Trading through Gann Angles

[manishchan]

Dear Manishchan,
As far as your point is concerned I would like to say that there are 2 types of people in this world: One who believe in God and the others who dont believe in God. But it doesnt mean that who believe in God are good and the otherones are bad. The main thing is FAITH
Similarly some follow Gann and some dont follow gann, some follow other systems like fibonacci, moving averages, breakouts etc but it doesn't mean that who don't follow Gann are not making money.They people too are making money. Gann systems are not HOLY GRAIL. Stoplosses are also get triggered in Gann
I am Gann follower and trading the markets from the last few years using ONLY GANN THEORIES successfully.
If your friends are not making money from the last 4-5 years by using Gann then its their fault. There might be something wrong in their learning process.
And the clip which you have shared is rubbish. You have collected only the negative points about Gann where as there are many positive things available about Gann but you picked only the nagative one.

Very well said dear.. !! Plz don't get me wrong.. I'm not saying Gann method is doesn't work or is holy grail. I just personally don't like his approach and methods (again personal view) At the start of my career i read many of his books (some you mentioned above).. did backtesting.. devised methods... calculators etc.. probably somewhere I had to give up. Almost similar stories of my friends too... while I switched of to other methods and have been very successful and consistent, they are still struggling wid it but somehow still want to continue to follow it. Again itz their choice and I dnt stop them.... like it is said... there are 1000 methods to trade.. no bad no good..it all depends on how one takes it.. and uses it.


BTW... that excerpt that I posted is from the famous book "Trading for A Living by Elder Alexander".. according to me a must read for every traders.

Anyways... I didnt mean to hurt yours or anyone's feeling.. It was just my reaction.

 

[niftyoption]

Very well said dear.. !! Plz don't get me wrong.. I'm not saying Gann method is doesn't work or is holy grail. I just personally don't like his approach and methods (again personal view) At the start of my career i read many of his books (some you mentioned above).. did backtesting.. devised methods... calculators etc.. probably somewhere I had to give up. Almost similar stories of my friends too... while I switched of to other methods and have been very successful and consistent, they are still struggling wid it but somehow still want to continue to follow it. Again itz their choice and I dnt stop them.... like it is said... there are 1000 methods to trade.. no bad no good..it all depends on how one takes it.. and uses it.


BTW... that excerpt that I posted is from the famous book "Trading for A Living by Elder Alexander".. according to me a must read for every traders.

Anyways... I didnt mean to hurt yours or anyone's feeling.. It was just my reaction.

Dear Manish bhai , you are correct , any formula or calculation or any strategy, we should back test with purified data and according to success report we should trade , in my view any trading system is having negative points also there is a limitation for every trading method, so to avoid that money management is working for that .....

 

[DPKAUR]

Those who made long positions in RIL from the zone of 925 can book partial here. RIL trading at 939. Rest quantity hold with TSL @ close below 922

 

[justy]

Dear DK,
I am long in Sbi , OILindia.
You have not told any target levels for SBIN. You only mentioned the stoploss in Sbin.

 

[DPKAUR]

Dear DK,
I am long in Sbi , OILindia.
You have not told any target levels for SBIN. You only mentioned the stoploss in Sbin.

Sorry Justy I forgot to mention the target levels for sbi. Targets are 2479, 2525, 2576, 2630, 2745, 2834,

 

[justy]

Reliance Industries

In Reliance Industries try to make long entries in the zone from 93support925 - 911.
Stop-loss would be a close below 908. Targets are 936, 988-995, 1040, 1063, 1145, 1197, 1285,1340.
The charts is giving very bullish signals. Rest market is supreme & dynamic. Our job is to do our analysis and act with proper stop-losses, rest market will prove our analyis.

Dpk your levels are perfect. I missed this trade of RIL. Today RIL made a low of 925 and high of 945. It took support exactly at your told level. When all the TV channels and so called their technical analysts were saying only negative things about RIL suddenly came your post on RIL and exactly from that day it took support only at the mentioned levels. Your analysis is perfect to the pin point. Hats off!!!
And thanks for coming back on my request.....

 

[sumitalwar]

Sorry Justy I forgot to mention the target levels for sbi. Targets are 2479, 2525, 2576, 2630, 2745, 2834,

cud u mention expected time for the said targets

 

[DPKAUR]

Justy there is nothing like pinpoint perfection in technical analysis. I just did my analysis based on Gann theories. Rest MKT is supreme. Mkt proves whether your analysis is correct or wrong. Follow only one system whatever it is be it crossover, be it Fibonacci, be it breakout etc that one particular system will give you whatever you want from the MKT.

 

[DPKAUR]

cud u mention expected time for the said targets

Sumit Bhatia ji I am still learning cycles theory so can't tell you the exact time but if everything goes right then in SBIN the target of 2834 must be met before Nov.2014.
If SBIN gives a close below 2424 then a short position can be initiated with stop loss at a close above 2431 for the targets of 2380, 2332, 2282, 2234, 2205 (important support).
* All levels are of cash.

 

[JAMES_BOND_007]

I am very much fond of this thread for learning new things about GANN and accurate positional tips. Keep it up!!