|
William Delbert Gann made an enormous contribution to technical analysis and trading throughout his long lifetime. The fact that his techniques are used by so many traders and investors today, almost 50 years after his death, is evidence enough of his enormous contribution. Even his few critics flatter him by repeating his never failing rules as their own, more than half a century after Mr. Gann first devised them.
His Famous Last Book
W.D. Gann's last book, 45 Years in Wall Street, written when he was 72 years of age, was arguably his best stock market book. It was written with the immense benefit of his lifetime of experience in Wall Street. It was inspired by a desire to pass on his wisdom to others.
As Mr. Gann stated in the book's Foreword:
I am now in my 72nd year; fame would do me no good. I have more income than I can spend for my needs, therefore, my only object in writing this new book is to give others the most valuable gift possible KNOWLEDGE! If a few find their way to make safer investments my object will have been accomplished and satisfied readers will be my reward.
(Gann, W. D., 45 Years in Wall Street, Lambert-Gann Publishing Co., Pomeroy, WA, 1949, Forward, p. 2.)
W.D. Gann did not believe in pulling punches in his books. He understood the risks involved in trading and investing and believed in giving his students a realistic view of market reality, including knowledge which would help them to control the risk and to profit handsomely.
Early in the book Mr. Gann addresses the issue Why You Have Lost Money in Stocks and How to Make It Back. Under this heading he lists three reasons why many traders lose:
- They overtrade or buy and sell too much for their capital.
- They do not place stop loss orders or limit their losses.
- Lack of Knowledge. This is the most important reason of all.
(Gann, W. D., 45 Years in Wall Street, Lambert-Gann Publishing Co., Pomeroy, WA, 1949, p. 4.)
Every page of 45 Years in Wall Street contains valuable knowledge, however it is W. D. Gann's twenty-four never-failing rules that give traders and investors the benefit of his knowledge. As Mr. Gann states:
In order to make a success trading in the stock market the trader must have definite rules and follow them. The rules given below are based upon my personal experience and anyone who follows them will make a success.
(Gann, W. D., 45 Years in Wall Street, Lambert-Gann Publishing Co., Pomeroy, WA, 1949, p. 16.)
It is now more than 50 years since W. D. Gann documented his 24 rules, yet they apply today as much as they ever did.i
Technical Analysis Trading Software
As a Software Engineer I wanted to repeat many of Gann’s techniques in a charting application so that traders like you and me who are not mathematicians could still use the advanced techniques that Gann used to assist his trading. Over the last decade I have met with many of the greatest educators who use Gann techniques in their trading, learning from them how to apply these techniques in an advanced charting application.
So what do you need to trade commodities?
-
A commodity trading account (sometimes called a futures trading account). You can search on the internet and compare the various brokers in your area. Be careful of the cheapest broker as sometimes they can delay taking your order to market causing you to miss the prices you wanted.
-
If you are new to technical analysis, you will need to learn some techniques that you can use. I have put together a list of educators around the world that I trust to provide good quality education. We do not get any commissions for this. I just passionately believe that you need a good education if you are going to trade and take advantage of this market. Recommended Market Educators
-
You need good quality software. That’s where I come in. Market Analyst is the software that I have developed over the last decade. My aim has always been to include all the techniques that an advanced trader would need to be able to quickly analyze a security and use their knowledge and Market Analyst’s power to make some great trading decisions.
As a Technical Strategist who worked for major name Wall Street firms and a multi-billion dollar investment fund during my eleven year Investment Banking career, I am EXTREMELY impressed with Market Analyst. It is an outstanding Gann Technical Analysis program that leaves most of its competitors totally in the dust. The huge variety of cutting-edge charting tools available (all major Gann techniques, but far more besides), the sheer flexibility of the user options for each study, and the attention to detail throughout are absolutely first class. The visual appearance of the charts is both professional and beautiful: I am thinking in particular of the Gann wheels, but also the way in ALL technical tools are implemented, even on standard price charts. Plus, thanks to the templates and workbooks available, there is massive flexibility and personalization available to work with the program just the way you specifically want to.
With Market Analyst, the Technical Analyst/Trader has an enormous powerhouse of research capabilities covering everything from standard technical analysis techniques to the most esoteric Gann methodologies available. I believe that even W.D Gann himself would have been impressed. Truly first class!â€
Dr Asoka Selvarajah
OnlineTradingRebel.com
Square Of Nine
No longer is the old wooden Square of Nine wheel needed. Market Analyst includes the world's first fully customisable and interactive Square of Nine wheel, offering complete user control for quick and easy time and price target point identification.
Square Of Four
The Square of Four chart was one of the charts used by W D Gann in identifying market turning points. Market Analyst includes the Square of Four using the same graphical power as the Square of Nine chart.
Wheel Of 24
The wheel of 24 (Also known as the Circle of 24) is one of the most mystical charts used by W D Gann, and is referred to in his book "Tunnel through the air". Used extensively by both intraday and end of day traders of Gann theory, Market Analyst offers full user control over time settings, allowing for 24 hour and calendar year settings.
Realtime Data
All Market Analyst tools work with real time data on any time frame. Whether you are working with 1 minute, 4 minute, 60 minute, tick or even 20 tick charts, it doesn’t matter, you can even customise your own time frames. For real time US shares, US Futures, European or Asian markets Market Analyst will work with iQFeed, for real time Australian markets and real time FOREX, you can use Market Analyst Real Time Data.
Hexagon Chart
Another chart used extensively by W D Gann is included in Market
Analyst. The Hexagon chart has been studied and documented in detail by
many authorities on the subject of Gann. Now these studies can be
easily examined with the power and speed of Market Analyst.
Swing Charts
If you are a serious swing trader or someone just trying to chart the finer art of Gann's theories, then you cannot afford to be without Market Analyst's Swing Charts. Market Analyst brings you the Gann Swing Chart, Point Swing Chart & Percent Swing Chart, all of which can be completely customised for any time frame and any bar, point or swing count. Market Analyst is putting the best tools of the trade into your hands.
Gann Sqaures
The Square of 52, 90 & 144 were important natural squares that WD Gann used in his trading. Market Analyst brings Gann's natural squares to life with an easy to apply overlay. Market Analyst also gives you the best in user control by allowing you to test any time count on your charts, simply by typing the new time count into the properties.
Time Price Labels
Market Analyst's time and price labels provide invaluable information between critical points in the market, providing you with an excellent insight into market cycles and time and price counts, allowing you to be forewarned of important date and price levels.
Wall Charting & PDF Printing
For traders who still like to hand chart, or just want to see the bigger picture of the market, the Market Analyst Wall Chart feature takes the huge time element out of the process. Along with this, now printing individual charts or even entire Workbooks to PDF for easy, professional printing or e-mailing is a two click process.
Gann Indicators
Market Analyst Gann Analyst edition includes over 120 tools and indicators including over 40 indicators dedicated to Gann analysis, time cycles and advanced Fibonacci analysis.
Reads Data Prior to 1900
For any trader studying Gann timing cycles, the ability to study cycles over a period of more than 100 years is critical. Market Analyst allows you to view market data going back to any time in history.
|