course to private students for $5000. In present day values the course would cost $50000. This would have to be one of the world’s most expensive trading courses. The course apparently contained a lot of information not released in his books. He died in 1955 and it has been stated by many he died with a 50 million dollar fortune. In current day values this is about 500 million dollars. This statement has been a source of controversy and disagreement between detractors and supporters of Gann. In 1950 Gann sold the rights to all his books, personal trading charts, personal materials and trading tools to Edward Lambert who formed Lambert Gann Publishing Co in 1951. In 1976 Bill and Nikki Jones of Pomeroy, Washington purchased Lambert Gann Publishing Co from Edward Lambert. Since 2010 Lambert Gann Publishing Co is known as WD Gann Inc and is owned by the same family. This becomes more important later.Alexander Elder, in his book Trading for a Living said this about Gann “I interviewed W.D. Gann’s son, an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses. When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000. Larry Williams in the book The Right Stock at the right time also stated he met W.D Gann son. Larry Williams stated that John Gann said “”He asked why if his dad was a good as everyone said, the son was still smiling and dialing calling up customers to trade”. Larry Williams in the same book says “I also met F.B Thatcher who had been Gann’s promoter and advance man who said that Gann was just a good promoter, not necessarily a good stock trader”.The issue of W.D Gann fortune is a very controversial. Gann’s son John told anyone who asked that his father was a swindler and a fraud who made his money by charging thousands of dollars for trading seminars, and that rather than being left millions of dollars his family was left with a modest inheritance. Gann’s supporters point to the soured relationship mentioned above son as a reason for the statements he made. It could be easy to say John Gann had a bad relationship with is father that is why he rubbished his trading techniques. If there was a fortune even if John Gann was cut out of the will it would be logical John Gann and the rest of the family would take the matter to court. There is no evidence of any court cases over W.D. Gann’s estate. This indicates there must be some truth in what John Gann is saying. The estate of W.D Gann was modest not a fortune. The 50 million dollar figure has absolutely no verification and is about 500 million dollars in todays values.
One very interesting point James A Hyerczyk in the book Pattern, Price & Time: Using Gann Theory in Trading Systems, John Wiley & Sons states ” I can say this with conviction the first mention of Gann’s $50,000,000 fortune that I have seen is from a May 1982 Commodities article by Mr Billy Jones who stated in one sentence in the article “over the next half century Gann would take 50 million in profits out of the markets and keep most of it” ” Billy Jones is Bill Jones (who passed away in 1989) who with his wife Nikki Jones purchased Lambert Gann Publishing Co from Edward Lambert in 1976 as mentioned above. Lambert Gann Publishing Co also known as WD Gann Inc has many of W.D Gann private papers. It states on the WD Gann Inc website ” Nikki Jones may know more about the life of W. D. Gann than any person on the planet. She has studied his life for decades and is on the Gann Family Board of Directors. ” I assume Nikki Jones knows living and deceased family members of W. D Gann. If he had a 50 million dollar fortune surely some of his descendents would be reasonable wealthy. Nikki Jones would be the best person to ask of the size of W. D. Gann estate.From the evidence available Gann’s estate was relatively modest for a person who spent his whole life in the securities business as a trader, author and money manager. Some of Gann’s supporters have some bizarre theories to account for the missing money. One of these theories is that Gann flew cash down to South America in one of the airplanes he owned to deposit in secret bank accounts. Gann would take his winnings out in cash fly them down to South America and not pay tax. This sounds ridiculous ! Gann’s own supporters suggest he is a serious tax cheat just so they can claim millions of dollars of his fortune was hidden in South American Bank Accounts. Note this theory of flying cash to South America is hearsay and no documented evidence has been produced to substantiate this claim.As for Gann’s trading techniques I personally have read only one Gann book New Stock trend Detector. Originally written in 1936 the version I read was published in 2008 contains only 84 pages more a booklet than a book. It contains many statements of good advice common in trading books published today such as learn to be independent and don’t blindly follow the opinions of others, always use stop-loss orders, dont over trade, never risk more than X%” of your capital on a given trade, let your winning trade’s ride and don’t average down. In the book he states (written in 1936) “I am confident that the Dow Jones Industrial 30 Averages will never pass the 1929 high of 386. Many individual stocks may pass there 1929 highs but not the index.” What a stunning forecast error. The Dow jones index didn’t pass its 1929 high until 1954 25 years later and since then has climbed over the years.
William Delbert Gann full bioWilliam Delbert Gann was born on 6 June 1878 in Lufkin, Texas.
His father, Samuel Houston Gann, was a teacher who traded in cattle and horses. He also owned a billiard hall.Gann's mother, Susan Rebecca Gann (nee Trevation) spent much of her time raising W.D. Gann and his younger brothers and sisters. She taught the young William to read using the Bible - a book that was to later influence his thinking on the nature of markets.Gann's family was poor. Samuel, Susan and their eight children lived in a small house, and young William had to walk seven miles to school each day, for three years.
Gann never attended high school.In 1894, William Gann, at the age of 16 years, obtained a minor's release, which allowed him to leave full-time schooling and seek employment. Gann became a news butcher (someone who sells newspapers, food and so on) on a train that traveled between Texarkana and Tyler, in Texas. He also worked in cotton warehouses.In 1901, while working in a broker's office in Texarkana, Gann married his first wife,
Rena May Smith.In 1902, their first daughter was born - Nora.
1902 was also the first year that Gann had his first trade in cotton.In 1903 Gann moved to New York. He was 25 years of age.
In 1905 his second daughter, Macie Burnie, was born. On 12 September 1905, an article appeared in the Texarkanian, giving Gann's view on cotton prices.In 1906 Gann worked as a broker in Oklahoma City.
In 1907 Gann made huge profits after predicting the panic in stocks and the fall in commodities.In 1908, at the age of 30, Gann divorced Rena May and married his second wife, 19 year-old Sadie Hannify. His two daughters moved to New York to live with their father.It was in this year that he discovered his 'Master Time Factor'. He traded two trading accounts. The first he opened with $300, and he made $25,000 in a period of three months. The second account started with $130 and he made $12,000 in the same 30 days.
In 1909 Gann and Sadie had their first child, a daughter they named Velma. By this time Gann's had established his reputation as an exceptionally talented trader.Richard Wyckoff, editor of the Ticker and Investment Digest and one of the most respected writers on the stock market of all time, wrote an article on Gann's discoveries and his exceptional trading ability. The article was titled 'William D. Gann. An Operator Whose Science and Ability Place Him in the Front Rank. His Remarkable Predictions and Trading Record'.In order to verify Gann's trading record, an independent observer monitored Gann's trading during October: During the month of October, 1909, in twenty-five market days, Mr. Gann made, in the presence of our representative, two hundred and eightly-six transactions in various stocks, on both the long and the short side of the market. Two hundred and sixty-four of these transactions resulted in profits; twenty-two in losses.
The capital with which he operated was doubled ten times, so that at the end of the month he had one thousand per cent. on his original margin.We have seen him give in one day sixteen successive orders in the same stock, eight of which turned out to be at either the top or the bottom eighth of that particular swing. The above we can positively verify. Such performances as these, coupled with the foregoing, are probably unparalleled in the history of the Street. (Ticker and Investment Digest, Volume 5, Number 2, December, 1909, page 54.)
Gann acknowledged having made half a million dollars from his trading over the previous few years.The representative of Ticker and Investment Digest was able to verify Gann's success as a trader. "I once saw him take $130, and in less that one month run it up to over $12,000. He can compound money faster than any man I ever met." (Ticker and Investment Digest, Volume 5, Number 2, December, 1909, page 54.)
In 1910 Gann wrote his first book, Speculation a Profitable Profession. He also produced newsletters such as The Busy Man's News and later his famous Supply and Demand Letter.
In early 1914 Gann predicted a world war and a panic in stocks.
In 1915 his son John L. Gann was born.
In March 1918 Gann successfully predicted the end of World War I and the abdication of the Kaiser. His prediction was acknowledged in many leading newspapers, including the New York Times.
In 1919 he commenced working for himself. He published his Supply and Demand Letter, which included annual forecasts for stock and commodity markets.
In 1923 Gann wrote Truth of the Stock Tape. This book was widely acclaimed by some as the best book ever written on the stock market.In a period of 60 days, Gann made more than $30,000 trading cotton, with a starting capital of less than $1,000.In 1927 Gann wrote his 'novel' Tunnel Thru the Air. Gann wrote this book as a catalogue of his discoveries. The discoveries were 'hidden' in the book's story. Over the years many traders have tried to deduce the secrets of this book, but few have succeeded.In Tunnel Thru the Air Gann predicted World War II, in particular the attack on the United States by Japan.
The following is the text of an advertisement for the book published by the Financial Guardian Publishing Company soon after the book was released:Mr. Gann's latest book deals with the future war in the air, tells you about the cycles and rules found in the Bible for forecasting the future of nations and stock and commodity markets. It goes ahead until 1932, giving hints on the coming campaign in stocks, cotton and grain. A fascinating, mysterious love story is interwoven with scientific knowledge, making this book interesting reading as well as instructive to men and women in every walk of life.In 1928 Gann successfully forecast the top of the bull market for 3 September, 1929, and forecast that the greatest panic in history would follow.In 1930 Gann wrote Wall Street Stock Selector. In this book he described the market conditions from 1931 to 1933.
In 1931 Gann became a member of the New York Rubber Exchange and The New Orleans Cotton Exchange.In 1932 Gann made a recommendation for his clients to buy stocks at the time of the Great Depression low.In 1936 Gann wrote New Stock Trend Detector, and bought his purpose-built all-metal airplane 'The Silver Star'. He was the first individual in the United States to own, privately, a metal airplane.Over the years he bought a number of airplanes. His pilot for 19 years was Elinor Smith. Gann also bought real estate and high powered cruising boats.
In 1937 Gann wrote How to Make Profits Trading in Puts and Calls. He divorced his wife Sadie in this year.
In 1940 Gann wrote Face Facts America. In this book he explained why Germany would lose World War II and why the United States should not enter the war. He also outlined the major problems he saw with the United States Government's 'New Deal', and their consequences.In 1941, Gann became a member of the prestigious Chicago Board of Trade. He campaigned strongly against Roosevelt and his 'New Deal'. This was at a time when the United States government had its largest budget ever (at the time), and the Ford Motor Company had to stop production for one year due to a severe lack of sales.In 1941 Gann wrote How to Make Profits in Commodities. The original 1941 edition had W.D. Gann and his son John as the authors.In 1942 Gann's wife Sadie died at the age of 53 years.
In 1944 he married his third wife Londi, who was 30 years younger than he was. Gann treated her like a queen, much to the disapproval of his children. Gann then moved to the warmer climate of Miami, in Florida, where he traded, invested in real estate and continued to teach his students. Gann's third wife is still alive today.
In 1948 Gann sold his trading company to Joseph Lederer in St. Louis, Missouri.In 1949 Gann wrote 45 Years in Wall Street. The International Mark Twain Society bestowed on Gann an honourary membership based on the quality of this book.
In 1950 Gann wrote The Magic Word. This was his contribution to biblical literature.On 23 May 1951 Gann established the Lambert-Gann Publishing Company, with Ed. Lambert. Lambert was best known for designing the highway system in Miami. This company published all of Gann's books and courses.Gann updated and reprinted How to Make Profits in Commodities, removing his son John's name and picture from the book. The 1951 updated edition was a huge success. Gann, at the age of 73, was still able to command a fee of US$500 per day for his consultancy services.He sold W.D. Gann Research, Inc. to C.C. Loosely in New York.In 1954, at the age of 76,
Gann bought a high-speed cruising boat that he named 'The Coffee Bean', with the profits of a very successful commodity trade. Gann's Great Master Course sold for US$5,000 in 1954 - the price of an average house.Gann suffered a heart attach, and soon after discovered he had stomach cancer.In 1955 W.D. Gann returned from one of his many trips to Cuba, where he loved to buy tickets in Cuban lotteries and bet on horse races. He was feeling ill and was very weak.His son John took his father from Florida to New York, where he was admitted to the Methodist hospital in Brooklyn.W.D. Gann died at 3.20pm on 18 June 1955.
He was 77 years of age.Gann's children arranged for Gann to be buried with his second wife Sadie, in the Masonic section of the Greenwood Cemetery in Brooklyn, on a hill overlooking the Manhattan skyline and his beloved Wall Street.(John Gann was a pilot in World War II.
He became very bitter towards his father, particularly after his father married for the third time. John Gann died in 1984. Ed Lambert did not actively promote or produce Gann's books and courses, and as a consequence they became very difficult to procure until Billy and Nikki Jones from Pomeroy, Washington, purchased the Lambert-Gann Publishing Company and the copyrights to Gann's materials in 1976. Ed. Lambert died in 1998.)
Source :Internet
William Delbert Gann or W.D. Gann was born in 1878 the first-born of 11 children in Lufkin Texas United States. His father was a cotton farmer and his mother was a devout Baptist ensuring the whole family had a strict Baptist upbringing. The family was poor lived in a small house and W.D. Gann had to walk 7 miles to school. As W.D. Gann was the oldest son he was required to work on the farm to help support the family. Consequently he only had three years of elementary education and never attended high school.
In 1894 aged 13 he obtained a job selling newspapers and food on Texas trains. In 1901 obtains a brokerage job in Texarkana Texas and attends business school at night. Also in 1901 Gann married his first wife Rena May Smith and in 1903 Gann moved to New York. Gann had two daughters, Macie and Nora with his first wife. In On 12 September 1905, an article appeared in the Texarkanian, giving Gann’s view on cotton prices. In 1907 Gann allegedly made huge profits by predicating the panic in stocks and the fall in commodities prices. In 1907 what was later called Panic of 1907 or the 1907 Bankers’ Panic the New york Stock exchange fell 50% from its peak the previous year and there were numerous runs on banks.(Note no independent verification than Gann made huge profits in 1907 crash) In 1908, at the age of 30, Gann divorced his first wife Rena May and marries his second wife, 19 year-old Sarah (also known as Sadie) Hannify. His two daughters moved to New York to live with their father. Gann has two children with Sarah Velma born 1909 and John born 1915. In 1908 Gann discovered Master Time Factor a technique for predicting the trend of stocks and commodities. He said the master time factor enables him to predicts months and years in advance the high and low prices of commodities and stocks. Gann stated that using this technique he started “trading with a capital of $300 and made $25,000 3 months later . ”
In March 1918 Gann successfully predicted the end of World War I and the abdication of the Kaiser. His prediction was acknowledged in many leading newspapers, including the New York Times. (Searched the New York Times archives online no articles in 1918 were published about W.D Gann. These predictions could have been published in other papers but not the New York Times.)Gann also began publishing a daily market letter in 1919 titled, “The Supply and Demand Newsletter,” which covered the topics of stocks and commodities as well as publicizing yearly forecasts.In early 1923, Gann started another service called “The Busy Man’s Service,” where Gann supervised the trading accounts of various professionals and business men instructing them on what to buy, when to buy it, and when to sell. Gann’s market forecasts during the 1920s were also said by many to be approximately 85% accurate.According to Gann the basic premise behind his trading method was that the future is a repetition of the past and that time governed all parts of market movements. He stated that his discoveries enabled him to understand just how and when the effects of natural law governed the actions of men over cycles of time. It has been stated that Gann was so adept at trading stocks and commodities based on his unique time and price discoveries that he was able to publish forecasts for yearly highs and lows on multiple markets with uncanny accuracy many months in advance. Gann began to believe in a hidden order, he wanted to know why and how markets, and numbers repeated under certain time cycles
In 1927 Gann wrote the science fiction novel Tunnel Thru the Air. In Tunnel Thru the Air Gann predicted World War II, in particular the attack on the United States by Japan. ( Note I haven’t read this book to verify this claim) The book is set to be cryptically written and the master time factor and other Gann secrets have been hidden in the weave of the plot of the book. For many years, traders try to uncover the secrets of this book, but few have succeed. In 1928 Gann was said to have successfully predicted the bull market peak in September 3, 1929 and subsequent greatest in the history of panic. It was also stated that Gann picked the bottom of the 1929-1932 stock market crash and recommended to his clients to buy stocks in 1932 at the bottom of the market . In 1931 Gann became a member of the New York Stock Exchange rubber and the New Orleans Cotton Exchange.In 1932 Gann brought his first plane and hired the famous aviatrix Elinor Smith as his pilot. In 1936 Gann purchased an all metal airplane called the silver star. He was said to be the first private citizen in the United States to own an all metal plane. Some websites state that Gann used famous aviatrix Elinor Smith for 19 years as his pilot. ( Following sourced from Wikipedia) “Elinor Smith married Patrick Sullivan in 1933 she kept flying for a while after their 1933 marriage, but once she had a child she retired from flying and spent over 20 years as a suburban housewife. Patrick Sullivan died in 1956, and Elinor Smith returned to the air.” Gann got his first plane in 1932 Elinor Smith could have only flown for him in the years 1932 to 1935 when she had her first child not 19 years. Various reasons have been given for his purchase of the planes the first is that so he could fly over crop areas in the United States and South America making observations to use in his forecasts. Another reason claimed was that Gann was studying astrology, numerology and other esoteric arts to enhance his trading techniques.It is claimed Gann visited the Aztec pyramid complex at Teotihuacan and the Mayan pyramid complex at Chichen Itza. Gann believed that pyramid complexes mentioned apparently contained encoded advanced astronomical/ astrological knowledge.
It has also been stated that Gann spent many months in New York’s Astor Library researching stock and commodity markets. Gann also went to London and spent nine months in the British Museum researching stock and commodity prices dating back to the 1820’s along with wheat prices going all the way back to the 1200’s. He studied the prices going back hundreds of years to gain knowledge of cycles that occurred in commodities prices. Gann travelled to Egypt were he visited the pyramids to study ancient geometry. On his trip to India, he obtained the “square of nine” chart, as it was apparently an old Indian tea calculator. The square of nine chart is one Gann trading techniques.In 1937 Gann’s Son John L Gann worked in his father’s business until 1941 when he was called up to serve in the United States military. In 1941 W. D Gann became a member of the Chicago Mercantile Exchange and published the book “How to Make Profits in Commodities”. Sometime between 1937 and 1941 (record unclear) W.D Gann divorces his second wife Sadie who dies in 1942. In 1943 he marries a woman 30 years his junior. In the 1941 version of the book “How to Make Profits in Commodities” Gann included his son’s name and photo in the book . After the war Gann’s son briefly worked for his father. John L. Gann, Jr., the grandson of William D. Gann states on a short article he wrote on W.D Gann that ” John L Gann then left to pursue his own interests in the Industry. The two differed in their approach to the market.” This moment is one of the most controversial of W.D. Gann’s life as there appears to be a complete spilt between father and son from this time. Other sources state that clash of personalities between the two ended their business association in the mid 1940’s do to the science of astrology. John L Gann did not believe astrology/astronomy played a big enough part in technical analysis to effect market trends or human behavior. This opinion upset his father as astrology played a role in W.D Gann’s theories. The divorce of John Gann’s mother and marriage of W.D Gann to a women thirty years younger also soured the relationship. In 1951 W.D Gann released an updated version of the book “How to Make Profits in Commodities” and removed the name and photo of his son from the book. More on this father / son split later.In 1943 Gann moved to Florida with his new wife. In the late 1940′s to his death in 1955 Gann sold his great master course to private students for $5000. In present day values the course would cost $50000. This would have to be one of the world’s most expensive trading courses. The course apparently contained a lot of information not released in his books. He died in 1955 and it has been stated by many he died with a 50 million dollar fortune. In current day values this is about 500 million dollars. This statement has been a source of controversy and disagreement between detractors and supporters of Gann. In 1950 Gann sold the rights to all his books, personal trading charts, personal materials and trading tools to Edward Lambert who formed Lambert Gann Publishing Co in 1951. In 1976 Bill and Nikki Jones of Pomeroy, Washington purchased Lambert Gann Publishing Co from Edward Lambert. Since 2010 Lambert Gann Publishing Co is known as WD Gann Inc and is owned by the same family. This becomes more important later.Alexander Elder, in his book Trading for a Living said this about Gann “I interviewed W.D. Gann’s son, an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses. When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000. Larry Williams in the book The Right Stock at the right time also stated he met W.D Gann son. Larry Williams stated that John Gann said “”He asked why if his dad was a good as everyone said, the son was still smiling and dialing calling up customers to trade”. Larry Williams in the same book says “I also met F.B Thatcher who had been Gann’s promoter and advance man who said that Gann was just a good promoter, not necessarily a good stock trader”.The issue of W.D Gann fortune is a very controversial. Gann’s son John told anyone who asked that his father was a swindler and a fraud who made his money by charging thousands of dollars for trading seminars, and that rather than being left millions of dollars his family was left with a modest inheritance. Gann’s supporters point to the soured relationship mentioned above son as a reason for the statements he made. It could be easy to say John Gann had a bad relationship with is father that is why he rubbished his trading techniques. If there was a fortune even if John Gann was cut out of the will it would be logical John Gann and the rest of the family would take the matter to court. There is no evidence of any court cases over W.D. Gann’s estate. This indicates there must be some truth in what John Gann is saying. The estate of W.D Gann was modest not a fortune. The 50 million dollar figure has absolutely no verification and is about 500 million dollars in todays values.
One very interesting point James A Hyerczyk in the book Pattern, Price & Time: Using Gann Theory in Trading Systems, John Wiley & Sons states ” I can say this with conviction the first mention of Gann’s $50,000,000 fortune that I have seen is from a May 1982 Commodities article by Mr Billy Jones who stated in one sentence in the article “over the next half century Gann would take 50 million in profits out of the markets and keep most of it” ” Billy Jones is Bill Jones (who passed away in 1989) who with his wife Nikki Jones purchased Lambert Gann Publishing Co from Edward Lambert in 1976 as mentioned above. Lambert Gann Publishing Co also known as WD Gann Inc has many of W.D Gann private papers. It states on the WD Gann Inc website ” Nikki Jones may know more about the life of W. D. Gann than any person on the planet. She has studied his life for decades and is on the Gann Family Board of Directors. ” I assume Nikki Jones knows living and deceased family members of W. D Gann. If he had a 50 million dollar fortune surely some of his descendents would be reasonable wealthy. Nikki Jones would be the best person to ask of the size of W. D. Gann estate.From the evidence available Gann’s estate was relatively modest for a person who spent his whole life in the securities business as a trader, author and money manager. Some of Gann’s supporters have some bizarre theories to account for the missing money. One of these theories is that Gann flew cash down to South America in one of the airplanes he owned to deposit in secret bank accounts. Gann would take his winnings out in cash fly them down to South America and not pay tax. This sounds ridiculous ! Gann’s own supporters suggest he is a serious tax cheat just so they can claim millions of dollars of his fortune was hidden in South American Bank Accounts. Note this theory of flying cash to South America is hearsay and no documented evidence has been produced to substantiate this claim.As for Gann’s trading techniques I personally have read only one Gann book New Stock trend Detector. Originally written in 1936 the version I read was published in 2008 contains only 84 pages more a booklet than a book. It contains many statements of good advice common in trading books published today such as learn to be independent and don’t blindly follow the opinions of others, always use stop-loss orders, dont over trade, never risk more than X%” of your capital on a given trade, let your winning trade’s ride and don’t average down. In the book he states (written in 1936) “I am confident that the Dow Jones Industrial 30 Averages will never pass the 1929 high of 386. Many individual stocks may pass there 1929 highs but not the index.” What a stunning forecast error. The Dow jones index didn’t pass its 1929 high until 1954 25 years later and since then has climbed over the years.
William Delbert Gann full bioWilliam Delbert Gann was born on 6 June 1878 in Lufkin, Texas.
His father, Samuel Houston Gann, was a teacher who traded in cattle and horses. He also owned a billiard hall.Gann's mother, Susan Rebecca Gann (nee Trevation) spent much of her time raising W.D. Gann and his younger brothers and sisters. She taught the young William to read using the Bible - a book that was to later influence his thinking on the nature of markets.Gann's family was poor. Samuel, Susan and their eight children lived in a small house, and young William had to walk seven miles to school each day, for three years.
Gann never attended high school.In 1894, William Gann, at the age of 16 years, obtained a minor's release, which allowed him to leave full-time schooling and seek employment. Gann became a news butcher (someone who sells newspapers, food and so on) on a train that traveled between Texarkana and Tyler, in Texas. He also worked in cotton warehouses.In 1901, while working in a broker's office in Texarkana, Gann married his first wife,
Rena May Smith.In 1902, their first daughter was born - Nora.
1902 was also the first year that Gann had his first trade in cotton.In 1903 Gann moved to New York. He was 25 years of age.
In 1905 his second daughter, Macie Burnie, was born. On 12 September 1905, an article appeared in the Texarkanian, giving Gann's view on cotton prices.In 1906 Gann worked as a broker in Oklahoma City.
In 1907 Gann made huge profits after predicting the panic in stocks and the fall in commodities.In 1908, at the age of 30, Gann divorced Rena May and married his second wife, 19 year-old Sadie Hannify. His two daughters moved to New York to live with their father.It was in this year that he discovered his 'Master Time Factor'. He traded two trading accounts. The first he opened with $300, and he made $25,000 in a period of three months. The second account started with $130 and he made $12,000 in the same 30 days.
In 1909 Gann and Sadie had their first child, a daughter they named Velma. By this time Gann's had established his reputation as an exceptionally talented trader.Richard Wyckoff, editor of the Ticker and Investment Digest and one of the most respected writers on the stock market of all time, wrote an article on Gann's discoveries and his exceptional trading ability. The article was titled 'William D. Gann. An Operator Whose Science and Ability Place Him in the Front Rank. His Remarkable Predictions and Trading Record'.In order to verify Gann's trading record, an independent observer monitored Gann's trading during October: During the month of October, 1909, in twenty-five market days, Mr. Gann made, in the presence of our representative, two hundred and eightly-six transactions in various stocks, on both the long and the short side of the market. Two hundred and sixty-four of these transactions resulted in profits; twenty-two in losses.
The capital with which he operated was doubled ten times, so that at the end of the month he had one thousand per cent. on his original margin.We have seen him give in one day sixteen successive orders in the same stock, eight of which turned out to be at either the top or the bottom eighth of that particular swing. The above we can positively verify. Such performances as these, coupled with the foregoing, are probably unparalleled in the history of the Street. (Ticker and Investment Digest, Volume 5, Number 2, December, 1909, page 54.)
Gann acknowledged having made half a million dollars from his trading over the previous few years.The representative of Ticker and Investment Digest was able to verify Gann's success as a trader. "I once saw him take $130, and in less that one month run it up to over $12,000. He can compound money faster than any man I ever met." (Ticker and Investment Digest, Volume 5, Number 2, December, 1909, page 54.)
In 1910 Gann wrote his first book, Speculation a Profitable Profession. He also produced newsletters such as The Busy Man's News and later his famous Supply and Demand Letter.
In early 1914 Gann predicted a world war and a panic in stocks.
In 1915 his son John L. Gann was born.
In March 1918 Gann successfully predicted the end of World War I and the abdication of the Kaiser. His prediction was acknowledged in many leading newspapers, including the New York Times.
In 1919 he commenced working for himself. He published his Supply and Demand Letter, which included annual forecasts for stock and commodity markets.
In 1923 Gann wrote Truth of the Stock Tape. This book was widely acclaimed by some as the best book ever written on the stock market.In a period of 60 days, Gann made more than $30,000 trading cotton, with a starting capital of less than $1,000.In 1927 Gann wrote his 'novel' Tunnel Thru the Air. Gann wrote this book as a catalogue of his discoveries. The discoveries were 'hidden' in the book's story. Over the years many traders have tried to deduce the secrets of this book, but few have succeeded.In Tunnel Thru the Air Gann predicted World War II, in particular the attack on the United States by Japan.
The following is the text of an advertisement for the book published by the Financial Guardian Publishing Company soon after the book was released:Mr. Gann's latest book deals with the future war in the air, tells you about the cycles and rules found in the Bible for forecasting the future of nations and stock and commodity markets. It goes ahead until 1932, giving hints on the coming campaign in stocks, cotton and grain. A fascinating, mysterious love story is interwoven with scientific knowledge, making this book interesting reading as well as instructive to men and women in every walk of life.In 1928 Gann successfully forecast the top of the bull market for 3 September, 1929, and forecast that the greatest panic in history would follow.In 1930 Gann wrote Wall Street Stock Selector. In this book he described the market conditions from 1931 to 1933.
In 1931 Gann became a member of the New York Rubber Exchange and The New Orleans Cotton Exchange.In 1932 Gann made a recommendation for his clients to buy stocks at the time of the Great Depression low.In 1936 Gann wrote New Stock Trend Detector, and bought his purpose-built all-metal airplane 'The Silver Star'. He was the first individual in the United States to own, privately, a metal airplane.Over the years he bought a number of airplanes. His pilot for 19 years was Elinor Smith. Gann also bought real estate and high powered cruising boats.
In 1937 Gann wrote How to Make Profits Trading in Puts and Calls. He divorced his wife Sadie in this year.
In 1940 Gann wrote Face Facts America. In this book he explained why Germany would lose World War II and why the United States should not enter the war. He also outlined the major problems he saw with the United States Government's 'New Deal', and their consequences.In 1941, Gann became a member of the prestigious Chicago Board of Trade. He campaigned strongly against Roosevelt and his 'New Deal'. This was at a time when the United States government had its largest budget ever (at the time), and the Ford Motor Company had to stop production for one year due to a severe lack of sales.In 1941 Gann wrote How to Make Profits in Commodities. The original 1941 edition had W.D. Gann and his son John as the authors.In 1942 Gann's wife Sadie died at the age of 53 years.
In 1944 he married his third wife Londi, who was 30 years younger than he was. Gann treated her like a queen, much to the disapproval of his children. Gann then moved to the warmer climate of Miami, in Florida, where he traded, invested in real estate and continued to teach his students. Gann's third wife is still alive today.
In 1948 Gann sold his trading company to Joseph Lederer in St. Louis, Missouri.In 1949 Gann wrote 45 Years in Wall Street. The International Mark Twain Society bestowed on Gann an honourary membership based on the quality of this book.
In 1950 Gann wrote The Magic Word. This was his contribution to biblical literature.On 23 May 1951 Gann established the Lambert-Gann Publishing Company, with Ed. Lambert. Lambert was best known for designing the highway system in Miami. This company published all of Gann's books and courses.Gann updated and reprinted How to Make Profits in Commodities, removing his son John's name and picture from the book. The 1951 updated edition was a huge success. Gann, at the age of 73, was still able to command a fee of US$500 per day for his consultancy services.He sold W.D. Gann Research, Inc. to C.C. Loosely in New York.In 1954, at the age of 76,
Gann bought a high-speed cruising boat that he named 'The Coffee Bean', with the profits of a very successful commodity trade. Gann's Great Master Course sold for US$5,000 in 1954 - the price of an average house.Gann suffered a heart attach, and soon after discovered he had stomach cancer.In 1955 W.D. Gann returned from one of his many trips to Cuba, where he loved to buy tickets in Cuban lotteries and bet on horse races. He was feeling ill and was very weak.His son John took his father from Florida to New York, where he was admitted to the Methodist hospital in Brooklyn.W.D. Gann died at 3.20pm on 18 June 1955.
He was 77 years of age.Gann's children arranged for Gann to be buried with his second wife Sadie, in the Masonic section of the Greenwood Cemetery in Brooklyn, on a hill overlooking the Manhattan skyline and his beloved Wall Street.(John Gann was a pilot in World War II.
He became very bitter towards his father, particularly after his father married for the third time. John Gann died in 1984. Ed Lambert did not actively promote or produce Gann's books and courses, and as a consequence they became very difficult to procure until Billy and Nikki Jones from Pomeroy, Washington, purchased the Lambert-Gann Publishing Company and the copyrights to Gann's materials in 1976. Ed. Lambert died in 1998.)
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