At the entrance of the New York Stock Exchange, is a life-sized image of W D. Gann (1878 - 1955) and this is a testament to his reputation among the dealers around the world. Today it remains one of the most influential businessman of all time.
WD Gann Trading Methods and performance
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WD Gann employs a staff of 25 signatories to draw maps of all shares on the New York Stock Exchange, as well as a variety of raw materials. He would then try to trade chartsOpportunities.
Gann, in fact, made huge profits from its trading technical analysis of the markets.
There are reports that his trading techniques raised him a fortune of over $ 50 million dollars, and many of its stores are located in the file.
WD Gann Trading Philosophy
WD Gann was a prolific writer and wrote extensively outlined his ideas and methods of negotiation in a number of books and courses. Some of his ideas were empirical studies, while others are moremystical character.
Important point Gann argued that certain laws regulated by not only the markets but also the nature, and were in universal context.
The influence of price and time
One of Gann's most important contributions was the concept of combining price and time. Gann believed that happens major price movements, when price and time line. These points usually indicate a major trend change was imminent.
However, if the price and timing were not coordinated, or havedo not converge, then the time was always takes precedence over price.
Therefore, at the time, was considered by Gann as the final indicator, since all nature is governed by time.
Said in "Wall Street archives Selector" Gann.
"Remember one thing, what happened in the past in the stock market on Wall Street and will happen again.
Advances in bull markets will in the future, panic and are available in the future, as indicated in the past. This is the development of aNatural Law "
"It 'a measure in one direction, and to make the reaction in the opposite direction. To gain, you must learn to follow the trend and change when the trend is changing."
Gann and the importance of Trader Psychology
Many commentators focus on thinking about WD Gann price and time, swing trading methods, Gann angles, and his work with the Fibonacci sequence.
However, should not be underestimated, the analysis of Gann trader psychology and its insightsinto the emotions of hope, greed, and fear.
Gann was well aware that emotions caused the bulk of traders to lose money:
"We cannot escape it (emotion). In the future, it will cause another panic in stocks. When it comes, both traders and investors will sell stocks, as usual, after it is too late, or in the latter stages of a bear market"
He was aware that human nature was constant and influenced the majority of traders:
"Therefore, in order to make a success, the trader must act to ensure the vulnerability that caused the ruin of others have won "
This is what WD Gann have made. This is a tribute that successful traders are all over the world today with its own techniques and methods. No doubt, many consider WD Gann is one of the most influential businessman of all time.
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